Question 1

In the context of the changing economy, which of the following statements is true?

Accepted Answer

A)  Economic, political, and social turmoil around the world has made consumers less cautious about spending money. 
B)  Mature workers are not apt to retire even with the decreased opportunity to work at an acceptable wage. 
C)  Many college students are deciding to stay in school longer, given limited prospects in the workforce. 
D)  Family size is increasing throughout most of Western culture with European families averaging three children per family. 
A)  Economic, political, and social turmoil around the world has made consumers less cautious about spending money. 
B)  Mature workers are not apt to retire even with the decreased opportunity to work at an acceptable wage. 
C)  Many college students are deciding to stay in school longer, given limited prospects in the workforce. 
D)  Family size is increasing throughout most of Western culture with European families averaging three children per family.

Question 2

In the context of internationalization, companies must deal with geographical distances as well as cultural distances.

Accepted Answer

A) True 
 B)False

Question 3

Theodore Levitt, one of the most famous marketing researchers, emphasized the importance of:

Accepted Answer

A)  the value received by a customer from a product. 
B)  the tangible features of a product as observed by a customer. 
C)  the profits from the sale of a product. 
D)  the features of a product. 
A)  the value received by a customer from a product. 
B)  the tangible features of a product as observed by a customer. 
C)  the profits from the sale of a product. 
D)  the features of a product.

Question 4

In the context of consumer behavior (CB), researchers derive meaning from talking to people and observing their behavior rather than analyzing data in _____.

Accepted Answer

A)  quantitative research 
B)  interpretive research 
C)  predictive analytics 
D)  prescriptive analytics 
A)  quantitative research 
B)  interpretive research 
C)  predictive analytics 
D)  prescriptive analytics

Question 5

_____ addresses questions about consumer behavior (CB) using numerical measurement and analysis tools.

Accepted Answer

A)  Quantitative research 
B)  Ethnographic research 
C)  Qualitative research 
D)  Interpretive research 
A)  Quantitative research 
B)  Ethnographic research 
C)  Qualitative research 
D)  Interpretive research

Question 6

Interpretive research better enables researchers to test hypotheses as compared to quantitative research.

Accepted Answer

A) True 
 B)False

Question 7

Some marketers offer each individual customer a different product, so each customer is essentially treated as a single market segment. Which of the following marketing plans does this represent?

Accepted Answer

A)  One-to-one marketing 
B)  Niche marketing 
C)  Transactional Marketing 
D)  Close Range Marketing 
A)  One-to-one marketing 
B)  Niche marketing 
C)  Transactional Marketing 
D)  Close Range Marketing

Question 8

Which of the following is an example of the kind of information that is included in big data?

Accepted Answer

A)  Focus group interviews 
B)  Case analyses 
C)  Survey responses 
D)  Clinical interviews 
A)  Focus group interviews 
B)  Case analyses 
C)  Survey responses 
D)  Clinical interviews

Question 9

Which of the following orientations is best suited to a differentiated marketer?

Accepted Answer

A)  Resource orientation 
B)  Production orientation 
C)  Market orientation 
D)  Sales orientation 
A)  Resource orientation 
B)  Production orientation 
C)  Market orientation 
D)  Sales orientation

Question 10

In the context of marketing strategy, differentiated marketers:

Accepted Answer

A)  specialize in serving segments in which consumers do not have specific desires. 
B)  adopt a production orientation. 
C)  focus on the mass production of products. 
D)  minimize the need for consumer research. 
A)  specialize in serving segments in which consumers do not have specific desires. 
B)  adopt a production orientation. 
C)  focus on the mass production of products. 
D)  minimize the need for consumer research.

Question 11

Obtaining resources from consumers in return for the value they create is a basic tenet of the _____, which is a theory that explains why companies succeed or fail.

Accepted Answer

A)  cognitive resource theory 
B)  resource-advantage theory 
C)  resource dependence theory 
D)  need-hierarchy theory 
A)  cognitive resource theory 
B)  resource-advantage theory 
C)  resource dependence theory 
D)  need-hierarchy theory

Question 12

A part, or tangible feature, of a product that potentially delivers a benefit of consumption in called a touchpoint.

Accepted Answer

A) True 
 B)False

Question 13

A market orientation:

Accepted Answer

A)  focuses exclusively on providing consumer value to remain ahead in a market. 
B)  focuses on eliminating all competition from a market and establishing market monopoly. 
C)  stresses the need to monitor and understand competitor actions in the marketplace. 
D)  stresses the need to prioritize the profitability of a company over consumer value. 
A)  focuses exclusively on providing consumer value to remain ahead in a market. 
B)  focuses on eliminating all competition from a market and establishing market monopoly. 
C)  stresses the need to monitor and understand competitor actions in the marketplace. 
D)  stresses the need to prioritize the profitability of a company over consumer value.

Question 14

Megan is excited about her upcoming high school prom. Although she has many dresses, she decides to go shopping for a new one. In this scenario, the dress is an example of a _____ in the basic consumption process.

Accepted Answer

A)  necessity 
B)  touchpoint 
C)  want 
D)  reaction 
A)  necessity 
B)  touchpoint 
C)  want 
D)  reaction

Question 15

Decisions about household budget allocation are not very relevant aspects of consumer behavior (CB).

Accepted Answer

A) True 
 B)False

Question 16

In undifferentiated marketing, _____.

