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Consumer Behavior: Exercises and Questions, Exams of Advanced Education

University of WitwatersrandAdvanced Education

A series of questions and answers related to consumer behavior, covering topics such as the consumer decision process, market segmentation, and the marketing mix. It provides a practical understanding of key concepts and their application in marketing strategy.

Typology: Exams

2024/2025

Available from 12/15/2024

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CONSUMER BEHAVIOR
What is the first step in the consumer decision process? - problem recognition
Rod is surveying consumers to gain a better understanding of his restaurant's image
relative to competing restaurants. Rod is concerned with his restaurant's - Position
A(n) __________ is anything a consumer acquires or might acquire to meet a perceived
need. - Product
Harold is tasked with developing the marketing strategy for his family's business. What
should he do first? - conduct a market analysis
A product's position refers to - an image of the product in the consumer's mind relative
to competing products.
Which of the following is not evaluated when analyzing a company's own ability to meet
customer needs? - Competitors
Karen was at the checkout at the grocery store and remembered that she was out of
chewing gum that she normally likes to keep in her purse. Without much thought, she
grabbed two packages of the gum she likes. What type of consumer decision does this
illustration? - low-involvement decision
Thomas wants to gain a usable understanding of consumer behavior in order to help
him become a more effective marketing manager. Which application of consumer
behavior does this represent? - marketing strategy
Amy purchased a new 32" LCD high-definition television and paid $400 for it. This
amount of money Amy had to pay to obtain this product is known as the - Price
The difference between all the benefits derived from a total product and all the costs of
acquiring those benefits is known as - customer value.
Laurie saved for six months to have enough money to buy a new designer outfit to wear
to a special party. She had to travel to a larger city to purchase this outfit, but it was
worth it to her because it made her feel beautiful and confident. The difference between
the benefits Laurie perceived from this purchase and the cost to her to acquire these
benefits describes her - customer value.
Which is not a step in the consumer's decision process? - self-concept analysis
What is the last step in market segmentation? - selecting an attractive segment(s) to
serve
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CONSUMER BEHAVIOR

What is the first step in the consumer decision process? - problem recognition Rod is surveying consumers to gain a better understanding of his restaurant's image relative to competing restaurants. Rod is concerned with his restaurant's - Position A(n) __________ is anything a consumer acquires or might acquire to meet a perceived need. - Product Harold is tasked with developing the marketing strategy for his family's business. What should he do first? - conduct a market analysis A product's position refers to - an image of the product in the consumer's mind relative to competing products. Which of the following is not evaluated when analyzing a company's own ability to meet customer needs? - Competitors Karen was at the checkout at the grocery store and remembered that she was out of chewing gum that she normally likes to keep in her purse. Without much thought, she grabbed two packages of the gum she likes. What type of consumer decision does this illustration? - low-involvement decision Thomas wants to gain a usable understanding of consumer behavior in order to help him become a more effective marketing manager. Which application of consumer behavior does this represent? - marketing strategy Amy purchased a new 32" LCD high-definition television and paid $400 for it. This amount of money Amy had to pay to obtain this product is known as the - Price The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as - customer value. Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her - customer value. Which is not a step in the consumer's decision process? - self-concept analysis What is the last step in market segmentation? - selecting an attractive segment(s) to serve

J&J Produce is a distributor of fresh produce. They conducted a thorough analysis of its market and identified groups of consumers that had similar product-related needs. One particular market identified wanted fresh and unique produce, such as Swiss chard, radicchio, and exotic fruits, and they were willing to pay higher prices for these choices. J&J Produce decided to focus its marketing effort on this segment of the total market. This segment is J&J's - target market. Kate Spade is a brand of clothing, accessories, and home products. Brand managers at this company are trying to learn which internal influences impact their customers' needs and desires most. Which of the following is a possible internal influence these managers should examine? - Personality __________ represents how one lives, including the products one buys, how one uses them, what one thinks about them, and how one feels about them - Lifestyle Which of the following is part of the marketing mix? - All of these choices are correct. Most economically developed societies are legitimately referred to as __________ societies. - consumption Smaller women like to purchase fashionable clothes just as much as any women. However, most clothes are not proportioned for their smaller size and do not fit well. As a result, several manufacturers offer "petite" sizes of clothing for this group of consumers. Women who comprise this group have needs that differ somewhat from the total market and represent a - market segment Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing - social marketing. Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a respectable status in his life and career. He also wants it to be a high- performance automobile. Dependability, status, and performance represent Barry's - need set. __________ is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

  • Consumer behavior Bob and his friends go out every weekend and drink until they get drunk. Then they drive home in that condition. Which type of consumption does this represent? - injurious consumption Jamie is developing a thorough understanding of his company's own capabilities, the capabilities of current and future competitors, the consumption process of potential customers, and the economic, physical, and technological environment in which these

satisfaction is based on the distinction between - actual need fulfillment and perceived need fulfillment. Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the product, features, price, communications, distribution, and services that will provide customers with superior value. This entire set of characteristics is often referred to as the - total product. Which of the following is not an application of consumer behavior? - human resource management How can an organization provide superior customer value to customers? - by doing a better job of anticipating and reacting to customer needs than the competition does Timothy and his wife are considering the purchase of a new car. In addition to the price, they are also considering the cost of insurance, gasoline, maintenance, finance charges, and license fees. All of these factors combined represent the - consumer cost. Auxiliary or peripheral activities that are performed to enhance the primary product or primary service is referred to as - Service. Talbot's is a women's clothing store that offers classic fashions at a slightly premium price (i.e., a wool skirt typically costs over $100). During the process of market segmentation, Talbot's identified a group of consumers who are larger than average women yet still want stylish clothing. Further research into this segment revealed that these women tend to be between the ages of 35 and 50, are career-oriented, have a household income over $50,000, and are married with children under the age of 18 living at home. This group is also heavy users of magazines and newspapers as well as prime-time television. Which step of market segmentation does this describe? - describing each group To survive in a competitive environment, an organization must provide its target customers more __________ than is provided to them by its competition. - Value Juan has segmented the market for boats and is currently analyzing each with respect to several factors, such as size, growth rate, competitor strength, fit with company image, distribution available, cost to serve, and risk before deciding which segment to target. Which step of market segmentation is Juan conducting? - selecting an attractive segment(s) to serve Which is not an external influence on consumer behavior? - Perception Which of the following is used to describe a group of consumers with similar needs sets? - demographics, lifestyles, and media usage Which of the following is not a step in market segmentation? - set budget

Teresa is trying to understand her customers better. She is examining the external influences that shape her customers' self-concepts and lifestyles. Which of the following is a possible external influence Teresa could examine? - Culture Which of the following is not considered one of the firm's outcomes of the marketing strategy and consumer behavior process? - Service A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) - market segment.