MKT 450 Final Exam

Explain greenwashing. Why businesses would participate in greenwashing?

Greenwashing is when companies make false or exaggerated claims about how environmentally friendly their products are. Businesses would participate in greenwashing because they want consumers who prefer to buy goods and services from environmentally conscious brands to buy their products and services. So businesses market themselves being environmentally friendly than rather actually minimizing their environmental impact to gain more consumers and customers.

The adoption of a certain brand of shoe or apparel by athletes can be a powerful influence on students and other fans. Should high school and college coaches be paid to determine what brand of athletic equipment their players wear.

I think the coaches should be able to determine which brand of athletic equipment their players wear, because I think the brand that the players wear reflect what their values are by supporting that organization or business. I believe if you wear their products, then you support that organization's mission and values. Athletes have an immense amount of social power, they have the capability to alter the actions of others.

Is it important to understand how consumers learn about products and services? If so, why? If not, why not?

It is important to understand how consumers learn about products and services because it is a way of affecting consumers' attitudes, responses, and behavior toward a product or service. It is important to ensure the business's product or service is memorable and that consumer become exposed to a business's product or services.

Briefly discuss mechanical observation. What is it and why is it used? Describe two devices used for mechanical observation that do not require the respondent's direct participation.

Mechanical observation is recording the behavioral patterns of individuals, but does not require a respondents' direct participation or respondent involvement. It is used to watch an individual's past and current actions. Two devices used for mechanical observation are turnstiles that record the number of people entering or leaving a building. The second is on-site cameras(still, motion picture, or video).

Explain the theory of cognitive dissonance. Then create an example that illustrates the theory.

Cognitive dissonance is when w take action to resolve dissonance when our attitudes and behaviors are inconsistent. That is, we change our attitude to be in line with our behavior because we are motivated to reduce cognitive dissonance. An example that illustrates cognitive dissonance is that people by nature are both more likely to follow through when they have shown an act of commitment and are likely to continue in a consistent behavior, to ensure that their behavior matches their attitudes. Once someone has written a testimonial, they'll end up liking the product more after writing the testimonial, thus ensuring their attitudes are matching their behavior.

What is Consumer Behavior in marketing? Explain how Consumer Behavior relates to your future career.

Consumer behavior is the study of the processes involved when individuals or groups select, purchase,use, or dispose of products, services, ideas, or experiences to satisfy needs and wants. This relates to my future career in marketing because marketing is all about facilitating exchange, management of relationships to attract and retain consumers and customers by providing them with valuable products and/or services that bring value to them and benefit the organization and its stakeholders.

What are business ethics, and why is this an important topic?

Ethical business is good business. Business ethics are rules of conduct that guide actions in the marketplace; these are the standards against which most people in a culture judge what is right and what is wrong, good, or bad. This is an important topic because ethics is how business conduct business, create trustworthy relationships with their customers and other organizations thus leading to the success of the business.

In a short essay, discuss the difference between nonprobability sampling and probability sampling. Include a specific example of each type of sampling to support your answer.

Non probability sampling is a technique where the samples are gathered in a process that does not give all the individuals in the population equal chances of being selected. While probability sampling is a sampling technique where the sample is taken from a larger population based on random selection. An example of probability sampling is stratified sampling. Stratified sampling divides individuals into mutually exclusive groups, and is used to highlight differences between groups in a population. An example of non probability sampling is judgmental sampling. Judgmental sampling is when researchers use their own judgment to select a sample based on personal knowledge and expertise, thus eliminating the random selection.

In a short essay, discuss the differences between qualitative research and quantitative research.

The differences between the qualitative and quantitative research is that qualitative research is unstructured, based on small number of non-representative cases to gain an understanding of the underlying reasons and motivations. While quantitative research is structured, based on a large number of representative cases to quantify the data and generalize the results from the sample to the population of interest. Qualitative research's data analysis is nonstatistical and quantitative research is statistical. Qualitative research's outcome is to develop an initial understanding, while quantitative research's outcome is to recommend a final course of action.

How does the sense of touch influence consumers' reactions to the products?

The endowment effect is when people value things more highly if they own them. Encouraging shoppers to touch a product encourages them to imagine they own it; this in turn boosted willingness to pay