MBA 706 Minseong Kim Exam 2 Questions with Complete Solutions (Latest 2025) What are business products? - Correct Answers ✅•Raw materials - Iron ore, chemicals, agricultural products, wood pulp •Component parts - Spark plugs, computer chips, pane glass, hard drives •Process materials - Food additives, wood sealants, paint colorings •Maintenance, repair, and operating products - Furniture, building security, janitorial services •Installations - Enterprise software, buildings, heat and air systems •Business services - Legal services, accounting services, consulting, research services Consumer Buying Process - Correct Answers ✅5 Steps
- Need Recognition
- Information Search
- Alternative Evaluation
- Purchase
- Post Purchase
Need - Correct Answers ✅Based on Internal vs external Stimuli 1 / 3
MBA 706 Minseong Kim Exam 2 Questions with Complete Solutions (Latest 2025) Occurs when the consumer's existing level of satisfaction and desired level of satisfaction are not the same Internal stimuli - Correct Answers ✅Hunger, Thirst, Fatigue, Transportation External Stimuli - Correct Answers ✅Advertising Window Shopping Interacting with Salesperson Want - Correct Answers ✅Desire that will satisfy the need
Ex: Car satisfies need for transportation
Demand - Correct Answers ✅Ability and Willingness to purchase backs up want What are outcomes consumers experience in the post- purchase stage, and how are they different? - Correct Answers ✅Delight Satisfaction Dissatisfaction Cognitive dissonance 2 / 3
MBA 706 Minseong Kim Exam 2 Questions with Complete Solutions (Latest 2025) Delight - Correct Answers ✅Product exceeds expectation Satisfaction - Correct Answers ✅Product meets expectation Dissatisfaction - Correct Answers ✅Product falls short of expectation Cognitive Dissonance - Correct Answers ✅Post-purchase doubt, unsure if expectations are met What are issues in the buying process? - Correct Answers ✅Consumers do not always follow stages in the sequence, can be swayed by brand loyalty, may skip stages (impulse buying) Involves making parallel decisions - what to buy, where to buy Bias towards a merchant limits buying power When does "need recognition" mean in the consumer buying process? - Correct Answers ✅When consumers recognize they have an unmet need - begins the buying process
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