Consumer Behavior chapter 1 FINAL

an image of the product in the consumer's mind relative to competing products

A product's position refers to _____.

True

A target market is that segment(s) of the larger market on which a company will focus its marketing effort

position

An image of the product or brand in the consumer's mind relative to competing products and brands is referred to as the product's _____.

marketing skills

As part of developing your company's marketing strategy, you are tasked with analyzing the new-product capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, and market and consumer knowledge. Which aspect of your company's capabilities are you assessing?

True

Consumer behavior is a complex, multidimensional process.

False

Economically developed societies are often referred to as marketing societies.

by doing a better job of anticipating and reacting to customer needs than the competition does by conducting market research

How can an organization provide superior customer value to customers?

customer's

It is critical that a firm consider value from which perspective?

False

Lifestyle is the totality of an individual's thoughts and feelings about him- or herself.

conducting a market analysis

Marketing strategy begins with _____.

total product

Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value. This entire set of characteristics is often referred to as the _____.

consumption

Most economically developed societies are legitimately referred to as _____ societies.

societal rank

One's position relative to others on one or more dimensions valued by society is known as one's _____.

customer value

The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as _____.

marketing mix

The product, price, communications, distribution, and services provided to the target market is referred to as the _____.

meet the needs of the target market better than the competition does

To be successful, a product must _____.

value

To survive in a competitive environment, an organization must provide its target customers more _____ than is provided to them by its competition.

self-concept analysis

Which is NOT a step in the consumer's decision process?

financial condition general managerial skills production capabilities technological sophistication Correct all of the above

Which of the following aspects is evaluated when determining a firm's ability to meet customer needs?

conditions

Which of the following is a component of a market analysis?

Organizations are applying theories and information about consumer behavior on a daily basis. It is often necessary to conduct research. Consumer behavior is a complex, multidimensional process. Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. Correct all of the above

Which of the following is a key aspect regarding consumer behavior?

social welfare

Which of the following is a societal outcome of marketing strategy and consumer behavior?

all of the above (PR, packaging, sales force, advertising)

Which of the following is included in marketing communications?

marketing communications

include(s) advertising, the sales force, public relations, packaging, and any other signal that the firm provides about itself and its products.

Price

is the amount of money one must pay to obtain the right to use the product.

social marketing

is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.

consumer behavior

is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

injurious consumption

occurs when individuals or groups make consumption decisions that have negative consequence for their long-run well-being.

lifestyle

represents how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them.