Question 1

In the consumer decision-making process, the ________ stage influences the consumer's recognition of a product need.

Accepted Answer

A)   analysis
B)   evaluation
C)   input
D)   process
E)   output

Question 2

The ________ is characterized by the gearing up of manufacturing skills in order to expand production.

Accepted Answer

A)   marketing concept
B)   product concept
C)   selling concept
D)   production concept
E)   societal concept

Question 3

John is a frequent flier, who travels with American Airlines at least 250,000 miles a year in first class. According to the text, the profitability classification given him would be ________.

Accepted Answer

A)   emerald
B)   sapphire
C)   titanium
D)   diamond
E)   platinum

Question 4

Identify the three components of the decision-making process. In your response, please provide an example of what someone who was in the market for a new television might do at that stage in the process.

Accepted Answer

The three stages of the decision-making ...

Question 5

________ refers to the development of a distinct image for the product in the mind of the consumer.

Accepted Answer

A)   Targeting
B)   Positioning
C)   Placement
D)   Promotion
E)   Segmenting

Question 6

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 ________.

Accepted Answer

A)   market targeting
B)   product placement
C)   product positioning
D)   market segmentation
E)   social marketing

Question 7

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Accepted Answer

A)   trust
B)   engagement
C)   network
D)   interactivity
E)   adaptation

Question 8

Online companies create a ________: consumers gain information that turns them into sophisticated customers, opportunities to customize products easily, and entertainment content; marketers gain information about consumers that allows them to be more efficient and precise when marketing their products.

Accepted Answer

A)   value vacuum
B)   one-sided transaction
C)   click-to-buy culture
D)   divestment opportunity
E)   value exchange

Question 9

Which of the following is an example of how the Internet affects prices and distribution?

Accepted Answer

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

Question 10

________ is defined as the ratio between the customer's perceived benefits and the resources used to obtain those benefits.

Accepted Answer

A)   Customer satisfaction
B)   Customer value
C)   Customer relationship management
D)   Consumer decision making
E)   Consumer marketing

Question 11

Identify and briefly describe five of the factors that determine customer satisfaction with online websites and merchants while shopping online.

Accepted Answer

Students should identify five of the fol...

Question 12

When consumers use online sites to compare models and brands of products and click for more technical information, companies gain information about ________.

Accepted Answer

A)   competitors' prices
B)   product attributes that consumers consider the most important
C)   buying patterns
D)   market research
E)   self-reported data

Question 13

Antoine is in charge of customer acquisition and retention. He allocates more of his budget to customer retention than customer acquisition. Why does Antoine's decision make sense?

Accepted Answer

A)   Low customer turnover is correlated with higher profits.
B)   High customer turnover is correlated with higher profits.
C)   Low customer acquisition is correlated with higher profits.
D)   Low customer acquisition is correlated with higher employee satisfaction.
E)   High customer acquisition is correlated with higher employee satisfaction.

Question 14

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Accepted Answer

A) True 
 B)False

Question 15

CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers.
-In the CAR MINI CASE, Ford's business strategy focused on ________.

Accepted Answer

A)   targeting the market
B)   positioning its product
C)   developing a value proposition
D)   segmenting the market
E)   minimizing production costs

Question 16

Emerging digital technologies are allowing consumers to have more power than ever before. This means that now customers ________.

Accepted Answer

A)   are required to buy goods and services from local vendors
B)   are limited in the time of day that they are able to buy products
C)   can locate the best prices for products or services
D)   are more limited in the range of products that they can purchase
E)   are forced to acquire used items through middlemen instead of directly from the original owner

Question 17

Customization is more practical and effective for marketers who are selling low involvement products.

Accepted Answer

A) True 
 B)False

Question 18

The three drivers of successful relationships between marketers and customers are customer value, high levels of customer satisfaction, and customer retention.

Accepted Answer

A) True 
 B)False

Question 19

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

Accepted Answer

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

Question 20

The process and tools used to study consumer behavior are characterized by the term ________.

Accepted Answer

A)   data analysis
B)   data collection
C)   consumer research
D)   marketing communication
E)   consumer complexes

Exam 1: Consumer Behavior: Information-Driven Consumer Behavior

Identify and briefly describe five of the factors that determine customer satisfaction with online websites and merchants while shopping online.

