Deck 11: Marketing Processes and Consumer Behavior

Question 1

The benefits of a high-value product are much greater than its costs.

Answer 1

True

Question 2

Competition from foreign manufacturers is an element of the social and cultural environment.

Answer 2

False

Question 3

High prices generally lead to larger sales volumes.

Answer 3

False

Question 4

Low prices generally lead to _____.

A) higher costs
B) lower costs
C) larger sales volumes
D) lower sales volumes

Question 5

The benefits of a(n) _____ product are much greater than its costs.

A) utility
B) high-value
C) essential
D) premium

Question 6

Coca-Cola executives would be able to borrow $100 billion from a bank just on the strength of Coca-Cola's _____.

A) assets
B) managerial strength
C) supply of bottles and cans
D) brand name

Question 7

The popularity of various models of cars, for example, is based partly on successful _____.

A) aggregation
B) product differentiation
C) substitutions
D) production costs

Question 8

Which statement is true?

A) Target marketing requires market segmentation.
B) Production positioning includes the process of fixing, adapting, and communicating the nature of the product.
C) After identifying segments, companies may adopt a variety of strategies.
D) All of these statements are true.

Question 9

Which statement about consumer buying behavior is true?

A) Buyer-seller relationships tend to be more impersonal and short-lived in the industrial market.
B) Buyers in the consumer market are considered as well-informed as industrial buyers.
C) The buying process begins when consumers seek information.
D) None of these statements is true.

Question 10

What is value? What is a high-value product?

Question 11

Define marketing.

Question 12

How does a feature differ from a benefit?

Question 13

According to the model described in the text, what are the steps involved in the consumer buying process?

Question 14

Understanding the proper use of verbal language, body language, and color, for example, involves what part of the marketing environment?

Question 15

In Germany, one would never give another an even number of roses. Why?

Question 16

With what emotion is a yellow roses associated in Germany?

Question 17

In Japan, what number is considered to be bad luck?

Question 18

What coerced Reed Hastings into the idea for Netflix.com?

Question 19

Are industry trends working in favor of Netflix.com? Explain.

Question 20

Netflix.com has been able to improve what area(s) of the marketing mix the most?

Question 21

Explain the value package offered by Netflix.com.