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

Social psychology essentially deals with the intricacies of mental reactions involved in information processing within the individual,rather than between individuals.

RESTAURANT RESEARCH SCENARIO Insight Research, a marketing research company, has been hired by a national chain of family restaurants to help them better understand their customers and their preferences. The restaurant chain has several competitors competing for the same customer segments and has experienced sales declines in the past few years. Researchers go "under cover" and pretend to be customers so that they will fit in while they observe the interactions between customers and the wait staff. Subsequently, they write a report of their interpretations of what they experienced personally while pretending to be a customer. They also add in details of what they saw regarding interactions of other customers with each other and with the employees of the restaurant. Some conclusions drawn were that the employees were not especially attentive to the customers and that customers were overheard saying they didn't intend to return. Some researchers also noted that the food was not very good and they saw several customers return orders. -Refer to Restaurant Research Scenario.What are the interactions between the customers and the wait staff called?

_____ research addresses questions about consumer behavior using numerical measurement and analysis tools.

A need is a specific desire that spells out a way a consumer can go about addressing a recognized want.

Quantitative research is more likely to stand on its own and does not require deep interpretation.

Walmart's supply chain is as efficient and as economic as possible,which allows it to offer lower prices than competing retailers.With only a few exceptions,Walmart offers the same basic products in all of its stores,worldwide.What orientation does this illustrate?

Undifferentiated marketing means that the same basic product is offered to all customers.

Positive outcomes of consumption are referred to as _____.

Marie Johns is a psychologist who studies consumer behavior.She specializes in the mental reactions involved in consumer information processing,such as how advertisements persuade consumers to buy a product.Which field of psychology is Marie practicing?

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

Niche marketers specialize in serving one market segment with unique demand characteristics.

RESTAURANT RESEARCH SCENARIO Insight Research, a marketing research company, has been hired by a national chain of family restaurants to help them better understand their customers and their preferences. The restaurant chain has several competitors competing for the same customer segments and has experienced sales declines in the past few years. Researchers go "under cover" and pretend to be customers so that they will fit in while they observe the interactions between customers and the wait staff. Subsequently, they write a report of their interpretations of what they experienced personally while pretending to be a customer. They also add in details of what they saw regarding interactions of other customers with each other and with the employees of the restaurant. Some conclusions drawn were that the employees were not especially attentive to the customers and that customers were overheard saying they didn't intend to return. Some researchers also noted that the food was not very good and they saw several customers return orders. -Refer to Restaurant Research Scenario.Which of the following is the best reason why this restaurant chain should be concerned about customer satisfaction?

Consumer orientation primarily emphasizes:

Which discipline is often defined as the study of production and consumption?

Which of the following is a quantitative research tool?

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

Customers pay money for those products that they believe to be useful in satisfying their needs and wants.This transfer of money for goods or services is best described as _____.

A _____ orientation apart from understanding customers,stresses the need to monitor and understand competitor actions in the marketplace and the need to communicate information about customers and competitors throughout the organization.

Marketing has its origins in economics with respect to the production and distribution of goods.

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