Exam 1: The foundations of consumer behaviour

_________ are very satisfied customers but have no real loyalty to the company and may defect because of a lower price elsewhere or on impulse, defying the satisfaction-loyalty rationale.

The implicit marketing objective of the production concept included:

Industry trade practices, advertising and pricing practices are monitored by the:

Studies have shown that small reductions in customer defection produce increased profits because loyal customers are more price-sensitive than new customers.

The product concept assumes that consumers will buy the product that offers them the highest quality, the best performance and the most features.

The underlying premise of the marketing concept is that a company should:

Which of the following is an incorrect statement about buyers and users?

The selling concept focuses on selling products that the target market demands.

A personal consumer buys goods for all except:

According to customer satisfaction research, one type of customer, the mercenary, is a very satisfied consumer who has no real loyalty to the company.

A marketer 'in love' with his or her product is typical of the selling concept.

An organisation using online data freely available from the Australian Business Statistics (ABN) website for their consumer research, is considered an example of primary data.

Some consumers flock to the thousands of McDonald's outlets because they know what to expect and know they are getting value for the resources expended. Other consumers however, do not feel they get value for money. This is because:

Many product life cycles are increasing as products are modified, improved or replaced by new and substitute products.

Identify and concisely describe the three distinct and interlocking stages of the consumer decision making model.

The societal marketing concept sees all marketers adhering to principles of social responsibility in the marketing of their goods and services which means that:

In the customer pyramid classification, where customers are ranked according to profitability, the gold tier group members are those who are all of the following except:

Product trial or product exploration happens in:

The use of focus groups and in-depth interviews with subjects are examples of quantitative research.

Astute marketers realise that in order to outperform the competition, they must achieve full profit potential from each and every customer by viewing each customer as a(n) _____ rather than a _____.