Consumer Behavior (QUIZ) [Exam 1]

*The production concept makes sense for a business when ________. * A) consumers are more interested in product availability than in product variation B) consumers are interested in obtaining the product that offers them the highest quality, best performance, and most features C) consumers have changing needs and insist that those needs be satisfied D) consumers are unlikely to buy the product unless they are persuaded to do so

A) consumers are more interested in product availability than in product variation

*________ is defined as the ratio between the customer's perceived benefits and the resources used to obtain those benefits. * A) Customer satisfaction B) Customer value C) Customer relationship management D) Consumer decision making E) Consumer marketing

B) Customer value

*Which of the following is NOT one of the benefits of retaining loyal customers? * A) Loyal customers are more likely to purchase high margin supplemental products. B) Loyal customers are more price-sensitive. C) It is less expensive to service existing customers. D) Loyal customer refer other customers and engage in positive word-of-mouth. E) Loyal customers make employees' jobs easier and more satisfying.

B) Loyal customers are more price-sensitive.

*Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers. Ryan decides to focus his attention on that segment of the market that is interested in running. This selection of a specific market segment is known as ________. * A) social marketing B) market targeting C) product placement D) market segmentation E) product positioning

B) market targeting

*Of the four Ps of the marketing mix, promotion includes ________. * A) payment methods B) public relations C) warranties D) discounts E) product size

B) public relations

*Which of the following customer retention measurement methods is described: the percentage of customers at the beginning of the year that are still customers by the end of the year? * A) customer valuation B) retention rate C) complaint analysis D) defection rate E) benchmark

B) retention rate

*The focus of the ________ was to sell more of what the manufacturing department was able to produce.* A) marketing concept B) selling concept C) product concept D) production concept E) market orientation

B) selling concept

*Which of the four disciplines that helps shape our understanding of consumer behavior is defined as the study of the development, structure, functioning and problems of human society? * A) psychology B) sociology C) anthropology D) communication E) economics

B) sociology

*Which of the four disciplines that helps shape our understanding of consumer behavior compares human societies' culture and development? * A) psychology B) sociology C) anthropology D) communication E) economics

C) anthropology

*The process and tools used to study consumer behavior are characterized by the term ________. * A) data analysis B) data collection C) consumer research D) marketing communication E) consumer complexes

C) consumer research

*The 4 Ps of the marketing mix are ________.* A) product/service, price, place, people B) potential, price, place, people C) product/service, price, place, promotion D) product/service, promotion, potential, price E) price, purchase, placement, product/service

C) product/service, price, place, promotion

*The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________. * A) manufacturer; seller B) buyer; manufacturer C) seller; buyer D) seller; manufacturer E) buyer; seller

C) seller; buyer

*________ is turning individual consumer transactions into long-term customer relationships by making it in the best interests of customers to stay with the company rather than switch to another firm. * A) Market segmentation B) Customer satisfaction C) Market targeting D) Customer retention E) Product promotion

D) Customer retention

The adoption of digital technologies has introduced drastic changes into the business environment, including which of the following? A) Customers are forced to deal with distribution outlets and middlemen in order to obtain goods. B) The exchange between marketers and customers is less interactive than in the past. C) Consumers face more barriers to accessing information. D) Marketers can offer more products and services than ever before. E) Market research has become significantly more difficult.

D) Marketers can offer more products and services than ever before.

*The ________ concept in business assumes that consumers are mostly interested in product availability at low prices.* A) marketing B) societal C) product D) production E) technology

D) production

*Of the four Ps of the marketing mix, price includes ________. * A) payment methods B) public relations C) warranties D) distribution centers E) packaging

A) payment methods

*Which of the four disciplines that helps shape our understanding of consumer behavior is defined as the study of the human mind and the mental factors that impact behavior? * A) psychology B) sociology C) anthropology D) communication E) economics

A) psychology

*________ refers to the development of a distinct image for the product in the mind of the consumer.* A) Targeting B) Positioning C) Placement D) Promotion E) Segmenting

B) Positioning

*The key assumption underlying the marketing concept is that ________. * A) if manufacturers make a product, consumers will buy it B) a company must determine the needs and wants of specific target markets and satisfy consumers' needs better than the competition C) the primary focus of a business should be producing as much as it can, in the cheapest way possible D) consumers are most interested in obtaining generic products at low prices E) consumers are unlikely to buy a product unless they are aggressively persuaded to do so

B) a company must determine the needs and wants of specific target markets and satisfy consumers' needs better than the competition

*The actions that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs is known as ________. * A) the production orientation B) consumer behavior C) narrowcasting D) positioning E) the marketing mix

B) consumer behavior

*An individual's perception of the performance of a product or service in relation to one's expectations is known as ________. * A) market segmentation B) customer satisfaction C) market targeting D) product placement E) product promotion

B) customer satisfaction

*Successful positioning focuses on communicating the ________. * A) segments that the company views as prospective customers B) distinct benefits that the product provides C) retail shelf space the product should occupy D) competing offerings that are available E) product instructions for use

B) distinct benefits that the product provides

*An example of a company that applied the production concept in the early twentieth century is ________. * A) Google B) Microsoft C) Ford D) General Motors E) Apple

