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Ohio University, Athens MKT 3020 CHAPTER 1 1)The basic consumption process begins with the consumer recognizing that s/he wants something new

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Ohio University, Athens

MKT 3020

CHAPTER 1

1)The basic consumption process begins with the consumer recognizing that s/he wants something new.

 

2.            Consumer behavior is the set of value-seeking activities that take place as people go about addressing realized needs.

 

3.            Kim Matthews, a retired school teacher, recently relocated to her old neighborhood. She called the trash collection company of her new neighborhood to enter her address but was dismayed to learn that they charged an extra $10 to the other companies in the areas. She complained to the company manager but was told that she had to either pay the bill or dispose the trash on her own. Kim had no other option but to pay the bill. Which of the following is the most likely reason why Kim was treated so poorly by the company?

a.            The trash company was not dependent on her repeat business

b.            The trash company served only the higher-income households

c.             The trash company had no other competitors providing this service

d.            The trash company’s customer service was poorly trained

 

4.            Which of the following is TRUE of the stakeholder marketing orientation?

a.            It stresses solely on the need to monitor and understand competitor actions in the marketplace and the need to communicate info about competitors throughout the org

b.            Firms with this type of orientation recognize that more than just the buyer and the seller are involved in the marketing process

c.             It is an organizational culture that embodies the importance of creating value for customers among all employees

d.            It is a way of doing business in which the actions and decision making of the institution prioritize consumer value and satisfaction above all other concerns

 

5.                           refer to direct contacts between the firm and a customer.

a.            Exchanges

b.            Intersections

c.             Target Segments

d.            Counterpoints

e.            Touchpoints

 

6.            A product is defined as  .

a.            The attributes of an item a customer buys

b.            A potentially valuable bundle of benefits

c.             The cost associated with buying the physical parts of a product

 

d.            The resource allocated toward satisfying a felt need

e.            The physical effort required in the purchase

 

7.            Lane Bryant is a women’s clothing store specializing in stylish clothing and flattering fits for plus-size women. Which business orientation best describes Lane Bryant’s approach?

a.            Differentiated Marketing

b.            Niche Marketing

c.             Ambush Marketing

d.            Mass Marketing

e.            Undifferentiated Marketing

 

8.            Which of the following is TRUE about the difference between qualitative and quantitative research?

a.            Quantitative research gathers data in an unstructured way, while qualitative gathers in a structured way

b.            Qualitative research data results are subjective, while quantitative research data results are objective

c.             Quantitative research requires deep interpretation, but qualitative research does not

d.            Qualitative research better enables researchers to test hypothesis as compared to quantitative

e.            Quantitative research data is unstructured and ambiguous, while qualitative research exemplifies scientific and objective research

 

9.            Berne Retail plans to introduce new private-label brands for beverages. The marketing team will undertake a survey to obtain feedback on these brands through a test marketing exercise. The data collected in this research study will be collated in terms of frequencies and subjected to statistical analysis to determine the brands that earned the most. The best-performing new brands will be then chosen for a full-scale rollout. This scenario illustrates an instance of               .

a.            Quantitative Research

b.            Grounded Theory Research

c.             Qualitative Research

d.            Archival Research

10.          Which of the following is an economic trend shaping consumers today?

a.            Online shopping

b.            Widespread use of Facebook

c.             Decrease in discretionary income worldwide

d.            Internalization

e.            Decrease in family size. f.