WGS205H5 Lecture Notes - Lecture 10: Internet2, Outsourcing
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Question 1
With respect to consumer behavior, one's attitudes, learning, and perceptions would be
| impersonal influences | ||
| interpersonal influences | ||
| personal influences | ||
| insitutional influences |
Question 2
In Maslow's hierarchy of needs,
| a physiological need must be met directly before social needs. | ||
| esteem needs are the highest order of needs. | ||
| self-actualization needs are the highest order | ||
| safety needs and esteem are of the same importance. |
Question 3
The most likely product to be purchased in an attempt to satisfy self-esteem needs would be
| "super class" tickets for your next air flight. | ||
| a really fast computer. | ||
| a home security system. | ||
| yogurt and health food. |
Question 4
Which of the following is not a characteristic that distinguishes organizational markets from consumer markets?
| Organizational markets are more geographically concentrated. | ||
| More people exert influence on the organizational buying decision. | ||
| The organizational market tends to have a greater number of buyers. | ||
| Organizations often engage in multiple sourcing and vendor analysis. |
Question 5
Consumers may attempt to reduce postpurchase anxiety in the consumer decision process by
| avoiding favorable information about the selected brand | ||
| seeking reassurance from dissatisfied customers | ||
| seeking information that favors the rejected brands | ||
| ignoring unfavorable reports about the chosen brand |
Question 6
The buying center concept explains how groups of people participate informally in business purchase decisions and
| methods to break through group perceptions. | ||
| the role the group members play in buying decisions. | ||
| how family units operate as buying centers. | ||
| the process of performing vendor analysis. |
Question 7
In the organizational buying process, a triggering event such as announcement of the availability of a new product whose use could improve the company's market performance is referred to as
| need or opportunity recognition | ||
| identification of suppliers | ||
| information search | ||
| word-of-mouth exploration |
Question 8
An undifferentiated marketing strategy
| serves the consumer better because the products offered are designed to meet the needs of a specific group of people | ||
| benefits from the control and efficiency of short production runs | ||
| ignores differences among consumer groups and focuses on the broad market | ||
| is the most common strategy today and is used more now than in the past |
Question 9
Goods purchased by the ultimate consumer for personal use are called
| personal products | ||
| purchased products | ||
| consumer products | ||
| commercial products |
Question 11
A particular purchasing agent might allow some salespeople to see the engineers responsible for developing product specifications but not allow others the same privilege. In the buying center, this purchasing agent is filling the role of
| a "hard" nose | ||
| a gatekeeper | ||
| an influencer | ||
| a decider |
Question 12
"Our prices are the lowest, we guarantee it" is an example of a positioning strategy based on the product's
| competitors | ||
| price | ||
| class | ||
| application |
Question 13
Segmenting the market based on exactly how an industrial purchaser will use products is referred to as
| customer-based segmentation | ||
| benefits segmentation | ||
| end-use application segmentation | ||
| geographic segmentation |
Question 14
The lumber your carpenter purchases to finish out your basement is classified as
| a home improvement product | ||
| a raw material | ||
| a business product | ||
| a consumer good |
Question 15
When consumer demand for personal computers affects computer manufacturers' demand for computer chips, this situation is known as
| volatile demand | ||
| conjoined demand | ||
| derived demand | ||
| joint demand |
Question 16
Which of the following is a personal factor in consumer bahavior?
| a cultural influence | ||
| group membership | ||
| friends' opinions | ||
| a person's attitudes |
Question 17
Cognitive dissonance would be most likely to occur after the purchase of
| sneakers | ||
| groceries | ||
| an automobile | ||
| cosmetics |
Question 18
Which of the following would be most likely to break through a person's perceptual screen?
