Buyers & Markets Flashcards
7 cards from real CPM practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Buyers & Markets flashcards as text
Which consumer decision-making model suggests that buyers process information through a sequence of cognitive, affective, and conative stages?
Answer: AIDA model
The AIDA model (Attention, Interest, Desire, Action) represents the cognitive-affective-conative hierarchy consumers move through toward a purchase.
A 'straight rebuy' in organizational buying refers to:
Answer: Reordering a familiar product with no modifications
A straight rebuy is a routine repurchase where the buyer reorders from an existing supplier with no changes to specifications, price, or terms.
Consumer 'involvement level' in purchasing decisions is most strongly influenced by:
Answer: The perceived risk and personal relevance of the purchase
Higher involvement occurs when consumers perceive greater risk (financial, social, or functional) and when the purchase is personally meaningful or identity-related.
The 'evoked set' in consumer decision-making refers to:
Answer: The limited set of brands a consumer actively considers for purchase
The evoked set (or consideration set) consists of the handful of brands a consumer finds acceptable and actively evaluates when making a purchase decision.
Market demand is best described as:
Answer: The total volume that would be bought by a defined group in a defined period under defined conditions
Market demand is the total quantity of a product that all buyers in a defined market would purchase given specific environmental conditions and marketing efforts.
Which of the following is a key characteristic of the 'innovators' adopter category in the diffusion of innovations?
Answer: They are venturesome and willing to take risks on new products
Innovators represent the first 2.5% of adopters and are characterized by their risk tolerance, financial resources, and enthusiasm for new technologies.
Which segmentation variable would be most useful for a sunscreen brand targeting consumers in high UV-index regions?
Answer: Geographic segmentation
Geographic segmentation is ideal for targeting consumers by location-specific factors like climate, allowing the sunscreen brand to focus on sunny, high UV-index regions.