EXAM 2- PRINCIPLES OF MARKETING - MKTG 3131 GA SOUTHERN QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026

EXAM 2- PRINCIPLES OF MARKETING - MKTG 3131 GA SOUTHERN QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026 The Process through which buyers make Purchase decisions - Answers Consumer Behavior Values, beliefs, preferences, and tastes handed down from one generation to the next - Answers Culture Groups with their own distinct modes of behavior - Answers Sub cultures What are the U.S. Core values? - Answers - Work ethic - Desire to accumulate wealth - Importance of education, individualism, freedom, youth, health, volunteerism, and efficiency Groups whose value structures and standards influence a person's behavior - Answers Reference groups upper-upper, lower-upper, upper-middle, lower-middle, working class, and lower class - Answers Social Classes Trendsetters who purchase new products before others in a group and then influence others in their purchases - Answers Opinion leaders Imbalance between a consumer's actual and desired states - Answers Need Inner state that directs a person toward the goal of satisfying a need - Answers Motive The mental filtering processes through which all inputs must pass - Answers Perceptual Screens A person attributes to incoming stimuli gathered through the five senses - Answers Perception Subconscious receipt of incoming information - Answers Subliminal perception Person's enduring favorable or unfavorable evaluations, emotions or action tendencies toward some object or idea - Answers Attitude What are the three attitude components? - Answers Cognitive, affective, behavioral What are the four components of the learning process? - Answers Drive, cue, response, reinforcement Applying a series of rewards and reinforcement, to permit more complex behavior to evolve - Answers Shaping Purchases with high levels of potential social or economic consequences - Answers High-involvement purchase decisions routine purchases that pose little risk to the consumer - Answers Low-Involvement purchase decisions an objective of the total person (self-concept theory) - Answers Real Self the way an individual views self (self-concept theory) - Answers Self-image the way an individual thinks others see him or her (self-concept theory) - Answers Looking-glass self a personal set of objectives (self-concept theory) - Answers Ideal self Consumer becomes aware of a gap between the existing situation and a desired situation - Answers Problem or opportunity recognition Consumer gathers information about the attainment of a desired state of affairs - Answers Search Number of alternatives that a consumer considers in making a purchase decision - Answers Evoked Set Features that a consumer considers in choosing among alternatives - Answers Evaluative Criteria After evaluating each alternative in the evoked set, the consumer decides where or from whom to make the purchase - Answers Purchase decision and purchase act Buyer feels either satisfaction at the removal of the discrepancy between the existing and desired states or dissatisfaction with the purchase - Answers Post-purchase evaluation Imbalance among knowledge, beliefs, and attitude that occurs after an action or decision, such as a purchase - Answers Cognitive Dissonance Dissonance is likely to increase: - Answers As the value of a purchase increases Consumer makes many purchases routinely by choosing a preferred brand or one of a limited group of acceptable brands - Answers Routinized response behavior Consumer has previously set evaluative criteria for a particular kind of purchase but then encounters a new, unknown brand - Answers Limited problem solving Organizational sales and purchases of goods and Services - Answers Business-to-business (B2B) marketing More than ______% of market is B2B - Answers 80% what the three influences in B2B markets? - Answers - Environmental - Organizational - Interpersonal All individuals and firms that acquire products to support, directly or indirectly, production of other goods and services - Answers Commercial market Retailers and wholesalers that purchase products for resale to others - Answers Trade industries Linkage between demand for a company's output and its purchases of resources - Answers Derived demand Derived demand creates volatility in business market demand - Answers Volatile demand Demand for a product that depends on the demand for another product used in combination with it - Answers Joint Demand Demand throughout an industry will NOT change significantly due to a price change - Answers Inelastic demand inventory policies boost efficiency by cutting inventory and requiring vendors to deliver inputs as they are needed by the production process - Answers Just-in-time (JIT) inventory buying a firm's entire stock of a product from just one vendor - Answers Sole sourcing Trade sector buyers who secure needed products at the best possible prices - Answers Merchandisers Functions of a merchandising unit: - Answers - Determining needs - Locating and evaluating alternative suppliers - Making purchase decisions centralization of procurement function within an internal division or as a service of an external supplier - Answers System integration Trade industry vendor who develops a comprehensive procurement plan for a retail buyer - Answers