Question 1

Consumer behavior specifically refers to how people act when they buy products for personal consumption.

Accepted Answer

Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Question 2

Attitudes are a person's lasting evaluations of objects or ideas.

Accepted Answer

This statement is true. Attitudes are a person's enduring opinions or evaluations of objects, people, or ideas, and they can influence behavior and decision-making.

Question 3

Ricardo recently spent a lot of money on the purchase of a new sports car. He thought he would really enjoy it, but soon after the purchase, he began to question whether it was a smart move. Ricardo's doubts are an example of cognitive dissonance.

Accepted Answer

Ricardo's doubts and questioning of his decision after spending a lot of money on a new sports car is an example of cognitive dissonance, which is the mental discomfort or psychological stress that occurs when a person's beliefs, attitudes, and behaviors do not align.

Question 4

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and product­use.

Accepted Answer

This statement is true. Geography, customer characteristics, and product-use are commonly used criteria for segmenting a market in B2B marketing.

Question 5

To avoid ambushes and to uncover opportunities, a marketer must continuously monitor how only the dominant competitors handle each element of their marketing mix.

Accepted Answer

A marketer should monitor both dominant and emerging competitors to fully understand the market dynamics and uncover opportunities.

Question 6

Motivation and attitudes are major elements of the cultural influences on consumer decision making.

Accepted Answer

The answer of Motivation and attitudes are major elements of...

Question 7

Laws and regulations affecting marketing practices are a major part of the social/cultural marketing environment.

Accepted Answer

Laws and regulations are part of the legal/political environment, not the social/cultural environment.

Question 8

Cultural, social, personal, and psychological factors influence a consumer's purchasing decisions.

Accepted Answer

Cultural, social, personal, and psychological factors are four major influences on consumer behavior and purchasing decisions.

Question 9

A firm's marketing mix refers to the array of different types of products it has developed to attract different types of customers.

Accepted Answer

A firm's marketing mix refers to the combination of 4Ps - product, price, promotion, and place - which are used to create a unique value proposition for target customers. It does not refer to the array of different types of products only, but also the pricing strategy, promotional tactics, and distribution channels used by the firm.

Question 10

Cognitive dissonance is the part of postpurchase behavior that occurs when buyers have second thoughts after purchasing a product and begin to worry that they made a bad decision.

Accepted Answer

This statement describes cognitive dissonance accurately as the part of postpurchase behavior where buyers experience doubt and worry about their purchase decision.

Question 11

Anticipating and responding to social and cultural trends is not important to the entertainment, fashion or technology industries because they change so rapidly.

Accepted Answer

Anticipating and responding to social and cultural trends is important to the entertainment, fashion, and technology industries as these trends influence consumer behavior and preferences, ultimately impacting their bottom line. While these industries may change rapidly, staying ahead of trends can give them a competitive advantage and improve their long-term success.

Question 12

How much money you earn and what you do for a living are major determinants of your social class.

Accepted Answer

Social class is usually determined by income and occupation, among other factors. Therefore, how much money one earns and what they do for a living are major determinants of social class.

Question 13

Environmental scanning is the process of segmenting the market into individual responses to various products. This includes the benefits consumers seek from products and how consumers use products.

Accepted Answer

This statement is not accurate. Environmental scanning actually refers to the process of gathering and analyzing information about external factors that may impact an organization's strategy and operations, including economic, technological, social, and political trends. Market segmentation and consumer behavior analysis are different concepts that may be a part of a company's marketing strategy but are not directly related to environmental scanning.

Question 14

The consumer decision­making process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

Accepted Answer

This statement is true as it accurately describes the five stages involved in the consumer decision-making process.

Question 15

Culture refers to the values, attitudes, and customs shared by members of a society.

Accepted Answer

Culture is indeed defined as the shared values, attitudes, and customs of a society.

Question 16

A person's social class can have an impact on purchasing behavior.

Accepted Answer

Social class can influence the types of products a person buys, the brands they prefer, and the locations where they shop. People from different social classes may have different values, lifestyles, and priorities, which can affect their purchasing decisions. For example, upper-class consumers may be more willing to pay a premium for luxury goods or personalized services, while middle-class consumers may focus on value and convenience.

Question 17

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

Accepted Answer

The marketing mix refers to the four key elements that a firm uses to persuade customers to buy their products or services. These elements include product, price, promotion, and distribution, all of which are crucial in marketing strategy development.

Question 18

The product strategy a firm develops would include not only the physical product or specific service the firm offers but also its brand name, packaging, and customer service.

Accepted Answer

The product strategy of a firm includes not only the physical product or specific service but also the brand name, packaging, and customer service. These elements together make up the total product offering of the firm.

Question 19

Marina has opened a cupcake business and will be selling her cupcakes for personal consumption and to other businesses. Marina will only need to develop one marketing plan since consumers and businesses behave in the same manner when purchasing products or services.

