Question 1

If you are in an industrial products business,it is not important for you to understand your consumers.

Accepted Answer

A) True 
 B)False

Question 2

The ________ model is a popular model of decision making that requires information about how useful or important each attribute is to the customer making a brand choice and how customers perceive the brands in the evoked set in terms of their attributes.

Accepted Answer

A) attribution 
B) compensatory 
C) cluster 
D) multiattribute

Question 3

Increase in trialability of an innovation is positively related to its success.

Accepted Answer

A) True 
 B)False

Question 4

The task facing the marketing manager is to identify variables that describe customers in terms of their inherent characteristics,called descriptors,and to link those variables to customer behavior toward the product or service.

Accepted Answer

A) True 
 B)False

Question 5

According to the needs hierarchy theory,________ needs are based on job security and financial security.

Accepted Answer

A) physiological 
B) safety 
C) ego 
D) social

Question 6

According to the VALS system developed by SRI International,________ are poor,ill-educated,low-skilled,and elderly,with concerns about their security and safety.

Accepted Answer

A) strivers 
B) survivors 
C) believers 
D) thinkers

Question 7

A segmentation approach to the market is more efficient than a mass marketing approach because:

Accepted Answer

A) money is spent only on those whom the manager has determined are potential customers. 
B) it creates entry-barriers. 
C) customers are homogeneous. 
D) production costs for standardized products are minimal in comparison to customized products.

Question 8

For frequently purchased products,scanner panel data provide information about:

Accepted Answer

A) consideration set. 
B) inert set. 
C) evoked set. 
D) purchase set.

Question 9

Which of the following stages of the family life cycle best describes older married couples with dependent children?

Accepted Answer

A) Full nest II 
B) Empty nest I 
C) Empty nest II 
D) Full nest III

Question 10

Which of the following best describes a major source of secondary information on market segments?

Accepted Answer

A) primary data 
B) behavioral data 
C) syndicated data 
D) focus group data

Question 11

For many products and services,the value of owning them increases as the number of owners increases.This is the concept of:

Accepted Answer

A) trialability. 
B) relative advantage. 
C) observability. 
D) network externalities.

Question 12

Which of the following best describes conservative,conventional people whose beliefs revolve around family,church,community,and their country?

Accepted Answer

A) believers 
B) strivers 
C) makers 
D) survivors

Question 13

According to the VALS system developed by SRI International,________ are mature,satisfied comfortable people who value order,knowledge and responsibility.

Accepted Answer

A) strivers 
B) innovators 
C) thinkers 
D) believers

Question 14

Which of the following is one of the three sets of options that result from using internal and external information sources when seeking purchase alternatives?

Accepted Answer

A) prioritized set 
B) alternative set 
C) recognition set 
D) consideration set

Question 15

While evaluating options in a consideration set,the marketing manager must determine the set of attributes customers use in making purchase decisions.Which of the following methods is not recommended because of the bias introduced?

Accepted Answer

A) managerial judgement 
B) focus groups 
C) systematic survey research 
D) UPC code analysis

Question 16

In technology-based markets,the marketing manager must understand who the different customers that will purchase the product at the introductory stage of the product life cycle and who will purchase the product as it matures.According to Everett Rogers,which of the following types of customers will be the first to buy the product?

Accepted Answer

A) early adopters 
B) early majority 
C) innovators 
D) laggards

Question 17

________ is the concept that a customer will adopt an innovation only if he or she considers it to be an improvement over the current product being used to satisfy the same need.

Accepted Answer

A) Observability 
B) Planned obsolesence 
C) Relative advantage 
D) Need recognition

Question 18

The ________ model is any model in which a low score on one attribute can be offset by a higher score on another.

Accepted Answer

A) cluster 
B) segmentation 
C) compensatory 
D) attribution

Question 19

Which of the following is an example of an internal source of information?

Accepted Answer

A) advertisements 
B) past experiences with products 
C) recommendations of an opinion leader 
D) advice from an expert

Question 20

List and briefly describe the three different sets of options formed by customers in the search for alternatives through internal and external information sources.

Accepted Answer

The answer of List and briefly describe the three different...

Exam 4: Analyzing Consumer Behavior

If you are in an industrial products business,it is not important for you to understand your consumers.

The ________ model is a popular model of decision making that requires information about how useful or important each attribute is to the customer making a brand choice and how customers perceive the brands in the evoked set in terms of their attributes.

Increase in trialability of an innovation is positively related to its success.

The task facing the marketing manager is to identify variables that describe customers in terms of their inherent characteristics,called descriptors,and to link those variables to customer behavior toward the product or service.

According to the needs hierarchy theory,________ needs are based on job security and financial security.

According to the VALS system developed by SRI International,________ are poor,ill-educated,low-skilled,and elderly,with concerns about their security and safety.

A segmentation approach to the market is more efficient than a mass marketing approach because:

For frequently purchased products,scanner panel data provide information about:

Which of the following stages of the family life cycle best describes older married couples with dependent children?

Which of the following best describes a major source of secondary information on market segments?

For many products and services,the value of owning them increases as the number of owners increases.This is the concept of:

Which of the following best describes conservative,conventional people whose beliefs revolve around family,church,community,and their country?

According to the VALS system developed by SRI International,________ are mature,satisfied comfortable people who value order,knowledge and responsibility.

Which of the following is one of the three sets of options that result from using internal and external information sources when seeking purchase alternatives?

While evaluating options in a consideration set,the marketing manager must determine the set of attributes customers use in making purchase decisions.Which of the following methods is not recommended because of the bias introduced?

________ is the concept that a customer will adopt an innovation only if he or she considers it to be an improvement over the current product being used to satisfy the same need.

The ________ model is any model in which a low score on one attribute can be offset by a higher score on another.

Which of the following is an example of an internal source of information?

List and briefly describe the three different sets of options formed by customers in the search for alternatives through internal and external information sources.