Exam 5: Understanding Consumer Behavior

You have just purchased a Sony MP3 player.As you head home from the store, you debate in your mind about whether your choice of the Sony was right, or whether you should have chosen the RCA.This is most likely an example of

What does lifestyle mean, and why is it important to marketers?

Would you agree or disagree with the following statement: "It's a lot cheaper and easier to keep existing customers than to try to find new ones." Explain your answer.

In the VALS system, consumers who are looking for products and services that demonstrate success to their peers or to a peer group they aspire to are called the

The most basic of our needs are physiological, followed by safety, social, and personal type needs.According to the hierarchy of needs, what category of needs is of the highest order?

Self-concept refers to

Five situational influences that have an impact on a consumer's purchase decision process are the purchase task, social surroundings, temporal effects, antecedent states, and __________.

Ford Motor Company has set a target of increasing customer retention from 60 percent to 80 percent.Ford executives say that each additional percentage point is worth __________ in profits.

FIGURE 5-2 -In Figure 5-2 above, the column header at the left consists of the group of brands and their respective models.These are the __________ that a consumer's would consider acceptable from among all the brands in a product class of which he or she is aware.

In the VALS system, consumers who are motivated by __________ look for products and services that demonstrate success to their peers or to a peer group they aspire to.

Each of the VALS segments exhibits unique media preferences.Which segment would be the most likely to visit Internet chat rooms?

A person's ability to perceive differences in stimuli is referred to as

An Acura automobile ad is headlined by a quote from Henry David Thoreau, "Go in the Direction of Your Dreams." This ad is most likely to appeal to people's __________ needs.

In the VALS system, consumers who have lower levels of education and household income, and who favor stylish products and are as impulsive as their financial circumstances permit them to be are referred to as __________.

Marketers use three approaches to try to change consumer attitudes toward products and brands: (1) changing beliefs about the extent to which a brand has certain attributes; (2) changing the perceived importance of attributes; and (3) __________.

In the VALS system, consumers who are successful, sophisticated, take-charge people with high self-esteem and abundant resources of all kinds are referred to as __________.

When past experience is insufficient, the risk of making a wrong decision is high, and the cost of gathering information is low, a consumer is more likely to use __________ for information.

Consumer behavior includes the actions a person takes in purchasing services and using products and services, including

Carmine overheard one of his co-workers in a phone conversation say, "Thank you for taking my call so quickly.I'd like to order number RD 2217 MP3 player.Can I use the easy pay plan?" The co-worker was in which stage in the consumer purchase decision process?

An example of a marketer-dominated source of information for an external information search is