Question 1

Tom usually buys new devices such digital watches only after his friends and family start owning these devices.
In this case, Tom is an innovator.

Accepted Answer

An innovator is someone who adopts new technologies or devices early, often before others. Tom waits until others have adopted the devices, indicating he is not an innovator.

Question 2

Lagging adopters are tradition bound-they are suspicious of changes and adopt the innovation only when it has become something of a tradition itself.

Accepted Answer

Lagging adopters are typically the last group to adopt an innovation, often due to their preference for tradition and skepticism towards new changes. They tend to adopt only when the innovation is widely accepted and established.

Question 3

Identify the product characteristics that influence the rate of adoption of a product. Explain how each characteristic affects the rate of adoption.

Accepted Answer

The answer of Identify the product characteristics that influence the...

Question 4

A business marketer normally deals with far fewer buyers than a consumer marketer.

Accepted Answer

Business sales typically involve larger purchases, which means the target audience is smaller than that of consumer sales.

Question 5

Adoption is the decision by an individual to try the product.

Accepted Answer

Adoption is the decision by an individual to fully accept and regularly use a product, not just to try it.

Question 6

Supplier development refers to systematically developing networks of supplier-partners to ensure a dependable supply of the products and materials.

Accepted Answer

Supplier development involves working with suppliers to improve their capabilities and performance, ensuring a reliable supply chain.

Question 7

In a straight rebuy, a buyer _ .

Accepted Answer

In a straight rebuy, the buyer reorders a product or service without any modifications, as it is a routine purchase.

Question 8

The text makes reference to the relationship between IBM and Six Flags Entertainment Corporation. More than just providing a product or service, IBM is an example of .

Accepted Answer

Systems selling refers to the practice of selling a complete solution to a problem, rather than just a product or service. IBM's relationship with Six Flags likely involves providing a comprehensive solution, which is characteristic of systems selling.

Question 9

is the degree to which the results of using an innovation can be observed or described to others.

Accepted Answer

Communicability is the degree to which the results of using an innovation can be observed or described to others.

Question 10

When Goodyear sells replacement tires to final consumers, its potential market includes millions of car owners around the world. But its fate in business markets depends on getting orders from only a handful of large automakers. This represents the difference in between business and consumer markets.

Accepted Answer

Business markets often have a more concentrated market structure, with fewer but larger buyers, such as automakers, compared to the more dispersed and numerous consumers in consumer markets.

Question 11

Interpersonal factors are a major influence on business buyer behaviour.

Accepted Answer

Interpersonal factors such as relationships, communication, and social interactions within and between organizations can significantly impact business buyer behavior, affecting decision-making processes and outcomes.

Question 12

A business buyer is considering a change in product specifications, terms, and possibly suppliers. This buying situation is referred to as a(n) .

Accepted Answer

A modified rebuy occurs when a business buyer wants to alter product specifications, terms, or suppliers, unlike a straight rebuy where the same product is purchased without changes.

Question 13

is the degree to which an innovation may be tried on a limited basis.

Accepted Answer

Divisibility refers to the extent to which an innovation can be tested or experimented with on a small scale before a full-scale adoption.

Question 14

Identify and describe the stages in the adoption process of a new product.

Accepted Answer

The answer of Identify and describe the stages in the...

Question 15

The main differences between the business market and the consumer market are found in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.

Accepted Answer

The business market and consumer market differ in terms of market structure, demand, buying units, and decision-making processes, with businesses often involving more complex and formalized purchasing decisions.

Question 16

Corning produces Gorilla Glass screens that are used in the production of laptops, tablets, and smartphones. Corning promotes its product to final consumers to increase business demand for digital devices made with the
Specialized, toughened glass. This illustrates .

Accepted Answer

Derived demand refers to the demand for a product that is driven by the demand for another product. In this case, Corning's promotion of Gorilla Glass to consumers is intended to increase the demand for digital devices that use their glass, thus illustrating derived demand.

Question 17

The total demand for many business products is not much affected by price changes, especially in the short run.

Accepted Answer

In the short run, the demand for many business products is inelastic, meaning that changes in price do not significantly affect the total demand due to factors like long-term contracts and the necessity of the products for business operations.

Question 18

Which of the following statements about buying centers is true?

Accepted Answer

The buying center is a dynamic and informal group of individuals within an organization who are involved in the purchasing decision process. It is not a fixed or formally identified unit, and roles can change depending on the purchase situation.

Question 19

In a straight rebuy, a buyer reorders something without any modifications.

Accepted Answer

A straight rebuy refers to the buyer repeating a purchase without any changes or modifications to the previous order.

Question 20

A company regularly purchases cleaning supplies from a vendor and orders relatively consistent amounts of the same products on each purchase from the same vendor. This is an example of a(n) .

Accepted Answer

The answer of A company regularly purchases cleaning supplies from...

Quiz 5: Understanding Consumer and Business Buyer Behaviour

Tom usually buys new devices such digital watches only after his friends and family start owning these devices. In this case, Tom is an innovator.