Chap 4

Who is considered a “consumer”?

• Individuals or households buying for personal use

• Companies buying to resell

• Government agencies

• Non-profit organizations

A "business buyer" is any organization that:

• Purchases goods for personal consumption

• Purchases for use in production or for resale

• Only buys office supplies

• Only buys raw materials

Which characteristic applies to the business market?

• Very few, very large buyers

• Demand is highly elastic

• Short decision-making process

• Simple purchasing criteria

“Emerging demand” means:

• Demand arising from the consumer market

• Business demand based on the needs of end customers

• Demand that is predicted

• Demand that decreases over time

In the stimulus-response model, "stimulus" includes:

• Culture and price

• Product, price, place, promotion

• Only brand loyalty

• Personal income

“Black box” in consumer behavior refers to:

• Marketing mix elements

• Characteristics and decision-making processes of consumers

• External environment

• Post-purchase behavior

Which cultural factor does not influence behavior?

• Culture

• Subculture

• Reference group

• Cultural change

A "subculture" is:

• The overall value system of a society

• A smaller group within a culture that shares values

• A trend in the industry

• A national policy

"Cultural integration" means:

• One culture dominates over another culture

• Sharing and applying cultural elements while preserving identity

• Complete assimilation

• Isolation of subcultures

Social class is measured by:

• Income only

• Occupation, education, and assets

• Number of friends

• Internet usage