Exam 1: Consumer Behavior: Information-Driven Consumer Behavior

The focus of the ________ was to sell more of what the manufacturing department was able to produce.

Which of the four disciplines that helps shape our understanding of consumer behavior is defined as the study of the human mind and the mental factors that impact behavior?

Once or twice a year, when Estee Lauder runs a particularly good promotion, Candace buys some new make-up. She typically only spends the minimum required to qualify for the promotion. On the customer profitability pyramid, Candace is most likely to fall into the ________ tier.

Antoine is in charge of customer acquisition and retention. He allocates more of his budget to customer retention than customer acquisition. Why does Antoine's decision make sense?

Post-purchase benefits such as warranties and return policies are part of the place element of the marketing mix.

Researchers have identified two interrelated forms of customer engagement with marketers: ________ and ________.

Socially responsible activities can result in ________.

An example of a company that applied the production concept in the early twentieth century is ________.

Identify and briefly describe the two interrelated forms of customer engagement with marketers. Provide an example that shows why a company needs to consider both types of engagement.

Most products do not have substitutes or similar products in the marketplace, so having a distinct benefit is usually unimportant for marketers.

Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers. Ryan decides to focus his attention on that segment of the market that is interested in running. This selection of a specific market segment is known as ________.

Implementing the marketing concept includes consumer research, market segmentation, a combination of the product, price, place and promotion strategies, providing value, and long-term customer satisfaction and retention.

The adoption of digital technologies has introduced drastic changes into the business environment, including which of the following?

$\text{RYAN'S RUNNERS MINI CASE}$ : Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner. -In the RYAN'S RUNNERS MINI CASE, by portraying his store as a one-stop-shop for all your running needs, Ryan has developed a distinct image for his store. This is an example of ________.

Tripp runs a product development division at a software company. His division was focused on producing a word processing software that performs better and has more features than any competitive product, so they added every feature that was technically feasible. However, they found that consumers were satisfied with fewer features and unwilling to pay more for the advanced software. Tripp and his team suffered from ________.

Which of the following is an example of how the Internet affects prices and distribution?

In terms of expectations, when is a customer not satisfied, satisfied, and delighted?

Which tier of customers is most likely to get "fired" by a firm?

$\text{AIRLINE MINI CASE:}$ Transatlantic Airlines flies between popular destinations in the United States and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made online, and users of the Transatlantic website must register before they search for flights. Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing. This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase. Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class. -In the AIRLINE MINI CASE, by tracking flight searches and developing services to better meet customers' unfulfilled needs, Transatlantic adheres to the ________.

Ryan runs a store that caters to athletes. He divides the athletic market into different subsets of shoe consumers, such as runners, basketball players, and golfers, which is known as ________.