BA425_Exam2-DanielMunro - BA425 Marketing Management...

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Understanding Business Strategy Concepts Plus
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Chapter 10 / Exercise 1
Understanding Business Strategy Concepts Plus
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BA425 Marketing Management[email protected]Daniel MunroExam 2 Chapters 5-8Short Answer (5 points each) Date Due: 2/18/2017Chapter 51.Within the buying process, a consumer gathers information about the competing brands of a product and their features. The consumer then advances through four sets with respect to brands before a decision is reached. List those four sets.Four key psychological processes—motivation, perception, learning, and memory—fundamentally influence consumer responses.(Kotler, Philip T.; Keller, Kevin Lane. Framework for Marketing Management (Page 72). Pearson Education. Kindle
2.People can emerge with different perceptions of the same object because of three perceptual processes. List and briefly characterize these processes.
3.Researchers have found that buyer-supplier relationships differed according to four factors: availability of alternatives; importance of supply; complexity of supply; and supply market dynamism. They classified buyer-supplier relationships into eight different categories. List those categories. 1. Basic buying and selling- Simple, routine exchanges with moderate levels of cooperation and information exchange. 2. Bare bones- These relationships require more adaptation by the seller and less cooperation and information exchange. 3. Contractual transaction- Defined by contract, these generally have low levels of trust, cooperation, and interaction. 4. Customer supply- In this traditional supply situation, competition rather than cooperation is the dominant form of governance. 5. Cooperative systems- Participants are united in operational ways, but neither demonstrates structural commitment through legal means or adaptation. 6. Collaborative- Much trust and commitment through collaboration can lead to true partnership. 7. Mutually adaptive- Buyers and sellers make many relationship-specific adaptations, but without necessarily achieving strong trust or cooperation. 8. Customer is king- In this close, cooperative relationship, the seller adapts to meet the customer’s needs withoutexpecting much adaptation or change in exchange.
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Understanding Business Strategy Concepts Plus
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Chapter 10 / Exercise 1
Understanding Business Strategy Concepts Plus
Hoskisson/Ireland
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