Ch6 Analyzing Consumer Markets

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TOP 10 Learning Questions for

Chapter 6Analyzing Consumer

Markets

Grace Sumera24 September 2010


1. ____ factors exert the broadest and deepest influence on consumer behavior.

A. EconomicB. PersonalC. CulturalD. SocialE. Demographic

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Factors Affecting Consumer Behavior

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BuyerBuyer

Psychological

PersonalSocialCulture


Factors Affecting Consumer Behavior

A consumer’s buying behaviour is influenced by cultural, social, and personal factors.

Cultural factors exert the broadest and deepest influence.

Culture is the fundamental determinant of a person’s wants and behaviour.

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1. ____ factors exert the broadest and deepest influence on consumer behavior.

A. EconomicB. PersonalC. CulturalD. SocialE. Demographic

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2. ___ is a key psychological process that has both direction and intensity.

A. MotivationB. PerceptionC. LearningD. MemoryE. Sensation

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Key Psychological Processes

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Motivation

Perception

Learning

Memory


Motivation

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4 key psychological processes – motivation, perception, learning, & memory – fundamentally influence consumer responses.

Motivation has both direction – we select one goal over another – & intensity – the vigor with which we pursue the goal.


2. ___ is a key psychological process that has both direction and intensity.

A. MotivationB. PerceptionC. LearningD. MemoryE. Sensation

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3. The following are major information sources to which consumers turn to EXCEPT

A. ExperientialB. Commercial C. PublicD. ExternalE. Personal

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Major Information Sources

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Personal

Commercial

Public

Experiential


Major Information Sources

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• Family, friends, neighbors•Most influential source of information

Personal Sources

• Advertising, Sales people• Most prevalent source of information

Commercial Sources

• Mass media• Consumer rating groups

Public Sources

•Handling, examining & using the product or service

Experiential Sources


3. The following are major information sources to which consumers turn to EXCEPT

A. ExperientialB. Commercial C. PublicD. ExternalE. Personal

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4. Buyer’s decisions are influenced by personal characteristics EXCEPT

A. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle

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AgeSelf-

concept

Lifestyle

Values

Personality

Wealth

Occupation

Life cycle stage

Personal Factors

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Nationality is a Cultural Factor!

Nationalities

Religions

Racial groups

Geographic regions

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SUBCULTURES


4. Buyer’s decisions are influenced by personal characteristics EXCEPT

A. NationalityB. Age & Stage in the Life CycleC. Occupation & Economic CircumstancesD. PersonalityE. Lifestyle

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5. Which of the following is true?

A. Groups having either face-to-face or indirect influence to consumer behavior are called membership groups.

B. People are influenced by groups to which they do not belong.

C. Reference groups are groups having direct influence on consumer behavior.

D. Dissociative groups do not influence consumer behavior.

E. Friends are considered secondary groups while family is a primary group.

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Social FactorsFamily

Social Roles

Statuses

Social Factors

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Membership groups

Primary groups

Secondary groups

Aspirational groups

Dissociative groups

Reference Groups


Social Factors

Social factors such as reference groups affect consumer behaviour.

Reference groups have either direct (face-to-face) or indirect influence.

Groups having direct influence are called membership groups.

Primary groups are groups with whom a person interacts fairly continuously and informally, such as family & friends.

People are also influenced by groups to which they do not belong, such as aspirational & dissociative groups.

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5. Which of the following is true?

A. Groups having either face-to-face or indirect influence to consumer behavior are called membership groups.

B. People are influenced by groups to which they do not belong.

C. Reference groups are groups having direct influence on consumer behavior.

D. Dissociative groups do not influence consumer behavior.

E. Friends are considered secondary groups while family is a primary group.

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6. Which of the following statements is false?

A. The buying decision process is a five-stage model.

B. The model starts with problem recognition & ends with the purchase decision.

C. The buying process starts long before the actual purchase.

D. Consumers don’t always pass through all 5 stages in buying a product.

E. The attitude of others & unanticipated situations may intervene with the purchase decision.

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Consumer Buying ProcessProblem Recognition

Evaluation

Purchase Decision

Post-purchase Behavior

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Consumer Buying Process

The Buying Process does not end with the purchase. Marketers monitor the buyer’s feelings or behavior towards the product or service after the purchase.

