Exam 1: Consumer Behavior: Meeting Changes and Challenges

AIRLINE MINI CASE: Transatlantic Airlines flies between popular destinations in the US and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made on-line, and users of the Transatlantic web site must register before they search for flights.Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing.This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase.Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class. -In the AIRLINE MINI CASE,by tracking flight searches and developing services to better meet customers' unfulfilled needs,Transatlantic adheres to the ________.

Most companies today are able to target all the market segments that they have identified through their research.

How has TiVo presented a challenge to marketers?

Small reductions in customer defections produce significant increases in profits for all of the following reasons EXCEPT ________.

When advertising to teens,Matt's Mobile Services focuses its messaging on the importance of staying connected with friends so subscribers are always accessible and "in the loop" on the latest social news.This is an example of ________.

Lexus claims to deliver its buyers quality,zero defects in manufacturing,and superior and personal post-purchase service.This is an example of ________.

CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case.He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture.In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers. -In the CAR MINI CASE,which of the following elements of the marketing mix was central to Ford's business model?

Matt's Mobile Services has designed a cell phone plan especially for tech-savvy teens who are heavy cell-phone users and live in households earning over $150,000 per year.In tailoring the plan for a specific group of consumers based on their particular needs,Matt's Mobile Services has provided an example of ________.

"Me too" products are products that lack a unique image or benefit.

Four drivers of successful relationships between marketers and customers are customer value,high levels of customer satisfaction,a strong sense of customer trust,and building a structure that ensures customer retention.

Megan uses Bed Head hair products and enthusiastically recommends them to others any time she receives complements on her hair.With regard to hair products,Megan is best described as a(n)________.

What is the difference between the personal consumer and the organizational consumer?

CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case.He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture.In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers. -In the CAR MINI CASE,by offering a variety of cars to choose from,General Motors was able to differentiate itself from Ford by demonstrating to consumers that it could offer ________.

Sophisticated marketers today practice selective relationship building,which can lead to companies rejecting certain types of consumers.

Of the four Ps of the marketing mix,place includes ________.

The focus of the ________ is for marketers to know consumers' current needs,and to secure,as accurately as possible,a picture of their likely future needs.

The societal marketing concept calls on marketers to ________.

RYAN'S RUNNERS MINI CASE: Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners.He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running.Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner. -In the RYAN'S RUNNERS MINI CASE,by portraying his store as a one-stop-shop for all your running needs,Ryan has developed a distinct image for his store.This is an example of ________.

CAR MINI CASE: In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case.He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture.In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers. -In the CAR MINI CASE,Ford's business strategy focused on ________.

Of the four Ps of the marketing mix,price includes ________.