Quiz 2

Question 1

Economic Needs

Answer 1

Economy of purchase, convenience, efficiency, dependability

Question 2

Psychological Needs

Answer 2

Motivation, perception, learning, attitude, trust, lifestyle

Question 3

Social Influence

Answer 3

Family, social class, reference groups

Question 4

Culture

Answer 4

Ethnicity, international

Question 5

Purchase Situation

Answer 5

Purchase reason, time, surroundings

Question 6

Consumer decision process

Answer 6

determines if person will or will not purchase

Question 7

What are determinants of psychological Influences

Answer 7

Needs, wants, drives

Question 8

PSSP Hierarchy of needs

Answer 8

1, Physiological Needs
2, Safety Needs
3, Social Needs
4, Personal Needs
5, Social & Global Needs

Question 9

Learning Process

Answer 9

Drive, Cues, Response (response reinforces the cues)

Question 10

Psychographics focus

Answer 10

Activities, Interests, Opinions

Question 11

Social Influences

Answer 11

Family life cycle, Acceptance of new ideas by youngsters, growing singles market, relocation for teens, empty nesters, real decision maker, reference group, opinion leaders, social media

Question 12

Culture and Ethnicity

Answer 12

Culture, Ethnic Groups, Stereotypes, International Markets

Question 13

Source of Problem Recognition

Answer 13

Out of Stock, Dissatisfaction, New Needs or Wants, Related Product Purchase, Market Induced Recognition, New Products

Question 14

Consumer Motivation

Answer 14

The way a consumer perceives a situation and becomes driven to resolve it will influence the remainder of the decision process

Question 15

Internal Search

Answer 15

Think about brands, Quickly reduce options, choice based on past experience

Question 16

External Search

Answer 16

Personal Sources, Market Sources, Public Sources, Personal Sources, Internet

Question 17

Selective Perception Process

Answer 17

Selective Exposure
Selective Perception
Selective Retention

Question 18

Two Forms of Evaluative Criteria

Answer 18

Objective, (Price, Warranty Service)
Subjective, (Style, Appearance, Image)

Question 19

Consumer Attitude

Answer 19

Affective, Cognitive, Conative

Question 20

Attitude Sequence

Answer 20

Cognitive - Affective - Conative
Affective - Conative - Cognitive
Conative - Cognitive - Affective

Question 21

How Consumers Learn

Answer 21

Thinking, Intellectual evaluation comparing attributes with values
Conditioning, conditioning through association or reinforcement
Modeling, emulation (copying) of respected examples

Question 22

After Purchase Experience

Answer 22

Second thoughts, Spread the word, Post purchase regret

Question 23

Generic Market

Answer 23

Market with broadly similar needs and sellers often offer diverse ways to meet those needs

Question 24

Product market

Answer 24

market with very similar needs and sellers offering various close substitute ways of satisfying your needs

Question 25

Generic Market Definition

Answer 25

Customer needs + customer types + geographic area

Question 26

Product Market Definition

Answer 26

Customer needs + customer types + geographic area + Product type

Question 27

Market Segmentation

Answer 27

Group of customers who share similar inclinations towards a brand

Question 28

Reasons for segmentation

Answer 28

Better focus on consumer needs More effective marketing strategies Allocate resources based on attractiveness of different segments

Question 29

Three types of Segmentation

Answer 29

one to one marketing marketing segmentation mass marketing

Question 30

Micromarketing

Answer 30

Collaborative filtering, making predictions about single users by collecting info from many users

Question 31

Dimensions for segmenting consumer markets

Answer 31

Geographic, Demographic, Behavioral, Psychographic

Question 32

Geographic segmentation

Answer 32

By region, City vs Rural, By Climate, By Density

Question 33

Sophisticated techniques for segmentation

Answer 33

clustering, customer relationship management, dynamic behavioral segmentation

Question 34

Evaluating market segments

Answer 34

segment size and growth, segment structural attractiveness, company objectives and resources

Question 35

Segment success criteria

Answer 35

homogenous within heterogenous between substantial operational

Question 36

steps in segmentation

Answer 36

segmentation target marketing positioning

Question 37

what determines positioning

Answer 37

product price promotion distribution

Question 38

factors to consider for the positioning strategy

Answer 38

what segments are they trying to reach position of competitors composition of brand

Question 39

government market

Answer 39

FCPA size and diversity competitive bids "approved" supplier list

Question 40

Buying center

Answer 40

buyers users gatekeepers deciders influencers

Question 41

model of organizational buying

Answer 41

defining the problem buying process managing the buyer seller relationship