University of Texas, El Paso MKT MISC Chapter 10 1)Many factors affect a purchase

Question

University of Texas, El Paso

MKT MISC

Chapter 10

1)Many factors affect a purchase. These include the consumer's

(for example, his mood, timepressure, or disposition toward shopping).

is an important resource that often determines how much effort and search will go in

In this chapter, the author created an excellent simile, comparing retailing and theatre: the "actors" are analogous to the "salespeople" and

the "stage props" would represent the .

Due to the ease and competitive pricing of shopping in online or , marketers are becoming increasingly aware that brick and mortar shopping experiences (in a physical store) need to be more effective than ever before.

Many factors at the time of purchase dramatically influence

the consumer's decision-making process. According to research discussed in this chapter, even the presence or absence of can affect aconsumer's decisions.

According to current research revealed in this chapter, a number

of factors, such as , determine store image and can be likened to a brand personality.

Research indicates that a store's layout provides strong influences on buyer behavior. In fact, we don't make many of our purchase decisions until we are actually in the store; therefore, are important sales tools.

According to market researchers, consumers worldwide make more than $2 trillion worth of purchases per year one-commerce sites, and analysts are predicting that more and more of these

transactions .

Jessie is grocery shopping and while standing in the check-out line she sees a product display of a giant plastic M&M holding many colorful packages of M&Ms. She did not have this item on her grocery list, but she immediately has an urge for M&Ms, so she reaches in to add a few of the packages to her shopping cart. This is an example of .

Take a moment to think back on your last in-store purchase and what elements affected your buying decisions. Savvy marketers understand that the information provided by a store's layout, website, or salespeople will influence a purchase decision.

According to research, well-designed in-store displays can boost impulse purchases by as much as percent. This explains why U.S. companies spend approximately $19 billion each year on point-of- purchase (POP) stimuli.

The importance of POP in shopper decision making explains why product packages increasingly play a key role in the marketing mix as they evolve from the functional to the fantastic. Which of the following is not an example of POP?

In the rapidly growing sharing economy, people what they need rather than buy it.

A funny thing is happening when people buy products: they no longer want to buy them. Instead we're witnessing the rise of

the , or what is sometimes called .

All the following are examples of collaborative consumption except:

is (are) what primarily fuels the collaborative consumption revolution.

Rather than buying a canoe for their upcoming camping trip, Jessie and Luke went online to KanukaCanoes.com to rent one. This is an example of the increasing move of millennials toward using (a) rather than making a purchase.

Many people appreciate the intimacy of exchanging items with real people rather than getting them from big companies. That's one reason the notion of doing business with other consumers rather than with companies goes by the name .

Our decisions about how to a product are as important as how we decide to it in the first place.

Concern about the environment and waste make the issue of key in many product categories.

Rather than sending her old dishes to the local donation center, Jessie has decided to sell them on e-Bay. The term for this type of consumer behavior is .

Jessie organized a party to exchange clothing and other personal possessions with others in her neighborhood. This is an example

of .

During research for his marketing course, Chandler found that although traditional marketers don't pay much attention to used-product sellers, factors such as concern about the environment, demands

for quality, cost, and fashion consciousness make these secondary markets more important. In fact, economic estimates of the range from 3 to 30 percent of the gross national product of the United States and up to 70 percent of the gross domestic product of other countries.

Luke exchanged his bike for Roy's skateboard. This is an example of .

When Luke was completing a survey that asked if he was satisfied with his new PlayStation, his mind instantly thought back on all the hours he and his twin brother had enjoyed on PlayStations over the years and answered that he was satisfied. In reality, he was basing that answer on his prior experiences with PlayStation rather than direct feelings about the new PlayStation he recently purchased. Market researchers studying post- purchase satisfaction would use the term to describe this consumer behavior.