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

An economist's focus on consumer behavior (CB) is generally a micro perspective bounded by specific assumptions.

In the context of consumer behavior (CB), the interactions between customers and the wait staff of a restaurant are called _____.

In the context of technological changes and internationalization, which of the following statements is true?

Briefly explain interpretive research.

Which of the following types of research includes tools such as case analyses, clinical interviews, focus group interviews, and other tools in which data are gathered in a relatively unstructured way?

Cognitive psychology is helpful in understanding how consumers process information from marketing communications such as advertisements.

One demographic trend that has shaped consumer behavior (CB) patterns is the increasing family size throughout most of Western culture.

Briefly explain why internationalization places a greater demand on consumer behavior (CB) research.

In the context of consumer behavior (CB) and marketing strategy, a product is a sum of its attributes.

A consumer's perception of a product determines the success or failure of the product being offered.

Consumers usually have negative net worth years into their professional life because of the debt accumulated in early adulthood.

How does a company with a consumer orientation differ from a company with a stakeholder orientation?

Costs are the positive results of consumption experiences.

The term _____ is used to capture the market activity involving temporary usage for hire (rentals) as a replacement for traditional ownership.

Explain why consumers get treated differently in different types of exchange environments.

The resource-advantage theory primarily explains the manner in which human resources must be managed in a company.

A(n) _____ is a part, or tangible feature, of a product that potentially delivers a benefit of consumption.

Kim Mathews, a retired school teacher, recently relocated to her old neighborhood. To her dismay, she learned that the trash collection company in the area charged almost double the price compared to the companies in other areas. She complained to the company manager but was rudely told that she had to either pay the fee or dispose the trash on her own. Kim had no other option but to pay the fee. The most likely reason the company had such poor customer service is that it:

Undifferentiated marketers generally adopt a market orientation.

List a few topics that can be particularly helpful in enlightening consumers about consumer behavior (CB).