(Test Bank) Consumer Behavior Building Marketing Strategy

Mothersbaugh,Hawkins, 14

Business

Test Bank

14th Edition

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Test Bank for Consumer Behavior Building Marketing Strategy, The downloadable file consists of 854 pages, and the total size of the file is 4.5 MB. Purchase now only for highly discounted price.

Author(s): Mothersbaugh, Hawkins

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Study Note Preview

1-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 01 Multiple Choice Questions 1. The rise of social media has A. shifted power from marketers to consumers. B. helped to strengthen the shift of power from consumers to marketers. C. helped give rise to the development of online crowd seeking. D. helped marketers like CVS listen and adapt to consumers in real time. E. shifted power from marketers to consumers and helped marketers like CVS listen and adapt to consumers in real time. Answer: E Explanation: Social media is a tool that gives consumers power but also allows firms to listen and react in real time via online monitoring of social media trends. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Gradable: automatic Learning Objective: 01 -01 Define consumer behavior. Topic: Consumer Behavior and Marketing Strategy 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. A. Marketing B. Consumer behavior C. Psychographics D. Demographics E. Psychology Answer: B Explanation: This view of consumer behavior is broader than the traditional one, which focused more narrowly on the buyer and the purchasing process. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Gradable: automatic Learning Objective: 01 -01 Define consumer behavior. Topic: Consumer Behavior and Marketing Strategy (Consumer Behavior Building Marketing Strategy 14e David Mothersbaugh, Delbert Hawkins ) (Test Bank all Chapters)2-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 3. One primary function of Harriet's job is to study individuals, groups, or organizations and the processes they use to select, secure, us e, 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 __________. A. social psychology B. cognitive psychology C. management D. consumer behavior E. organizational behavior Answer: D Explanation: Consumer behavior 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. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Easy Gradable: automatic Learning Objective: 01 -01 Define consumer behavior. Topic: Consumer Behavior and Marketing Strategy 4. Which of the following is not true regarding consumer behavior? A. Organizations are applying theories and information about consumer behavior on a daily basis. B. It is often necessary to conduct res earch. C. Consumer behavior is a complex, multidimensional process. D. The overall model of consumer behavior presented in the text is accurate in predicting consumer behavior. E. Marketing practices designed to influence consumer behavior involve ethical issues that affect the firm, the individual, and society. Answer: D Explanation: Sufficient knowledge of consumer behavior exists to provide usable guidelines, but accurate monitoring and practice are required. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Gradable: automatic Learning Objective: 01 -01 Define consumer behavior. Topic: Consumer Behavior and Marketing Strategy 3-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 5. Which of the following is a key aspect regarding consumer be havior? A. Organizations are applying theories and information about consumer behavior on a daily basis. B. It is often necessary to conduct research. C. Consumer behavior is a complex, multidimensional process. D. Marketing practices designed to influen ce consumer behavior involve ethical issues that affect the firm, the individual, and society. E. All of these choices are correct. Answer: E Explanation: Sufficient knowledge of consumer behavior exists to provide usable guidelines, but accurate moni toring and practice are required. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Gradable: automatic Learning Objective: 01 -01 Define consumer behavior. Topic: Consumer Behavior and Marketing Strategy 6. Which of the following is not an application of consumer behavior? A. marketing strategy B. human resource management C. regulatory policy D. informed consumers E. social marketing Answer: B Explanation: Human resource management is not an application of consumer behavior. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -02 Summarize the applications of consumer behavior. Topic: Applications of Co nsumer 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? A. marketing strategy B. regulatory policy C. social marketing D. informed consumers E. resource management Answer: A Explanation: An accurate understanding of consumer behavior can greatly reduce the odds of failures. 4-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Unde rstand Difficulty: Moderate Gradable: automatic Learning Objective: 01 -02 Summarize the applications of consumer behavior. Topic: Marketing Strategy 8. __________ is the application of marketing strategies and tactics to alter or create behaviors that ha ve a positive effect on the targeted individuals or society as a whole. A. Social marketing B. Consumer behavior C. Regulation D. Proactive marketing E. Ethical marketing Answer: A Explanation: Social marketing has been used in attempts to reduce smoking, to encourage environmentally sound behaviors such as recycling, and to support many other important causes. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning O bjective: 01 -02 Summarize the applications of consumer behavior. Topic: Social Marketing 9. Mia is concerned how her marketing activities will affect individual consumers as well as society at large. Mia is implementing A. conscientious marketing. B. regulated marketing. C. ethical marketing. D. proactive marketing. E. social marketing. Answer: E Explanation: Social marketing 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. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Gradable: automatic Learning Objective: 01 -02 Summarize the applications of consumer behavior. Topic: Social Marketing 5-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 10. Most economically developed societies are legitimately referred to as __________ societies. A. marketing B. proactive C. consumption D. competitive E. enhanced Answer: C Explanation: Most individuals in these societies spend more time engaged in consumption than in any other activity. