Consumer behaviour
Predictive
'What-If' scenarios would be best researched through which role of marketing research?
C)The study of all consumers and the process they go through to satisfy needs.
2. Generally speaking, consumer behavior is: A)What a consumer does with a product after purchase. B) The consumer purchase process. C)The study of all consumers and the process they go through to satisfy needs. D)How a consumer uses price to make a purchase decision. E)How a consumer decides where to shop.
Competitor product analysis
taking a competitor's product and bringing it into your offices to directly compare it to the product you produce
Product development
the improvement of existing products or the introduction of new products into a market
Repositioning
A car company has forever been known as offering cheap, reliable cars. A new investment company has allowed the car company to create a new state-of-the-art, high-tech, fancy product line. The marketing team's biggest challenge will be to change consumers' perceptions of the brand. This is called:
Identifiability
A company wants to find customers who would be interested in a drug and alcohol prevention residential program. They are having difficulty finding customers. What type of criteria issue would they be facing? Responsiveness; Segmentation; Substantiality; Identifiability; Accessibility
component parts
A propeller blade would be what type of business product? Major equipment; Processed material;Component parts; Accessory equipment; Raw material
D)institution
A union would be what type of business customer category? A)government B) producer C)reseller D)institution E)supplier
Consumer
A__ can be Individuals, groups or organizations
E)Conditioning
After seeing a TV advertising campaign for tennis shoes with her favorite song, Candace associates the song with the shoes. This is an example of: A)Target-marketing B)Segmentation C)Brand perception D)Elaborative activities E)Conditioning
Demographic
Age, gender, income, race and family life cycle all are found in which type of segmentation?
Raw material
Aluminum is what type of business product?
Stright rebuy
An automated purchase where the vendor has a standing order for a set amount of product per week or month is called what type of buying?
life insurance
An example of an unsought product would be life insurance; a fast food dinner; mattress; candy bar; inground pool
A)Consumers don't spend a lot of time or effort considering alternatives.
Brand familiarity becomes important when shopping for convenience products because: A)Consumers don't spend a lot of time or effort considering alternatives. B)Consumers buy these products often. C)Consumers often ask others for advice and it's helpful when they remember the brand names. D)Consumers shop extensively for these products. E)Consumers must remember brand names when evaluating potential alternatives.
E)Memory, Learning and Conditioning
Brand positioning shows marketers how consumers perceive certain brands compared to others in the marketplace. A consumer builds these positions over time through which processes? A)Short-term memory B) Brand recall C)Advertising D)Market segmentation E)Memory, Learning and Conditioning
yes
Can a company charge additional money for its brand equity, above what the company's machines and buildings cost? yes or no
A)offering the product at a low sales price.
Cognitive dissonance can be eliminated by all of the following except: A)offering the product at a low sales price. B) providing lots of information that the consumer can research and make an informed decision. C)offering guarantees. D)the consumer justifying their decision to friends and family. E)the marketer can offer post purchase support such as follow up customer service calls
Descriptive
Collecting sales data reports would be an example of what role of marketing research?
B) Marketers can understand how consumers make decisions and better anticipate their needs.
Consumer behavior helps marketers create an effective marketing strategy because: A)Marketers learn exactly when the consumer makes the decision to buy. B) Marketers can understand how consumers make decisions and better anticipate their needs. C)Marketers see what competitors are able to do to attract potential consumers. D)Marketers are able to determine the highest price they can charge for their product. E)Marketers are able to bring a product to market faster than any potential competitors.
C)High-involvement purchase
Consumers tend to rely less on brand familiarity when making which type of purchase? A) Routine purchase B)Convenience purchase C)High-involvement purchase D)Regularly sought purchase E)Low-involvement purchase
Norms
Culture can be defined as a set of _ that serve as boundaries to guide our behavior?
