Consumer Behavior includes the actions a person takes in purchasing services and using products and services including?
the mental and social processes that come before and after these actions.
The set of actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions, is referred to as?
purchase decisions
There are 5 stages in the consumer purchase decision process. The second stage is?
information speech
During the consumer purchase decision process an individual at what stage will perceive differences between his or her ideal and actual situations big enough to trigger a decision?
alternative evaluation
When the marketing student said, "It's really hard for me to get to class on time without a car," she was entering which stage of the consumer purchase decision process?
problem recognition
Which stage in the consumer purchase decision process suggests criteria to use for the purchase, yields brand names that might meet the criteria, and develops consumer value perceptions?
information search
When is an external search for product information is especially important ?
the cost of gathering information is low
When past experience is insufficient, the risk of making a wrong decision is high, and the cost of gathering information is low, a consumer is more likely to use what for information?
external search
An example of a public source of information consulted during an external search would include?
product-rating organizations
There are various nonprofit publications dedicated to assisting in consumer education and decision making. What is an example?
government agencies
An example of a marketer-dominated source of information consulted during an external search would include?
sales people
The information search stage clarifies the problem for the consumer by: 1. suggesting criteria to use for the purchase; 2. ?; and 3. developing consumer value perceptions.
selecting the type of purchase outlet
Firms such as GE, Johnson & Johnson, Coca-Cola, and British Airways focus their attention on what to maximize customer satisfaction an retention?
post purchase behavior
Customer satisfaction is an important focus for marketers because?
the financial value of a satisfied, loyal customer over time can be significant.
High-involvement purchases typically have which of the following sets of characteristics?
the item is inexpensive, can have serious personal consequences, or could reflect on one's social image.
Which problem solving variation would normally be used to purchase items such as cereal or laundry detergent?
routine problem solving
Which is not of the 5 situational influences that can have an impact on a consumer's purchase decision process?
consumer socialization
Organizational buyers include manufacturers, wholesalers, retailers, and government agencies that?
buy goods and services for their own use or resale
What organizational buyer purchases raw materials and parts to reprocess into the finished goods they sell?
manufacturers
What statement regarding organizational buyers is most accurate?
Wholesalers and retailers resell the goods they buy without reprocessing them.
What is not an organizational buyer?
ultimate consumers
What firm comprises an industrial market?
mining
What comprises the highest percentage of firms in industrial markets?
service companies
Organizational buyers can be divided into 3 different markets, which are?
industrial
reseller
government markets
Which is a service business within the industrial market?
finance
International trade statistics indicate the largest exporting industries in the U.S. focus on what?
organizational buyers
The NAICS system designates industries with a numerical code in a defined structure. A six-digit code. The first two digits designate what?
sector of the economy
The NAICS system designates industries with a numerical code in a defined structure. A six-digit code. The fourth digit designates what?
industry group
A disadvantage of the NAICS system is what?
five-digit national industry codes are not always available for all three countries.
Which statement about organizational buying compared to consumer buying is most accurate?
derived demand is more important in consumer buying
In the organizational buying process, important product or service characteristics include multiple buying influences, a predominance of raw and semifinished goods, and what?
buyer incentives, technical assistance, and exclusive contracts.
Important buying process characteristics in organizational buying behavior include what?
there are often reciprocal arrangements and negotiations between buyers and sellers
Firms selling consumer goods or services often try to reach thousands or millions of individuals or households. Firms selling to organizations do what?
try to reach tens of millions of wholesalers, retailers, and government units.
Why has Dell, Inc. embarked on a global growth initiative?
emerging economies offer significant growth potential.
Which statement about the dynamics of world trade is most accurate?
The U.S., Western Europe, Canada, China, and Japan together account for more than two-thirds of world trade in manufactured goods and commodities.
What country is the world's leading exporter?
China
Foreign countries with very low per capita incomes may, nonetheless, be attractive markets for expensive goods. To get a more accurate picture of a country's purchasing power, a country must consider what?
income distribution
When a U.S. airplane manufacturer sells its airplanes to business executives in Germany without using intermediaries. What is it referred to?
direct exporting
When one country assembles a product for another country, what is that called?
contract assembly
Both Honda and Toyota have plants in the U.S. that use American labor. What are the companies exhibiting?
joint venture
Companies selling the same product in other countries is what?
product extension
KFC in Japan altered the sweetness of its coleslaw to appeal to Japanese tastes. This is an example of which type of global product strategy?
product adaption
Eastman Kodak accused Japanese rival Fuji Photo Film of selling photographic paper in the U.S. for 25% below what it charges in Japan. In other words, Eastman Kodak accused Fuji of what?
dumping
Aggregating prospective buyers into group that have common needs and will respond similarly to a marketing action is referred to as what?
market segmentation
Market segmentation refers to what?
aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.
Which statement regarding market segmentation is most accurate?
if a business firm goes to the trouble and expense of segmenting its markets, it expects to increase its sales, profits, and return on investment.
In marketing each what consists of people who are relatively similar to each other in terms of their consumption behavior?
market segment
Product differentiation refers to what?
a marketing strategy that involves a firm using different marketing mix activities to help consumers perceive the product as being different and better than competing products.
When P&G introduced Crest toothpaste, it was intended for use by children and was therefore given a child-appealing bubblegum flavor. Sometime later, the same basic formula was given a fresh, minty flavor to appeal to adults. What marketing strategy did P
product differentiation
When a company virtually sells the same product in other countries, what type of international product strategy are they using?
product extension