Question 1

An example of a subculture would be a person's geographic region.

Accepted Answer

The answer of An example of a subculture would be...

Question 2

Ford believes its cars to be of higher quality than General Motor's but thinks that consumers wrongly believe the opposite. Ford might employ a(n) ________ strategy to change buyers' perceptions of its competition.

Accepted Answer

Competitive depositioning involves making consumers view the competitor's products as inferior or less desirable, which is precisely what Ford needs to do to change buyers' perceptions of GM. Real repositioning involves changing the actual attributes of a product, psychological repositioning involves changing consumers' beliefs about what the product can do, biased repositioning is not a recognized strategy, and attribute repositioning involves changing the particular aspects of a product that consumers consider important.

Question 3

With the ________, predictions of usage are based on quickness and ease of use.

Accepted Answer

The answer of With the ________, predictions of usage are...

Question 4

A consumer is persuaded to buy a product by a message that requires little thought and is based on an association with a brand's positive consumption experiences from the past. In this situation, the consumer used a ________ to arrive at this purchase decision.

Accepted Answer

The description given in the question refers to the peripheral route of processing information, which involves making decisions based on superficial cues such as brand image or past experiences rather than in-depth analysis.

Question 5

Richard Petty and John Cacioppo's ________, an influential model of attitude formation and change, describes how consumers make evaluations in both low- and high-involvement circumstances.

Accepted Answer

The elaboration likelihood model, developed by Petty and Cacioppo, explains how consumers process and evaluate information in low- and high-involvement situations. It suggests that there are two routes to persuasion, the central route (high-involvement) and the peripheral route (low-involvement), and the outcome of persuasion depends on the individual's level of involvement and motivation to process the information.

Question 6

________ refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices.

Accepted Answer

Mental accounting refers to the way individuals group, categorize, and evaluate different financial outcomes or experiences. It is a cognitive process and an important factor in consumer decision making. Cost and financial accounting are more traditional accounting methods that focus on recording and reporting financial transactions. Behavioral accounting is a relatively new field that applies psychological theories and principles to accounting practices. Factual accounting is not a recognized term.

Question 7

A mobile phone manufacturing company observes that the main reason for an abrupt fall in their sales volume is the unconventional design of their phones that consumers found inconvenient and unattractive. The findings prompt the company to adopt a new strategy. They redesigned the product models keeping the requirements of the end-user in mind. According to the expectancy value-model, the company's strategy can be termed as ________.

Accepted Answer

The company's strategy of redesigning their product models keeping the requirements of the end-user in mind fits the concept of real repositioning in the expectancy value-model. Real repositioning involves actual changes made to the product or service offering to better match customer needs and preferences. Psychological repositioning involves changing customers' perceptions of the existing product without actually changing the product itself. Competitive depositioning involves highlighting the unfavorable aspects of competitors' products, while physiological depositioning and prescriptive method are not relevant in this context.

Question 8

Steve has only 20 minutes to have lunch. Although he really likes McDonald's, the line is very long and he is concerned that he will not have a chance to get through the line and eat his lunch before he is due back at work. Steve perceives ________ in going to McDonald's today.

Accepted Answer

Steve perceives time risk in going to McDonald's as he is concerned that he will not have enough time to get through the long line and eat his lunch before he is due back at work.

Question 9

A consumer tells another consumer, "Every time I eat at Jack's Steakhouse, I get poor service." Whether this is true or not, it is the consumer's perception. This is an example of consumers basing future predictions on the quickness and ease with which a particular example of an outcome comes to mind. This scenario would be an illustration of the ________ heuristic.

Accepted Answer

This scenario is an example of the availability heuristic, where the consumer is basing their perception of poor service at Jack's Steakhouse on their most readily available and memorable experience.

Question 10

When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision, the marketer is using ________.

Accepted Answer

The answer of When a marketer tries to alter a...

Question 11

________ risk occurs if the product fails to perform up to expectations.

Accepted Answer

Functional risk refers to the risk that the product may not perform as it is expected to. This can include issues such as reliability, durability, and ease of use. If a product does not meet these expectations, it can lead to dissatisfaction with the product, and ultimately, lost sales and revenue for the company.

Question 12

Members within a social class tend to behave more alike compared to members from two different social classes.

Accepted Answer

Social class can have a significant impact on an individual's behavior, values, and attitudes. People from the same social class often share similar experiences, lifestyles, and cultural norms, leading to similar behaviors. In contrast, people from different social classes may have different priorities, values, and expectations, leading to diverse behaviors. Therefore, members within a social class tend to behave more alike than members from different social classes.

Question 13

Ben always reaches for the bright blue and yellow box of Ritz crackers when he visits the snack food aisle in the grocery store. He rarely even reads the box or checks the price. Which of the following heuristics is most likely being used by Ben?

Accepted Answer

Ben is using the representative heuristic, where he relies on the resemblance of the Ritz crackers to his mental representation of a desirable snack food and doesn't consider other options.

Question 14

Even if consumers form brand evaluations, two general factors can intervene between the purchase intention and the purchase decision. One of these is unanticipated situational factors. What is the other factor?

Accepted Answer

The other factor that can intervene between the purchase intention and the purchase decision is attitudes of others. For example, if a consumer intends to purchase a certain brand of clothing, but their friends or family members express negative opinions about that brand, it may influence the consumer to reconsider their purchase decision.

Question 15

Which of the following products is most likely to be characterized by low involvement but significant brand difference?

Accepted Answer

Toothpastes are typically products that consumers do not spend a lot of time deliberating over before purchase, indicating low involvement. However, there are significant brand differences in terms of ingredients, benefits (whitening, cavity protection, etc.), and flavors, which can influence consumer choice.

Question 16

Social class is the fundamental determinant of a person's wants and behavior.

Accepted Answer

While social class can have some influence on a person's wants and behavior, it is not the only or fundamental determinant. Other factors such as personality, upbringing, culture, and individual experiences can also play a significant role.

Question 17

The level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus is called ________.

Accepted Answer

Consumer involvement refers to the level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus. Elaboration likelihood refers to the extent to which a person carefully thinks about information relevant to a decision. Consumer disengagement and low involvement are not the correct terms for this concept, and variety seeking refers to the tendency for consumers to switch between brands as a way of reducing boredom or increasing variety in their lives.

Question 18

A key driver of sales frequency is the product ________ rate.

Accepted Answer

Sales frequency refers to the number of times a product is sold within a period, which is influenced by the product consumption rate. If a product is consumed frequently, it will have a higher sales frequency as there will be a need for repeat purchases. On the other hand, if a product is consumed less frequently or has a longer lifespan, sales frequency may be lower as there will be less need for repeat purchases. Therefore, consumption rate is the key driver of sales frequency.

Question 19

Groups that have an indirect influence on a person's attitude or behavior can be a part of his/her reference groups.

Accepted Answer

This statement is true. Reference groups can have both direct and indirect influences on a person's attitudes and behaviors. Indirect influences occur when a person observes the attitudes and behaviors of a particular group and adjusts their own attitudes and behaviors accordingly, even if they are not directly interacting with that group.

Question 20

With the ________, the consumer chooses the best brand on the basis of its perceived most important attribute.

Accepted Answer

The lexicographic heuristic involves the customer choosing the brand that they perceive as having the most important attribute. This decision rule is based on the idea that the customer views one attribute as more important than others, and therefore selects the brand that performs best on that attribute.

Quiz 6: Analyzing Consumer Markets