Accepted Answer

Consumers and businesses have different purchasing behaviors, needs, and preferences. Therefore, Marina will need to develop separate marketing plans for her individual consumers and business clients.

Question 20

Strategies about the best way to incorporate personal selling, public relations, and word­of­mouth into the marketing of a product are part of the distribution strategy component of a firm's marketing mix.

Accepted Answer

These strategies are part of the promotion strategy component, not the distribution strategy, which focuses on how the product is delivered to the consumer.

Quiz 11: Marketing: Building Profitable Customer Connections

Consumer behavior specifically refers to how people act when they buy products for personal consumption.

Attitudes are a person's lasting evaluations of objects or ideas.

Ricardo recently spent a lot of money on the purchase of a new sports car. He thought he would really enjoy it, but soon after the purchase, he began to question whether it was a smart move. Ricardo's doubts are an example of cognitive dissonance.

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and productuse.

To avoid ambushes and to uncover opportunities, a marketer must continuously monitor how only the dominant competitors handle each element of their marketing mix.

Motivation and attitudes are major elements of the cultural influences on consumer decision making.

Laws and regulations affecting marketing practices are a major part of the social/cultural marketing environment.

Cultural, social, personal, and psychological factors influence a consumer's purchasing decisions.

A firm's marketing mix refers to the array of different types of products it has developed to attract different types of customers.

Cognitive dissonance is the part of postpurchase behavior that occurs when buyers have second thoughts after purchasing a product and begin to worry that they made a bad decision.

Anticipating and responding to social and cultural trends is not important to the entertainment, fashion or technology industries because they change so rapidly.

How much money you earn and what you do for a living are major determinants of your social class.

Environmental scanning is the process of segmenting the market into individual responses to various products. This includes the benefits consumers seek from products and how consumers use products.

The consumer decisionmaking process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

Culture refers to the values, attitudes, and customs shared by members of a society.

A person's social class can have an impact on purchasing behavior.

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

The product strategy a firm develops would include not only the physical product or specific service the firm offers but also its brand name, packaging, and customer service.

Marina has opened a cupcake business and will be selling her cupcakes for personal consumption and to other businesses. Marina will only need to develop one marketing plan since consumers and businesses behave in the same manner when purchasing products or services.

Strategies about the best way to incorporate personal selling, public relations, and wordofmouth into the marketing of a product are part of the distribution strategy component of a firm's marketing mix.

Quiz 11: Marketing: Building Profitable Customer Connections

Consumer behavior specifically refers to how people act when they buy products for personal consumption.

Attitudes are a person's lasting evaluations of objects or ideas.

Ricardo recently spent a lot of money on the purchase of a new sports car. He thought he would really enjoy it, but soon after the purchase, he began to question whether it was a smart move. Ricardo's doubts are an example of cognitive dissonance.

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and product­use.

To avoid ambushes and to uncover opportunities, a marketer must continuously monitor how only the dominant competitors handle each element of their marketing mix.

Motivation and attitudes are major elements of the cultural influences on consumer decision making.

Laws and regulations affecting marketing practices are a major part of the social/cultural marketing environment.

Cultural, social, personal, and psychological factors influence a consumer's purchasing decisions.

A firm's marketing mix refers to the array of different types of products it has developed to attract different types of customers.

Cognitive dissonance is the part of postpurchase behavior that occurs when buyers have second thoughts after purchasing a product and begin to worry that they made a bad decision.

Anticipating and responding to social and cultural trends is not important to the entertainment, fashion or technology industries because they change so rapidly.

How much money you earn and what you do for a living are major determinants of your social class.

Environmental scanning is the process of segmenting the market into individual responses to various products. This includes the benefits consumers seek from products and how consumers use products.

The consumer decision­making process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

Culture refers to the values, attitudes, and customs shared by members of a society.

A person's social class can have an impact on purchasing behavior.

Strategies about product, price, promotion, and distribution are all included in a firm's marketing mix.

The product strategy a firm develops would include not only the physical product or specific service the firm offers but also its brand name, packaging, and customer service.

Marina has opened a cupcake business and will be selling her cupcakes for personal consumption and to other businesses. Marina will only need to develop one marketing plan since consumers and businesses behave in the same manner when purchasing products or services.

Strategies about the best way to incorporate personal selling, public relations, and word­of­mouth into the marketing of a product are part of the distribution strategy component of a firm's marketing mix.

In B2B marketing, the most common strategies for segmenting a market are based on geography, customer characteristics, and productuse.

The consumer decisionmaking process involves need recognition, the search for information, evaluation of alternatives, the purchase decision, and postpurchase behavior.

Strategies about the best way to incorporate personal selling, public relations, and wordofmouth into the marketing of a product are part of the distribution strategy component of a firm's marketing mix.