Accepted Answer

A)  a market orientation is adopted 
B)  a stakeholder orientation is adopted 
C)  the emphasis is on matching a product with a segment 
D)  the same basic product is offered to all customers 
A)  a market orientation is adopted 
B)  a stakeholder orientation is adopted 
C)  the emphasis is on matching a product with a segment 
D)  the same basic product is offered to all customers

Question 17

FaveMart, a discount chain store, offers the same basic products in all of its stores. It has a state-of-the-art distribution network, and it ships massive quantities of products to its stores around the world. Due to large quantities, the shipping is very economical, and the store is able to offer lower prices than competing retailers. FaveMart follows a _____ approach for innovation.

Accepted Answer

A)  market orientation 
B)  monopolistic orientation 
C)  production orientation 
D)  customer orientation 
A)  market orientation 
B)  monopolistic orientation 
C)  production orientation 
D)  customer orientation

Question 18

Social psychology deals with the intricacies of mental reactions involved in information processing.

Accepted Answer

A) True 
 B)False

Question 19

A _____ is a key component of a firm with a market-oriented culture.

Accepted Answer

A)  consumer orientation 
B)  stockholder approach 
C)  product orientation 
D)  monopolistic approach 
A)  consumer orientation 
B)  stockholder approach 
C)  product orientation 
D)  monopolistic approach

Question 20

Consumption is a value-producing process in which the marketer and the consumer interact to produce value.

Accepted Answer

A) True 
 B)False

In the context of the changing economy, which of the following statements is true?

In the context of internationalization, companies must deal with geographical distances as well as cultural distances.

Theodore Levitt, one of the most famous marketing researchers, emphasized the importance of:

In the context of consumer behavior (CB), researchers derive meaning from talking to people and observing their behavior rather than analyzing data in _____.

_____ addresses questions about consumer behavior (CB) using numerical measurement and analysis tools.

Interpretive research better enables researchers to test hypotheses as compared to quantitative research.

Some marketers offer each individual customer a different product, so each customer is essentially treated as a single market segment. Which of the following marketing plans does this represent?

Which of the following is an example of the kind of information that is included in big data?

Which of the following orientations is best suited to a differentiated marketer?

In the context of marketing strategy, differentiated marketers:

Obtaining resources from consumers in return for the value they create is a basic tenet of the _____, which is a theory that explains why companies succeed or fail.

A part, or tangible feature, of a product that potentially delivers a benefit of consumption in called a touchpoint.

A market orientation:

Megan is excited about her upcoming high school prom. Although she has many dresses, she decides to go shopping for a new one. In this scenario, the dress is an example of a _____ in the basic consumption process.

Decisions about household budget allocation are not very relevant aspects of consumer behavior (CB).

In undifferentiated marketing, _____.

Social psychology deals with the intricacies of mental reactions involved in information processing.

A _____ is a key component of a firm with a market-oriented culture.

Consumption is a value-producing process in which the marketer and the consumer interact to produce value.

Value and the Consumer Behavior Framework

Consumer Learning Starts Here: Perception

Comprehension, Memory, and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality, Lifestyles, and the Self-Concept

Attitudes and Attitude Change

Group and Interpersonal Influence

Consumer Culture

Microcultures

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making II: Alternative Evaluation and Choice

Consumption to Satisfaction

Beyond Consumer Relationships

Consumer and Marketing Misbehavior

Filters

Exam 1: What is CB and Why Should I Care?

In the context of the changing economy, which of the following statements is true?

In the context of internationalization, companies must deal with geographical distances as well as cultural distances.

Theodore Levitt, one of the most famous marketing researchers, emphasized the importance of:

In the context of consumer behavior (CB), researchers derive meaning from talking to people and observing their behavior rather than analyzing data in _____.

_____ addresses questions about consumer behavior (CB) using numerical measurement and analysis tools.

Interpretive research better enables researchers to test hypotheses as compared to quantitative research.

Some marketers offer each individual customer a different product, so each customer is essentially treated as a single market segment. Which of the following marketing plans does this represent?

Which of the following is an example of the kind of information that is included in big data?

Which of the following orientations is best suited to a differentiated marketer?

In the context of marketing strategy, differentiated marketers:

Obtaining resources from consumers in return for the value they create is a basic tenet of the _____, which is a theory that explains why companies succeed or fail.

A part, or tangible feature, of a product that potentially delivers a benefit of consumption in called a touchpoint.

A market orientation:

Megan is excited about her upcoming high school prom. Although she has many dresses, she decides to go shopping for a new one. In this scenario, the dress is an example of a _____ in the basic consumption process.

Decisions about household budget allocation are not very relevant aspects of consumer behavior (CB).

In undifferentiated marketing, _____.

Social psychology deals with the intricacies of mental reactions involved in information processing.

A _____ is a key component of a firm with a market-oriented culture.

Consumption is a value-producing process in which the marketer and the consumer interact to produce value.

Value and the Consumer Behavior Framework

Consumer Learning Starts Here: Perception

Comprehension, Memory, and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality, Lifestyles, and the Self-Concept

Attitudes and Attitude Change

Group and Interpersonal Influence

Consumer Culture

Microcultures

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making II: Alternative Evaluation and Choice

Consumption to Satisfaction

Beyond Consumer Relationships

Consumer and Marketing Misbehavior

Filters