B) Keeping abreast of the ever-changing marketplace
Customers requested a Whack a Wing App on the company's Facebook page, which would allow them to easily pay right from their phone and place orders ahead of time. When Whack a Wing responds, what is this an example of? A)Adapting to product modifications B) Keeping abreast of the ever-changing marketplace C)Improving the quality of decisions D)Tracing problems E)Focusing on current customer
D)Elaborative activities
Different experiences affect what consumers use from long-term memory to process new stimuli. Referencing long-term memory information to interpret and evaluate information in short-term memory is done through: A)Selective retention B)Conditioning C)Selective perception D)Elaborative activities E)Associations
Values
Generally held beliefs closely connected to culture about what is acceptable and desirable are known as:
institutional markets
Hospitals and Universities are examples of which type of business market?
INSTITUTIONAL
If a business sells their products directly to schools, what type of business segment would it be?
Accessibility
If a company decides to pursue a senior citizen segment of the market and has difficulty creating a marketing mix that will reach this type of segment, this is an example of what type of criteria?
psychographic segmentation
If a marketing team is examining customers' personality traits and decides to segment the market based on those traits they are using:
D)benefit segmentation.
If the new amusement park ad showcases the wild thrill rides for an exciting day out with friends, then the marketing team is using A)usage rate segmentation. B)income segmentation. C)geographic segmentation. D)benefit segmentation. E)demographic segmentatio
New buy
In this type of buying situation it is important for the business seller to provide a competitive argument to use their product line and a ton of information to help the business owner make an educated decision:
gatekeepers
Individuals that regulate information in a company.
A)Brand Rejection
Sam had a terrible experience at the Surf Hotel on the coast. When planning his beach vacation next year, he chooses the Tidewater Inn. This is an example of: A)Brand Rejection B) Brand Preference C)Brand Recognition D)Brand Non-recognition E)Brand Insistence
D)Selecting a product is an entirely learned activity.
It is crucial for marketers to understand how learning impacts consumer behavior because: A) We learn when to interpret marketing tactics as sincere or insincere. B) We learn the social norms for the shopping environments and atmospheres. C)Learning is how we relate long-term memory to short-term. D)Selecting a product is an entirely learned activity. E)We learn how to relate concepts to each other.
Business marketing
It is when a business markets products or services to companies
Brand Non-recognition
Kayla bought butter last week but paid no attention to the brand when she made her purchase. This is an example of:
Enduring involvement
Long-term involvement, and enhanced knowledge and experience in a specific product category is known as:
E)Fulfill consumer needs
Marketing strategy is driven by a company's ability to: A) Implement a pricing strategy B)Sell products C)Generate the most revenue D)Make the highest profit E)Fulfill consumer needs
Producer and Reseller
Markets buy goods and services primarily to resell them
visibility
One of the largest determinants of the level of influence a reference group has on your purchase decision is:
Producer Markets
Only __ transform the goods and services they buy before reselling them. Both producers and resellers try to make a profit. Institutional Markets and Government Markets buy goods and services for their own use
A)Buying Processes
Postmaster Joe segments his business customers by the amount of money they spend on his products and services. This is an example of what type of segmentation? A)Buying Processes B) Company Type C)Geographic Location D)Company Size E)Characteristics
Education, occupation, income
Social class is a combination of what three factors?
A)Brand Insistence
Sue likes Luigi's pasta sauce. While shopping, the store is sold out, so Sue waits to purchase pasta sauce another time. This is an example of: A)Brand Insistence B) Brand Rejection C)Brand Recognition D)Brand Preference E)Brand Familiarity
Brand equity
The commercial value that can be put on a brand is called
promotion
The majority of tactics marketers can use to help mitigate post-purchase dissonance are part of which of the four Ps of marketing?
brand
The name, term or image that consumers can use to identify your products from others
Marketing research
The process of planning, collecting and analyzing data relevant to a marketing decision.
institutional markets
These are non-government organizations that buy goods and services to support their own internal operations.
