Chapter 4 Quiz

Jamie wants to buy an imported car but has refrained from doing so because of the devaluation of her country's money value against the dollar. Which of the following is a reason that seemed to influence Jamie's buying process?

The economy

Which of the following best illustrates a hedonic need?

Laura buys herself a cardigan because she ranked first in her class

Helen's, an apparel store, segments its market on the basis of the demographic characteristic of physical size and not on factors like ethnicity. This follows from the _____ criteria used for evaluating whether a retail segment is a viable target market.

Actionable

When Jenna buys groceries, she shops at Whole Foods or Trader Joe's because she knows that these two stores carry organic and unique foods. For Taylor, these two stores make up her _____.

Consideration set

Which of the following is true of customer characteristics as concluded from the VALS survey?

Consumers who are primarily motivated by self-expression desire social or physical activity, variety, and risk

A retailer that has many people browsing in their store, but few people actually buying products, needs to strive to increase its _____.

Conversion rate

Elena usually shops for her clothing at Macy's but would never buy her cosmetics there. She buys her cosmetics at Walmart. Her pattern of buying would be an example of _____ .

Cross-Shopping

Extended problem solving in a buying decision:

Is likely to prompt the offer of money-back guarantees

A department store knows from market research that their average customer comes from a household of $60,000 annual income, 33% of their customers have children at home, 51% of their customers have a college education, and the median age of their customer is 42. This information is based on____

Demographics

A fast-food retailer observes that his sales orders do not show much variety with respect to the store location. Instead, the needs of his customer are age-related. From the given information, it can be concluded that he is most likely to follow _____ market segmentation.

Demographics

A restaurant's decision to convert its image from an upscale dining option into a one-for-all fast food is a consequence of the influence of _____ on customer buying decisions.

Economy

A hotel's decision to redesign their seating plan to provide optimal space for visiting children is a consequence of the influence of the ___ on customer buying decisions

Family

Instances where snack shops are located near college campuses and gourmet foods in affluent areas follow from the _____ criteria used for evaluating whether a retail segment is a viable target market

Identifiable

John likes to have the latest electronics. He goes from store to store looking at new cameras, but now just checks it online from his home. The Internet dramatically reduces the cost of _____.

Information search

Habitual decision making:

Involves little or no conscious effort

The weather forecast is reporting that the season's first snowfall is predicted to hit tomorrow, and it will also involve ice and sleet. Many homeowners rush out to purchase shovels and deicing rock salt for their driveways. This has stimulated _____ which is a part of the buying process.

Need reognition

GreenMart is a grocery store that is exclusively involved in the sale of organic products. They also encourage their customers to be environmentally aware by requesting them to use reusable bags and ban plastics from their store. The retailer in this instance targets the _____ market segment.

Psychographic

Which of the following requires extended problem solving in a buying decision?

Purchasing a health-care policy cover for the whole family

Which of the following examples best illustrates a utilitarian need?

Zara buys new curtains to replace the worn out ones in her living room

Limited problem solving decision process

is done on the spot after seeing the merchandise