Podcast
Questions and Answers
Mass marketing is when an organization decides to treat the entire market as a:
Mass marketing is when an organization decides to treat the entire market as a:
Boutique medical practices in which patients pay a significant amount upfront to ensure that they have personalized concierge service with their doctor is an example of a:
Boutique medical practices in which patients pay a significant amount upfront to ensure that they have personalized concierge service with their doctor is an example of a:
In health care, it has been found that hospitals with higher profitability tend to be those with:
In health care, it has been found that hospitals with higher profitability tend to be those with:
Environmental assessment involves the acquisition and use of information about events, trends, and relationships in the environment.
Environmental assessment involves the acquisition and use of information about events, trends, and relationships in the environment.
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The decline in buying power when prices rise faster than income is called inflation.
The decline in buying power when prices rise faster than income is called inflation.
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By the end of this decade, healthcare spending will reach almost 50% of the U.S. gross domestic product (GDP).
By the end of this decade, healthcare spending will reach almost 50% of the U.S. gross domestic product (GDP).
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Healthcare spending in the United States is higher than in all Western countries except Germany, and health outcomes are higher.
Healthcare spending in the United States is higher than in all Western countries except Germany, and health outcomes are higher.
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Higher healthcare expenditures in the United States are attributed to technology, the fragmented health insurance system, and pharmaceutical costs.
Higher healthcare expenditures in the United States are attributed to technology, the fragmented health insurance system, and pharmaceutical costs.
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Although almost half of all adults search the Internet for health information, most still seek out medical attention after doing so.
Although almost half of all adults search the Internet for health information, most still seek out medical attention after doing so.
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The vast majority of states are doing well in terms of either price or quality transparency information provided to consumers.
The vast majority of states are doing well in terms of either price or quality transparency information provided to consumers.
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The reviews of hospital quality provided on social media sites such as Yelp do not relate in any way to real, objective hospital quality ratings.
The reviews of hospital quality provided on social media sites such as Yelp do not relate in any way to real, objective hospital quality ratings.
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As more women have entered the medical profession, the compensation gap between the genders has decreased substantially.
As more women have entered the medical profession, the compensation gap between the genders has decreased substantially.
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The majority of the U.S. population is now composed of people of color.
The majority of the U.S. population is now composed of people of color.
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When price levels rise faster than income:
When price levels rise faster than income:
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Is the money a consumer has remaining after taxes and paying for necessities.
Is the money a consumer has remaining after taxes and paying for necessities.
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Healthcare costs as a percentage of the gross domestic product (GDP):
Healthcare costs as a percentage of the gross domestic product (GDP):
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Compared to other Western economies, the United States spends more on health care. What is the outcome of this high spending on health care?
Compared to other Western economies, the United States spends more on health care. What is the outcome of this high spending on health care?
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Consumer income is composed of:
Consumer income is composed of:
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The amount of money a consumer has left after paying for food, clothing, and shelter is referred to as:
The amount of money a consumer has left after paying for food, clothing, and shelter is referred to as:
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Surprise medical bills are:
Surprise medical bills are:
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Geotechnology will increasingly allow:
Geotechnology will increasingly allow:
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In many metropolitan markets, the insurance provider competitive scenario could best be described as:
In many metropolitan markets, the insurance provider competitive scenario could best be described as:
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After women search for healthcare information, they engage in conversations with their physicians regarding their findings as it affects their own care and that of their families.
After women search for healthcare information, they engage in conversations with their physicians regarding their findings as it affects their own care and that of their families.
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Physicians have been under increasing pressure to provide care that they deem inappropriate in order to receive positive ratings in the postpurchase evaluations patients post on the websites of the doctors' institutions and in social media forums.
Physicians have been under increasing pressure to provide care that they deem inappropriate in order to receive positive ratings in the postpurchase evaluations patients post on the websites of the doctors' institutions and in social media forums.
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Almost half of all Google-related searches are health related.
Almost half of all Google-related searches are health related.
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A parent has taken her child to a new pediatric group. After leaving, she wonders if she made the right choice in going to this particular medical practice. This would be an example of the parent experiencing cognitive dissonance.
A parent has taken her child to a new pediatric group. After leaving, she wonders if she made the right choice in going to this particular medical practice. This would be an example of the parent experiencing cognitive dissonance.
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Some healthcare organizations have started alumni organizations for their past patients. This approach is a strategy to reduce psychological risk.
