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Exam 1: Consumer Behavior: Information-Driven Consumer Behavior

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Question 41

Multiple Choice

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The ________ concept in business assumes that consumers are mostly interested in product availability at low prices.

A) marketing
B) societal
C) product
D) production
E) technology

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Question 42

Multiple Choice

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The selling concept focuses on the needs of the ________ and on existing products, while the marketing concept focuses on the needs of the ________.

A) manufacturer; seller
B) buyer; manufacturer
C) seller; buyer
D) seller; manufacturer
E) buyer; seller

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Question 43

Multiple Choice

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Kevin's company owns a factory that can produce 1,000 widgets per week. His primary focus is on getting consumers to purchase as many widgets as possible to ensure that he is maximizing his sales relative to his production capacity. Kevin's business is exhibiting the ________.

Which of the following determinants of customer satisfaction with online websites and merchants while shopping online is characterized by the merchant's ability to match purchase recommendations to one's needs and customize products and advertisements so the customer feels unique and valued?

In the consumer decision-making process, the ________ stage focuses on how consumers make decisions.

The primary objective of providing value to customers continuously and more effectively than the competition is ________.

Companies that focus on understanding customers are able to continue to grow and remain leaders in their industries in spite of increased competition and changing business environments.

Marketing-oriented companies try to persuade consumers to buy what the firm has already produced, regardless of whether those goods satisfy consumers' needs.

$\text{RYAN'S RUNNERS MINI CASE}$ : Ryan wants to open a store that caters to athletes, but, due to space and budgetary constraints, he recognizes that he will not be able to offer the same variety and selection of products as does the local athletic mega-store, so he has decided to focus specifically on runners. He stocks shoes and related gear for runners, and maintains a staff that is knowledgeable and enthusiastic about running. Ryan's advertising campaign emphasizes his store's high standard of customer service and selection of products specifically tailored to meet the needs of the runner. -In the RYAN'S RUNNERS MINI CASE, which of the following is most likely to represent the unique selling proposition at Ryan's Runners?

$\text{AIRLINE MINI CASE:}$ Transatlantic Airlines flies between popular destinations in the United States and western Europe, and claims to deliver "a first class experience for every passenger." All ticket purchases are made online, and users of the Transatlantic website must register before they search for flights. Transatlantic uses this information to determine which consumers are generating the most profits for the company, which services they purchase most frequently, and which services they are potentially interested in but are not purchasing. This information is then used to make specific promotional offers to profitable customers in an attempt to retain their business and to expand the range of flight services that they purchase. Transatlantic also uses this information to provide unexpected perks to highly profitable customers, like free upgrades to first class. -In the AIRLINE MINI CASE, when Transatlantic upgrades the seat assignment of especially loyal customers, the airline is attempting to increase ________.

Of the four Ps of the marketing mix, place includes ________.

The production concept makes sense for a business when ________.

The Physicians Committee for Responsible Medicine targeted Burger King in television commercials that blame it for heart disease.

Transatlantic Airlines identifies the most profitable customers and offers them specific incentives, a practice known as ________.

Customers have different expectations when they purchase a Lexus than when they purchase a Hyundai. These expectations affect ________.

The process of dividing a market into subsets of consumers with common needs or characteristics is known as ________.

The selling concept does not consider customer satisfaction because consumers who are aggressively induced to buy products they do not want or need will not buy them again.

Which of the following is NOT one of the benefits of retaining loyal customers?

$\text{CAR MINI CASE}$ : In the early 1900s, Henry Ford made a fortune manufacturing Model T cars and selling them cheaply, making the automobile affordable for a much larger proportion of the population than had previously been the case. He accomplished this by producing only one model of car and doing so cheaply and at high volumes through the utilization of assembly line manufacture. In 1923, General Motors decided to increase its market share in the automobile industry by offering, instead of just one model, as Ford did, a variety of affordable mass-produced models to meet the various differing needs of different types of consumers. -In the CAR MINI CASE, by offering a variety of cars to choose from, General Motors was able to differentiate itself from Ford by demonstrating to consumers that it could offer ________.

Imagine you are training a marketing intern on how your company, which markets athletic footwear, uses market segmentation, target marketing and positioning. Explain what each is and provide an example.