Brand message
This provides the words or terms that help customers understand why they should use the product and the company values (what the company believes in)
Descriptive, diagnostic, predective
Three roles of marketing research
yes
To help develop your brand, do you need to know where you stand in comparison to your competitors? yes or no
E)Associations help consumers decide how to organize and categorize products mentally.
Understanding associations can be helpful for a marketer when determining product positioning because: A)Associations are brand categories. B) Associations define concepts learned at a young age. C)Associations are a measurement tool used by marketers. D)Associations are how consumers learn new concepts. E)Associations help consumers decide how to organize and categorize products mentally.
C)Advertising can be tailored to reinforce positive emotions and downplay anxiety
Understanding post-purchase reactions from different market segments can be useful because: A)Brand recognition can be developed B)Marketers can determine the most effective locations to sell their product C)Advertising can be tailored to reinforce positive emotions and downplay anxiety
B)Permanence, Price and Importance
What are the factors that determine the level of post-purchase dissonance a consumer will experience? A)Demand for the product B)Permanence, Price and Importance C)Relationship with salesperson D)Place, Promotion, Product E)Length of decision-making process
Buying center, evaluation criteria, purchase decision, buying situation and customer service
What are the five different aspects of business buying behavior?
B)producer, reseller, institution, government
What are the four types of business customer categories? A) producer, consumer, institution, government B)producer, reseller, institution, government C)producer, seller, customer, institution D)producer, supplier, institution government
Quality, service and price
What are the three criteria that businesses use to make a purchase decision?
Baby boomers
What demographic group was born between 1946-1964?
E)Marketing and Engineering
What departments are the biggest influencers in a company? A)Engineering and Production B) Marketing and Advertising C)Marketing and Sales D)Accounting and Finance E)Marketing and Engineering
End user
What differentiates a business product from a consumer product
C)Direct mail
What form of marketing would be most helpful to mitigate post-purchase dissonance? A) Product placement B) Newsletters C)Direct mail D) Coupon promotions E) Television infomercials
C)Extensive evaluation of many alternatives
What is NOT involved in the limited decision making process? A) Post-purchase evaluation B)Internal information Search C)Extensive evaluation of many alternatives D)External information Search E)Simple decision rules
Modified rebuy
What is a buying situation where the purchaser makes some changes in the order and it could require some additional analysis or research?
Perceptual mapping
What is a graphical way of representing two or more dimensions or variables that are represented in consumers' minds?
Buying center
What is everyone in an organization who is part of the overall business purchase decision?
C)A process that influences potential consumers' perception of a product.
What is positioning? A)When a marketer creates a psychological profile of a product. B)Part of the four Ps of marketing. C)A process that influences potential consumers' perception of a product. D)The spot a product takes up in the marketplace. E)How the marketer views the product.
Substantial
What is the name of a segmentation criteria where a segment must be large enough to support developing a specific marketing mix?
Position
What is the place a product, company or brand occupies in consumers' minds relative to the competition's offerings?
Ethnographic research
What type of research is the study of human behavior in its natural context and involves observing behavior in a physical setting
Product differentiation
When a company uses a strategy to showcase why their product characteristics are superior to the competition, it is called:
Which form of surveying would be the slowest in getting responses?
B)all of the above are ways to segment a market.
Which of the follow is NOT a way to segment a market? A)ethnicity B)all of the above are ways to segment a market. C)gender D)income E)age
A)Focus Groups
Which of the following is NOT a form of secondary data? A)Focus Groups B) Census Data C)Internet research D)Financial Records
C)They can involve extended decision making.
Which of the following is NOT true about low involvement purchases? A)They are usually routine purchases. B) Purchases are often lower-priced items. C)They can involve extended decision making. D)Consumers may rely on long-term memory. E)Consumers often rely on brand loyalty.
A)Is Jose's Tacos your favorite place to eat?
Which of the following is an example of a closed-ended question: A)Is Jose's Tacos your favorite place to eat? B) Why do you shop at the sandwich shop? C)How long have you shopped in the local bakery? D)How often do you shop in the local store? E)Could you describe your favorite sandwich?
