TMC to DM

Question 1

involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying
exchanges with target markets.

Answer 1

Marketing strategy

Question 2

is a group of individuals or organizations who share one
or more characteristics. They therefore may have relatively similar product
needs

Answer 2

market segment

Question 3

identifies the market segment or segments on
which to focus. This process begins with a market opportunity analysis
(MOA) – the description and estimation of the size and sales potential of
market segments that are of interest to the firm and the assessment of key
competitors in these market segments. After the firm describes the market
segments, it may target one or more of them.

Answer 3

The target market strategy

Question 4

means different things to
different people, though most people think it refers to specific digital
platforms

Answer 4

social media

Question 5

There are ________ social
media users worldwide, with a
steady increase forecasted
through 2021.

Answer 5

2.46 billion

Question 6

is any tool or service that uses the Internet to facilitate
conversations

Answer 6

Social media

Question 7

is the largest social media platform, with over 2 billion active users

Answer 7

Facebook

Question 8

T or F

marketers must realize that they often do not control the content on social media sites

Answer 8

t

Question 9

T OR F

Second, the ability to share experiences quickly and with such large numbers of people does not amplify the impact of word of mouth in ways that can affect a company’s bottom line.

Answer 9

F

Question 10

T OR F

Third, social media have enabled marketers to listen more effectively

Answer 10

T

Question 11

include
tools and platforms like social networks, blogs, microblogs, and media-sharing sites that can be accessed through a growing number of devices, including smartphones,
wearables, e-readers, digital assistants, televisions, tablets, smartwatches, and video game consoles

Answer 11

Social media

Question 12

T OR F

social media enables marketers to have much more direct and meaningful conversations with customers

Answer 12

T

Question 13

Having a ______ can certainly help mitigate risk, but there is no
guarantee employees will not occasionally slip up.

Answer 13

social media policy

Question 14

____________ is by
far the largest online video repository—it has more content than any major television network. _____________ is
an app where users can post short music videos of themselves lip-syncing. Similarly, ___________
which enables live streaming of events, is becoming ever more popular with consumers and brands alike.

Answer 14

youtube, tiktok, facebook live

Question 15

is a
subset of e-commerce that involves the
interaction and user contribution aspects of
social online media to assist online buying and
selling of products and services.

Answer 15

social commerce

Question 16

relies on usergenerated content on a website to assist
consumers with purchases.

Answer 16

, social commerce

Question 17

seven types of social commerce

Answer 17

Peer-to-peer sales platforms (
Group buying platforms
User-curated shopping sites
Social shopping sites
Social networking websites driven by sales
Peer recommendation sites
Participatory commerce platforms
Shoppable videos

Question 18

In ______, attention is earned through
word of mouth or online buzz about something the
brand is doing

Answer 18

digital marketing

Question 19

__________ include viral videos,
retweets, comments on blogs, and other forms of
customer feedback resulting from a social media
presence.

Answer 19

Earned media

Question 20

marketers must put some money behind a
campaign and cannot simply rely on earned media
or a message going “viral.” So marketers turn to

Answer 20

paid media

Question 21

The purpose of __________ is to develop deeper relationships with customers. A
brand’s presence on Facebook, YouTube, Twitter, Pinterest, and other social
platforms constitutes__________

Answer 21

owned media

Question 22

Using consumers to develop and market
products is called

Answer 22

crowdsourcing

Question 23

The first action a marketing team should take when initiating a social media campaign is simple—it should

Answer 23

just listen

Question 24

is the process of identifying and
assessing what is being said about a company, individual, product, or brand

Answer 24

Social media monitoring

Question 25

Listen and learn Build relationships and awareness Promote products and services: Manage your reputation Improve customer service

Answer 25

social media objectives

Question 26

five steps to help gauge the effectiveness of a social media effort:

Answer 26

Identify your key performance indicators (KPIs). Align your social media goals with your business objectives. Set up Google Analytics (or a similar program) to track conversions. Assign values to your KPIs (such as lifetime value or average sales). Benchmark against your competitors.