| a newspaper ad featuring white type on a black background | ||
| a black- and -white classified ad | ||
| reducing the size of the ad | ||
| using fewer colors in the ad |
Question 19
The Fortune 500 list of America's largest firms based on sales revenues and number of employees provides a basis for
| market segmentation based upon customer type | ||
| demographic segmentation based upon geographic location | ||
| end-user segmentation of this market | ||
| demographic segmentation based upon customer size |
Question 20
Straight rebuy behavior by industrial purchasers will probably continue if the supplier provides
| poor service | ||
| poor quality | ||
| shipping delays | ||
| satisfactory performance |
Question 21
A controversial technique of subconscious communication, aimed at circumventing the perceptual screens, is called
| shadowed perception | ||
| leger-de-main | ||
| subliminal perception | ||
| perception incognito |
Question 22
Those products that are actually considered when making a consumer purchase decision are
| customer options | ||
| customer selections | ||
| the evoked set | ||
| the product set |
Question 23
The component of the business market that consists of individuals and firms that acquire goods and services to be used directly, or indirectly, in producing other goods and services is called:
| wholesaling and retailing | ||
| the commercial market | ||
| government | ||
| an institution |
Question 24
The institutional market does not include which of the following?
| hospitals | ||
| museums | ||
| motion pictures theatres | ||
| universities |
Question 25
Advertising for smoke alarms, air bags and life insurance typically uses which of Maslow's levels of needs to appeal to consumers?
| self-esteem needs | ||
| safety and security needs | ||
| physiological needs | ||
| protection needs |
Question 26
One type of buying center role is that of the
| influencer who supplies information for evaluation. | ||
| authority figure who decides who, what, where, when, and how. | ||
| disseminator who function is to get advertisements to prospects. | ||
| specifier who needs on the specifications of products |
Question 27
Manufacturing firms that convert to automated factory systems must purchase equipment that they have never bought before, such as robots and computers. This buying situation is called
| a straight rebuy | ||
| a modified rebuy | ||
| a contract purchase | ||
| new-task buying |
Question 29
A commonly used basis for segmenting consumer markets is
| product-related characteristics | ||
| health-related matters | ||
| information-related concepts | ||
| performance-related criteria |
1 points
Question 30
The business market is also known as the
| wholesale market | ||
| corporate market | ||
| organizational market | ||
| distribution market |
Question 31
Which of the following consumer problem-solving behaviors requires the least effort?
| extended problem solving | ||
| limited problem solving | ||
| impulsive buying | ||
| routine response behavior |
Question 32
The relationship between the demand for silk cloth and consumer demand for silk blouses and neckties is known as
| joint demand | ||
| demand volatility | ||
| derived demand | ||
| consumer demand |
Question 33
Examples of business market items that would usually be purchased as a straight rebuy are
| high quality raw materials | ||
| heavy-duty machinery | ||
| paper clips and pencils | ||
| high-tech components |
Question 34
The person who joins a local bowling league for the social interaction, even if he or she is a novice bowler, is probably trying to satisfy his or her
| esteem needs | ||
| self-actualization needs | ||
| physiological needs | ||
| belongingness/social needs |
Question 35
Campbell's "Soup for One" is an example of a product that is targeted to
| large families with high product usage of certain things but different preferences | ||
| dual-income couples with no kids | ||
| well-off older families | ||
| non-traditional households such as nonfamily, single-person or single-parent situations |
Question 36
Red Ryder Industries markets rodeo and horse riding supplies specifically to women. This is an example of
| market stratification | ||
| market segmentation | ||
| non-traditional marketing | ||
| multi-gender marketing |
Question 37
Purchases made by choosing a preferred brand or one of a limited group of acceptable brands are called
| extended problem solving | ||
| routinized response behavior | ||
| limited problem solving | ||
| selective problem solving |
Question 38
The slogan "the graying of America" describes the trend
| toward people retiring later in life | ||
| of the word force to contain a disproportionate number of older Americans | ||
| for gray hair to develop from years of high-stress urban work | ||
| upward in the elderly population as Americans tend to live longer |
Question 39
People or institutions must have sufficient purchasing power and the authority and willingness to buy to be considered a
| market | ||
| buyer | ||
| player | ||
| segment |
Question 40
Reference group influences would be most likely to be significant in the decision to buy
| a loaf of bread | ||
| a Mercedes Benz | ||
| a clock radio | ||
| cellophane tape |
Question 41
Internal search in the consumer decision process may include
| subscribing to consumer magazines to evaluate alternatives | ||
| talking to family members | ||
| reviewing past purchases | ||
| surveying coworkers for buying options |
Question 42
The process of dividing the total market into several smaller, homogeneous groups is called
| market penetration | ||
| market segmentation | ||
| market mixing | ||
| market division |
The primary costs of FDI to host countries are:
| Loss of sovereignty and patriotism | ||
| Adverse effects on competition and exports | ||
| Capital outflow | ||
| Loss of sovereignty, adverse effects on competition, and capital outflow |
____ suggests that FDI, unrestricted by government intervention, will enable countries to tap into their absolute or comparative advantage by specializing in the production of certain goods or services.
