Quiz 5
________ are groups to which an individual wishes to belong, as when a young basketball player hopes to play someday in the NBA or WNBA.
Aspirational groups
________ involves first identifying and assessing competitors and then selecting which competitors to attack or avoid.
Competitor analysis
Which of the following statements is true of social classes?
People within a social class tend to exhibit similar buying behavior.
Robert has taken up cycling as a hobby and as a way to maintain his physical fitness. He wants to buy a hydration system since he will need a lot of water as he cycles. Having gathered a great deal of information, he has finally narrowed down his choices to three systems: Waterbags for Roadies, Supertanker Hydropacks, and Fast Water. As he considers these three, Robert is beginning the ________ stage of the buyer decision process.
evaluation of alternatives
Sears and Holiday Inn encountered difficult times because they did not stand out as the lowest in cost, highest in perceived value, or best in service of their primary target market segment. Both companies are ________.
middle-of the roaders
According to Michael Porter, what are three effective competitive positioning strategies?
overall cost leadership, differentiation, and focus
Pat thought he had received the best deal on his new car. Shortly after buying the car, Pat started to notice certain disadvantages of his new car as he learned more about other cars available in the market. Pat is experiencing ________.
postpurchase dissonance
John has decided to buy a particular smartphone that he saw reviewed online. Which of the following sources of information has most likely influenced John's purchase decision?
public sources
When major chain retailers avoid placing stores in disadvantaged neighborhoods, they are likely to be accused of the discriminatory practice of ________.
redlining
Each culture contains smaller ________, or groups of people with shared value systems based on common life experiences and situations
subcultures
