Chapter 4-6

Question 1

caveat emptor

Answer 1

let the buyer beware

Question 2

economic espionage

Answer 2

illegal collection of trade secrets

Question 3

code of ethics

Answer 3

formal statement of ethical principles and rules of conduct

Question 4

moral idealism

Answer 4

the belief that individual rights and duties are universal

Question 5

utilitarianism

Answer 5

greatest good for greatest number

Question 6

social responsibility concept

Answer 6

Profit (shareholders) Stakeholders, Societal

Question 7

triple bottom line

Answer 7

people, profit, planet

Question 8

societal responsibility

Answer 8

responsibility to the environment and general public

Question 9

Cause marketing

Answer 9

charitable contributions tied directly to customer revenues

Question 10

social audit

Answer 10

assessment of firms objectives, strategies and preformance

Question 11

five steps of a social audit

Answer 11

Recognition of a firm’s social expectations and the rationale for engaging in social responsibility endeavours.

Identification of social responsibility causes or programs consistent with the company’s mission.

Determination of organizational objectives and priorities for programs and activities it will undertake.

Specification of the type and amount of resources necessary to achieve social responsibility objectives.

Evaluation of social responsibility programs and activities undertaken and assessment of future involvement.

Question 12

five steps of purchase decison

Answer 12

Problem recognition, information search, alternative evaluation, purchase decision, post purchase behaviour.

Question 13

example of five step purchase decision for : buying a dog, buying a car, choosing a venue for your boyfriends birthday

Answer 13

Problem recognition
information search: external and internal sources, ask friends and family, past experiences etc
Alternative evaluation: 1) yielding brand names, (2) criteria to judge the various brands, (3) developing consumer value perceptions. Consideration set, and brand awareness,

Question 14

three types of problem solving

Answer 14

Extended, Limited and Routine

Question 15

What is learning

Answer 15

behaviour that results from previous experience and thinking

Question 16

behavioural learning

Answer 16

automatic responses to a situation built up through repeated exposure to it

Question 17

cognitive learning

Answer 17

Consumers also learn through thinking, reasoning, and mental problem solving without direct experience

Question 18

three approaches to try to change consumer attitudes

Answer 18

Changing beliefs about the extent to which a brand has certain attributes, Changing the perceived importance of attributes, adding new attributes to the product

Question 19

Roles of individual family members in the purchase process

Answer 19

(1) information gatherer, (2) influencer, (3) decision maker, (4) purchaser, and (5) user

Question 20

types of personal influences

Answer 20

word of mouth, buzz marketing, reference groups

Question 21

business marketing

Answer 21

marketing of goods to businesses, not for profits and governments

Question 22

organizational buyers

Answer 22

manufacturers, retailers, governments agencies that buy goods or services for their own use or for resale (suppliers)

Question 23

Industrial firms

Answer 23

reprocess a good or service for resale

Question 24

resellers

Answer 24

buy products for resale

Question 25

key characteristics of organizational buying

Answer 25

market characteristics, product or service characteristics, buying process characteristics, marketing mix characteristics

Question 26

Organizational buying criteria

Answer 26

(1) price, (2) ability to meet the quality specifications required for the item, (3) ability to meet required delivery schedules, (4) technical capability, (5) warranties and claim policies in the event of poor performance, (6) past performance on previous contracts, and (7) production facilities and capacity

Question 27

Roles of buyers

Answer 27

user, influencer, buyer, decider, gatekeeper

Question 28

types of buy classes

Answer 28

new buy, modified rebuy, straight rebuy