MKT 350 Chapter 1

The difference between a need and a want

-Need is something a person must have to live. A need is a basic biological motive that cannot be created by marketing. -Want is a specific manifestation of a need. A want represents one way that individuals are taught by society and culture to satisfy a biological need.

User-generated content

-User generated content is when everyday people voice their opinions about product brands and/ or companies on sical networks.

A relationship a person might have with a product is called___

-self-concept attachment -nostalgic attachment -interdependence

Characterize four types of relationships a person might have with a product.

1) Self-concept attachment: the product helps to establish the user's identity 2) Nostalgic attachment: the product serves as a link with a past-self 3) Interdependence: the product is a part of the user's daily routine 4) Love: the product elicits emotional bonds of warmth, passion, or another strong emotion.

People buy products for

1) What they do 2) What they mean 3) The role the product plays in the consumer's life

Consumer

A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of a product during the three stages of consumption process..

Consumer

A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of the purchase during the three stages of consumption process

Virtual brand community

A virtual brand community is an online group of people from anywhere around the world who shares information about their experiences with a specific brand. One of the examples used in the text is The Hollywood Stock Exchange, a simulated entertainment stock market.

80/20 rule

According to 80/20 rule, 20 percent of a product's users account for 80 percent of sales of that product. These heavy users are the product's most faithful customers/

Which of the following time periods is encompassed in the study of consumer behavior A. prepurchase B. purchase C. postpurchase D. All of the above

All of the above

A transaction in which two or more organizations or people give and receive something of value is called

An exchange

Market segmentation strategies

An organization targets its product, service, idea only to a specific group of consumers rather than everybody

Brand loyalty

Bond between product and consumer that is difficult for competitors to break

Relationship marketing

Company interacts with consumers on a regular basis and gives them reasons to maintain a bond with the company overtime.

The growth of the internet has created

Consumption communities.

Which of the following is not a stage of the consumption process

Desire

Why is age a common demographic category used in understanding consumer behavior

Different age groups have different wants and needs

A person who believes that science can fix a find a cure for anything most likely follows the philosophy of interpretivism

False

Because consumer behavior is now examined as an entire consumption process that includes pre purchase and post purchase issues, exchange theory is irrelevant to the study of consumer behavior

False

Consumer behavior is irrelevant to our understanding of both public policy issues (e.g, ethical marketing practices) and the dynamics of popular culture

False

The 80/20 rule states that 80 percent of consumers will use 20 percent of the product

False

The 80/20 rule (20 percent of users account for 80 percent of sales) targets what user grpup

Heavy users

When a person buys a product for emotional reasons the need is

Hedonic

People who belong to the same social class and are most likely to have which of the following in common

Income and social standing in the community

When a product is part of a user's daily routine the user is said to have a(n)___ type of relationship with the product.

Interdependence

Which form of relationship between product and customer is most at risk of the consumer switching to a different brand of product

Interdependence

A proponent of___ would most likely argue that our society emphasizes science and technology too much

Interpretivism

) The belief that meaning is not fixed but is instead constructed by each individual is part of the ________ paradigm.

Interpretivist

Example of how consumer behavior is a process

Jenny Rowlins is absolutely exhausted after her shopping trip to pick out a dress for her sorority's formal event. The stores were crowded, and none of her favorite shops carried a dress that she liked in her size. After spending hours at the mall, Jenny decided to order her dress online and just return it if it was not exactly right

Which of the following is not considered demographic

Lifestyle

Relationship marketing

Marketers who practice relationship marketing have realized that a key to success is building relationships between brands and customers that will last a lifetime. -Relationship marketing is even more important during an economic downturn.

Positivism

Modernism

Lucy Chang recently purchased a lovely ceramic bowl that featured a red dragon design. When she thought about her purchase, she found that she really had no justification for buying the bowl other than it reminded her of the bowls her mother used during evening meals when she was a young child in Hong Kong. Which type of relationship with a product best explains the reason for Lucy's purchase of the dragon bowl? A) self-concept attachment

Nostalgic attachment

A student of postmodernism is most likely to believe that the world in which we live in is a(n)___, or mixture of images

Pastiche

Music, movies, sports, and books are part of

Popular culture

A consumer researcher who believes in the paradigm of ________ believes that human reason is supreme and that there is a single or objective truth that can be discovered by science.

