BADM Exam 2 Questions with
Complete Answers
Benedict is an analyst Who notices that his computer system is no longer adequate
to his job. He tells his superiors and coworkers that a change in the computer
systems needs to happen. In this sense, Benedict is what part of the buying center?
- ANSWER-Initiator. Because he's solving the problem.
From where can companies determine the needs and wants of their customers? -
ANSWER-From suppliers, salespeople, and competitors
Which part of a request for proposal, RFP, is most important when dealing with
subcontractors? - ANSWER-Scope of work. Because it lists all the needs to be done.
What is the correct order for the B2B buying process? - ANSWER-Need recognition.
Product specification, RFP process, proposal analysis, and supplier selection
Which of the following global entry strategies poses the least risk for a firm going
abroad?
Exporting, franchising, joint venture, or direct investment. - ANSWER-Exporting.
Because it requires the least amount of money.
Steps in the consumer decision-making process - ANSWER-1. Need recognition.
2. Information search.
3. Alternative evaluation.
4. Purchase.
5. Post purchase
What are the steps in the marketing segmentation analysis? - ANSWER-
Which type of segmentation strategy is best for small entrepreneurs? - ANSWER-
Concentrated
Which of the following is the usual sequence of steps in the marketing research
process? - ANSWER-
When Tiffany and Benedict shop around researching different brands of dishwashers
for their new house. they search online and look in various stores in order to
compare brands and determine which one they should buy. The new dishwasher
would represent what kind of product? - ANSWER-Shopping product
A characteristic that is NOT related to primary data is - ANSWER-"It is usually free or
inexpensive"
, Characteristics related to primary data - ANSWER-This type of research is usually
used at the beginning stage of research. And it helps formulate research objectives
The type of data that is collected before we have started research is called -
ANSWER-Secondary data. Because it is data collected before hand.
Mark, a middle-aged overweight yet devilishly handsome business person, Buys an
expensive sports car in order to feel young and sexy. Mark is by the sports car based
on what you need? - ANSWER-Psychological need
Trisha is thinking about buying a new pair of rain boots, she is not sure if the boots
she's about to buy will do a good job of keeping her feet dry. What risk will most
likely shave her search for a new pair of rain boots? - ANSWER-Performance risk.
Because she's worried if it will perform correctly.
Caleb is debating on whether to take his dad to school with him on, bring your dad to
school day. Caleb is worried that his father will look silly in the other students will
think Caleb is strange because his dad looks so silly. Caleb is dealing with what kind
of risk? - ANSWER-Social risk. Because he's worried about the perception of others
towards him because of his fathers actions.
When friends ask what bars to go to, Maddie always recommends her favorite bars,
Cams, red lion and firehouse. Cams, red lion, and firehouse represent which set of
alternatives? - ANSWER-Evoked set. Specific ones
Universal set is - ANSWER-All of them included
A retrieval set is - ANSWER-The set ones you think of
Which product would cause the most post purchase cognitive dissonance, buyers
remorse? - ANSWER-Moving to a new town and buying a house in a bad
neighborhood.
Because this creates more financial risk which causes more cognitive dissonance.
Ken wants to buy a new Xbox gaming system. However, he already has a Nintendo
Wii with lots of his favorite games. Therefore he will have to buy all his favorite
games again so that he can play them on the Xbox. This is an issue and which part
of the four C's of marketing? - ANSWER-Cost to satisfy versus price.
Because extra stuff comes with it.
Students tend to buy textbooks from the lowest priced vendor. Thus, they mostly by
their textbooks online via Amazon or other online retailers. This is an issue of what
part of the four C's of marketing? - ANSWER-Convenience to buy.
how people purchase products
Complete Answers
Benedict is an analyst Who notices that his computer system is no longer adequate
to his job. He tells his superiors and coworkers that a change in the computer
systems needs to happen. In this sense, Benedict is what part of the buying center?
- ANSWER-Initiator. Because he's solving the problem.
From where can companies determine the needs and wants of their customers? -
ANSWER-From suppliers, salespeople, and competitors
Which part of a request for proposal, RFP, is most important when dealing with
subcontractors? - ANSWER-Scope of work. Because it lists all the needs to be done.
What is the correct order for the B2B buying process? - ANSWER-Need recognition.
Product specification, RFP process, proposal analysis, and supplier selection
Which of the following global entry strategies poses the least risk for a firm going
abroad?
Exporting, franchising, joint venture, or direct investment. - ANSWER-Exporting.
Because it requires the least amount of money.
Steps in the consumer decision-making process - ANSWER-1. Need recognition.
2. Information search.
3. Alternative evaluation.
4. Purchase.
5. Post purchase
What are the steps in the marketing segmentation analysis? - ANSWER-
Which type of segmentation strategy is best for small entrepreneurs? - ANSWER-
Concentrated
Which of the following is the usual sequence of steps in the marketing research
process? - ANSWER-
When Tiffany and Benedict shop around researching different brands of dishwashers
for their new house. they search online and look in various stores in order to
compare brands and determine which one they should buy. The new dishwasher
would represent what kind of product? - ANSWER-Shopping product
A characteristic that is NOT related to primary data is - ANSWER-"It is usually free or
inexpensive"
, Characteristics related to primary data - ANSWER-This type of research is usually
used at the beginning stage of research. And it helps formulate research objectives
The type of data that is collected before we have started research is called -
ANSWER-Secondary data. Because it is data collected before hand.
Mark, a middle-aged overweight yet devilishly handsome business person, Buys an
expensive sports car in order to feel young and sexy. Mark is by the sports car based
on what you need? - ANSWER-Psychological need
Trisha is thinking about buying a new pair of rain boots, she is not sure if the boots
she's about to buy will do a good job of keeping her feet dry. What risk will most
likely shave her search for a new pair of rain boots? - ANSWER-Performance risk.
Because she's worried if it will perform correctly.
Caleb is debating on whether to take his dad to school with him on, bring your dad to
school day. Caleb is worried that his father will look silly in the other students will
think Caleb is strange because his dad looks so silly. Caleb is dealing with what kind
of risk? - ANSWER-Social risk. Because he's worried about the perception of others
towards him because of his fathers actions.
When friends ask what bars to go to, Maddie always recommends her favorite bars,
Cams, red lion and firehouse. Cams, red lion, and firehouse represent which set of
alternatives? - ANSWER-Evoked set. Specific ones
Universal set is - ANSWER-All of them included
A retrieval set is - ANSWER-The set ones you think of
Which product would cause the most post purchase cognitive dissonance, buyers
remorse? - ANSWER-Moving to a new town and buying a house in a bad
neighborhood.
Because this creates more financial risk which causes more cognitive dissonance.
Ken wants to buy a new Xbox gaming system. However, he already has a Nintendo
Wii with lots of his favorite games. Therefore he will have to buy all his favorite
games again so that he can play them on the Xbox. This is an issue and which part
of the four C's of marketing? - ANSWER-Cost to satisfy versus price.
Because extra stuff comes with it.
Students tend to buy textbooks from the lowest priced vendor. Thus, they mostly by
their textbooks online via Amazon or other online retailers. This is an issue of what
part of the four C's of marketing? - ANSWER-Convenience to buy.
how people purchase products
