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LSUS MBA 706 Module 1| Chap 1-3 Questions and Answers
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LSUS MBA 706 Module 1| Chap 1-3 Questions and Answers
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LSUS MBA 706 Module 1| Chap 1-3 Questions andAnswers
Sales Orientation CORRECT ANS-Focus on convincing the customer that your product
works best for them
Customer Orientation CORRECT ANS-Focus on identifying customers' wants BEFORE
formulating attractive solutions
Three phases of the purchase process CORRECT ANS-Pre-purchase,
purchase,
post-purchase
pre-purchase phase CORRECT ANS-the customer identifies that something is lacking—
there is a need or a desire to be satisfied
identify a want
search possible solutions
build consideration set
purchase phase CORRECT ANS-the consumer is creating a consideration set that includes
all the brands that are deemed potential candidates for purchase and that excludes the
brands that have been rejected
narrow "consideration set"
decide on a retail channel
post-purchase phase CORRECT ANS-buyers assess their purchase and the purchase process
customer satisfaction
, LSUS MBA 706 Module 1| Chap 1-3 Questions and
Answers
likelihood to repeat
generate word of mouth
B2C CORRECT ANS-business-to-consumer
components of attitude CORRECT ANS-beliefs and importance weights
heuristic CORRECT ANS-a short-cut in decision making
anchor and adjust CORRECT ANS-we anchor to the information of the higher price, but
then we adjust to the lower price and are happy to see that we'd spend less
reference dependence CORRECT ANS-we interpret the lower price by comparing it to the
reference point of the higher price and think its a good deal
Geert Hofstede's Cultural Dimensions CORRECT ANS-1. Power Distance
2. Individualism
3. Masculinity/Femininity
4. Uncertainty-avoidance
5. Long-term orientation
Power distance CORRECT ANS-clear delineation between those who have power and those
who do not
individualism CORRECT ANS-people mostly look out for themselves
collectivism: people's identities and esteem are rooted in the groups to which they belong
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