Chapter 1: Consumer Behavior & Marketing Strategy

__________ is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Consumer behavior

It is critical that a firm consider value from the customer's perspective.

True

How can an organization provide superior customer value to customers?

by doing a better job of anticipating and reacting to customer needs than the competition does

According to the Modern Marketing Concept, what is required for an organization to provide superior customer value to customers?

doing a better job of anticipating and reacting to customer needs than the competition does

Which of the following is NOT an application of consumer behavior? a. human resource management b. marketing strategy c. regulatory policy d. social marketing e. informed consumers

human resource management

ALL of the following are advantages of interpretive research EXCEPT: a. it is more flexible and open-ended b. it avoids the artificialness of some other forms of research c. the activity being studied is immediate and physically present d. interpretation is subjective e. greater trust between the researcher and consumer is possible leading to more sincere answers.

interpretation is subjective

A part of the larger market whose unique needs & characteristics differ from other parts of the market is referred to as a (n) _____.

market segment

The product, price, communications, distribution, and services provided to the target market is referred to as the ______.

marketing mix

Which is not an external influence on consumer behavior? a. social status b. family c. perception d. culture e. marketing activities

perception

An image of the product or brand in the consumer's mind relative to competing products and brands is referred to as the product's

position

A(n) __________ is anything a consumer acquires or might acquire to meet a perceived need.

product

The form of consumer research that focuses on understanding and interpreting, and that is characterized by researchers generating hypotheses from data collected is known as the ___.

qualitative perspective

All of the following are elements of a marketing ethnography except: a. emergent themes b. statistical generalizations c. thick descriptions d. field notes e. analytical observations.

statistical generalizations