Positivism

George says that he sees everything as "as "black or white, no in between." George would most accurately be characterized as a(n) ________.

Positivist

A product that helps to establish the user's identity is called

Self-concept attachment

When a product helps to establish the user's identity, the user is said to have a____ type of relationship with the product.

Self-concept attachment

Facebook, Twitter, Instagram are examples of

Social interactive medium

Which term refers to the online means of communication, conveyance, and collaboration among interdependent and interconnected networks of people, communities, and organizations

Social media

People who belong to the same social class are most likely to have which of the following in common

Social standing in the community

Consumer behavior

The processes involved when individuals or groups select, purchase, use, dispose products, services, ideas, experiences to satisfy needs and desires

Age, gender, family structure social class, race, ethnicity and income are used

To divide a market

A basic set of assumptions underlying the dominant paradigm is called positivism

True

A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of the product

True

A need is something a person must have to live

True

A paradigm is a belief that guides an understanding of the world

True

A product that helps to establish the user's identity is called a self-concept attachment

True

According to the definition of consumer behavior, how a consumer disposes of an idea and accepts another is part of consumer behavior.

True

According to the different categories of relationships that people might have with products, interdependence attachment occurs if the product is part of the user's daily routine

True

American society is shifting from a mass culture, in which many consumers share the same preferences, to a diverse culture in which consumers have almost an infinite number of choices.

True

Consumers who share demographic characteristics such as ethnicity and age can have very different lifestyles.

True

Consumption communities are where consumers share opinions and recommendations about products

True

Demographics are statistics that measure observable aspects of a population, such as birth rate, age distribution, income.

True

Descriptive characteristics of a population are called demographics

True

Love is a relationship a consumer might have with a product

True

People often buy products for what they mean, not what they do

True

Popular culture is both a product of marketing and an inspiration for marketing.

True

Role theory takes the view that much of consumer behavior resembles actions in a play

True

Texting, tweeting, facebooking, pinning favorite items on Pinterest are an accepted part of daily life

True

The fact that people often buy products not for what the products do but for what they mean implies that a product's basic function is impotant

True

When a transaction occurs between two or more organizations or people who give and receive something of value, an exchange has taken place.

True

Target began a new campaign to sell leather furniture. In emphasizing how leather furniture has been used over the decades in movies and books, by celebrities, and a necessity for home entertainment, the campaign is drawing upon popular culture.

Trye

___is a term that refers to the ability of people voicing their opinions about products, brands, companies on blogs, podcasts, social networking sites

User Generated Content

Demographics

are statistics that measure observable aspects of population

Which term refers to the collection and analysis of extremely large data serts

big data

Walmart tracks the habits of the 100 million customers who visit its stores each week and responds with products and services directed toward those customers' needs based on the information collected. This is an example of ________ marketing.

database

A person's marital status is important to which demographic variable

family structure

A digital native is someone who

grew up in a "wired" and highly networked area

The way consumers feel about themselves, the things they value, and the things they like to do in their spare time are part of how marketers segment using

lifestyle

Psychographics are used to measure

lifestyles

Die-hard Apple fans post videos on YouTube claiming their affection for Apple products. They most likely to have a(n)___ relationship with the product

love

When a product elicits emotional bonds of warmth and affection, the user is said to have a(n)___ type of relationship with the product

love

A metropolitan area with a total population of more than 10 million people is called

megacity

A____creates a state of tension that drives consumers to attempt to reduct or eliminate

need

Social media

online means of communication, conveyance, collaboration, and cultivation among interconnected and independent networks of people, communities, and organizations enhanced by technological capabilities and mobility.

Which marketing philosophy emphasizes interacting with customers on a regular basis and give them reasons to maintain a bond with the company over time

relationship marketing

The sociological perspective of___ takes the view that much of consumer behavior resembles actions in a play; consumer seek the lines, props, and costumes necessary to put on a good performance

role theory

According to the basic marketing concept, a firm exists to____, only to the extent that they understand the people or organizations that will use the products and services they sell. A. influence popular culture B. dominate market share C. nurture relationships D. satisfy needs

satisfy need

Demographic

sex, income, occupation

Database marketing

tracking consumer's buying habits very closely and crafting products and messages tailored precisely to people's wants and needs based on this information.

Which of the following is the best tool that helped to define the era of rebirth of Internet as social, interactive medium from its original roots as a form of one-way transimission from producers to consumers

web 2.0