Exam 2: Value and the Consumer Behavior Value Framework

Which of the following is at the heart of the consumer value framework and the focus of marketing efforts?

Which of the following terms refers to the way a company goes about creating value for its customers?

Marketing myopia is defined as a condition in which a company views itself competing in a value or benefits producing business rather than in a product business.

Value equals the difference between what you get and what you have to give to get the product.

An automobile marketer is interested in studying the internal influences that affect the psychology of the potential buyers of luxury automobiles.Which of the following would this marketer be interested in studying?

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 _____.

Since childhood,Meg's parents always told her that milk is good for health.As a result,Meg developed a liking for milk and started drinking it regularly.In this case,Meg's thinking or mental process is referred to as _____.

Which of the following is considered a part of the consumer's personality?

_____ value is derived from a product that helps a consumer solve problems and accomplish tasks that are a part of being a consumer.

_____ strategy deals with how the firm will be defined and sets general goals.

Andrea purchased an Apple iPad and an extended warranty.She also purchased a gaming application specially developed for Apple iPad.The application purchased by Andrea,is an example of a(n)_____ product.

Which of the following is an example of a marketing tactic?

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

Individual differences,which include personality and lifestyle,help determine consumer behavior.

A blue ocean strategy seeks to position a firm so far away from competitors that,when successful,the firm creates an industry of its own and at least for a time,isolates itself from competitors.

The business practice wherein companies operate with the understanding that products provide value in multiple ways is called the _____ concept.

Which of the following,on a perceptual map,represents the combination of product characteristics that provide the most value to an individual consumer or market segment?

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?

Which of the following is an element of consumer psychology?

A departmental store realizes that it needs to increase revenue in the face of severe budget cuts due to the weak economy.The store has decided to run a sale every month and upgrade their stock more regularly,so that customers don't see the same products every month.They are going to begin offering a wider selection of brands for men and women.They plan to advertise on billboards,on radio,on television,and in newspapers throughout the state.The store will also send direct mail letters to regular customers.The sale,the wide selection of brands,and the promotion are examples of _____.