Psy 255- Chatper 2

  1. The _____ represents consumer behavior theory illustrating factors thatshape consumption-related behaviors that ultimately determine the valueassociated with consumption.

    a.Consumer Behavior Framework (CBF)
    b.Comsumer Value Framework (CVF)
    c.Consumption Process Framework (CPF)
    d.Customer relationship framework (CRF)
    e.Marketing-Consumer Framework (MCF)
    b. Consumer Value Framework (CVF)
  2. Which of the following is an internal influence on consumer value?

    a.costs
    b.learning
    c.social class
    d.time/timing
    e.family
    b. learning
  3. Which of the following is an external influence on consumer value?

    a.personal values
    b.lifestyles
    c.needs
    d.perception
    e.reference groups
    e. reference groups
  4. All of the following are elements of consumer psychology EXCEPT _____.





    A. culture
  5. A automobile marketer is interested in the psychological influences on potential buyers of luxury automobiles.  Which of the following would this researcher be interested in studying?





    E. all of the above
  6. All of the following are considered part of a consumer’s personality EXCEPT _____.

    a.traits
    b.values
    c.lifestyles
    d.motivation
    e.perception
    a. traits
  7. Over which factor depicted in the Consumer Value Framework does the marketer have the most control?





    C. motivation
  8. USAA is an insurance company that believes customers form relationships with companies as opposed to companies merely conducting individual transactions with customers.  For this reason, USAA rewards loyal customers in the form of dividends at the end of each year.  The longer a customer has been with the company, the greater the dividend received.  USAA is implementing _____.

    a.consumer value management (CVM)
    b.hedonic value
    c.marketing relationship management (MRM) d.customer relationship management (CRM) e.relationship quality management (RQM)
    d. custiner relationship management (CRM)
  9. Which orientation means each customer represents a potential stream of resources rather than just a single sale?

    a.product orientation
    b.CVF orientation
    c.hedonic orientation
    d.CRM orientation
    e.utilitarian orientation
    d. CRM orientation
  10. _____ reflects the connectedness between a consumer and a retailer, a brand, or service provider.





    C. relationship quality
  11. When a consumer realizes high value from an exchange with a company, _____ improves.




    d.augmented quality
    e.elasticity
    C. relationship quality
  12. _____ are things that go on inside of the mind and heart of the consumer and influence value.

    a.External influences
    b.Innate influences
    c.Internal influences
    d.Social influences
    e.Personal influences
    c. internal influences
  13. Hannah believes that Mac computers are better than Windows-based computers because they are not as vulnerable to computer viruses.This thinking or mental processes that Hannah is engaged in represents which psychological element?





    A. cognition
  14. Every Disney employee is thought of and trained to be a host or hostess with the express goal of making sure all guests feel good when they are there.Which of the follow refers to the feelings visitors experience while they are there and long after they’ve left?





    E. affect
  15. Characteristic traits of individuals, including personality and lifestyles, are known as _____.





    A. individual differences
  16. Haley is a member of a sorority.  She uses certain brands because they are popular with the others in her sorority.  Her sorority sisters are part of the _____ that influences Haley’s everyday experiences.

    a.internal environment
    b.value network
    c.relationship network
    d.emotional environment
    e.social environment
    e. social environment
  17. It’s the day before Christmas and Mark has not even started shopping for gifts for his family.  He rushes to the mall and buys the first things he sees.  Which of the following is most likely having the greatest impact on Mark’s behavior?





    E. socio-environmental factors
  18. _____ is a personal assessment of the net worth obtained from an activity.





    E. value
  19. Which of the following represents the value equation?





    A. Value = What you get - What you give
  20. All of the following are examples of benefits received from consumption EXCEPT _____.





    E. effort
  21. All of the following are examples of “What you give,” or sacrifices, in the value equation EXCEPT _____.

    a.time
    b.opportunity
    c.emotions
    d.image
    e.experience
    e. experience
  22. Two main types of value are _____.

    a.internal and external
    b.utilitarian and hedonic
    c.personal and social
    d.primary and secondary
    e.temporal and stable
    b. utilitarian and hedonic
  23. _____ value is derived from a product that helps a consumer solve problems and accomplish tasks.