C) Ford

*Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________. * A) market segmentation B) the value proposition C) customer satisfaction D) the corporate vision E) the market targeting

C) customer satisfaction (satisfaction of product X expectation)

*In the consumer decision-making process, the ________ stage influences the consumer's recognition of a product need.* A) analysis B) evaluation C) input D) process E) output

C) input

*The three distinct but interlocking steps of the consumer decision-making process are ________. * A) input, analysis, and output B) environment, search, and evaluation C) input, process, and output D) analysis, decision making, and output E) analysis, process, and output

C) input, process, and output

*Which is NOT one of the benefits of highly satisfied customers? * A) They keep purchasing the same products. B) They provide word-of-mouth to others. C) They become customers for life. D) They switch to competitors if offered a somewhat lower price. E) They repeatedly buy the same brand.

D) They switch to competitors if offered a somewhat lower price.

*Socially responsible activities can result in ________. * A) improved corporate image among consumers B) improved corporate image among the financial community C) increased sales D) all of the above E) none of the above

D) all of the above

*Those in favor of socially responsible marketing call on marketers to adopt the societal marketing concept, which requires marketers to ________.* A) minimize production costs in order to offer the product at the lowest price possible B) aggressively market all products to all segments of society C) track customer preferences via the Internet to improve customer research databases D) fulfill the needs of the target audience in ways that improve society as a whole, while fulfilling the objectives of the organization E) lobby for government regulation of their industries

D) fulfill the needs of the target audience in ways that improve society as a whole, while fulfilling the objectives of the organization

*Social media transformed ________ by giving companies a way to easily collect input and customers' preferences. * A) photography B) television commercials C) market trust D) market research E) customer bias

D) market research

*Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers, which is known as ________. * A) market targeting B) product placement C) product positioning D) market segmentation E) social marketing

D) market segmentation

*The process of dividing a market into subsets of consumers with common needs or characteristics is known as ________. * A) market targeting B) ethical marketing C) product positioning D) market segmentation E) market stewardship

D) market segmentation

*Ryan runs a store that caters to athletes. He portrays his store as a one-stop-shop for all your running needs, so he has developed a distinct image for his store. This is an example of ________. * A) segmentation B) targeting C) placement D) positioning E) social marketing

D) positioning

*In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.* A) analysis B) evaluation C) input D) process E) output

D) process

*During historical periods when demand exceeded supply, businesses adopted the ________ concept. * A) marketing B) technology C) societal D) production E) product

D) production

*Tanya and her marketing team at a fast food restaurant are breaking their company's target audience into groups that have shared needs that are different from the needs shared by other groups. They are engaged in ________. * A) market targeting B) positioning C) placement D) promotion E) market segmentation

E) market segmentation

*Which of the following is an example of how the Internet affects prices and distribution? * A) Consumers use smart phones to compare prices as they shop, leading to price matching guarantees from retailers. B) Apple distributes iBooks via its digital bookstore, reducing prices of high school textbooks by almost 90%. C) Marketers are using smartphone apps to target shoppers in stores who are looking for information about products. D) Amazon installed Amazon Lockers in grocery, convenience and drugstores that accept packages for customers to pick up later. E) all of the above

E) all of the above

*Which of the following is consistent with the societal marketing concept?* A) Fast food restaurants develop offerings with less fat and more nutrients. B) Food marketers advertise foods to young people in a way that does not encourage overeating. C) Marketers do not use professional athletes in liquor or tobacco advertisements because they may serve as role models for young people. D) Marketers avoid featuring unreasonably slim females in their advertising campaigns because of the potential of such images to increase eating disorders. E) All of the above are consistent with the societal marketing concept.

E) All of the above are consistent with the societal marketing concept.

*Which of the following is considered an example of consumer behavior? * A) Janice prefers to buy name-brand pain relievers like Tylenol and Advil, rather than the store brand. B) Javier generally gets gas on Monday mornings on his way to work. C) Jessica prefers to buy her produce from the farmer's market instead of the grocery store. D) Jeremy generally recycles his old newspapers and cardboard boxes. E) All of the above are examples of consumer behavior.

E) All of the above are examples of consumer behavior.

*Technology enables marketers to do which of the following? * A) customize offerings and promotional messages B) offer more effective pricing C) utilize shorter distribution channels D) build long-term relationships with customers E) all of the above

E) all of the above

*Marketing and consumer behavior stem from the ________, which maintains that the essence of marketing is satisfying consumers' needs, creating value and retaining customers.* A) production concept B) product concept C) selling concept D) societal concept E) marketing concept

E) marketing concept

*In the consumer decision-making process, the ________ stage focuses on how consumers make decisions. * A) analysis B) evaluation C) input D) process E) output DOUBLE CHECK! SAME ANSWER AS PROCESS

E) output

*Packaging and warranties are elements of which of the four Ps? * A) price B) people C) promotion D) place E) product

E) product

*The primary objective of providing value to customers continuously and more effectively than the competition is ________. * A) to monopolize the market B) to produce a compelling advertising message C) to help recruit a dedicated workforce D) to avoid government regulation of the industry E) to create and to retain highly satisfied customers

E) to create and to retain highly satisfied customers