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -02 Summarize the applications of consumer behavior . Topic: Informed Individuals 11. Which of the following is used by firms to influence consumers? A. ads B. packages C. store environments D. sales pitches E. All of the choices are correct. Answer: E Explanation: Marketers spend billions to influence consumer decisions. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Gradable: automatic Learning Objective: 01 -02 Summarize the applications of consumer behavior. Topic: Informed Individuals 12. To survive in a competitive environment, an organization must provide its target customers more __________ than is provided to them by its competition. A. product B. service C. value D. feedback E. attention Answer: C Explanation: Customer value is the difference between all the benefits derived from a total product and all the costs of acquiring those benefits. 6-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Obj ective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 13. The difference between all the benefits derived from a total product and all the costs of acquiring those benefits is known as A. price. B. position. C. consumer behavior. D. customer value. E. equity. Answer: D Explanation: To survive in a competitive environment, an organization must provide its target customers more value than is provided to them by its competition. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strat egy and Consumer Behavior 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 beauti ful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her A. consumer behavior. B. customer value. C. motivation. D. equity difference. E. perceptual field. Answer: B Explanation: Customer value is the difference between all the benefits derived from a total product and all the costs of acquiring those benefits. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 7-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 15. It is critical that a firm consider value from which perspective? A. the competition's B. the firm's C. the customer's D. the government's E. the industry's Answer: C Explanation: Marketing strategy seeks to provide the customer with more value than the competition while still producing profit for the firm. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Co nsumer Behavior 16. How can an organization provide superior customer value to customers? A. by conducting market research B. by offering their products at the lowest price C. by offering extended warranty coverage on products D. by doing a better job of anticipating and reacting to customer needs than the competition does E. by offering more variations of a product Answer: D Explanation: It is critical that a firm consider value from the customer's perspective. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 17. Marketing stra tegy begins with A. market segmentation. B. targeting. C. conducting an outcomes assessment. D. objective setting. E. conducting a market analysis. Answer: E Explanation: The organization identifies groups of individuals, households, or firms with s imilar needs. 8-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing St rategy and Consumer Behavior 18. Harold is tasked with developing the marketing strategy for his family's business. What should he do first? A. segment the market B. conduct a market analysis C. decide on which segments to target D. develop the marketi ng mix E. set objectives Answer: B Explanation: The organization identifies groups of individuals, households, or firms with similar needs. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 19. Marketing strategy is formulated in terms of the marketing mix; that is, it involve s 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 A. total product. B. customer value. C. offering. D. va lue proposition. E. total value. Answer: A Explanation: The total product is presented to the target market, which is consistently engaged in processing information and making decisions. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 9-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 20. Disney World in Orlando, FL has several the me 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 pionee r 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? A. a product B. a service C. a bundled product D. a bundled service E. an experience Answer: E Explanation: An experience occurs when a company intentionally creates a memorable event for customers. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Marketing Strategy and Consumer Behavior 21. A holiday shopper who cares about efficiency and stress reduction is known as a(n) __________ shopper. A. Black Friday B. Early Bird C. Last Minute D. Reluctant E. Steady Answer: B Explanation: An early bird shopper cares about efficiency and stress reduction. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Customers with Similar Need Sets 22. Which of the follo wing is a component of a market analysis? A. market segmentation B. objectives C. conditions D. price E. All of these choices are correct. Answer: C Explanation: The state of the economy, the physical environment, government regulations, and technol ogical developments affect consumer needs and expectations as well as company and competitor capabilities. 10-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Conditions 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? A. the company's own ability to meet customer needs B. competitors' capabilities and strategies C. consumers' needs D. conditions in the market E. All of these choices are correct. Answer: E Explanation: Market analysis requires a thorough understanding of the company's own ability to meet customer needs, competitors' capabilities and strategies, consumers' needs, and conditions in the market. AACSB: Analytical Thinking Accessibility: Keybo ard Navigation Blooms: Understand Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Analysis Components 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 t he marketing strategy process is Jamie performing? A. setting objectives B. segmenting the market C. conducting a market analysis D. assessing the outcomes E. targeting the market Answer: C Explanation: Market analysis requires a thorough understand ing of the company's own ability to meet customer needs, competitors' capabilities and strategies, consumers' needs, and conditions in the market. