Exam 11: Marketing Processes and Consumer Behavior

Which of the following occurs between similar products and is based on buyers' perceptions of the benefits of products offered by particular companies?

What is the term for the communication efforts that are designed to build goodwill and build favorable attitudes in consumers?

Marketing research is the study of behavioral variables.

Focus groups allow researchers to observe a group of participants gathered in one place while they explore issues associated with a product.

How can companies reduce the cost and delays involved in entering new markets?

Explain the difference between demographic variables and psychographic variables.

Personal influences on consumer behavior include lifestyle, personality, and economic status.

Rational motives involve nonobjective factors and include sociability, imitation of others, and aesthetics.

Which of the following describe(s)measurable traits about a consumer, such as income, gender, or marital status?

How do companies offer one-time direct inducements to buyers when promoting goods or services?

Which of the following do firms use to enhance public relations and branding while stimulating chatter about a product within a target market?

The formula for value is benefits divided by costs.

Why is it important for a company to develop new products?

What are the tangible and intangible qualities that a company builds into its products?

Which of the following represents a feature or image that makes one product different from its competitors?

Family members and friends can have a strong impact on consumer choices when acting as

What do most small business fail to estimate correctly, often resulting in the business failing?

When a small business identifies themselves and their products with local groups and events, what aspect of marketing are they pursuing?

How do organizations determine how to move products to customers?

Psychographics cannot be changed by marketing efforts.