MKT 350 Chapter 1
The difference between a need and a want
-Need is something a person must have to live. A need is a basic biological motive that cannot be created by marketing. -Want is a specific manifestation of a need. A want represents one way that individuals are taught by society and culture to satisfy a biological need.
User-generated content
-User generated content is when everyday people voice their opinions about product brands and/ or companies on sical networks.
A relationship a person might have with a product is called___
-self-concept attachment -nostalgic attachment -interdependence
Characterize four types of relationships a person might have with a product.
1) Self-concept attachment: the product helps to establish the user's identity 2) Nostalgic attachment: the product serves as a link with a past-self 3) Interdependence: the product is a part of the user's daily routine 4) Love: the product elicits emotional bonds of warmth, passion, or another strong emotion.
People buy products for
1) What they do 2) What they mean 3) The role the product plays in the consumer's life
Consumer
A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of a product during the three stages of consumption process..
Consumer
A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of the purchase during the three stages of consumption process
Virtual brand community
A virtual brand community is an online group of people from anywhere around the world who shares information about their experiences with a specific brand. One of the examples used in the text is The Hollywood Stock Exchange, a simulated entertainment stock market.
80/20 rule
According to 80/20 rule, 20 percent of a product's users account for 80 percent of sales of that product. These heavy users are the product's most faithful customers/
Which of the following time periods is encompassed in the study of consumer behavior A. prepurchase B. purchase C. postpurchase D. All of the above
All of the above
A transaction in which two or more organizations or people give and receive something of value is called
An exchange
Market segmentation strategies
An organization targets its product, service, idea only to a specific group of consumers rather than everybody
Brand loyalty
Bond between product and consumer that is difficult for competitors to break
Relationship marketing
Company interacts with consumers on a regular basis and gives them reasons to maintain a bond with the company overtime.
The growth of the internet has created
Consumption communities.
Which of the following is not a stage of the consumption process
Desire
Why is age a common demographic category used in understanding consumer behavior
Different age groups have different wants and needs
A person who believes that science can fix a find a cure for anything most likely follows the philosophy of interpretivism
False
Because consumer behavior is now examined as an entire consumption process that includes pre purchase and post purchase issues, exchange theory is irrelevant to the study of consumer behavior
False
Consumer behavior is irrelevant to our understanding of both public policy issues (e.g, ethical marketing practices) and the dynamics of popular culture
False
The 80/20 rule states that 80 percent of consumers will use 20 percent of the product
False
The 80/20 rule (20 percent of users account for 80 percent of sales) targets what user grpup
Heavy users
When a person buys a product for emotional reasons the need is
Hedonic
People who belong to the same social class and are most likely to have which of the following in common
Income and social standing in the community
When a product is part of a user's daily routine the user is said to have a(n)___ type of relationship with the product.
Interdependence
Which form of relationship between product and customer is most at risk of the consumer switching to a different brand of product
Interdependence
A proponent of___ would most likely argue that our society emphasizes science and technology too much
Interpretivism
) The belief that meaning is not fixed but is instead constructed by each individual is part of the ________ paradigm.
Interpretivist
Example of how consumer behavior is a process
Jenny Rowlins is absolutely exhausted after her shopping trip to pick out a dress for her sorority's formal event. The stores were crowded, and none of her favorite shops carried a dress that she liked in her size. After spending hours at the mall, Jenny decided to order her dress online and just return it if it was not exactly right
Which of the following is not considered demographic
Lifestyle
Relationship marketing
Marketers who practice relationship marketing have realized that a key to success is building relationships between brands and customers that will last a lifetime. -Relationship marketing is even more important during an economic downturn.
Positivism
Modernism
Lucy Chang recently purchased a lovely ceramic bowl that featured a red dragon design. When she thought about her purchase, she found that she really had no justification for buying the bowl other than it reminded her of the bowls her mother used during evening meals when she was a young child in Hong Kong. Which type of relationship with a product best explains the reason for Lucy's purchase of the dragon bowl? A) self-concept attachment
Nostalgic attachment
A student of postmodernism is most likely to believe that the world in which we live in is a(n)___, or mixture of images
Pastiche
Music, movies, sports, and books are part of
Popular culture
A consumer researcher who believes in the paradigm of ________ believes that human reason is supreme and that there is a single or objective truth that can be discovered by science.
Positivism
George says that he sees everything as "as "black or white, no in between." George would most accurately be characterized as a(n) ________.
