Question 1

The real estate boom in Dubai in the early part of the 2000 decade, and the real estate bust as a result of the economic downturn in the latter part of the decade, are examples of such an
____________
A) dervied demand
B) sales cycle
C) straight rebuy
D) acceleration effect
E) inelastic demand

Accepted Answer

The acceleration effect describes how investment levels can increase or decrease due to changes in the growth rate of economic activity or demand. In Dubai's case, the real estate boom and subsequent bust were directly related to changes in economic conditions, illustrating the acceleration effect where the demand for real estate accelerated rapidly during the boom and then decelerated or reversed during the economic downturn.

Question 2

Across the Arab world, business buyers generally tend to concentrated in capital and other major cities. They are known as ________ buyers
A) derived
B) geographically concentrated
C) clustered
D) inelastic
E) close suppliers

Accepted Answer

Business buyers in the Arab world being concentrated in capital and major cities are referred to as geographically concentrated buyers.

Question 3

A good illustration of a member of an institutional buyer would be Indevco and Fine because they produce and manufacture their products differently for hospitals.

Accepted Answer

Institutional buyers typically refer to large organizations that make bulk purchases for investment purposes or operational needs, such as mutual funds, pension funds, or insurance companies, rather than companies like Indevco and Fine that are involved in manufacturing and production.

Question 4

While in most countries governments are a major buyer of goods and services the case is more pronounced in the Arab world where the government and public sector share of the GDP is very high, especially in oil producing countries.

Accepted Answer

In many Arab countries, particularly those that are oil-rich, the government plays a significant role in the economy through the ownership of resources and enterprises, leading to a high share of GDP attributed to the government and public sector. This includes substantial government spending on goods and services.

Question 5

The Four Seasons Hotel at the Kingdom Centre in Riyadh, Saudi Arabia, not only rents its facilities and
Ballrooms for wedding celebrations but it also offers wedding planning services and on-site wedding expert. According to Webster, with respect to buying center influences, senior managers should remember that people are ________.
A) buying surrogates that must appreciate that role
B) not buying products-they are buying solutions to problems
C) human shopping bots
D) buying products that they personally will not use
E) limited in their scope of overall business operations

Accepted Answer

B) This choice is correct because it emphasizes the idea that in a business context, especially in services like wedding planning, the focus is on providing solutions to customer problems rather than just selling a product. This perspective is crucial for understanding customer needs and delivering value.

Question 6

The Arab market is a particularly heterogeneous market with different countries displaying different ________ patterns.
A) subcultured
B) consumer behaviour
C) consumer-rating
D) income level
E) homogenous

Accepted Answer

The Arab market is diverse, with countries exhibiting varied consumer behavior patterns due to cultural, economic, and social differences.

Question 7

A child growing up in the Arab region is exposed to all of the following values EXCEPT ________.
A) the tendency to take fewer risks
B) collectivism
C) very liberal social attitudes
D) care for the family
E) respect for elderly people

Accepted Answer

The Arab region is generally known for its conservative social attitudes rather than very liberal ones. Collectivism, care for the family, respect for elderly people, and a tendency to take fewer risks are values that are more commonly associated with the cultures in this region.

Question 8

After the Arab revolutions that took place in 2011, NAS Trends took the opportunity to leverage on its ________ and come up with new themes such as: "Hope", "Faith", and "Raise your head up, you're Egyptian.
A) trademark
B) brand name
C) psychological approach to advertising
D) brand reference
E) brand personality

Accepted Answer

NAS Trends leveraged its brand personality, which refers to the human characteristics associated with a brand, to introduce themes that resonated emotionally with consumers, especially in the context of the Arab revolutions.

Question 9

The ________ is where attitude formation or change provokes much less thought and results from the association of a brand with either positive or negative peripheral cues.
A) peripheral route
B) objective route
C) behavioral route
D) subjective route
E) central route

Accepted Answer

The peripheral route to persuasion involves attitude changes that occur with minimal thought, often through the association of a product or idea with positive or negative cues, rather than through the evaluation of the core attributes of the product or idea itself. This contrasts with the central route, which involves a more thoughtful and deliberate process.

Question 10

In a recent poll, it was revealed that more Arab people want to invest in technology, such as laptops and desktops, than want to invest in furniture.

Accepted Answer

Recent trends and surveys have shown a growing interest among Arab populations in investing in technology, including laptops and desktops, as digital tools become increasingly essential for education, work, and entertainment, often prioritizing these investments over traditional ones like furniture.

Question 11

Virtually all human societies exhibit social stratification, most often in the form of social classes,relatively homogeneous and enduring divisions in a society, hierarchically ordered and with members who share similar values, interests, and behavior. Using information from the text describe the subdivisions that exist in the UAE society.

Accepted Answer

The answer of Virtually all human societies exhibit social stratification,...

Question 12

The UAE's population includes many non-native and immigrant families and individuals, which will affect marketing. Briefly, who are these people and how do marketers have to remember when they market to them?

Accepted Answer

The answer of The UAE's population includes many non-native and...

Question 13

In a traditional Arab world family, the wife has acted as the ________, especially for food, sundries and clothing items, but that is now changing and marketers need to adapt their campaigns accordingly.
A) purchasing agent
B) direct influence
C) indirect influence
D) shopper
E) decision maker

Accepted Answer

The wife traditionally acts as the purchasing agent in a traditional Arab world family, especially concerning food, sundries, and clothing items. This role involves making buying decisions and executing purchases on behalf of the family.

Quiz 5: Analyzing Business Markets and Analyzing Consumer Markets

The real estate boom in Dubai in the early part of the 2000 decade, and the real estate bust as a result of the economic downturn in the latter part of the decade, are examples of such an ____________

Across the Arab world, business buyers generally tend to concentrated in capital and other major cities. They are known as ________ buyers

A good illustration of a member of an institutional buyer would be Indevco and Fine because they produce and manufacture their products differently for hospitals.

While in most countries governments are a major buyer of goods and services the case is more pronounced in the Arab world where the government and public sector share of the GDP is very high, especially in oil producing countries.

The Arab market is a particularly heterogeneous market with different countries displaying different ________ patterns.

A child growing up in the Arab region is exposed to all of the following values EXCEPT ________.

After the Arab revolutions that took place in 2011, NAS Trends took the opportunity to leverage on its ________ and come up with new themes such as: "Hope", "Faith", and "Raise your head up, you're Egyptian.

The ________ is where attitude formation or change provokes much less thought and results from the association of a brand with either positive or negative peripheral cues.

In a recent poll, it was revealed that more Arab people want to invest in technology, such as laptops and desktops, than want to invest in furniture.

The UAE's population includes many non-native and immigrant families and individuals, which will affect marketing. Briefly, who are these people and how do marketers have to remember when they market to them?

In a traditional Arab world family, the wife has acted as the ________, especially for food, sundries and clothing items, but that is now changing and marketers need to adapt their campaigns accordingly.