Question 27

following types of social media users

Answer 27

Creators Conversationalists Critics Collectors oiners Spectators Inactives

Question 28

following types of social media users Those who produce and share online content like blogs, websites, articles, and videos. This is the fastest-growing sector of the audience. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 28

creators

Question 29

following types of social media users This group is also creating content, but only to facilitate communication. They want to express themselves through status updates a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 29

Conversationalists

Question 30

following types of social media users Those who post comments, ratings, and reviews of products and services on blogs and forums. They respond to status updates and are crucial to the other types of users. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 30

Critics

Question 31

following types of social media users Those who use RSS feeds to collect information and vote for websites online. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 31

Collectors

Question 32

following types of social media users Those who maintain a social networking profile and visit other sites. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 32

Joiners

Question 33

following types of social media users Those who read blogs, listen to podcasts, watch videos, and generally consume media. This is the largest category. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 33

Spectators

Question 34

following types of social media users This is the smallest group and makes up those who do none of the above. a.Creators b. Conversationalists c. Critics d. Collectors e. Joiners f Spectators g. Inactives

Answer 34

Inactives

Question 35

Typically, they are popular in a specific arena—gaming, makeup, fashion, food, and so forth. Some you may not have heard of unless you are interested in a specific area

Answer 35

Social media stars

Question 36

refers to the process by which individuals decide whether to purchase a product or service. It involves a series of steps that lead to the final decision, influenced by various internal and external factors.

Answer 36

Consumer decision making

Question 37

Key Concepts in Consumer Decision Making The process begins when a consumer identifies a need or problem. This could be triggered by: Internal stimuli (e.g., hunger, boredom). External stimuli (e.g., advertising, word of mouth). Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Behavior

Answer 37

Need Recognition

Question 38

Key Concepts in Consumer Decision Making Once a need is recognized, consumers typically search for information from: ___________ – Personal experiences and knowledge. _______________ – Online reviews, advertisements, salespeople, social media, etc. Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Behavior

Answer 38

Information Search Internal Sources External Sources

Question 39

Key Concepts in Consumer Decision Making After gathering information, consumers evaluate various options based on factors such as: Price Quality Consumers often compare alternatives in a structured way, using decision rules (e.g., compensatory or non-compensatory models). Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Behavior

Answer 39

Evaluation of Alternatives –

Question 40

Key Concepts in Consumer Decision Making After evaluating alternatives, the consumer makes a decision on which product or service to purchase. This decision can still be influenced by: Promotions Store environment Last-minute persuasion from salespeople Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Behavior

Answer 40

Purchase Decision

Question 41

Key Concepts in Consumer Decision Making After the purchase, the consumer assesses their satisfaction or dissatisfaction with the choice. Cognitive dissonance may occur if the consumer feels regret or uncertainty about their decision. Marketers aim to ensure post-purchase satisfaction through follow-up communication and support. Need Recognition Information Search Evaluation of Alternatives Purchase Decision Post-Purchase Behavior

Answer 41

Post-Purchase Behavior

Question 42

Types of Consumer Decisions Consumers make frequent, low-cost purchases with minimal thought, often based on brand loyalty or habit. Routine Response Behavior Limited Decision Making Extensive Decision Making

Answer 42

Routine Response Behavior

Question 43

Types of Consumer Decisions Involves a moderate amount of effort and time. The consumer might evaluate a few options, but does not engage in an exhaustive search or detailed evaluation. Routine Response Behavior Limited Decision Making Extensive Decision Making

Answer 43

Limited Decision Making

Question 44

Types of Consumer Decisions Requires significant time and effort, typically for high-involvement, high-cost purchases like cars or homes. Consumers engage in comprehensive research and evaluate multiple alternatives. Routine Response Behavior Limited Decision Making Extensive Decision Making

Answer 44

Extensive Decision Making

Question 45

Factors Influencing Consumer Decision Making

Answer 45

Psychological Factors Social Factors Personal Factors Situational Factors

Question 46

Personal Factors Age, gender, income, occupation, education, and family structure all affect consumer preferences. Demographics Lifestyle Economic Situation

Answer 46

Demographics

Question 47

Personal Factors Consumers’ lifestyles (interests, activities, opinions) heavily influence their buying habits. For example, environmentally conscious consumers may prefer sustainable or eco-friendly products. Demographics Lifestyle Economic Situation

Answer 47

Lifestyle

Question 48

Personal Factors A consumer’s disposable income, employment status, and broader economic conditions can impact purchasing behavior. Demographics Lifestyle Economic Situation

Answer 48

Economic Situation

Question 49

Psychological Factors : The driving force that propels consumers to take action, often based on the hierarchy of needs (e.g., Maslow's hierarchy). Motivation Perception Learning Attitudes and Beliefs

