Exam 7: Consumer Behaviour

The process by which people select, organise and interpret information to form a meaningful picture of the world is known as:

Nationality groups such as Italians, Greek, Vietnamese and Maori are examples of social class.

The person who first suggests or thinks of the idea of buying a product or service is known as the:

Marketers of low- involvement products often use _____ and _____ to stimulate trial of a brand.

Personal factors that influence behaviour include occupation, economic circumstances, family, and culture.

Some marketers offer consumers making a relatively expensive purchase, the option of buying a second, related item for a marginal additional fee. For example, a fashion boutique is offering cashmere coats for sale at $500 each. However, for an additional $25 buyers can also obtain a matching scarf. The uptake rates on such offers is generally good because it is believed that consumers prefer to absorb the cost of the second item into a single purchase, rather than process the cost of the second item separately. This phenomenon is BEST explained by which of the following concepts from behavioural economics?

Scott Briggs, finance manager for Cabota Corporation, will determine how his company will finance its next major equipment purchase. In this purchasing situation, Scott has assumed the role of:

In terms of psychographics or value segments, the group which accounts for about 12 per cent of the population and is characterised by people who are directed by their peer group, watch a lot of TV and are always on the move. This is a description of which values segment?

Motivation research refers to qualitative research designed to probe consumers' hidden, subconscious motivations.

Some evidence suggests that consumers place a higher value on a separate gain such as a cash- back offer, rather than a single gain of the same value, such as a price discount. This phenomenon is BEST explained by which of the following concepts from behavioural economics?

When consumers are highly involved with an expensive, infrequent or risky purchase, but see little difference between brands, they are said to be undertaking which type of purchase situation?

A lifestyle is BEST defined by which of the following statements?

Lifestyle profiles a person's total pattern of living as expressed by that person's activities, interests and opinions.

The principle that people have a limited ability to collect and process information, to choose between their competing wants, and to work out the consequences of their actions is known as:

Jill Peters was very satisfied with the first Amway cosmetic product she purchased. She now seeks the Amway brand whenever she purchases any similar item. Jill's behaviour is explained by the concept of:

The principle that people have limited ability to collect and process information, to choose between their competing wants, and to work out the consequences of their actions is known as bounded rationality.

To assess and describe lifestyles, marketers use which of the following?

The set of basic values, perceptions, wants and behaviours learned by a member of society by family and other important institutions is known as:

By definition, a motive directs a person toward the satisfaction of some need.

Complex buying behaviour is MOST likely to occur in which of the following situations?