Some healthcare organizations have started alumni organizations for their past patients. This approach is a strategy to reduce psychological risk.
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Choosing between two competing alternatives where the one not chosen is priced slightly lower but the one chosen is slightly higher in quality is referred to as cognitive dissonance.
Choosing between two competing alternatives where the one not chosen is priced slightly lower but the one chosen is slightly higher in quality is referred to as cognitive dissonance.
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Decision freedom is the principle of being able to choose from many competing brands and not being restricted to just a few.
Decision freedom is the principle of being able to choose from many competing brands and not being restricted to just a few.
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Journey maps are created from the perspective of the organization to map how it delivers care to the patient or customer.
Journey maps are created from the perspective of the organization to map how it delivers care to the patient or customer.
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Deciding which surgeon to choose for a triple-bypass procedure would be considered a limited decision-making process.
Deciding which surgeon to choose for a triple-bypass procedure would be considered a limited decision-making process.
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Choosing a health plan for one's family can be a high-involvement decision.
Choosing a health plan for one's family can be a high-involvement decision.
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Routine decision-making can involve both low- and high-involvement purchase situations.
Routine decision-making can involve both low- and high-involvement purchase situations.
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Because of the complexity of healthcare situations, consumers often rely on heuristic cues for decision making.
Because of the complexity of healthcare situations, consumers often rely on heuristic cues for decision making.
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Brand loyalty is when the consumer chooses the same product or service for high-involvement situations.
Brand loyalty is when the consumer chooses the same product or service for high-involvement situations.
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When physicians were tiered on the lower level by the insurance company, it had the dramatic effect of damaging patient loyalty to those doctors.
When physicians were tiered on the lower level by the insurance company, it had the dramatic effect of damaging patient loyalty to those doctors.
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Men use their social networks and their families in complex decision-making situations for health care.
Men use their social networks and their families in complex decision-making situations for health care.
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Architecture of participation refers to patients who willingly participate in clinical trials and share their experiences on a website that others can read.
Architecture of participation refers to patients who willingly participate in clinical trials and share their experiences on a website that others can read.
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Nudging is a core tactic in the Health Belief Model.
Nudging is a core tactic in the Health Belief Model.
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Over-the-counter pharmaceutical purchases can be characterized as a limited decision-making situation.
Over-the-counter pharmaceutical purchases can be characterized as a limited decision-making situation.
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Wellness programs would be positioned as a lower order in Maslow's hierarchy of needs.
Wellness programs would be positioned as a lower order in Maslow's hierarchy of needs.
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Attitudes are one's enduring cognitions or feelings.
Attitudes are one's enduring cognitions or feelings.
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It is essential for marketers to understand consumers' attitudes because individuals always act on their attitudes.
It is essential for marketers to understand consumers' attitudes because individuals always act on their attitudes.
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VALS measures consumers' value systems and is a useful tool for assessing social values.
VALS measures consumers' value systems and is a useful tool for assessing social values.
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In the VALS system, achievement-oriented individuals are heavily influenced by the actions and approval of others.
In the VALS system, achievement-oriented individuals are heavily influenced by the actions and approval of others.
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“Birds of a feather flock together” is the principle behind the Potential Rating Index by Zip Marked (PRIZM) system.
“Birds of a feather flock together” is the principle behind the Potential Rating Index by Zip Marked (PRIZM) system.
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PRIZM is like VALS and is based on attitudes.
PRIZM is like VALS and is based on attitudes.
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The foundation of PRIZM is demographics, media habits, and psychographics.
The foundation of PRIZM is demographics, media habits, and psychographics.
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The changes in a person's behavior as a result of past experiences are referred to as learning.
The changes in a person's behavior as a result of past experiences are referred to as learning.
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Learning occurs as a result of stimulus, drive, cue, response, and reward.
Learning occurs as a result of stimulus, drive, cue, response, and reward.
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Delineation is the ability to determine differences between stimuli.
Delineation is the ability to determine differences between stimuli.
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A patient has a positive experience in a hospital's emergency department and then assumes that the inpatient care may also be good. This is an example of generalization.
A patient has a positive experience in a hospital's emergency department and then assumes that the inpatient care may also be good. This is an example of generalization.
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A consumer pays attention only to the advertisements for the medical group that they go to on a regular basis. This is an example of selective comprehension.
A consumer pays attention only to the advertisements for the medical group that they go to on a regular basis. This is an example of selective comprehension.
