Multiple Choice Answers

Consumers frequently use the Internet during the __________ stage of the consumer decision process.
A. need recognition
B. postpurchase evaluation
C. information search
D. situational factor analysis
André was afraid his condominium would look shabby to his future in-laws, so he had it painted just before their visit. André was addressing his __________ risk.
A. psychological
B. financial
C. performance
D. cultural
Consumers consider universal, retrieval, and evoked sets during the __________ stage of the consumer decision process.
A. need recognition
B. postpurchase evaluation
C. information search
D. evaluation of alternatives
How a product is presented can influence the decision-making process. Along with brand and price, this is known as:
A. a determinant attribute.
B. an evoked set.
C. a decision heuristic.
D. product leverage.

A __________ is a need or want that is strong enough to cause the person to seek satisfaction.
A. price
B. motive
C. attitude
D. perception
Among the factor affecting the consumer decision-making process is/are __________, the way consumers spend their time and money to live
A. lifestyle
B. life standards
C. the demonstration effect
D. external validation
Many Hollywood movie stars were among the first to buy electric and hybrid vehicles. These stars often became __________, influencing other consumers’ behavior.
A. reference groups
B. internal loci of control
C. cultural icons
D. cognitive parameters
In most countries, __________ tends to be one of the largest purchasers of goods and services.
A. importers
B. the central government
C. NAICS
D. consumer buying centers
After need recognition, a business considers alternatives and comes up with __________ that suppliers might use to develop their proposals to supply the product.
A. derived demand
B. initiator instructions
C. consensus classifications
D. product specifications
At many universities, education faculty members were among the first to ask for personal computers. These education faculty were __________ in the buying center.
A. buyers
B. initiators
C. influencers
D. users
The size and composition of a business buying center will likely vary depending upon:
A. the size of the meeting space available.
B. the importance of the purchase decision to be made.
C. demography of the target market.
D. influence of the consumer.
Most B2B buying situations can be categorized as new buys, modified rebuys, and:
A. significant others.
B. straight rebuys.
C. angular dilemmas.
D. RFPs.
The WTO provides all of the following functions EXCEPT:
A. it maintains the international monetary system.
B. it acts as a forum for trade negotiations.
C. it settles trade disputes.
D. it reviews national trade policies.
__________ is international trade of goods and services without using currency.
A. Exchange control
B. Countertrade
C. Tariff trading
D. Quota trade
The __________ represents the highest level of integration among participating nations, involving both economic and monetary agreements.
A. NAFTA
B. EU
C. GNI
D. ASEAN
NAFTA, like other free trade agreements, is limited to trade-related issues such as:
A. labor mobility.
B. monetary union.
C. tariffs and quotas.
D. banking and financial union.
When assessing __________, a firm will consider its access to capital, current markets, manufacturing capacity, and proprietary assets.
A. infrastructure
B. competitive vitality
C. internal capabilities
D. market-relevant competencies
Many of the best-known American retailers, like KFC and McDonalds, have expanded globally using:
A. franchising.
B. strategic alliances.
C. joint venture.
D. direct investment.
Language, customs, culture, and literacy levels significantly affect global __________ strategies.
A. pricing
B. communication
C. logistical
D. investment
Limited problem solving usually relies on:
A. past experience more than on external information.
B. situational stimuli and attitudes.
C. external search for information.
D. financial analysis of performance risk.