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Exam (elaborations)

MK T 10FINAL EXAM QUESTIONS WITH VERIFIED ANSWERS

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  • Course
  • MKT 100
  • Institution
  • MKT 100

MKT 100 FINAL EXAM QUESTIONS WITH VERIFIED ANSWERS 3 ECONOMIC factors affecting CONSUMER PURCHASE BEHAVIOUR - Answer-consumer income/ purchasing power inflation Recession /.3 strategies to reduce percieved risk - Answer-obtain seals of approval secure endorsements free trials/sam...

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  • September 4, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MKT 100
  • MKT 100
avatar-seller
kartelo
3 ECONOMIC factors affecting CONSUMER PURCHASE BEHAVIOUR - Answer-
consumer income/ purchasing power

inflation

Recession

/.3 strategies to reduce percieved risk - Answer-obtain seals of approval

secure endorsements

free trials/samples

/.3 types of media are: - Answer-newspapers / magazines

digital and mobile

direct response

/.4 Eras (How marketing creates value) - Answer-PRODUCTION-ORIENTED (good will
sell itself),

SALES ORIENTED (answers overproduction by focusing on sales)

MARKET ORIENTED (what customers want)

VALUE BASED (giving greater value than the competition)

/.4 key Consumer markets - Answer-GLOBAL, CONSUMER, BUSINESS,
GOVERNMENT

/.4 major types of advertising - Answer-pioneering

competitive

comparative

advocacy - institutional

/.4 types of consumer products - Answer-convenience, shopping, specialty, unsought

/.Additions to Product Lines - Answer-new products to supplement existing product lines

, /.advertising appeal - Answer-the unique selling proposition

- health
-convenience
-fun/pleasure
-emotion

/.Advocacy - Answer-expressing views on a change

/.AIDA - Answer-Attention, Interest, Desire, Action

/.Andrew is really important to marketers. He has the capacity to influence others in the
choices they make, is respected by others for his knowledge and is seen by others to be
a credible source of information. Andrew is part of WHAT GROUP when it comes to
consumer adoption? - Answer-Early adopters

/.Arnold is never the first to try new products, but he does try them before the average
person. He looks at mass media and those with more knowledge as sources of
information. Arnold is part of what group when it comes to consumer adoption? -
Answer-Early majority

/.Attribute - Answer-a product feature

/.Baby Boom Generation - Answer-massive group of consumers

believe in youth

/.Barry tends to be skeptical when it comes to new products such as driverLESS cars .
He doesnt trust mass media/salespeople. He will ONLY adopt a product when most
people have already purchased it. Barry is part of what group when it comes to
consumer adoption? - Answer-Laggards

/.Behavioural segmentation - Answer-dividing a market into segments based on
consumer knowledge, attitudes, uses, or responses to a product

/.Benefit - Answer-based on needs and wants

people seeking certain benefits

/.BRAND EQUITY - Answer-the value of company and brand names

/.Brand Mark - Answer-the elements of a brand that CANNOT be spoken

/.Brand name - Answer-part of brand that CAN be spoken

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