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Interpreting information consistent with one's attitudes and beliefs is selective comprehension.
Interpreting information consistent with one's attitudes and beliefs is selective comprehension.
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Financial, social, performance, and physical risks can all be perceived risks in the purchase of a product.
Financial, social, performance, and physical risks can all be perceived risks in the purchase of a product.
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Trust in one's physician can reduce the risk or fear a person may have in a situation.
Trust in one's physician can reduce the risk or fear a person may have in a situation.
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The family life cycle for most everyone is a static process where individuals go through six distinct steps from when they are single as young adults to when they are widows or widowers.
The family life cycle for most everyone is a static process where individuals go through six distinct steps from when they are single as young adults to when they are widows or widowers.
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The modified family life cycle is the stages a person passes through from birth through the death of a spouse.
The modified family life cycle is the stages a person passes through from birth through the death of a spouse.
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In syncratic decision making, the woman tends to dominate the decision making for family-related issues.
In syncratic decision making, the woman tends to dominate the decision making for family-related issues.
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An example of an autonomous decision-making framework is when a husband or wife makes decisions independently.
An example of an autonomous decision-making framework is when a husband or wife makes decisions independently.
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Social class divisions in society are relatively unstable.
Social class divisions in society are relatively unstable.
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A dissociative reference group is one that an individual used to belong to but no longer does.
A dissociative reference group is one that an individual used to belong to but no longer does.
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Physicians in solo practice tend to adopt new drugs quicker than those in group practices.
Physicians in solo practice tend to adopt new drugs quicker than those in group practices.
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The more visible a product or service is in use, the more influential the reference group influence is on consumer choice.
The more visible a product or service is in use, the more influential the reference group influence is on consumer choice.
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Hispanics make up the largest ethnic minority group in the United States.
Hispanics make up the largest ethnic minority group in the United States.
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The Hispanic population continues to grow because Latinos continue to come from Mexico at an increasing rate.
The Hispanic population continues to grow because Latinos continue to come from Mexico at an increasing rate.
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The largest concentrations of Hispanics are in California and Florida.
The largest concentrations of Hispanics are in California and Florida.
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As company size increases, the likelihood of offering health insurance to their employees is increasingly likely to decline.
As company size increases, the likelihood of offering health insurance to their employees is increasingly likely to decline.
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Industrial buyer behavior differs from consumer behavior because the demand is derived.
Industrial buyer behavior differs from consumer behavior because the demand is derived.
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In derived demand, the demand for one product or service is correlated with another product or service.
In derived demand, the demand for one product or service is correlated with another product or service.
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In industrial markets demand tends to be price elastic.
In industrial markets demand tends to be price elastic.
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Industrial markets often differ from consumer markets in that the buyers are more geographically concentrated and have greater total sales volume.
Industrial markets often differ from consumer markets in that the buyers are more geographically concentrated and have greater total sales volume.
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The major difference between consumer buyers and industrial buyers is that in industrial buying there are purchasing requirements.
The major difference between consumer buyers and industrial buyers is that in industrial buying there are purchasing requirements.
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Industrial buyers often have a buying center that requires many people across the organization to be involved in the purchase.
Industrial buyers often have a buying center that requires many people across the organization to be involved in the purchase.
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Organizations buy as frequently as consumers.
Organizations buy as frequently as consumers.
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In industrial buying situations, the initiator is usually the key decision maker in the buying group.
In industrial buying situations, the initiator is usually the key decision maker in the buying group.
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New task buying in industrial situations is similar to modified problem solving in consumer decision making.
New task buying in industrial situations is similar to modified problem solving in consumer decision making.
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A company buying paper clips or other office supplies would be doing a straight rebuy buying process.
A company buying paper clips or other office supplies would be doing a straight rebuy buying process.
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The buying center typically has individuals playing the following roles: users, influencers, gatekeepers, controllers, and deciders.
The buying center typically has individuals playing the following roles: users, influencers, gatekeepers, controllers, and deciders.
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Influencers are individuals both inside and outside the organization who affect the final decision of the buying center.
Influencers are individuals both inside and outside the organization who affect the final decision of the buying center.
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Gatekeepers are individuals who control information flow to the buying center.
Gatekeepers are individuals who control information flow to the buying center.
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In what type of industry is the internal search process often sufficient for the consumer to move on to the purchase stage?
In what type of industry is the internal search process often sufficient for the consumer to move on to the purchase stage?
