CONSUMER BEHAVIOUR MKTG2500 MIDTERM STUDY SET EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
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Course
MKTG 2500
Institution
MKTG 2500
CONSUMER BEHAVIOUR MKTG2500 MIDTERM STUDY SET EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS
Ch.1- What are Consumption Communities?
Consumers sharing opinions and recommendations
Ch.1- What is Consumer Behaviour?
the study of the processes involved when individuals or groups select, purcha...
consumer behaviour mktg2500 midterm study set exam
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CONSUMER BEHAVIOUR MKTG2500 MIDTERM STUDY SET
EXAM QUESTIONS AND ANSWERS WITH COMPLETE
SOLUTIONS
Ch.1- What are Consumption Communities?
Consumers sharing opinions and recommendations
Ch.1- What is Consumer Behaviour?
the study of the processes involved when individuals or groups select, purchase, use, or
dispose of products, services, ideas, or experiences to satisfy needs and desires.
-Consumer behaviour is more than just a purchase.
-It involves the issues that influence the consumer before, during, and after the
purchase.
Ch.2- What is Sensation?
The immediate response of our sensory receptors to basic stimuli
Ch.1- What is Market Segmentation?
Identifying groups of consumers who are similar to one another in one or more ways
and then devises marketing strategies that appeal to one or more groups.
•Our diverse culture stresses a segmentation strategy be employed
•Importance of the 80/20 rule
Ch.1- What are Psychographics?
,Differences in consumers' personalities, attitudes, values, and lifestyles
•The way we feel about ourselves
•Our attitudes to things and others around us
•The things we value
Ch.2- What is Perception?
The process by which sensations are selected, organized and interpreted
Ch.2- What are the 3 Sensory Inputs that make up Perception?
-exposure
-attention
-interpretation
Ch.1- What is Relationship Marketing?
Involves making an effort to interact with customers on a regular basis, giving them
reasons to maintain a bond with the company over time.
-One way to create relationships with customers is through database marketing
Ch.1- What is Database Marketing?
Database Marketing tracks specific consumers' buying habits very closely and crafts
products and messages tailored precisely to people's wants and needs based on this
information
Ch.1- What is the Global Consumer Culture?
Global consumer culture has united people around the globe by common devotion to:
-Brand name consumer goods
-Movie stars
-Celebrities
,This has influenced by:
-U-commerce - the use of Ubiquitous networks
-RFID tags - communication chips
-Companies expanding overseas
Ch.1- What are Consumer Trends?
•Consumer trends are underlying values
•These values drive consumers toward certain products and services and away from
others
•Consumer trend forecasting is big business; organizations devote massive resources
towards consumer behaviour
Ch.1- What are the important Consumer trends that will impact marketing
strategies in the near future?
-Sharing economy
-Authenticity and personalization
-Blurring of gender roles
-Diversity and multiculturalism
-Social shopping
-Healthy and ethical living
-Simplification
-Anonymity
Ch.2- What is Sensory Marketing?
New era of marketing, organizations pay extra attention to impact of sensation on our
product experiences
, -Sight
-Smell
-Hearing
-Touch
-Taste
Ch.2- How do marketers use colour?
Ch.2- What is the Limbic system?
the emotional center of your brain that is involved in emotional responses, influencing
decision-making, desires, and preferences, often driving impulsive or emotional
purchases
-Process' our fragrance cues
Ch.4- What is Motivational Strength?
The degree of willingness to expend energy to reach a goal
-Drive Theory
-Expectancy Theory
Ch.2- What is Sound Symbolism?
The process by which the way words & sounds influences our assumptions about what
it describes, certain phonemes preferred by customers
-how a catchy jingle can influence our preference for a product
Ch.1- What are Business Ethics?
To conduct business honestly and ethically, rules of conduct that guide the marketplace
•Knowing right from wrong
Ch.1- What is the Prescribed Code of Ethical Guidelines?
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