Positivist
A product that helps to establish the user's identity is called
Self-concept attachment
When a product helps to establish the user's identity, the user is said to have a____ type of relationship with the product.
Self-concept attachment
Facebook, Twitter, Instagram are examples of
Social interactive medium
Which term refers to the online means of communication, conveyance, and collaboration among interdependent and interconnected networks of people, communities, and organizations
Social media
People who belong to the same social class are most likely to have which of the following in common
Social standing in the community
Consumer behavior
The processes involved when individuals or groups select, purchase, use, dispose products, services, ideas, experiences to satisfy needs and desires
Age, gender, family structure social class, race, ethnicity and income are used
To divide a market
A basic set of assumptions underlying the dominant paradigm is called positivism
True
A consumer is a person who identifies a need or desire, makes a purchase, and then disposes of the product
True
A need is something a person must have to live
True
A paradigm is a belief that guides an understanding of the world
True
A product that helps to establish the user's identity is called a self-concept attachment
True
According to the definition of consumer behavior, how a consumer disposes of an idea and accepts another is part of consumer behavior.
True
According to the different categories of relationships that people might have with products, interdependence attachment occurs if the product is part of the user's daily routine
True
American society is shifting from a mass culture, in which many consumers share the same preferences, to a diverse culture in which consumers have almost an infinite number of choices.
True
Consumers who share demographic characteristics such as ethnicity and age can have very different lifestyles.
True
Consumption communities are where consumers share opinions and recommendations about products
True
Demographics are statistics that measure observable aspects of a population, such as birth rate, age distribution, income.
True
Descriptive characteristics of a population are called demographics
True
Love is a relationship a consumer might have with a product
True
People often buy products for what they mean, not what they do
True
Popular culture is both a product of marketing and an inspiration for marketing.
True
Role theory takes the view that much of consumer behavior resembles actions in a play
True
Texting, tweeting, facebooking, pinning favorite items on Pinterest are an accepted part of daily life
True
The fact that people often buy products not for what the products do but for what they mean implies that a product's basic function is impotant
True
When a transaction occurs between two or more organizations or people who give and receive something of value, an exchange has taken place.
True
Target began a new campaign to sell leather furniture. In emphasizing how leather furniture has been used over the decades in movies and books, by celebrities, and a necessity for home entertainment, the campaign is drawing upon popular culture.
Trye
___is a term that refers to the ability of people voicing their opinions about products, brands, companies on blogs, podcasts, social networking sites
User Generated Content
Demographics
are statistics that measure observable aspects of population
Which term refers to the collection and analysis of extremely large data serts
big data
Walmart tracks the habits of the 100 million customers who visit its stores each week and responds with products and services directed toward those customers' needs based on the information collected. This is an example of ________ marketing.
database
A person's marital status is important to which demographic variable
family structure
A digital native is someone who
grew up in a "wired" and highly networked area
The way consumers feel about themselves, the things they value, and the things they like to do in their spare time are part of how marketers segment using
lifestyle
Psychographics are used to measure
lifestyles
Die-hard Apple fans post videos on YouTube claiming their affection for Apple products. They most likely to have a(n)___ relationship with the product
love
When a product elicits emotional bonds of warmth and affection, the user is said to have a(n)___ type of relationship with the product
love
A metropolitan area with a total population of more than 10 million people is called
megacity
A____creates a state of tension that drives consumers to attempt to reduct or eliminate
need
Social media
online means of communication, conveyance, collaboration, and cultivation among interconnected and independent networks of people, communities, and organizations enhanced by technological capabilities and mobility.
Which marketing philosophy emphasizes interacting with customers on a regular basis and give them reasons to maintain a bond with the company over time
relationship marketing
The sociological perspective of___ takes the view that much of consumer behavior resembles actions in a play; consumer seek the lines, props, and costumes necessary to put on a good performance
role theory
According to the basic marketing concept, a firm exists to____, only to the extent that they understand the people or organizations that will use the products and services they sell. A. influence popular culture B. dominate market share C. nurture relationships D. satisfy needs
satisfy need
Demographic
sex, income, occupation
Database marketing
tracking consumer's buying habits very closely and crafting products and messages tailored precisely to people's wants and needs based on this information.
Which of the following is the best tool that helped to define the era of rebirth of Internet as social, interactive medium from its original roots as a form of one-way transimission from producers to consumers
web 2.0
