Chapter 01 Consumer Behavior and Marketing Strategy Answer Key
Multiple Choice Questions
1.
The rise of social media has
2.
_____ is the study of individuals, groups, or organizations and the processes they use to select, secure,
use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these
processes have on the consumer and society.
3.
One primary function of Harriet’s job is to study individuals, groups, or organizations and the processes
they use to select, secure, use, and dispose of her company’s products and services to satisfy needs and
the impacts that these processes have on the consumer and society. Harriet works in the field of _____.
4.
Which of the following is NOT true regarding consumer behavior?
5.
Which of the following is a key aspect regarding consumer behavior?
6.
Which of the following is NOT an application of consumer behavior?
7.
Thomas wants to gain a usable understanding of consumer behavior in order to help him become a more
effective marketing manager. Which application of consumer behavior does this represent?
8.
_____ is the application of marketing strategies and tactics to alter or create behaviors that have a
positive effect on the targeted individuals or society as a whole.
9.
Mia is concerned how her marketing activities will affect individual consumers as well as society at
large. Mia is implementing _____.
10.
Most economically developed societies are legitimately referred to as _____ societies.
11.
Which of the following is used by firms to influence consumers?
12.
To survive in a competitive environment, an organization must provide its target customers more _____
than is provided to them by its competition.
13.
The difference between all the benefits derived from a total product and all the costs of acquiring those
benefits is known as _____.
14.
Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special
party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made
her feel beautiful and confident. The difference between the benefits Laurie perceived from this
purchase and the cost to her to acquire these benefits describes her _____.
15.
It is critical that a firm consider value from which perspective?
16.
How can an organization provide superior customer value to customers?
17.
Marketing strategy begins with _____.
18.
Harold is tasked with developing the marketing strategy for his family’s business. What should he do
first?
19.
Marketing strategy is formulated in terms of the marketing mix; that is, it involves determining the
product, features, price, communications, distribution, and services that will provide customers with
superior value. This entire set of characteristics is often referred to as the _____.
20.
Disney World in Orlando, FL, has several theme parks, resorts, restaurants, and stores. Each is
intentionally created to offer a memorable event for visitors. For example, the Wilderness Lodge is a
large resort hotel on the grounds, and everything within it is made to look like log cabins and pioneer
days. Even the casual restaurant has the wait staff dressed in pioneer costumes, and they put on funny
little skits when they are waiting on customers. Which of the following best describes what Disney is
selling?
21.
A shopper who cares about brand-name merchandise and convenience is known as a ________
shopper.
22.
Which of the following is a component of a market analysis?
23.
Darren is conducting a market analysis for his business, and he has asked your advice on what he should
be analyzing. Which of the following should he consider at this step of marketing strategy
development?
24.
Jamie is developing a thorough understanding of his company’s own capabilities; the capabilities of
current and future competitors; the consumption process of potential customers; and the economic,
physical, and technological environment in which these elements interact. Which step in the marketing
strategy process is Jamie performing?
25.
Which of the following aspects is evaluated when determining a firm’s ability to meet customer needs?
26.
Which of the following is NOT evaluated when analyzing a company’s own ability to meet customer
needs?
27.
As part of developing your company’s marketing strategy, you are tasked with analyzing the new-
product capabilities, channel strength, advertising abilities, service capabilities, marketing research
abilities, and market and consumer knowledge. Which aspect of your company’s capabilities are you
assessing?
28.
A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n)
_____.
29.
Smaller women like to purchase fashionable clothes just as much as any women. However, most clothes
are not proportioned for their smaller size and do not fit well. As a result, several manufacturers offer
“petite” sizes of clothing for this group of consumers. Women who comprise this group have needs that
differ somewhat from the total market and represent a _____.
30.
Tracking consumers’ online activity and delivering specific banner ads based on that activity is known
as _____.
31.
Tacoda Systems tracks consumers’ online activity and delivers specific banners based on that activity.
This tracking and ad delivery system has been installed on almost 3,000 websites, and advertisers pay
on a pay-for-performance basis, which means that advertisers pay Tacoda Systems only when a
consumer clicks on their ad. The tracking of online activity and delivery of ads based on that activity is
called _____.
32.
What is the first step in market segmentation?
33.
What is the LAST step in market segmentation?
34.
Which of the following is NOT a step in market segmentation?
35.
Carlos is attempting to segment the market for his company’s products. Where should he begin?
36.
Which term reflects the fact that most products in developed economies satisfy more than one need?
37.
Barry is looking for a car that is dependable yet stylish enough to let others know that he has achieved a
respectable status in his life and career. He also wants it to be a high-performance automobile.
Dependability, status, and performance represent Barry‘s _____.
38.
Which of the following is used to describe a group of consumers with similar needs sets?
39.
Talbot’s is a women’s clothing store that offers classic fashions at a slightly premium price (i.e., a wool
skirt typically costs more than $100). During the process of market segmentation, Talbot’s identified a
group of consumers who are larger than average women yet still want stylish clothing. Further research
into this segment revealed that these women tend to be between the ages of 35 and 50, are career–
oriented, have a household income over $50,000, and are married with children under the age of 18
living at home. This women in this group are also heavy users of magazines and newspapers as well as
prime-time television. Which step of market segmentation does this describe?
40.
The segment(s) within the larger market on which an organization will focus its marketing effort is
referred to as the _____.
41.
J&J Produce is a distributor of fresh produce. It conducted a thorough analysis of its market and
identified groups of consumers that had similar product–related needs. One particular market identified
wanted fresh and unique produce, such as Swiss chard, radicchio, and exotic fruits, and they were
willing to pay higher prices for these choices. J&J Produce decided to focus its marketing effort on this
segment of the total market. This segment is J&J‘s _____.
42.
Which of the following is used to evaluate the attractiveness of various market segments?
43.
Juan has segmented the market for boats and is currently analyzing each with respect to several factors,
such as size, growth rate, competitor strength, fit with company image, distribution available, cost to
serve, and risk before deciding which segment to target. Which step of market segmentation is Juan
conducting?
44.
The product, price, communications, distribution, and services provided to the target market is referred
to as the _____.
45.
Which of the following is part of the marketing mix?
46.
A(n) _____ is anything a consumer acquires or might acquire to meet a perceived need.
47.
To be successful, a product must _____.
48.
_____ include(s) advertising, the sales force, public relations, packaging, and any other signal that the
firm provides about itself and its products.
49.
Which of the following is included in marketing communications?