Exam 2: Value and the Consumer Behavior Value Framework

The realization that a consumer is necessary and must play a part in order to produce value is the major premise underlying the concept of _____.

A automobile marketer is interested in the psychological influences on potential buyers of luxury automobiles. Which of the following would this researcher be interested in studying?

People and groups who help shape a consumer's everyday experiences are part of the social environment.

The segment or segments of a market that a company services is called the focal market.

One conceptual difference between utilitarian value and hedonic value is that utilitarian value is an end in and of itself rather than a means to an end.

The marketing mix is the combination of product, pricing, promotion, and distribution strategies used to position some product offering or brand in the marketplace.

_____ refers to the feelings that are experienced during consumption activities or associated with specific objects.

The _____ represents consumer behavior theory illustrating factors that shape consumption-related behaviors that ultimately determine the value associated with consumption.

Which of the following is an internal influence on consumer value?

Which of the following on a perceptual map represents the combination of product characteristics that provide the most value to an individual consumer or market segment?

A university realizes it needs to increase revenue in the face of severe budget cuts due to the weak economy. The school decides to pursue students who have some college but have not completed their degrees. To do this, the university is offering online degree programs, charges extra fees for these students, offers a wide selection of online courses each semester, and advertises on billboards, on radio, on television, and in newspapers throughout the state. The school also sends direct mail letters to students who were previously enrolled at the school but did not complete their degree. The courses, the tuition, online delivery, and promotion are examples of _____.

Which environment includes the people and groups who help shape a consumer's everyday experiences?

Customer lifetime value (CLV) represents the approximate worth of a customer to a company in economic terms.

Learning, perception, memory, and attitudes are examples of elements comprising the personality of a consumer.

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. People who need multifocal lenses are Superfocus' _____.

All of the following are examples of marketing tactics EXCEPT _____.

The approximate worth of a customer to a company in economic terms is known as _____.

Marketing tactics include price, promotion, product, and distribution decisions.

Every Disney employee is thought of and trained to be a host or hostess with the express goal of making sure all guests feel good when they are there. Which of the follow refers to the feelings visitors experience while they are there and long after they've left?

A positioning map is used to depict graphically the positioning of competing products.