E)one type of business product is specialty.
Which of the following is false? A)one type of consumer product is shopping. B) there are four types of consumer products. C)a ream of paper can be both a consumer and business product. D)a business product can be used to make another product for resale. E)one type of business product is specialty.
D)Length of time company has been in business
Which of the following is not a way of segmenting a business market according to company characteristics? A) Product use B)Geographic location C)Company size D)Length of time company has been in business E)Type of company
C)product consumer does not really want to think about.
Which of the following is not true of a specialty product? A)Small target market. B)consumers are concerned with status. C)product consumer does not really want to think about. D)price is high. E)consumers will not accept substitutes.
A) Buying a home
Which of the following is the best example of a purchase that would fall under extended decision making? A) Buying a home B)Buying gasoline C)Choosing a movie to rent D)Buying butter E)Buying new jeans
B) brand comparisons play a very important role. price is low.
Which of the following is true about a heterogeneous shopping product? A)very widespread distribution. B) brand comparisons play a very important role. price is low. C)the consumer will not accept any substitutes D)there is no researching about products.
hairbrush
Which of the following would be classified as a convenience product? hairbrush; rolex watch; fridge; pizza ; jeans
E)A professional chef buying a new set of knives.
Which of the following would be considered a high involvement purchase? A)A parent re-stocking their diaper supply. B) A hungry student buying a microwave dinner. C)Purchasing a candy bar at the grocery checkout. D)A driver stopping for gas on a road trip. E)A professional chef buying a new set of knives.
D)Consumer Markets
Which of the markets below is not a Business Market? A)Producer Markets B) Institutional Markets C)Reseller Markets D)Consumer Markets E)Government Markets
A)the product is offered as a free trial.
Which one below is not a way that consumers recognize an unfulfilled want or need? A)the product is offered as a free trial. B) the consumer runs out of the product. C)the product they currently own does not perform the way it should perform. D)a marketer can introduce a newer version of the product.
A)past experiences with product
Which one is not a form of external information searching? A)past experiences with product B) radio ads C)friends and family D)consumer reviews E)sales brochures
A) Cognitive Dissonance
Which one of the following is not a step in the consumer decision making process? A) Cognitive Dissonance B) Evaluation of Alternatives C)Information Search
A)All of the above.
Which one of the scenarios is an example of a marketing research study? A)All of the above. B) Doctors are interviewed about whether a new facial plastic surgery tool would work for surgery. C)A focus group is held for a local soup manufacturer to decide on what flavors they should develop. D)A survey is conducted in a theme park to discover why attendance has dropped.
High Involvement
Which type of product would be better advertised using an elaborate website with lots of information, rather than a simple newspaper ad with minimal text?
High involvement
Which type of purchase decision is most likely to result in post-purchase dissonance?
Decider
Who has the power to choose which supplier to use?
Influencer
Who helps with evaluating the business product and usually has technical or specific information to help make a decision?
D)All answers are correct.
Why is it important for marketers to be able to identify the four different types of business markets? A)Marketers need to be able to identify the four different business markets so that they can change their message to effectively reach each market. B) Selling to government and institutional markets is different than producer and reseller markets. Knowing who you are selling to is important to marketers. C)None of these. D)All answers are correct. E)Different business markets buy goods and services differently. Understanding how they buy makes it easier to sell to them.
Institutional and Government Markets
__ buy goods and services only to support their internal operations.
Consumer behavior
__ is he process consumers go through when they make a purchase and the factors that influence their decision.
Focus groups
a group of customers brought into your offices and asked questions about your products
ways to segment market
demographics, psychographics, benefits, usage-rate and geography market
Market segment
is a subgroup of people or organizations that have similar characteristics, which results in matching product needs.
surveys
items that help companies gather answers to specific questions about their product and the product segment so they can improve their products where needed
ROI
performance measure used to evaluate the efficiency or attractiveness of an investment
