Quiz one
What are the basic types of consumers (two), and how are they distinguished (i.e., motive
underlying the transaction)?
a. Personal consumers: buy goods and services for this or her own use.
b. Organizational consumers: includes profit and not for profit businesses
government agencies. Must buy products in order to run their organizations.
Consumer value is a ratio between the customer’s perceived benefits and the resources
Intrinsic and extrinsic cues (e.g., as they relate to perceptions of product quality). Also,
Donald Cox’s ideas about the predictive and confidence values of cues as it relates to
consumer decision-making.
• Consumer’s perceived quality of a product is based on a variety of informational cues
that associate with the product.
• Cues that are intrinsic concern physical characteristics of the product itself such as size,
color, flavor, or aroma.
• Extrinsic characteristics is what consumers more often than not base their decisions on.
An example is the brand of the product.
