5

Question 1

Consumer buyer behavior

Answer 1

refers to the buying
behavior of final consumers, individuals and
households, who buy goods and services for personal
consumption

Question 2

Consumer market

Answer 2

all the final consumers,
individuals and households that buy or acquire goods
and services for personal consumption

Question 3

culture

Answer 3

is the learned values, perceptions, wants, and
behaviors from family and other important institutions

Question 4

subculture

Answer 4

are groups of people within a culture with shared
value systems based on common life experiences and
situations

Question 5

social classes

Answer 5

are society’s relatively permanent and ordered
divisions whose members share similar values, interests, and behaviors

Question 6

Name the four major factors that influence consumer
buyer behavior.

Answer 6

1. culture
2. social
3. personal
4. psychological

Question 7

social factor

Answer 7

reference groups and family

Question 8

personal factor

Answer 8

Age, gender, household size, and life-cycle stage
* Occupation affects the goods and services bought by consumers
* Economic situation
* Lifestyle (Activities, Interests, Opinions)
* Personality

Question 9

Opinion leaders

Answer 9

are people within a reference group who exert social
influence on others

Question 10

– Online Social Networks

Answer 10

are online communities where people
socialize or exchange information and opinions

Question 11

Psychological Factors

Answer 11

Motivation
Perception
Learning
Beliefs and attitudes

Question 12

motive

Answer 12

is a need that is sufficiently
pressing to direct the person to seek
satisfaction

Question 13

motivation research

Answer 13

refers to qualitative
research designed to probe consumers’
hidden, subconscious motivations

Question 14

maslows hierarchy of needs

Answer 14

-self actualization
-esteem
-social
-safety
-physiological

Question 15

perception

Answer 15

is the process by which
people select, organize, and interpret
information to form a meaningful
picture of the world from three
perceptual processes

Question 16

Selective attention

Answer 16

is the tendency for people to
screen out most of the information to which they are
exposed

Question 17

selective distortion

Answer 17

is the tendency for people to
interpret information in a way that will support what
they already believe

Question 18

selective retention

Answer 18

is the tendency to remember good
points made about a brand they favor and forget
good points about competing brands

Question 19

4 types of buying behaviour

Answer 19

Complex
Variety
Dissonance reducing
High involvement

Question 20

high involvement - significant difference

Answer 20

complex

Question 21

high involvement low difference

Answer 21

dissonance reducing

Question 22

low involvement significant difference

Answer 22

variety

Question 23

low involvement low difference

Answer 23

habitual

Question 24

need recognition

Answer 24

Occurs when the buyer recognizes a
problem or need triggered by:
– Internal stimuli
– External stimuli

Question 25

information search

Answer 25

Personal sources—family and friends * Commercial sources—advertising, Internet * Public sources—mass media, consumer organizations * Experiential sources—handling, examining, using the product

Question 26

Evaluation of Alternatives

Answer 26

How the consumer processes information to arrive at brand choices

Question 27

purchase decision

Answer 27

The act by the consumer to buy the most preferred brand * The purchase decision can be affected by: – Attitudes of others – Unexpected situational factors

Question 28

post purchase decision

Answer 28

* The satisfaction or dissatisfaction that the consumer feels about the purchase * Relationship between: – Consumer’s expectations – Product’s perceived performance * The larger the gap between expectation and performance, the greater the consumer’s dissatisfaction * Cognitive dissonance is the discomfort caused by a postpurchase conflict

Question 29

customer satisfaction

Answer 29

Customer satisfaction is a key to building profitable relationships with consumers—to keeping and growing consumers and reaping their customer lifetime value

Question 30

Stages in the Adoption Process

Answer 30

Awareness Interest Evaluation Trial Adoption

Question 31

awareness

Answer 31

becomes aware of product but lacks information

Question 32

interest

Answer 32

seeks information about product

Question 33

evaluation

Answer 33

considers whether trying new product makes sense

Question 34

trial

Answer 34

tries new product on small scale

Question 35

adoption

Answer 35

decides to make full and regular use of the product

Question 36

In the adoption process, consumers go through five stages. Name these five stages and explain them using Netflix.

Answer 36

Awareness Interest Evaluate alternatives Trial Adoption

Question 37

Describe the five main characteristics that influence an innovation’s rate of adoption. Give an example of each characteristic by comparing Netflix to traditional television.

Question 38

People differ in their readiness to try out new products. What are the five different adopter categories? Where would you place a consumer who decides to try Netflix for the first time this year and why?

Question 39

How does consumer buyer behavior differ from business buyer behavior? Name 4 main differences.

Question 40

) One of the secretaries of the marketing department is buying new office supplies (pencils, paper, tape, etc.). What type of buying situation is this? Motivate your answer.