Your assignment at work is to divide buyers into different groups based on social class, lifestyle, and personality characteristics. After a planning session with the marketing and sales staff, you issue a memo to upper management recommending psychographic segmentation. You are right on target.

• A) False
• B) True
• C)
• D)

The buying decision process and buying center are not influenced by Individual factors.

• A) True
• B) False
• C)
• D)

The order-routine specification includes the final order with the chosen supplier or suppliers and lists items such as technical specifications, quantity needed, expected delivery time, return policies, and warranties.

• A) True
• B) False
• C)
• D)

In evaluating different market segments, a firm must look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.

• A) False
• B) True
• C)
• D)

Within the organization, buying activity consists of two major parts: the buying center and the buying decision process.

• A) True
• B) False
• C)
• D)

There are less participants involved in modified rebuy as compared to straight rebuy.

• A) True
• B) False
• C)
• D)

The buying decision process and buying center are not influenced by external environmental factors.

• A) True
• B) False
• C)
• D)

Because there is such variation among the economies of countries around the world, it is not practical to segment international markets on the basis of economic factors.

• A) True
• B) False
• C)
• D)

In the proposal solicitation stage of the business buying process, the buyer invites qualified suppliers to submit proposals.

• A) True
• B) False
• C)
• D)

The buying decision process and buying center are influenced by internal organizational factors.

• A) False
• B) True
• C)
• D)

Niche marketing offers smaller companies an opportunity to compete by focusing their limited resources on serving niches that may be unimportant to or overlooked by larger companies.

• A) True
• B) False
• C)
• D)

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

• A) True
• B) False
• C)
• D)

The widespread use of mass marketing has masked the fact that for centuries consumers were served as individuals where businesses practiced individual marketing.

• A) True
• B) False
• C)
• D)

Karachi Gifts divides its markets into units of nations, regions, and cities. Bombay uses geographic segmentation.

• A) True
• B) False
• C)
• D)

Derived demand means that the demand of an organization is dependent on consumer demand.

• A) True
• B) False
• C)
• D)

Lahore Florists segments markets into groups of nonusers, ex-users, potential users, first-time users, and regular users of its flowers and services. This firm uses usage rate as the segmentation approach.

• A) False
• B) True
• C)
• D)

This type of segmentation uses different marketing approaches for different time periods of peoples’ lives and different family situations. This segmentation method is called demographic.

• A) False
• B) True
• C)
• D)

In the general needs description of the buying process, the buyer describes the characteristics and quantity of the needed item.

• A) False
• B) True
• C)
• D)

A product’s position is the way the product is defined by the retailers who sell it to target markets. It is how it is defined on important attributes—the place the product occupies in the retailers’ minds relative to competing products.

• A) False
• B) True
• C)
• D)

The prime responsibility of the marketers is to understand what is going on within the organization to translate stimuli into purchase behavior.

• A) False
• B) True
• C)
• D)