Answer 49

Motivation

Question 50

Psychological Factors The process by which consumers select, organize, and interpret information. Perceptions are influenced by past experiences, emotions, and cognitive biases. Motivation Perception Learning Attitudes and Beliefs

Answer 50

Perception

Question 51

Psychological Factors Changes in behavior based on experiences and information. Past experiences, advertising, and reviews can shape future buying behavior. Motivation Perception Learning Attitudes and Beliefs

Answer 51

Learning

Question 52

Psychological Factors Consumer attitudes toward products, brands, or categories influence their decisions. Attitudes can be formed through direct experiences, social influences, or exposure to marketing messages. Motivation Perception Learning Attitudes and Beliefs

Answer 52

Attitudes and Beliefs

Question 53

Social Factors often have a significant impact on consumer decisions, particularly in joint purchases or family-oriented products. Family Reference Groups Social Status and Culture

Answer 53

Family

Question 54

Social Factors People are influenced by groups they belong to (e.g., friends, colleagues) or aspire to belong to (e.g., celebrities, influencers). These groups provide standards and norms that guide behavior. Family Reference Groups Social Status and Culture

Answer 54

Reference Groups

Question 55

Social Factors Consumers’ social status and cultural background shape their preferences and consumption patterns. For example, luxury items may be more appealing in high-status cultures. Family Reference Groups Social Status and Culture

Answer 55

Social Status and Culture

Question 56

Situational Factors The environment in which the purchase decision is made (store ambiance, online platform design) can influence the decision-making process. Physical Environment: Time: Purchase Task Antecedent States

Answer 56

Physical Environment:

Question 57

Situational Factors The reason for the purchase (e.g., a gift vs. a necessity) can alter the decision-making process. Physical Environment: Time: Purchase Task Antecedent States

Answer 57

Time

Question 58

Situational Factors Time pressure, urgency, or available time for decision-making can affect whether a consumer makes a quick, impulse purchase or takes a longer time for consideration. Physical Environment: Time: Purchase Task Antecedent States

Answer 58

Purchase Task

Question 59

Situational Factors Consumers’ mood or emotional state can affect their decision-making. For example, a person who is stressed or anxious might be more impulsive or make hasty decisions. Physical Environment Time: Purchase Task Antecedent States

Answer 59

Antecedent States

Question 60

Decision-Making Models Assumes that consumers are rational and make decisions based on maximizing utility (satisfaction). Consumers evaluate products based on price and perceived benefits. A. The Economic Model B. The Psychological Model C. The Behavioral Model

Answer 60

A. The Economic Model

Question 61

Decision-Making Models This model acknowledges that consumers are influenced by psychological factors such as perception, motivation, and learning, not just rational considerations. A. The Economic Model B. The Psychological Model C. The Behavioral Model

Answer 61

B. The Psychological Model

Question 62

Decision-Making Models focuses on how external stimuli (e.g., advertising, sales promotions) can shape consumer behavior and decision-making A. The Economic Model B. The Psychological Model C. The Behavioral Model

Answer 62

C. The Behavioral Model

Question 63

The Consumer Decision-Making Process Model (Five-Stage Model)

Answer 63

1.Need Recognition: The consumer identifies a need. 2.Information Search: The consumer seeks information about the alternatives. 3.Evaluation of Alternatives: The consumer compares options based on criteria. 4.Purchase Decision: The consumer selects the product. 5.Post-Purchase Behavior: The consumer evaluates the purchase and experiences satisfaction or dissatisfaction.

Question 64

By understanding the different types of consumers, marketers can target specific segments with tailored messaging and offers. Market Segmentation Positioning Brand Loyalty Programs Customer Experience Management

Answer 64

Market Segmentation

Question 65

Companies can position their products in a way that resonates with their target consumers' needs and values. Market Segmentation Positioning Brand Loyalty Programs Customer Experience Management

Answer 65

Positioning

Question 65

Building customer loyalty through rewards, discounts, and exceptional customer service can increase repeat purchases. Market Segmentation Positioning Brand Loyalty Programs Customer Experience Management

Answer 65

Brand Loyalty Programs

Question 66

Enhancing the overall customer experience, both online and offline, can influence purchasing decisions and foster brand loyalty. Market Segmentation Positioning Brand Loyalty Programs Customer Experience Management

Answer 66

Customer Experience Management

Question 67

is a complex and multi-faceted process that is influenced by psychological, social, personal, and situational factors

Answer 67

Consumer decision-making