Quiz 1

Question 1

Anthropology

Answer 1

study of humankind in its habitat; how culture develops

Question 2

Sociology

Answer 2

study of social systems

Question 3

Psychology

Answer 3

study of human mind and mental process

Question 4

Economics

Answer 4

study of goods and resource allocation

Question 5

Qualitative

Answer 5

in depth understanding why

Question 6

Quantitative

Answer 6

systematic investigation using statistical, mathematical, or computational techniques

Question 7

4 types of value

Answer 7

utilitarian, social value, ego/identity value and recreation/hedonic value

Question 8

Utilitarian

Answer 8

tangible outcomes of a products function or usage (razors/lotions)

Question 9

Social Value

Answer 9

harmonious relationships, fitting in, projecting a good image (donating blood/buying a gift/wearing a brand)

Question 10

Ego/Identity Value

Answer 10

construct and manage our self concepts (vegetarian/recycle/watches/wearing a brand)

Question 11

Recreation/Hedonic Value

Answer 11

create moods, rejuvenate mind, make an experience (hotels/wine/sports/music)

Question 12

Marketing Research

Answer 12

collecting and interpreting informations

Question 13

Secondary Data

Answer 13

existing data already collected and available to the entrepreneur. Obtained more quickly and cost effectively

Question 14

Primary Data

Answer 14

new data gathered by you

Question 15

Maslow

Answer 15

Psychological needs (food/shelter)
Safety and Security (protected from danger
Belonging and Love (friends/family)
Esteem and Ego (respect/feeling good about one’s self)
Self Actualization (realize one’s potential and be at peace)

Question 16

Innate Needs

Answer 16

born for survival

Question 17

Learned Needs

Answer 17

biogenic and psychogenic

Question 18

Biogenic Needs

Answer 18

discomfort with our body sickness, dry skin, fatigue, physical cravings

Question 19

Psychogenic Needs

Answer 19

stemming from our mental makeup; what we think about ourselves and the world

Question 20

Ditcher’s List of Subconscious Consumption Decisions

Answer 20

• master over environment
• status
• rewards
• individuality
• social acceptance
• love and affection
• security
• masculinity
• femininity
• eroticism
• disalienation
• moral purity/cleanliness
• magic/mystery

Question 21

4 functions of attitude

Answer 21

• utilitarian - the object serves a utility
• value expressive - the object expresses one’s values
• knowledge - reduces uncertainty
• ego defense - the object helps protect our ego

Question 22

Murray’s List of Psychological Needs

Answer 22

• autonomy - independent and free to act
• dominance - to direct behaviors of others
• nurturance - to give sympathy or help
• exhibition - to make an impression or excite
• cognizance - to explore or ask questions
• exposition - to give information and explain

Question 23

Consumer Attitudes

Answer 23

• learned predispositions to respond to an object in a consistent way
• favorable or unfavorable
• learned
• targeted
• consistent
• cause response

Question 24

ABC Model of Attitude

Answer 24

A –> affect (feelings/how you feel)
B –> beliefs (cognitions/what you know)
C –> conation (intentions/what you will do)

Question 25

Masculine features

Answer 25

independent, competitive, assertive, selfish, instrumentality

Question 26

Feminine features

Answer 26

compassionate, sensitive, nurturing, emotional, expressive

Question 27

- 1945

Answer 27

retirees

Question 28

1946-1964

Answer 28

baby boomers

Question 29

1965-1979

Answer 29

generation x

Question 30

1980-1999

Answer 30

generation y

Question 31

2000 +

Answer 31

new millennials

Question 32

white

Answer 32

competitive, aggressive, prideful

Question 33

black

Answer 33

focused on self image, flashy, family, religion and respect

Question 34

hispanic

Answer 34

leisure over work, family, tradition, religion, appearance and technology

Question 35

asian

Answer 35

sophisticated, intelligent, self control

Question 36

european

Answer 36

individualism over family or society

Question 37

bachelor stage

Answer 37

emphasis on looks. eats out

Question 38

young married couple

Answer 38

their life project is building a starter home. budget

Question 39

full nesters

Answer 39

structured at the needs of children. convenience

Question 40

single parent

Answer 40

have no time. convenience

Question 41

empty nesters

Answer 41

they have time. leisure activities, more disposable income

Question 42

survivor stage

Answer 42

retired, family dependant

Question 43

retirees

Answer 43

frugal, read, loyal

Question 44

baby boomers

Answer 44

spenders, youth

Question 45

generation x

Answer 45

discounts, responsible

Question 46

generation y

Answer 46

individuals, high tech

Question 47

new millennials

Answer 47

high tech, causes, green, individual

Question 48

money attitudes

Answer 48

flaunters, big spenders, planners and savers, tightwads

Question 49

flaunters

Answer 49

hoping to impress and arouse envy. buy conspicuous items

Question 50

big spenders

Answer 50

personally enjoy buying, usually send beyone means/ in debt. impulse buyers.

Question 51

planners and savers

Answer 51

look to the future. comparison shop and coupons

Question 52

tightwads

Answer 52

obsessive about savings. will reuse old items and avoid unnecessary buying

Question 53

consumer sentiment

Answer 53

a consumers expectations about his/her financial well being in the near future

Question 54

social class

Answer 54

money (not the most determining factor), education, occupation, talent, accomplishments, social capital

Question 55

psychology of poverty

Answer 55

insecurity, helplessness, fatalism, present orientation