chapter 1 - Consumer Behavior and Marketing Strategy
What is the likely outcome for a firm that bases its marketing decisions on explicit consumer behavior theory, assumptions, and research? Multiple choice question.
competitive advantage
______ studies the processes that people use to choose, secure, utilize, and dispose of products, services, experiences, or ideas to satisfy needs and the effect of these processes on the consumer and society.
consumer behavior
__________studies the processes that people use to choose, secure, utilize, and dispose of products, services, experiences, or ideas to satisfy needs and the effect of these processes on the consumer and society.
consumer behavior
Economically developed societies are often called
consumption societies
Marketing decisions are likely to be successful if they are based on
customer value
The difference between all the benefits derived from a total product and all the costs of obtaining those benefits is known as
customer value
Which is the most effective way to discover customers' needs?
market research
Which is the most effective way to discover customers' needs?
marketing research
Consumer behavior can best be defined as the study of the processes individuals, groups, or organizations go through in order to
select, secure, use and dispose of products, services, experiences or ideas
Consumer behavior can best be defined as the study of the processes individuals, groups, or organizations go through in order to ______.
select, secure, use and dispose of products, services, experiences or ideas
consumers are affected or influenced by
situation and product category
The application of marketing strategies and practices not for profit but rather to change or create behaviors that have a beneficial impact on targeted individuals or society as a whole is known as
social marketing
The application of not-for-profit marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole is referred to as
social marketing
The application of not-for-profit marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole is referred to as . (Enter one word in each blank.)
social marketing
Which market analysis component includes consideration of the state of the economy, the physical environment, government regulations, and technological developments? Multiple choice question.
the conditions
Customer value can be defined as
the difference between the benefits derived from a total product and the costs of acquiring those benefits.
marketing strategy
the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships
consumer behavior
the study of set group of people
During market analysis, which of the following questions should a company ask regarding competition?
1. If we are successful, which firms will be hurt? 2. How are competitors likely to respond if we are successful?
What is the likely outcome for a firm that bases its marketing decisions on explicit consumer behavior theory, assumptions, and research?
It can create a competitive advantage for the firm.
When conducting market analysis, which of the following must a company do?
It must understand its own ability to meet customer needs.
Which two statements about determining customers' needs are true?
1. market research 2. complex process
Which of the following are the most likely responses from competing companies if your company is successful? (Select all that apply.)
Competitors will reduce prices on their products. Competitors will increase their advertising.
Which of the following are approaches to identify need sets in the process of market segmentation? (Select all that apply.) Multiple select question.
Identifying needs first followed by consumer characteristics associated with those needs Identifying ethnic groups first followed by consumption-related needs across the groups
During market analysis, which of the following questions should a company ask regarding competition? (Select all that apply.)
If we are successful, which firms will be hurt? WHICH How are competitors likely to respond if we are successful?
Select the components of a market analysis.
The Capabilities of current and future competitors The Organization's own capabilities The Consumption process of potential customers The Economic, physical, and technological environment
Identify an accurate statement about groups of customers with similar need sets. Multiple choice question.
They can have sharply different demographics.
Select the ways by which a company can understand its own ability to meet customer needs. (Select all that apply.)
Understand the skills of its marketing department. Consider its production capabilities. Evaluate its own financial condition.
It is important for individuals in consumption societies to be aware of the marketing strategies and tactics that influence their decisions so as to _____.
be more effective as consumers
Which two items have prompted consumer demand for environmentally sound products?
deterioration of the physical environment