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Moderate Grada ble: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Analysis Components 11-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 25. Which of the following aspects is evaluated when determining a firm's ability to meet customer needs? A. financial condition B. general managerial skills C. production capabilities D. technological sophistication E. All of these choices are correct. Answer: E Explanation: Failure to fully understand strengths and weaknesses can cause serious problems. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Easy Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: The Company 26. Whic h of the following is not evaluated when analyzing a company's own ability to meet customer needs? A. competitors B. financial strengths C. general managerial skills D. production capabilities E. reputation Answer: A Explanation: When analyzing a company's own ability to meet customer needs, competitors are not considered. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consum er behavior can be used to develop marketing strategy. Topic: The Company 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? A. financial strength B. marketing skills C. general managerial skills D. production capabilities E. reputation Answer: B Explanation: Marketing skills include new -product capabilities, channel strength, advertising abilities, service capabilities, marketing research abilities, and market and consumer knowledge. 12-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keybo ard Navigation Blooms: Understand Difficulty: Easy Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: The Company 28. A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) A. market segment. B. niche. C. subgroup. D. ancillary market. E. secondary market. Answer: A Explanation: To be viable, a segment must be large enough to be served profitably. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Segmentation 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 com prise this group have needs that differ somewhat from the total market and represent a A. demographic segment. B. lifestyle segment. C. market potential. D. sub -market. E. market segment. Answer: E Explanation: A market segment is a portion of a lar ger market whose needs differ somewhat from the larger market. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to de velop marketing strategy. Topic: Market Segmentation 13-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 30. Tracking consumers' online activity and delivering specific banner ads based on that activity is known as A. clickstream. B. blogging. C. spam. D. behavioral targeting. E. electronic targeting. Answer: D Explanation: Behavioral targeting is an example of how technology is making individualized communication increasingly cost effective. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Grada ble: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Segmentation 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 del ivery of ads based on that activity is called A. click -throughs. B. behavioral targeting. C. spamming. D. blogging. E. cookie targeting. Answer: B Explanation: Tracking consumers' online activity and delivering specific banner ads based on that activity is known as behavioral targeting. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing stra tegy. Topic: Market Segmentation 32. What is the first step in market segmentation? A. describe each group B. group customers with similar needs sets C. identify product -related need sets D. select an attractive segment to serve E. set objectives for segmenting Answer: C Explanation: Most products in developed economies satisfy more than one need. 14-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Object ive: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Segmentation 33. What is the last step in market segmentation? A. describing each group B. selecting an attractive segment(s) to serve C. identifying prod uct-related need sets D. grouping customers with similar need sets E. deciding the segmenting scheme Answer: B Explanation: The last step in market segmentation is selecting an attractive segment(s) to serve. AACSB: Analytical Thinking Accessibility : Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Segmentation 34. Which of the following is not a step in market segmentation? A. set budget B. identify product -related need sets C. group customers with similar need sets D. describe each group E. select an attractive segment(s) to serve Answer: A Explanation: Setting a budget is not a step in market segmentation. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used t o develop marketing strategy. Topic: Market Segmentation 15-1 Copyright © 2019 McGraw -Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw -Hill Education. 35. Carlos is attempting to segment the market for his company's products. Where should he begin? A. set objectives B. identify product -related need sets C. group customers with similar need sets D. describe each group E. select an attractive segment(s) to serve Answer: B Explanation: The first step in market segmentation is identifying product -related need sets. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Understand Difficulty: Hard Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Market Segmentation 36. Which term reflects the fact that most products in developed economies satis fy more than one need? A. multiplicity B. duplicity C. need array D. need set E. value proposition Answer: D Explanation: Products can meet different needs beyond their basic function. AACSB: Analytical Thinking Accessibility: Keyboard Navigation Blooms: Remember Difficulty: Moderate Gradable: automatic Learning Objective: 01 -03 Explain how consumer behavior can be used to develop marketing strategy. Topic: Product -Related Need Sets 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 A. self -image. B. need set. C. alter ego. D. unarticulated needs. E. lifestyle. Answer: B Explanation: Products can meet different needs beyond their basic function.