BUSI 330 Quiz 2

BUSI 330 Quiz 2 Liberty University

1. Lifestyle refers to
2. The Ford Fusion Hybrid SE uses hybrid fuel technology with the latest in lithium- ion battery technology to deliver more power, convenience, prestige, and fuel economy than non-hybrid cars. If a consumer used these attributes in evaluating this vehicle against others, the attributes would be considered
3. In the VALS framework, consumers motivated by ideals are guided by knowledge and principle. One segment of the two ideals-motivated groups, known as, have fewer resources and are not looking to change society. They believe in definitive right and wrong, which need to be recognized to lead a good life.
4. Which of the following statements about African American buying patterns is most accurate?
5. The five stages a buyer passes through in making choices about which products and services to buy is called the influences on consumer behavior result from three sources: consumer socialization, passage through the life cycle, and decision making within the household.
6. Which of the following statements about personality is most accurate?
7. The annual market size for products bought by or for preteens and teenagers is about
8. Claire has just told her best friend, “I’m so glad I bought the Samsung Galaxy S9 rather than those other smartphones I was considering. Look at this incredible display, and the battery stays charged forever.” Which stage of the consumer purchase decision process does Claire’s conversation identify?
9. At the of the consumer purchase decision process, a consumer compares the product with his or her expectations and is either satisfied or dissatisfied.
10. The North American Industry Classification System (NAICS)
11. The NAICS groups economic activity to permit studies of
12. South Cape Ostrich Tanning (SCOT) is a producer of fine ostrich leathers, which are sold to manufacturers that make a variety of products from shoes to car interiors. Demand for SCOT’s leather is a result of consumer interest in products such as Via La Moda handbags made from this exotic and expensive leather. SCOT has demand for its product.
13. Which of the following is a service business within the industrial market?
14. An industrial buying practice in which two organizations agree to purchase each other’s products and services is referred to as
15. At which stage of the organizational buying decision process would a firm select a supplier, negotiate terms, and award a contract?
16. Walmart asked that Procter & Gamble (P&G) electronically link to its computerized cash register scanning system, allowing for direct electronic ordering and replenishing for all of its stores. This way, Walmart can tell P&G what merchandise it needs, along with how much, when, and to which store to deliver on a daily basis. Walmart is engaged in
17. Lara assumed the role in the buying center when she shook the salesperson’s hand and said, “Ms. Hron, we would like to accept your bid. I’ll expect 48 boxes of ring shank nails to be delivered by November 8, and we will pay the agreed-upon price of $21.74 per box.”
18. The people in the organization who actually consumer the product or service are referred to as , which is one role in the buying center.
19. In which type of auction is there an upward pressure on bid prices as more would-be buyers become involved?
20. Economic infrastructure is
21. Which of the following is an important indicator of a nation’s increasing purchasing power?
22. The estimated cost of economic espionage to firms in the United States is estimated to be
23. All of the following are challenges faced by Amazon in its expansion into India except which?
24. A field of study that examines the correspondence between symbols and their role in the assignment of meaning for people is referred to as
25. Disney employed marketing strategy for its Disneyland Paris, particularly when it came to the eateries in the park. These restaurants featured recipes that were revised for local tastes, alcoholic beverages (not permitted in previous parks), and increased outdoor seating.
26. Which of the following countries is the world’s leading importer?
27. Which form of entry into a global market makes a firm the most vulnerable to
28. harm regarding its brand name or reputation?
29. What global market entry strategy did Mary Kay use when it entered India?
30. S.-based Fran Wilson Creative Cosmetics attributes its success in Japan to a top-quality product, effective advertising, and a novel strategy, in which it uses Japanese distributors to reach beauty salons rather than department stores.