MKTG 409 - Exam 2

High-Involvement Product

- Visible to others, expensive, high social risk

Purchase

- choose product/brand - seller - negotiate terms - purchase/terminate process

Low-Involvement product

- lets visible, less expensive, less social risk

Social influences

- social classes - culture - subculture

Cognitive Dissonance

A buyers doubts shortly after a purchase about whether the decision was the right one

(b)rand

A namer, term, design, symbol, or other feature that identifies the product as distinct from those of other marketers

(B)rand

A set of mental associations held by a consumer, which add to perceived value of the product

Roles

Actions and activities that a person in a particular position is supposed to perform based on expectation of the individual and surrounding persons

Core product

Addresses the basic need of the consumer (t-shirt to cover ourselves)

Attitudes

An individuals enduring evaluation of feelings about and behavioral tendencies toward an object or idea

Motive

An internal energizing force that directs a persons behavior toward satisfying needs or achieving goals

Symbolic/experiential benefits

Buyer purchase that benefits and satisfaction they think the product will provide (we don't want the drill, we want the hole it makes)

Learning

Changes in an individuals thought processes and behavior caused by information and experience

Shopping product

Considerable effort planning/purchasing (cars)

Specialty products

Unique characteristics requiring considerable effort (collectors items, custom car)

Labeling is ____________ packaging.​ a. closely interrelated to b. done independent of c. never required on d. always included on the back of e. always included on the front of

a: closely interrelated to

Maslows hierarchy of needs

Five level of needs that humans seek to satisfy, from most to least important (psychological, safety, social, esteem, self-actualization)

Convenience products

Inexpensive, frequently purchased (groceries)

Patronate Motives

Influence where a person purchases product on a regular basis

Product life cycle

Introduction, groth, maturity, decline

Problem recognition

Occurs when a buyer becomes aware of a difference between a desired state and an actual condition

Enduring involvement

Ongoing and long-term involvement with a product or product category

Situation influences

Physical surroundings and mood (stores that are uncomfortable to be in, music in stores has impact, smell)

Unsought Products

Products we buy when we have a sudden problem or unanticipated need (plumber when we have a leak)

Brand awareness

Recognati

Consumer buying decision process

Recognition - Information search - evaluation of alternatives - purchase - post purchase evaluation

Situation involvement

Temporary, or dynamic involvement resulting from a particular set of circumstances

Buying Behavior

The decision processes and actions fo people involved in buying and using products

Consumer buying behavior

The decision processes and purchasing activities of people who purchase product for personal or household use and not for business purposes

Involvement

The degree of interest in or importance of a product

Brand equity

The marketing and financial value associated with a brands strength in a market

Case for collaborative consumption

The reinvention of old market behaviors-renting, lending, swapping, bartering, gifting - through technology, taking place on a scale and in ways never possible before

Changing people's attitudes toward a firm and its marketing program is a. unnecessary, since consumer attitudes are of little importance. b. simple when advertisements are used. c. a long, expensive, and difficult task that may require extensive advertising campaigns. d. impossible, even if the firm uses advertisements. e. rarely attempted through the use of marketing practice.

c: a long, expensive, and difficult task that may require extensive advertising campaigns

When Glidden introduced interior house paint in plastic gallon containers, including a no-drip spout, this was an example of ____ packaging. a. traditional b. green c. convenience d. innovative e. category-consistent

d: innovative

Brand name awareness is an important element of brand equity because a familiar brand is more likely to be in a customer's ____ than an unfamiliar brand. a. consideration set b. brand group c. loyalty set d. inept set e. preference group

a: consideration set

An opinion leader is likely to be most effective under all of the following conditions except when the a. follower has attitudes and values that are different from those of the opinion leader. b. follower has values and attitudes similar to the opinion leader. c. follower has high product involvement. d. follower has low product knowledge. e. product details are numerous and complicated.

a: follower has attitudes and values that are different from those of the opinion leader

While shopping at a local grocery store, Taylor sees a display of his favorite brand of energy drink. He buys some to take home for the weekend. This purchase process would be described as a. routinized response behavior. b. situational perception. c. limited decision making. d. enduring involvement. e. extended decision making.

a: routinized response behavior

Of the following choices, which would be the easiest brand name to legally protect? a. Tarzink Yogurt b. Learn and Grow Daycare c. Western County Distributors d. Sullivan Water Filtering Systems e. Scout Camping Supplies

a: tarznik yogurt

In the consumer buying decision process, the information search stage a. is lengthy for routine response buying behavior. b. yields a group of brands that a buyer views as possible alternatives. c. involves a buyer becoming aware of the need for a product. d. occurs immediately after evaluation of alternatives. e. is not necessary when the buyer is involved in extensive decision making.

b: yields a group of brands that a buyer views as possible alternatives

Ashley recently visited a Teavana store and wanted to purchase its $79.95 ice tea maker. She has never bought from Teavana before, but she knows it is owned by Starbucks. Ashley views Starbucks very positively and loves their drinks. Ashley will most likely use ______________ when determining whether to purchase the ice tea maker. a. limited decision making b. ​impulse buying c. routine decision making d. extended decision making e. routinized response behavior

c: limited decision making

During the decline stage of the product life cycle, a. market share is maintained. b. profits peak and then begin to decline. c. competition is at a peak. d. profits begin to fall. e. sales rapidly decrease.

e: sales rapidly decrease

Evaluation of alternatives

Consideration set - group of brands viewed as alternatives for purchase Evaluation criteria - objective and subjective product characteristics that are important to the buyer