BUS 101 Exam 3 – Marketing, Finance, Operations & Consumer
Behavior Review Guide
In what stage of the consumer decision process has the buyer gathered a sufficient amount of
information and begins to compare the different brands and options available to them - correct
answer ✔✔Evaluation of alternatives
Which one of the following statements about the consumer decision process is true - correct
answer ✔✔During the purchase decision step a consumer could actually decide not to make a
purchase for a number of reasons
Which one of the following statements best describes the product positioning process - correct
answer ✔✔Establishing a unique place in the minds of targeted customers relative to
competitors
Which one of the following statements best describes what a target market is - correct answer
✔✔An identified market segment on which a company will focus its marketing efforts
A company chooses which targeting strategy that selects a single segment of the market in
which it focuses all of its marketing efforts - correct answer ✔✔Concentrated
Who are end users of a product purchased for their own use - correct answer ✔✔Consumers
Who purchases products with the intention of either using that product in the production of
another product or reselling it for a profit - correct answer ✔✔Business buyers
A firm used what targeting marketing strategy that create a single marketing mix and makes no
effort to tailor the mix to appeal differentially to any single well defined group - correct answer
✔✔Undifferentiated
, Which of the following statements best explains what causal research is - correct answer
✔✔Attempting to explain cause and effect relationships
Purchasing of business services by institutions or any other business buyer is also called -
correct answer ✔✔Outsourcing
Segmentation, targeting, and positioning are collectively referred to as - correct answer ✔✔STP
A new task buy is the most complex buying situation for a business - correct answer ✔✔True
The purchaser is frequently the highest level management person involved in the business
buying decision - correct answer ✔✔False
When compared to consumer purchases business purchases are usually less complex - correct
answer ✔✔False
Business purchases and consumer purchases follow different processes - correct answer
✔✔True
The final step of the market research process is follow up - correct answer ✔✔True
What kind of marketing channel indicates that there are fewer intermediaries operating
between the producer and the end user - correct answer ✔✔Direct
What marketing channel implies a larger number of intermediaries and are more commonly
seen in consumer markets - correct answer ✔✔Indirect
Behavior Review Guide
In what stage of the consumer decision process has the buyer gathered a sufficient amount of
information and begins to compare the different brands and options available to them - correct
answer ✔✔Evaluation of alternatives
Which one of the following statements about the consumer decision process is true - correct
answer ✔✔During the purchase decision step a consumer could actually decide not to make a
purchase for a number of reasons
Which one of the following statements best describes the product positioning process - correct
answer ✔✔Establishing a unique place in the minds of targeted customers relative to
competitors
Which one of the following statements best describes what a target market is - correct answer
✔✔An identified market segment on which a company will focus its marketing efforts
A company chooses which targeting strategy that selects a single segment of the market in
which it focuses all of its marketing efforts - correct answer ✔✔Concentrated
Who are end users of a product purchased for their own use - correct answer ✔✔Consumers
Who purchases products with the intention of either using that product in the production of
another product or reselling it for a profit - correct answer ✔✔Business buyers
A firm used what targeting marketing strategy that create a single marketing mix and makes no
effort to tailor the mix to appeal differentially to any single well defined group - correct answer
✔✔Undifferentiated
, Which of the following statements best explains what causal research is - correct answer
✔✔Attempting to explain cause and effect relationships
Purchasing of business services by institutions or any other business buyer is also called -
correct answer ✔✔Outsourcing
Segmentation, targeting, and positioning are collectively referred to as - correct answer ✔✔STP
A new task buy is the most complex buying situation for a business - correct answer ✔✔True
The purchaser is frequently the highest level management person involved in the business
buying decision - correct answer ✔✔False
When compared to consumer purchases business purchases are usually less complex - correct
answer ✔✔False
Business purchases and consumer purchases follow different processes - correct answer
✔✔True
The final step of the market research process is follow up - correct answer ✔✔True
What kind of marketing channel indicates that there are fewer intermediaries operating
between the producer and the end user - correct answer ✔✔Direct
What marketing channel implies a larger number of intermediaries and are more commonly
seen in consumer markets - correct answer ✔✔Indirect