| The radical view | ||
| The free market view | ||
| Pragmatic nationalism | ||
| Expropriation |
What are the benefits of FDI to home countries?
| Repatriated earnings from profits from FDI. | ||
| Increased exports of components and services to host countries. | ||
| Learning via FDI from operations abroad. | ||
| All of these answers |
When one firm enters a foreign country through FDI, its rivals are likely to follow by undertaking additional FDI in a host country to:
| Create knowledge spillover | ||
| Discover a new market for its goods | ||
| Overcome and combat market failure through FDI | ||
| Acquire location advantages or neutralize the first moverâs location advantages |
Most countries practice:
| Pragmatic nationalism | ||
| Free market based FDI | ||
| Government embracing radical view | ||
| French patriotism |
FDI may be viewed as a reflection of firm motivation to extend firm-specific capabilities abroad and their responses to overcome imperfections and failures.
| True | ||
| False |
Most countries practice a totally "free market" view.
| True | ||
| False |
8. Outsourcing is the process of turning over an organizational activity to an outside supplier, located in a foreign country, which will perform it on behalf of the local firm.
| True | ||
| False |
Financial, physical, and technological resources and capabilities are all tangible assets.
| True | ||
| False |
A firm's resources and capabilities are tangible assets a firm uses to choose and implement its strategies.
| True | ||
| False |
An example of low power distance would be when subordinates address their bosses on a first-name basis.
| True | ||
| False |
Benchmarking is an assessment as to whether a firm has resources and capabilities to perform a particular activity in a manner superior to competitors.
| True | ||
| False |
A country with low-masculinity has a more subtle differentiation between the gender roles.
| True | ||
| False |
Setting up subsidiaries abroad so the work can be performed in-house but in the foreign location is also called captive sourcing.
| True | ||
| False |
Managers in low uncertainty avoidance countries rely more on experience and training than managers in high uncertainty avoidance countries who rely more on rules.
| True | ||
| False |
Informal institutions include laws, regulations, and rules.
| True | ||
| False |
The United States is often classified as a collective society.
| True | ||
| False |
A pure market economy characterized by the "invisible hand" of market forces is noted by
| John Stuart Mill | ||
| Adam Smith | ||
| Aristotle | ||
| Amatya Zen |
Culture is defined in the text as:
| The communication between members of similar location. | ||
| The collective programming of the mind, which distinguishes the members of one group or category of people from another. | ||
| The main component of formal institutions. | ||
| The attitudes and behaviors characteristic of a particular social group or organization. |
When an expat employee returns to her or his current employer but the employer does not provide attractive opportunities, she/he often may be hired by a competitor firm. Why?
| Competitor firms are also interested in globalizing their business. | ||
| Former expats bring instant expertise and experience. | ||
| Competing firms will pay a higher premium for expertise. | ||
| All of these answers |
The government taking a "hands-off approach" is known as:
| Laissez faire | ||
| Command economy | ||
| Mixed economy | ||
| Liberal approach |
Expatriate managers make ideal candidates for top management positions.
| True | ||
| False |
____ are defined as rights associated with the ownership of intellectual property.
| Patents | ||
| Copyrights | ||
| Trademarks | ||
| Intellectual property rights |
In a collective society:
| Family units are highly valued. | ||
| Being an entrepreneur is a popular mindset | ||
| Being different than your neighbor is important. | ||
| Outsiders are easily trusted. |
Which of the following definitions best defines an expatriate manager?
| A manager who works outside his or her native country | ||
| A manager of great expertise | ||
| An ex-manager rehired for advisory purposes | ||
| None of these answers |