CPM Buyers & Markets 2

Question 1

Which concept describes the total revenue a customer generates for a business over the entire relationship?

Accepted Answer

Customer lifetime value

Answer

Customer lifetime value (CLV) measures the total net profit a company expects from a customer throughout the entire business relationship.

Question 2

A consumer who purchases a product on impulse without prior planning is exhibiting which type of buying behavior?

Accepted Answer

Impulse buying

Answer

Impulse buying occurs when a consumer makes an unplanned purchase driven by sudden desire rather than deliberate decision-making.

Question 3

In B2B markets, which factor most commonly distinguishes buying decisions from consumer markets?

Accepted Answer

Decisions involve multiple stakeholders

Answer

B2B purchasing typically involves a buying center with multiple participants including users, influencers, buyers, deciders, and gatekeepers.

Question 4

Market segmentation based on personality, lifestyle, and values is called:

Accepted Answer

Psychographic segmentation

Answer

Psychographic segmentation divides consumers based on psychological characteristics such as personality traits, values, interests, and lifestyles.

Question 5

The 'early majority' in the diffusion of innovations model represents approximately what percentage of the market?

Accepted Answer

34%

Answer

According to Rogers' diffusion of innovations, the early majority makes up about 34% of adopters and deliberates carefully before adopting a new product.

(CPM) Certified Professional Marketer Practice Test

(CPM) Certified Professional Marketer Practice Test

CPM Buyers & Markets 2