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Purchases that involve significant risk, such as the selection of a neurosurgeon, are typically referred to as being:
Purchases that involve significant risk, such as the selection of a neurosurgeon, are typically referred to as being:
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An extended search is often warranted in which type of decision situation?
An extended search is often warranted in which type of decision situation?
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In health care, limited decision making often occurs in which type of purchase situation?
In health care, limited decision making often occurs in which type of purchase situation?
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Which of the following would be an effective strategy for a medical group to reduce post purchase dissonance?
Which of the following would be an effective strategy for a medical group to reduce post purchase dissonance?
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The Health Belief Model is based on two factors:
The Health Belief Model is based on two factors:
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Which of the following is true of loss aversion?
Which of the following is true of loss aversion?
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An example of ___ is when individuals turn to sites like diabetesconnect.com that harness collective intelligence.
An example of ___ is when individuals turn to sites like diabetesconnect.com that harness collective intelligence.
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The goals or needs that propel an individual to action are:
The goals or needs that propel an individual to action are:
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Maslow developed his hierarchy of needs to:
Maslow developed his hierarchy of needs to:
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- Which of the following is true of consumer attitudes?
- Which of the following is true of consumer attitudes?
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- Which of the following is used to develop geodemographic profiles of consumers?
- Which of the following is used to develop geodemographic profiles of consumers?
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Learning is the result of which five factors?
Learning is the result of which five factors?
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Past reinforced behavior extended to other stimuli is referred to as a(n):
Past reinforced behavior extended to other stimuli is referred to as a(n):
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Because of ___, consumers are exposed to a large number of messages but do not attend to all of them.
Because of ___, consumers are exposed to a large number of messages but do not attend to all of them.
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Interpreting information from advertisements in a manner that is consistent with one’s beliefs is:
Interpreting information from advertisements in a manner that is consistent with one’s beliefs is:
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Repetition in advertising is implemented to counter the problem of:
Repetition in advertising is implemented to counter the problem of:
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Adherence to treatment by a patient is affected by:
Adherence to treatment by a patient is affected by:
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In the traditional family life cycle, over time, family decision making becomes:
In the traditional family life cycle, over time, family decision making becomes:
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In industrial markets, demand is often derived, which means that demand for the product or service is derived:
In industrial markets, demand is often derived, which means that demand for the product or service is derived:
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An insurance company decided to decrease insurance premiums. It saw no significant increase in the number of subscribers. In this instance, the demand might be described as:
An insurance company decided to decrease insurance premiums. It saw no significant increase in the number of subscribers. In this instance, the demand might be described as:
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A major complexity of trying to market a product or service to an organization with a buying center is that:
A major complexity of trying to market a product or service to an organization with a buying center is that:
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In industrial purchasing situations, straight rebuy is often handled by:
In industrial purchasing situations, straight rebuy is often handled by:
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Purchasing office supplies through an office supply company like W.H. Mason would be an example of an industrial purchase situation that is a:
Purchasing office supplies through an office supply company like W.H. Mason would be an example of an industrial purchase situation that is a:
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Study Notes
Mass Marketing
- Mass marketing is when an organization treats the entire market as a group of patients who want the same services.
- This is different from treating patients with diverse needs (heterogeneous).
Boutique Medical Practices
- Boutique medical practices offer personalized concierge service to patients, typically with an upfront payment.
- This is an example of market concentration strategy.
Hospital Profitability
- Hospitals with higher profitability generally have a higher market share.
- This is in contrast to hospitals with lower market share in niche markets.
Environmental Assessment
- Environmental assessment involves gathering information about events, trends, and relationships in the environment.
- The provided answer key indicates this is false.
Buying Power and Inflation
- Inflation is the decline in buying power when prices rise faster than income.
- This statement is true.
Healthcare Spending
- Healthcare spending in the U.S. is projected to reach nearly 50% of GDP by the end of the decade.
- The statement is false.
Healthcare Spending Compared to Other Countries
- Healthcare spending in the U.S. is higher than in most Western countries, and health outcomes are not higher.
- This is false.
Healthcare Expenditures
- Healthcare expenditure in the U.S. is attributed to advanced technology, fragmented insurance, and pharmaceutical costs.
- This is true.
Health Information Online
- A majority of adults search the internet for health information, but usually follow up with a doctor after.
- This is true.
Price and Quality Transparency
- The vast majority of states do not offer sufficient price or quality transparency information to consumers.
- This is false.
