Question 1

A consumer who recognizes that he or she is thirsty during a shopping trip is in the problem recognition stage of the buying process model.

Accepted Answer

Problem recognition is the first stage of the buying process model where a consumer recognizes a need or problem, which can be triggered by internal or external stimuli. In this case, the consumer realizing that he or she is thirsty is an internal stimuli triggering problem recognition.

Question 2

Suppose that you have just obtained your first job after graduation,and you conclude that your new income will allow you to purchase items that were once too expensive for you.You are in the information seeking stage of the consumer buying process.

Accepted Answer

The scenario described indicates you are in the problem recognition stage of the consumer buying process, where you realize your new income can fulfill previously unmet desires, not actively seeking information about specific products yet.

Question 3

A model of the consumer buying process shows that the search for information is the first stage of the buying process model.

Accepted Answer

The first stage of the consumer buying process model is typically recognized as the recognition of a need or problem, not the search for information. The search for information usually comes after the consumer has recognized a need.

Question 4

The first step in conducting market research is to study the current situation in order to identify a need and to determine how that need is being met.

Accepted Answer

This statement is true. Before conducting market research, it is important to understand the current situation and determine if there is a gap in the market that needs to be filled. This involves researching competitors, market trends, consumer behavior, and other relevant factors.

Question 5

With respect to influences on consumer behaviour,perceptions are included in the category "personal influences," while reference groups are included in the "social influences" category.

Accepted Answer

The answer of With respect to influences on consumer behaviour,perceptions...

Question 6

Before buying a new smartphone,you might read about different brands,or ask a sales clerk for a recommendation,or rely on your own experience.All of these actions illustrate that you are in the information seeking stage of the consumer buying process.

Accepted Answer

These actions are part of the information seeking stage where consumers gather information to make an informed purchase decision.

Question 7

Diana is going to be married soon,and she is shopping around for a wedding gown.For Diana,a wedding gown is a shopping good.

Accepted Answer

The answer of Diana is going to be married soon,and...

Question 8

Surveys may vary widely in their accuracy.

Accepted Answer

Surveys can vary in their accuracy due to factors such as sample size, sampling methods, wording of questions, and respondent biases.

Question 9

Market research is the study of what buyers need and how best to meet those needs.

Accepted Answer

Market research aims to understand customer needs and preferences in order to develop products or services that meet those needs effectively. This may involve collecting and analyzing data on customer behavior, buying patterns, preferences, and attitudes towards different products or brands. By understanding what customers want, businesses can make informed decisions about what products to develop, how to market them, and what pricing strategies to use to maximize sales and profits.

Question 10

You and your spouse notice that the sports car you currently own is not going to be suitable for travelling when the new baby comes along.You are in the problem recognition stage of the consumer buying process.

Accepted Answer

The problem recognition stage is the first stage of the consumer buying process where the consumer recognizes a need or problem that requires a solution. In this case, the need is for a car that is suitable for travelling with a new baby, which means that the sports car they currently own is not suitable.

Question 11

B2B markets account for more than twice the sales of the B2C market.

Accepted Answer

B2B markets account for more than twice the sales of the B2C market, as they involve selling products and services to other businesses rather than individual consumers.

Question 12

Experimentation tries to compare the responses of similar individuals in different circumstances.

Accepted Answer

Experimentation involves manipulating a variable or circumstance and observing the resulting responses of individuals in a controlled setting. To ensure accuracy and reliability, experimenters usually compare the responses of similar individuals in different circumstances or conditions.

Question 13

Product "features" refer to both the tangible and intangible qualities of a product.

Accepted Answer

Product features can include physical characteristics like weight or size, as well as intangible qualities like ease of use or customer service.

Question 14

The comments of people in a focus group are taped,and researchers go through the data looking for common themes in participants' comments.

Accepted Answer

This is the standard process of analyzing focus group data where the comments of participants are recorded and then reviewed to identify common themes or patterns.

Question 15

A consumer who is dissatisfied with the first use of a product will usually try the product one more time to give it a second chance.

Accepted Answer

Consumer behavior studies suggest that first impressions are crucial, and a negative initial experience with a product often leads to abandonment rather than a second trial.

Question 16

You have just purchased a new Chevrolet.While driving,you notice that a new Ford has stopped beside the road and has its hazard lights blinking.You smile but decide to stop to help out.You are in the evaluation of alternatives stage of the consumer buying process.

Accepted Answer

The evaluation of alternatives stage occurs before a purchase is made, when a consumer is considering different options. Stopping to help a Ford owner after already purchasing a Chevrolet does not relate to evaluating alternatives for a purchase decision.

Question 17

The total variety of products a company has for sales is its product mix,while a product line is a group of products that are closely related because they function in a similar manner or are sold to the same customer group who will use them in similar ways.

Accepted Answer

The product mix refers to the complete range of products a company offers, while a product line is a subset of the product mix, consisting of related products.

Question 18

A newspaper,coffee,and an Egg McMuffin at McDonald's are all consumer convenience goods.

Accepted Answer

Consumer convenience goods are products that are easily and readily available to consumers, with minimal effort required to purchase them. Examples include newspapers, coffee, and fast food items like the Egg McMuffin at McDonald's.

Question 19

Specialty goods are important and expensive purchases for the buyers who decide on what they want,and they accept no substitutes.

Accepted Answer

Specialty goods are unique or high-end products that cater to specific needs or preferences of buyers. Such buyers are willing to pay a premium price for these goods and have a strong attachment to the brand or product. They are less price-sensitive and prioritize the quality, features, or benefits of the product, and hence, they do not accept substitutes easily. Therefore, specialty goods are important and expensive purchases for the buyers who have a distinct choice and preference.

Question 20

For industrial goods,the main difference between expense and capital items is the length of time they are used.

Accepted Answer

This is true. Expense items are used up quickly, typically within a year or less, while capital items have a longer useful life and are expected to last multiple years.

Quiz 12: Understanding Marketing Principles and Developing Products