Marketers are concerned about post-purchase satisfaction, actions (repurchase or abandonment), & disposal (rent, lend, or store).

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6. Which of the following statements is false?

A. The buying decision process is a five-stage model.

B. The model starts with problem recognition & ends with the purchase decision.

C. The buying process starts long before the actual purchase.

D. Consumers don’t always pass through all 5 stages in buying a product.

E. The attitude of others & unanticipated situations may intervene with the purchase decision.

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7. MTV appears to have a brand personality of

A. CompetenceB. ExcitementC. RuggednessD. SincerityE. Sophistication

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Brand Personalities

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Sincerity Excitement

Competence Sophistication

Brand Personality is the specific mix of human traits that we can attribute to a particular brand.


Brand Personalities

caters to the young generation who’s interested in the latest music, fashion, videos, concerts, events, movies, etc. It is a total expression of youth, individuality, and breaking conventions. It exudes a daring, spirited, imaginative, and up-to-date personality – Excitement.

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7. MTV suggests to having a brand personality of

A. CompetenceB. ExcitementC. RuggednessD. SecurityE. Sophistication

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8. Highly Price-sensitive people deciding to purchase the cheapest brand is an example of this purchase strategy

A. Conjunctive heuristicB. Elimination-by-aspects heuristicC. Lexicographic heuristicD. Availability heuristicE. Representative heuristic

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Purchase Decision

Heuristics are rules of thumb or mental shortcuts in the decision process.

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Conjunctive Heuristic

Lexicographic Heuristic

Elimination-by-aspects Heuristic


Heuristics

Conjunctive heuristic – consumer chooses the 1st alternative that meets the minimum standard for all attributes.

Lexicographic heuristic – consumer chooses the best brand on the basis of its perceived most important attribute.

Elimination-by-aspects heuristic – consumer compares brands & eliminates brands that do not meet minimum acceptable cut-offs.

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8. Highly Price-sensitive people deciding to purchase the cheapest brand is an example of

A. Conjunctive heuristicB. Elimination-by-aspects heuristicC. Lexicographic heuristicD. Availability heuristicE. Representative heuristic

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9. A Filipina who recently postponed her trip to HK was influenced by this type of risk

A. Psychological Risk B. Physical RiskC. Financial RiskD. Social RiskE. All of the above

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Perceived Risks

Functional

Physical

FinancialSocial

Psychologic

al

Time

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A consumer’s decision to modify, postpone, or avoid a purchase is heavily influenced by perceived risks.


Perceived Risks

Due to the recent hostage incident, Filipinos may cancel their trip to HK because of perceived risks:

1. Functional Risk – the product may not perform up to expectations

2. Physical Risk – the product poses a threat to the physical well-being of the user/others

3. Financial Risk – the product is not worth the price paid4. Social Risk – the product results in embarrassment from

others5. Psychological Risk – the product affects the mental

well-being of the user6. Time Risk – wasted time in finding a new product in

case of product failure

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9. A Filipina who recently postponed her trip to HK was influenced by this type of risk

A. Psychological Risk B. Physical RiskC. Financial RiskD. Social RiskE. All of the above

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10. Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restaurant display an example of this customer profiling method

A. Prospective Method B. Prescriptive MethodC. Retrospective MethodD. Introspective MethodE. Scientific Method

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Profiling the Customer Buying-Decision Process

Marketers learn about the stages in the buying process for their product through:

Introspective Method Retrospective Method Prospective Method Prescriptive Method

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Profiling the Customer Buying-Decision Process

Interviewing a small number of recent purchasers, asking them to recall the events leading to their purchase is the retrospective method.

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10. Marketers who learn about the buying process for their service by conducting surveys on recent diners in their restaurant display an example of this customer profiling method

A. Prospective Method B. Prescriptive MethodC. Retrospective MethodD. Introspective MethodE. Scientific Method

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TOP 10 Learning Questions for

Analyzing Consumer Markets

Chapter 6

Grace Sumera24 September 2010

Ch6 Analyzing Consumer Markets

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