Deck 6: Buying Process, Brands, and Product Development

Question 1

When a company has a legally registered word, symbol, or mark such as Big Mac, itʹs an example of

A)a trademark.
B)a generic brand.
C)a counterfeit.
D)a name brand.

Answer 1

A

Question 2

Marketers want to do all of the following EXCEPT

A)maximize financial debt.
B)maximize loyalty.
C)maximize consumer awareness.
D)maximize consumption.

Answer 2

A

Question 3

By U.S. Census definition, two or more persons related by birth, marriage, or adoption and residing together in a household is defined as

A)a non-traditional housing unit.
B)a non-family household.
C)a family.
D)a household.

Answer 3

C

Question 4

In the buying process, the step that follows selection is

A)distribution.
B)the actual purchase.
C)service.
D)search.

Question 5

When a professor carries a briefcase or a student carries a backpack, it is an example of

A)self-concept attachment.
B)interdependence.
C)nostalgic attachment.
D)love.

Question 6

On which of the following can useful information be most easily given?

A)credence goods
B)professional services
C)food products
D)experience goods
E)search goods

Question 7

Collections of people who influence consumersʹ decisions and behaviors are referred to as

A)a consumer savvy group.
B)a service group.
C)a helping group.
D)a reference group.

Question 8

Kelloggʹs Frosted Flakes commercials showing a middle aged woman ashamed to admit that her favorite childhood brand of cereal is for her, not for her children, is an example of

A)nostalgic attachment.
B)love.
C)interdependence.
D)self-concept attachment.

Question 9

Advertising, public relations, coupons, labels, packaging, and billboards are all types of

A)convenience packaging.
B)external searches.
C)marketing communications.
D)usefulness.

Question 10

Upon what is the SEI based?

A)income and occupation
B)occupation and gender
C)education level and income
D)education level and occupation

Question 11

When a companyʹs goal is to make their brand the most popular with the group they are trying to reach, the term is called

A)generic marketing.
B)target marketing.
C)active marketing.
D)product positioning.

Question 12

The marketing mix include

A)service.
B)product.
C)communications.
D)all of the above

Question 13

An innovation is something that is

A)new or different.
B)expensive and flashy.
C)sweet and sour.
D)clean and pure.

Question 14

The largest minority group in the United States is

A)African American.
B)Hispanic/Latino.
C)Asian American.
D)White/Caucasian.

Question 15

When a product is part of oneʹs daily routine, it is demonstrating the concept of

A)interdependence.
B)love.
C)self-concept attachment.
D)nostalgic attachment.

Question 16

The first step in the pre-purchase process is

A)the marketing strategy.
B)the marketing mix.
C)identifying the target market.
D)assessing needs.

Question 17

Which of the following is an example of a brand?

A)Coca-Cola
B)Wal-Mart
C)McDonaldʹs
D)all of the above

Question 18

A portion of a larger market whose needs differ somewhat from the larger market is a

A)market segment.
B)target market.
C)reference group.
D)secondary segment.

Question 19

Products go through four stages in their development. In the correct order, they are

A)growth; introduction; maturity; dormancy, decline, revitalization.
B)introduction; maturity; growth; dormancy, decline, revitalization.
C)introduction; growth; maturity; dormancy, decline, revitalization.
D)maturity; dormancy, decline, revitalization; introduction; growth.

Question 20

Approximately how large is the middle class?

A)25%
B)90%
C)70%
D)15%

Question 21

Test driving a car is an example of acquiring passive information.

Question 22

Which of the following best describes credence goods?

A)goods for which the consumer cannot get information before purchase
B)goods for which the consumer can get information, but only after purchase
C)goods for which the comparison can comparison shop effectively
D)goods for which the consumer can get information before purchase

Question 23

A consumer should seek additional information on a product whenever

A)additional search might uncover a lower price.
B)there is something which she or he doesnʹt know about the product.
C)the cost of the search is less than or equal to expected savings.
D)all of the above
E)none of the above

Question 24

Habit buying can be justified because it lowers information search costs for which of the following?

A)experience goods
B)Veblen goods
C)search goods
D)credence goods
E)None of the above; habit buying can never be justified.

Question 25

People often buy products not for what they do, but for what they mean.

Question 26

Convenience plays a large part in consumer decision making.

Question 27

An ongoing search is conducted to acquire information for possible later use.

Question 28

The consumer cost is also called the non-price cost.

Question 29

Consumer behavior refers to the buying behavior of consumers- the individuals, families, and households who buy goods and services for personal consumption.

Question 30

Distribution is any activity that is performed to enhance or sustain the primary product.

Question 31

Product characteristics include cost, availability, features, style, and perceived risk.

Question 32

An internal search occurs when consumers look at ads, read articles, go on the internet, or ask what others what they think about a product.

Question 33

The third step in the buyer process is alternative evaluation.

Question 34

The target market is the smallest, least likely group to purchase a product.

Question 35

An external search occurs when a consumer goes over in his mind what he knows about a product based on past searches or personal experience.

Question 36

External searches require activity such as reading marketing information or testing the product.

Question 37

The term need set is used to reflect the fact that most products satisfy only one need.

Question 38

Which of the following is an example of credence goods?

A)automobile
B)beer
C)prescription drug
D)washing machine

Question 39

A banner ad that pops up on a website is an example of passive information.

Question 40

The second step in the consumer buying process is searching for information.

Question 41

Cognitive dissonance is the psychological conflict from incongruous beliefs held at the same time that lead consumers to accentuate the benefits of the purchase made.

Question 42

Explain the difference among search, experience and credence goods. Give examples of each.

Question 43

A(n)defined by the U.S. Census Bureau consists of two or more persons related by birth, marriage, or adoption and residing together in a household.

Question 44

Discuss the concept of full price or consumer cost. List the components of full price. Take one example and discuss full price.

Question 45

Generic products that have no advertising are typically cheaper than name brands.

Question 46

The largest, most likely group to purchase a product is called the
market.

Question 47

Selection is the fourth step in the pre-buying process.

Question 48

In order, what are the four stages in the household life cycle? Briefly describe each stage.

Question 49

Explain how products are developed.

Question 50

Describe at least three product characteristics.

Question 51

The is the amount of money one pays to obtain the right to use a product.

Question 52

Stealing an original idea or product and selling it is called .

Question 53

A(n)search is conducted to acquire information for possible later use.

Question 54

Post-purchase behavior describes when a consumer decides whether his purchase was good or bad by comparing the expected performance internally and externally.

Question 55

A household is comprised of all persons who occupy a ʺhousing unit.ʺ