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SPMT 370 Waltemyer Unit 1 test Questions and Answers 100% Pass

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  • Module
  • SPMT 370
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  • SPMT 370

SPMT 370 Waltemyer Unit 1 test Questions and Answers 100% Pass Course Behavior - ANSWER -is a dynamic process, that can involve many people, involves many decisions, and involves consumer emotions consumer behavior as a field of study - ANSWER -study of consumers as they go about the consumpti...

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  • December 17, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • SPMT 370
  • SPMT 370
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SPMT 370 Waltemyer Unit 1 test
Questions and Answers 100% Pass

Course Behavior - ANSWER ✔✔-is a dynamic process, that can involve many people, involves many

decisions, and involves consumer emotions


consumer behavior as a field of study - ANSWER ✔✔-study of consumers as they go about the

consumption process; the science of studying how consumers seek value in an effort to address real needs


Segmentation Types - ANSWER ✔✔-Behavior, Demographic, Psychographic


Behavior segmentation type - ANSWER ✔✔-Need-based, discount, new, and potential


Demographic - ANSWER ✔✔-Age, race/ethnicity, social class/income, sex/gender


Psychographic - ANSWER ✔✔-Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer


Touchpoint - ANSWER ✔✔-direct contacts between the firm and a customer


What affects consumer behavior? - ANSWER ✔✔-External influences, internal influences, decision

making process, outcomes and issues


What are the approaches to studying consumer behavior? - ANSWER ✔✔-Description, Explanatory, and

Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnography, interviews, focus groups,

secret shoppers)


What does STP stand for? - ANSWER ✔✔-Segmentation, Targeting, Positioning


why is consumer behavior dynamic? - ANSWER ✔✔-Economy, technology, and globalization




Created by ©EmilyCharlene 2025. All rights reserved.

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Consumer behavior theory - ANSWER ✔✔-illustrates factors that shape consumption-related behaviors

and determine the value associated with consumption


What is consumption? - ANSWER ✔✔-the process by which consumers use and transform products into

value


Value= - ANSWER ✔✔-benefits - costs


Utilitarian Value - ANSWER ✔✔-a value derived from a product or service that helps the consumer solve

problems and accomplish tasks


Hedonic Value - ANSWER ✔✔-value derived from the gratification that comes from some task


Total value concept (TVC) - ANSWER ✔✔-practiced when companies operate with the understanding

that products provide value in multiple ways


TVC - ANSWER ✔✔-Every produts value proposition is made up of the augmented elemets, plus the

ancillary elements


4 P's - ANSWER ✔✔-Product, Price, Place, Promotion


Product Differentiation - ANSWER ✔✔-creating and designing products so that customers perceive them

as different from competing products


product positioning - ANSWER ✔✔-the way a product is designed to create a perception in the mind of

the consumer


Perceptual map - ANSWER ✔✔-the tool used to graphically depict the positioning of competing products


Blue Ocean Strategy - ANSWER ✔✔-positioning a firm far away from competitors' positions so that it

creates an industry of its own and, at least for a time, isolates itself from competitors




Created by ©EmilyCharlene 2025. All rights reserved.

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