    E. utilitarian
  24. _____ value is the immediate gratification that comes from experiencing some activity.





    A. hedonic
  25. How do hedonic and utilitarian value differ?





    C. Hedonic value is very emotional and subjective in nature.
  26. A planned way of doing something is known as a(n) _____.





    E. strategy
  27. A company that views itself in a product business, rather than in a value, or benefits producing business runs the risk of developing _____, which could cause the company to go out of business if technology makes the product obsolete.





    E. marketing myopia
  28. Black & Decker is well known for power tools.  However, if the company thinks of itself merely as a power tool company instead of a company that delivers the benefits users want, such as cut materials or holes in materials, it could be taking a short-sighted focus of its business.  If a technologically-advanced device is developed that could replace the need for power tools to deliver those benefits, this company could go out of business.  That is, Black & Decker could suffer from _____.

    a.brain drain
    b.cognitive dissonance
    c.marketing disconnect
    d.marketing myopia
    e.product devaluation
    d. marketing myopia
  29. A university realizes it needs to increase revenue in the face of severe budget cuts due to the weak economy.  The school decides to pursue students who have some college but have not completed their degrees.  To do this, the university is offering online degree programs, charges extra fees for these students, offers a wide selection of online courses each semester, and advertises on billboards, on radio, on television, and in newspapers throughout the state.  The school also sends direct mail letters to students who were previously enrolled at the school but did not complete their degree.  The courses, the tuition, online delivery, and promotion are examples of _____.

    a.corporate strategy
    b.value enhancement
    c.marketing tactics
    d.marketing augmentation
    e.task implementation
    c. marketing tactics
  30. Kyle purchased a Macbook Pro and an extended warranty.  He also purchased one-on-one training to learn how to use the computer.  This is an example of a(n) _____.





    E. augmented product
  31. The business practice wherein companies operate with the understanding that products provide value in multiple ways is called the _____.





    C. total value concept
  32. The realization that a consumer is necessary and must play a part in order to produce value is the major premise underlying the concept of _____.





    B. value co-creation
  33. All of the following are elements of the marketing mix EXCEPT _____.





    C. planning
  34. Vann’s is a company that manufactures and markets shoes for serious skateboarders.  These consumers are predominantly males, 10-25 years old.  This market segment that Vann’s serves with a specific marketing mix is called its _____.





    C. target market
  35. Community Trust Bank is analyzing its customer data to determine if groups other than simply consumer and business customers can be identified.  It is looking at the frequency of branch visits, use of ATMs, online banking activity, loan activity, and account balances for each customer.  The bank has identified three groups of customers based on these factors and is considering offering different products to better meet the needs of each group.  What marketing concept do these different groups of customers represent?





    A. market segmentation
  36. The degree to which a consumer is sensitive to changes in some product characteristic is known as _____.

    a.elasticity
    b.differentiation
    c.sensitivity
    d.segmentation
    e.positioning
    a. elasticity
  37. A product with backward sloping demand _____





    D. displays a positive price-quantity demanded relationship
  38. Consumers do not view all soft drinks as identical to one another.  Some prefer Coca-Cola, while others will only drink Pepsi-Cola.  Still others will not drink either cola and drink only non-caffeinated soft drinks.  This marketplace condition in which consumers do not view all competing products as identical to one another is called _____.





    D. product differentiation
  39. _____ refers to the way a product is perceived by a consumer.





    C. product positioning
  40. A cosmetic manufacturer was looking at a graphical display of how women perceived different brands of cosmetics and was dismayed to learn that its brand was clustered with brands that are targeted toward older women, not the younger women the marketer was trying to reach.  The graphical depiction of the positioning of competing brands the marketer was using is called a(n) _____.





    D. perceptual map
  41. Which of the following on a perceptual map represents the combination of product characteristics that provide the most value to an individual consumer or market segment?





    A. ideal point
  42. What do the x- and y-axes on a perceptual map represent?





    C. factors used to identify market segments
  43. The approximate worth of a customer to a company in economic terms is known as _____.





    e.customer value (CV)
    B. customer lifetime value (CLV)
Author
Nandeita.Naraine
ID
175413
Card Set
Psy 255- Chatper 2
Description
Chapter 2
Updated