Correct Answer
verified
Students should identify five of the fol...
View Answer

Identify the three components of the decision-making process. In your response, please provide an example of what someone who was in the market for a new television might do at that stage in the process.

Correct Answer
verified
The three stages of the decision-making ...
View Answer

Correct Answer
verified

When consumers use online sites to compare models and brands of products and click for more technical information, companies gain information about ________.

Correct Answer
verified

The process and tools used to study consumer behavior are characterized by the term ________.

Correct Answer
verified

The ________ is characterized by the gearing up of manufacturing skills in order to expand production.

Correct Answer
verified

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Correct Answer
verified

In the consumer decision-making process, the ________ stage influences the consumer's recognition of a product need.

Correct Answer
verified

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 ________.

Correct Answer
verified

________ refers to the development of a distinct image for the product in the mind of the consumer.

Correct Answer
verified

________ is defined as the ratio between the customer's perceived benefits and the resources used to obtain those benefits.

Correct Answer
verified

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Correct Answer
verified

Antoine is in charge of customer acquisition and retention. He allocates more of his budget to customer retention than customer acquisition. Why does Antoine's decision make sense?

Correct Answer
verified

Which of the following is an example of how the Internet affects prices and distribution?

Correct Answer
verified

John is a frequent flier, who travels with American Airlines at least 250,000 miles a year in first class. According to the text, the profitability classification given him would be ________.

Correct Answer
verified

The three drivers of successful relationships between marketers and customers are customer value, high levels of customer satisfaction, and customer retention.

Correct Answer
verified

Emerging digital technologies are allowing consumers to have more power than ever before. This means that now customers ________.

Correct Answer
verified

Customization is more practical and effective for marketers who are selling low involvement products.

Correct Answer
verified

Correct Answer
verified

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

Correct Answer
verified

Exam 1: Consumer Behavior: Information-Driven Consumer Behavior

Identify and briefly describe five of the factors that determine customer satisfaction with online websites and merchants while shopping online.

Correct AnswerverifiedStudents should identify five of the fol...View AnswerShow Answer

Identify the three components of the decision-making process. In your response, please provide an example of what someone who was in the market for a new television might do at that stage in the process.

Correct AnswerverifiedThe three stages of the decision-making ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

When consumers use online sites to compare models and brands of products and click for more technical information, companies gain information about ________.

Correct AnswerverifiedShow Answer

The process and tools used to study consumer behavior are characterized by the term ________.

Correct AnswerverifiedShow Answer

The ________ is characterized by the gearing up of manufacturing skills in order to expand production.

Correct AnswerverifiedShow Answer

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Correct AnswerverifiedShow Answer

In the consumer decision-making process, the ________ stage influences the consumer's recognition of a product need.

Correct AnswerverifiedShow Answer

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 ________.

Correct AnswerverifiedShow Answer

________ refers to the development of a distinct image for the product in the mind of the consumer.

Correct AnswerverifiedShow Answer

________ is defined as the ratio between the customer's perceived benefits and the resources used to obtain those benefits.

Correct AnswerverifiedShow Answer

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

Correct AnswerverifiedShow Answer

Antoine is in charge of customer acquisition and retention. He allocates more of his budget to customer retention than customer acquisition. Why does Antoine's decision make sense?

Correct AnswerverifiedShow Answer

Which of the following is an example of how the Internet affects prices and distribution?

Correct AnswerverifiedShow Answer

John is a frequent flier, who travels with American Airlines at least 250,000 miles a year in first class. According to the text, the profitability classification given him would be ________.

Correct AnswerverifiedShow Answer

The three drivers of successful relationships between marketers and customers are customer value, high levels of customer satisfaction, and customer retention.

Correct AnswerverifiedShow Answer

Emerging digital technologies are allowing consumers to have more power than ever before. This means that now customers ________.

Correct AnswerverifiedShow Answer

Customization is more practical and effective for marketers who are selling low involvement products.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

Correct AnswerverifiedShow Answer

Correct Answer
verified
Students should identify five of the fol...
View Answer

Correct Answer
verified
The three stages of the decision-making ...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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