Question 1

People’s needs to grow, develop, and achieve their full potential are referred to by Maslow as ____ needs.

Answer

ego

esteem

self-actualization

social

safety

Question 2

After certain inputs have been selected to reach an individual’s awareness, the next step in the perceptual process is perceptual

Answer

organization.

attention.

retention.

interpretation.

redefinition.

Question 3

Consumers tend to remember information inputs that support their feelings and beliefs and forget inputs that do not. This is known as selective

Answer

exposure.

distortion.

retention.

information.

organization.

Question 4

Changes in an individual’s thought processes and behavior caused by information and experience is called

Answer

learning.

attitude formation.

patronage motives.

personality.

motivation.

Question 5

Business markets are typically divided into four categories. These categories are

Answer

retailers, wholesalers, services, and nonprofit firms.

producer, manufacturer, reseller, and government.

producer, reseller, government, and institutional.

manufacturer, wholesaler, retailer, and services.

reseller, retailer, government, and institutional.

Question 6

Churches, charitable organizations, and private colleges are considered ____ buyers.

Answer

corporate

government

institutional

producer

nonprofit

Question 7

____ is(are) a major threat to the sales success of jointly demanded products.

Answer

Price changes

Shortages

Economic instability

Inventory buildup

Proliferation of brands

Question 8

Inelastic demand simply means that

Answer

buyers will not make a modified rebuy purchase.

demand depends on how many items are purchased.

a price increase or decrease will not significantly change the demand for an item.

when price goes up, demand goes down.

when supply is reduced, the price will increase.

Question 9

The Common Market of the Southern Cone (MERCOSUR) includes countries from

Answer

Africa.

Asia.

Central America.

South America.

the Pacific Islands.

Question 10

The purchase of products from a foreign source is called

Answer

exporting.

dumping.

importing.

licensing.

venturing.

Question 11

The United States’ prohibition against importing cigars from Cuba is an example of a(n)

Answer

health control.

quota.

embargo.

exchange control.

import control.

Question 12

The Grummond Group buys computer peripherals in industrialized countries and sells them to customers in developing countries. Grummond is most likely classified as a(n)

Answer

trading company.

strategic alliance.

joint venture.

licensee.

exporter.

Question 13

____ are people who gather information and organize content generated by critics and creators.

Answer

Collectors

Spectators

Joiners

Creators

Critics

Question 14

The ability to obtain digital information is referred to as

Answer

accessibility.

addressability.

interactivity.

connectivity.

control.

Question 15

LinkedIn is a social networking site geared toward

Answer

Millennials.

teenagers.

singles.

professionals.

retired people

Question 16

The most popular video-sharing website is

Answer

Flickr.

Facebook.

YouTube.

Wikis.

QQ.

Question 17

The development of a container and graphic design for a product is called

Answer

licensing.

labeling.

preparing.

packaging.

distributing.

Question 18

The width of a product mix is measured by the number of product

Answer

dimensions in the product line.

features in each brand.

items in the product line.

lines a company offers.

specialties a company offers.

Question 19

The last group to adopt a new product, ____, is oriented toward the past and is suspicious of new products.

Answer

non-adopters

laggards

innovators

late adopters

late majority

Question 20

Sales start at zero and profits are negative during the ____ stage of the product life cycle.

Answer

decline

growth

initial

maturity

introduction