Exam 1: What Is CB and Why Should I Care

Anthropology focuses on the thoughts, feelings and behaviors that people have as they interact with other people.

A researcher measuring consumers' attitudes toward different brands on a scale ranging from 1 (very negative) to 5 (very positive) is using qualitative research.

A product is a potentially valuable bundle of benefits.

The acting out of a decision to give something up in return for something of greater value is known as _____.

Walmart's supply chain is as efficient and as economic as possible, which allows it to offer lower prices than competing retailers. With only a few exceptions, Walmart offers the same basic products in all of its stores, even worldwide. What orientation does this illustrate?

_____ refer to direct contacts between the firm and a customer.

_____ represents the study of consumption as a "lived experience" and relies on casual interviews with consumers from whom the researcher has won confidence and trust?

RESTAURANT RESEARCH SCENARIO Insight Research, a marketing research company, has been hired by a national chain of family restaurants to help them better understand their customers and how to serve them better. The restaurant chain has several competitors competing for the same type of customers and has experienced sales declines in the past few years. Researchers go "under cover" and pretend to be customers so that they will fit in while they observe the interactions between customers and the wait staff. Then they write a report of their interpretations of what they experienced personally while pretending to be a customer as well as what they saw regarding interactions of other customers with each other and with the employees of the restaurant. Some example conclusions drawn were that the employees were not especially attentive to the customers and that customers were overheard as saying they didn't intend to come back. Some researchers also noted that the food was not very good, and they saw several customers send orders back. -Refer to Restaurant Research Scenario. When customers interact with the wait staff, what are these interactions called?

The phenomenological researcher relies on highly-structured, formal interviews with consumers.

Social psychologists focus on the _____.

Consumer behavior is the set of value-seeking activities that take place as people go about addressing realized needs.

One theory explaining why companies succeed or fail is attribution theory.

Marketing's roots in economics are evident in the production and distribution of goods.

RESTAURANT RESEARCH SCENARIO Insight Research, a marketing research company, has been hired by a national chain of family restaurants to help them better understand their customers and how to serve them better. The restaurant chain has several competitors competing for the same type of customers and has experienced sales declines in the past few years. Researchers go "under cover" and pretend to be customers so that they will fit in while they observe the interactions between customers and the wait staff. Then they write a report of their interpretations of what they experienced personally while pretending to be a customer as well as what they saw regarding interactions of other customers with each other and with the employees of the restaurant. Some example conclusions drawn were that the employees were not especially attentive to the customers and that customers were overheard as saying they didn't intend to come back. Some researchers also noted that the food was not very good, and they saw several customers send orders back. -Refer to Restaurant Research Scenario. Which of the following can be a criticism of the research approach used by Insight Research?

The Ritz-Carlton Hotel has a culture that embodies the importance of creating value for guests among all employees. One way this is implemented is giving the front desk employees the authority to correct a problem presented by a guest without having to have approval from a manager. Which type of orientation does his company embrace?

Marketing as a recognized discipline grew out of which two other disciplines?

Costs involve more that just the price of the product.

Data generated from qualitative research are considered "researcher-dependent."

The first step in the basic consumption process is _____.

Marketing activities include the production, promotion, pricing, and distribution of goods, services, ideas, and experiences that provide value for consumers and other stakeholders.