Exam 2: Value and the Consumer Behavior Value Framework

The core concept of consumer behavior is value.

A CRM system allows a firm to be more customer-focused.

Individual differences are characteristic traits of individuals, including personality and lifestyle.

A cosmetic manufacturer was looking at a graphical display of how women perceived different brands of cosmetics and was dismayed to learn that its brand was clustered with brands that are targeted toward older women, not the younger women the marketer was trying to reach. The graphical depiction of the positioning of competing brands the marketer was using is called a(n) _____.

The degree to which a consumer is sensitive to changes in some product characteristic is known as _____.

SUPERFOCUS SCENARIO Superfocus is a revolutionary concept in eye glasses--it even received a 2010 The Wall Street Journal innovation award. It is a type of eyeglass that allows the wearer to change correction without changing glasses, or having to look through a certain part of the lens like bifocal and progressive lens wearers must do. The round lenses are actually two lenses with a clear fluid in-between. The outer lens is hard, while the inner lens is flexible. There's a little slider on the bridge that, when moved, pushes the fluid and changes the shape of the inner, flexible, lens. That, in turn, changes the correction, so a user can see near, far, and everything in-between just by changing the position of the slider. The only catch is that the lens have to be perfectly round and the frames are made out of stainless steel or titanium aluminum, limiting the frame style and color choices for consumers. Actually, they look pretty goofy. Superfocus can be purchased through eye care professionals or directly from the manufacturer online. The company has recently started using direct-response television advertising to drive traffic to the website so consumers can learn more about this product and sign up for a free trial offer. With prices starting at $700 a pair, the free trial might help overcome some resistance due to the relatively high price. -Refer to Superfocus Scenario. Which external influence in the Consumer Value Framework is likely to discourage consumers from purchasing these glasses?

To deliver superior customer value, different business units within the firm must have the same marketing strategy.

Positioning refers to the way a product is perceived by a consumer.

A product with backward sloping demand _____

What do the x- and y-axes on a perceptual map represent?

Strategies exist at more than one level in an organization.

Explain why marketing plays an important strategic role in an organization and describe where marketing strategy fits in the bigger organization.

All of the following are examples of benefits received from consumption EXCEPT _____.

Price is the best indicator of value.

Both consumers and marketers enter exchanges seeking value.

When a consumer realizes high value from an exchange with a company, _____ improves.

Consumer segments exist because different consumers do not value different alternatives the same way.

Internal influences include the social and cultural aspects of life as a consumer.

It's the day before Christmas and Mark has not even started shopping for gifts for his family. He rushes to the mall and buys the first things he sees. Which of the following is most likely having the greatest impact on Mark's behavior?

SUPERFOCUS SCENARIO Superfocus is a revolutionary concept in eye glasses--it even received a 2010 The Wall Street Journal innovation award. It is a type of eyeglass that allows the wearer to change correction without changing glasses, or having to look through a certain part of the lens like bifocal and progressive lens wearers must do. The round lenses are actually two lenses with a clear fluid in-between. The outer lens is hard, while the inner lens is flexible. There's a little slider on the bridge that, when moved, pushes the fluid and changes the shape of the inner, flexible, lens. That, in turn, changes the correction, so a user can see near, far, and everything in-between just by changing the position of the slider. The only catch is that the lens have to be perfectly round and the frames are made out of stainless steel or titanium aluminum, limiting the frame style and color choices for consumers. Actually, they look pretty goofy. Superfocus can be purchased through eye care professionals or directly from the manufacturer online. The company has recently started using direct-response television advertising to drive traffic to the website so consumers can learn more about this product and sign up for a free trial offer. With prices starting at $700 a pair, the free trial might help overcome some resistance due to the relatively high price. -Refer to Superfocus Scenario. While consumers need and want this type of eyeglass, they also want something that looks fashionable. Most consumers would not consider the round silver stainless steel or titanium aluminum charcoal gray frame fashionable. Thus, on a perceptual map, Superfocus would _____.