Marketing - Study Mode
[#196] Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to which of the following options?
Correct Answer
(A) Customer perceived value
Explanation
Solution: Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to Customer perceived value.
[#197] Buying goods and services for further processing or for use in the production process refers to which of the following markets?
Correct Answer
(C) Business markets
Explanation
Solution: Buying goods and services for further processing or for use in the production process refers to Business markets. Marketplaces where organizations purchase raw materials, natural resources and components of other products for their resale or for use in manufacturing another product. Business markets are generally made up of businesses which buy products and raw materials for their own operation.
[#198] Product planners need to think about products and services on three levels. Each level adds more customer value. Which one of the following is the most basic level that addresses the question, “What is the buyer really buying?”
Correct Answer
(C) Core benefit
Explanation
Solution: Core Benefit Proposition tells about what a consumer would perceive as the benefit in purchasing a new product compared to that in buying a competitor's product.
[#199] The mental act, condition or habit of placing trust or confidence in another shows which of the following options?
Correct Answer
(B) Belief
Explanation
Solution: The mental act, condition or habit of placing trust or confidence in another shows Belief. A Belief is a descriptive thought that a person holds about something.
[#200] How do consumers respond to various marketing efforts the company might use? What is a starting point of a buyer’s behavior?
Correct Answer
(D) Stimulus-response Model
Explanation
Solution: This is stimulus-response model of the buyer behaviour. It shows stimuli as input and buyer response as output with the process of decision-making in the middle which depends on the buyer's characteristics.