5 Written questions
5 Matching questions
- Julie is an experienced shopper. She has been doing the family's weekly shopping since she was twelve. She is not very interested in status items, and questions advertising claims. Julie is most likely to be in the ______________ generational cohort.
b) Generation W
c) Generation X
d) Baby Boomers
e) Generation Y
- When senior citizens or recent immigrants are pressured to take out loans they cannot pay back (often containing high fees, hidden costs, and higher rates of interest), these are referred to as:
a) predatory loans
b) consolidated loans
c) opportunistic financing
d) low yield loans
e) prime rate loans
- With respect to Alternative Evaluations during The Consumer Decision Process, Katie Smith know that there are a lot of apparel stores (_________ set). However, only some have the style that she is looking for, such as Macy's, Ann Taylor, The Gap, and Banana Republic (_________ set). She recalls that her Ann Taylor is where he mother shops and her sister loves Gap. Katie is sure that Banana Republic and Macy's carry business attire she would like, so only those stores are in her __________ set.
- The idea of value-based marketing requires firms to charge a price that
a) covers costs and generates a modest profit.
b) prioritizes customer excellence above operational excellence.
c) includes the value of the effort the firm put into the product or service.
d) captures the value customers perceive that they are receiving.
e) matches competitors' prices.
- Marketers in the United States are paying increasing attention to ethnic groups because:
a) government subsidies assist marketers attempting to communicate value to these groups
b) they represent a majority of the population in non-urban areas of the country
c) they are more susceptible to marketing messages
d) approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups
e) country culture is replacing regional culture as a key marketing consideration
- a universal set; retrieval set; evoked set
- b d) captures the value customers perceive that they are receiving.
- c a) predatory loans
The loans provided by predatory lenders, which target vulnerable consumers, are referred to as predatory loans
- d c) Generation X
- e d) approximately 80 percent of all population growth in the next 20 years is expected to come from minority groups
Ethnic groups represent a fast-increasing percentage of the U.S. population
5 Multiple choice questions
- e) affective
The words "like" and "love" are important here, as they represent feelings, which make up the affective component of an attitude. The cognitive component would be represented by beliefs (for example, the belief that Apple is better at innovation than its competitors). The behavioral component would be represented by actions (for example, the choice to buy an Apple computer instead of a Windows PC).
- d) Situational
This is an example of a situational factor, taking advantage of a weather condition that creates specific needs
- a) product development
The management of the just-in-time system is an internal issue; if it is being done badly, that makes it a weakness
- c) value proposition
The value proposition is the value of the firm's offering, as explained to the target market. Promotion is responsible for communicating this value proposition
5 True/False questions
Marcus does not make any impulse purchases and tends to purchase high-quality items from brands known for providing quality products. Marcus has plenty of time to research and identify the best product to buy. Which generational cohort does Marcus belong to?
a) Generation X
c) Baby Boomers
d) Generation Y
e) Tweens → b) They speak different languages and comer from different cultures
Asian consumers are not a single group-they come from many nations (i.e. China, Japan, Korea...) with different languages and cultures
Introducing newly developed products or services to a market segment the company is not currently serving is called → a) perceive it to be the better value for them
Value, the difference between what the customer gives and gets in an exchange, drives most consumer decision making.
E-books, in addition to being an alternative product form, provide _________ value creation since they can be downloaded via the internet immediately when they are needed.
f) All of the above → e) all of the above
The criteria listed help to determine the cost of acquiring new customers in the future, which is an important factor in assessing long-term profitability of a segment
What is value-based pricing? → Federal Food and Drug
Marketers often use principles and theories from __________ and __________ to decipher many consumer actions and develop basic strategies for dealing with their behavior → a) product development