Types of Markets in Commerce

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App

Questions and Answers

What type of markets comprise the Business Buying Behavior as mentioned in the text?

  • Government Markets
  • Retail Markets
  • Institutional Markets (correct)
  • Producer Markets

What is the primary reason for the increase in reluctance of companies to deal with government markets?

  • Time and uncertainty costs (correct)
  • Low profitability
  • Fluctuating demand
  • Fiscal policy fluctuations

Which type of business purchase involves evaluation of alternative products?

  • Straight Rebuy
  • New Task Purchase
  • Modified Rebuy (correct)
  • Retail Purchase

What is the primary characteristic that distinguishes NFP organizations from commercial organizations in institutional markets?

<p>Fewer resources (A)</p> Signup and view all the answers

In which type of business purchase do buyers purchase the same products routinely from established vendors they have dealt with?

<p>Straight Rebuy (A)</p> Signup and view all the answers

What is the primary reason for the declining gross domestic product generated by manufacturing in Australia and NZ?

<p>&quot;Offshoring&quot; (A)</p> Signup and view all the answers

What is the primary purpose of researching needs and wants in the context of marketing?

<p>To develop more sought-after products (D)</p> Signup and view all the answers

In the CBE framework of marketing, what does the 'Engage' stage primarily focus on?

<p>Behavior change and market intelligence (D)</p> Signup and view all the answers

What type of data is characterized by containing a greater variety, statistical power, and velocity that traditional data processing software may struggle with?

<p>Big data (B)</p> Signup and view all the answers

How does the linkage of data with informed decision-making contribute to business performance improvement?

<p>By enabling the discovery of new insights (A)</p> Signup and view all the answers

Which aspect of behavior does big data analysis primarily focus on?

<p>Search queries and browsing behavior (C)</p> Signup and view all the answers

In the context of the CBE framework, what does 'Build' primarily refer to?

<p>Marketing mix development (C)</p> Signup and view all the answers

Which of the following is NOT one of the four categories that make up the overall business market?

<p>Consumer Markets (C)</p> Signup and view all the answers

What is the primary distinguishing characteristic of business markets compared to consumer markets?

<p>All of the above (D)</p> Signup and view all the answers

Which of the following best describes the extended decision making process for buyers?

<p>High involvement with the purchase decision in a deliberate and detailed way (C)</p> Signup and view all the answers

Industrial distributors are classified as which type of business market participant?

<p>Reseller Markets (A)</p> Signup and view all the answers

What factor is important in determining an effective marketing strategy for a product or service?

<p>All of the above (D)</p> Signup and view all the answers

Which type of purchase decision is characterized by very little buyer involvement, no planning, and the decision made before the need is recognized?

<p>Impulse purchases (A)</p> Signup and view all the answers

Flashcards are hidden until you start studying

Related Documents

MCV Notes PDF

More Like This

Market Research Types
18 questions

Market Research Types

ConciliatoryJustice4172 avatar
ConciliatoryJustice4172
Tipos de Mercados en Economía
24 questions
Use Quizgecko on...
Browser
Browser