Exam 2: Value and the Consumer Behavior Value Framework

A marketing strategy provides an operating orientation for the company.

A(n)_____product includes the original product plus the extra things needed to increase the value from consumption.

Characteristics and traits,including personality and lifestyles,that help define a consumer are referred to as _____.

Natalie and her friends enjoy visiting upscale stores together even if they do not purchase anything.For them,the experience of shopping is an end in itself,not just a means to an end.While shopping,which of the following types of values do Natalie and her friends experience?

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

Superfocus Scenario Superfocus is a revolutionary concept in eyeglasses--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 lenses have to be perfectly round and the frames need to be made out of stainless steel or titanium aluminum. This limits the frame style and color choices for consumers. 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 the company's _____ market.

According to the Customer Relationship Management (CRM)orientation:

Explain how perceptual maps are useful in understanding consumers and delivering superior value.

A cosmetic manufacturer that targets young women was looking at a graphical display of how women perceived different brands of cosmetics.They found that their brand was clustered with brands that are targeted toward older women.This graphical depiction of the positioning of competing brands used by the marketer is an example of a _____.

Rather than being viewed as opposites,utilitarian and hedonic values are not mutually exclusive.

Product differentiation is a marketplace condition in which consumers do not view all competing products as identical to one another.

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

The core concept of consumer behavior is value.

The presence of music in an environment may shape consumer behavior and even change buying patterns.In this case,music is an example of a _____.

When firms fail to realize how their products provide value,they run the risk of developing _____.

The term augmented product means the original product plus the extra things needed to increase the value from consumption.

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

Strategies exist at more than one level in an organization.

Which of the following is an element of consumer psychology?

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