Social Media Hospital Reviews
- Online reviews of hospital quality, like those on Yelp, are not necessarily objective or accurate reflections of real quality.
- This is false.
Gender Compensation Gap in Medicine
- The compensation gap between genders in the medical profession has not decreased substantially despite more women entering the field.
- This is false.
Consumer Income
- Consumer income consists of gross, discretionary, and disposable income.
Consumer Disposable Income
- Disposable income is the money available after paying for necessities.
Healthcare Cost Percentage of GDP
- Healthcare costs as a percentage of GDP fluctuate significantly each decade.
- They have gone from a high percentage to a relatively low percentage.
- This is true.
U.S. Population Composition
- The majority of the U.S. population is not composed entirely of people of color.
- This is false.
Health Care Spending and Health Outcomes
- The U.S. spends more on healthcare than other Western countries.
- Average health outcomes (life expectancies) are lower than those in other OECD countries.
Consumer Income Components
- Consumer income is composed of gross, discretionary, and disposable income.
Disposable Income Definition
- Disposable income is the amount of money left after paying for necessities like food, clothing, and shelter.
Surprise Medical Bills
- Surprise medical bills are charges for procedures, services, or tests from healthcare providers not in the patient's insurance network.
Geotechnology in Healthcare
- Geotechnology will advance tracking pandemics, support in-place aging, and facilitate inter-community interactions.
Metropolitan Market Competitive Scenarios
- Many metropolitan markets exhibit competitive scenarios best described as oligopolies.
Health Information Seeking
- Most adults consult online for health info but many still see doctors in person after.
Healthcare Organization Alumni Associations
- Healthcare organization alumni associations for former patients are a strategy intended to mitigate psychological risks.
Decision Freedom
- Decision freedom allows for choice among many competing options.
Journey Maps in Healthcare
- Journey maps in healthcare present the organization's perspective regarding care delivery to patients.
Surgeon Selection
- Choosing a surgeon for a triple bypass is considered a high-involvement decision.
Health Plan Selection
- Selecting a health plan falls under the category of high-involvement decisions.
Consumer Decision Making in Healthcare
- Decisions involving healthcare are often complex, inducing consumers to rely on heuristics.
Loyalty to Doctors
- Tiered physician payment structures do not necessarily damage patient loyalty to those physicians.
Male/Female Healthcare Decisions
- Men often rely on their social networks and family in complex healthcare decision-making scenarios.
Participation in Clinical Trials
- Patients actively participate in clinical trials and share their experiences.
Nudging in Healthcare
- Nudging is not a core tactic implemented in the Health Belief Model.
Over-the-counter Pharmaceuticals
- Purchasing over-the-counter pharmaceuticals is considered a limited decision-making process.
Maslow's Hierarchy of Needs
- Wellness programs are not considered within lower-order needs criteria in Maslow's hierarchy.
Consumer Attitudes and Behaviors
- Consumer attitudes are enduring cognitions or feelings.
- Consumer behaviors are not directly correlated to attitudes, as consumers don't always act based on their feelings.
VALS System and Consumer Values
- VALS is a tool enabling the measure of consumer values
- It does not measure social values.
Geodemographic Profiles
- PRIZM and others are used to develop geodemographic profiles of consumers.
Learning
- Learning results from drive, stimulus, cue, response, and reinforcement.
Stimulus Generalization
- Past experiences with a similar stimulus influence current behavior in a similar manner, called generalization.
Selective Exposure
- Selecting specific information to expose yourself to is known as selective exposure (advertising)
Healthcare Treatments
- Taking medications for epilepsy-related care is frequently associated with financial or physical risks.
Patient Treatment Adherence
- Trust in the physician and trust in the medication impacts patient treatment adherence.
Family Decision-Making
- In traditional family life cycles, decision-making tends to become a shared responsibility over time, as wives' income increases.
Reference Group Influence
- A reference group's impact is significantly heightened if the product or service is readily observable by other people.
Industrial Purchasing Behavior
- In industrial buying, a purchasing agent is often the point person for straight rebuy situations.
Industrial Purchasing Situations
- Often, industrial buying involves many stakeholders and decision-makers within an organization.
Rebuy Purchases
- Straight rebuy purchasing involves routinely ordering existing goods.
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Description
Test your knowledge on various healthcare marketing strategies, including mass marketing and boutique practices. Explore the relationship between hospital profitability and market share, as well as the impact of inflation on buying power. Assess your understanding of environmental assessments in healthcare.
