Analyzing Consumer Markets Part 2

40) Betsy, a teenager, uses most of her post school hours in either playing tennis or watching movies. She barely manages to concentrate in her lessons for a couple of hours before term exams. Being questioned about her substandard performance in the school, she points out the teacher's inability to complete the entire course during the school hours as the possible reason. Betsy's behavior is most likely to be associated with ________. A) generalization B) hedonic bias C) discrimination D) selective attention E) psychological repositioning Answer: B 41) The associative network memory model views long-term memory as ________. A) a subliminal perception B) the interplay of drives C) a strong internal stimulus impelling action D) a temporary and limited repository of information E) a set of nodes and links Answer: E 42) ________ refers to the process in which information gets out of memory. A) Memory encoding B) Memory decoding C) Memory classification D) Memory retrieval E) Memorization Answer: A 43) Amtex electronics, a consumer products brand, advertises its products inside supermarkets and retail stores frequently to promote the process of ________ and stimulate purchase. A) memory verification B) memory retrieval C) memory decoding D) memory formation E) memory augmentation Answer: B 44) Cognitive psychologists believe that memory is ________, so that once information becomes stored in memory, its strength of association decays very slowly. A) highly perceptual B) somewhat collective C) highly communicative D) often reflective E) extremely durable Answer: E 45) The milder information search state where a person simply becomes more receptive to information about a product is called ________. A) active information search B) information search C) heightened attention D) purchase decision E) dynamic information search Answer: C 46) The buying process starts when the buyer recognizes a(n) ________. A) product B) advertisement for the product C) salesperson from a previous visit D) problem or need E) internal cue Answer: D 47) Which of the following is considered to be a more advanced form of information search wherein the person might phone friends or go online to secure information about a product or service? A) heightened attention B) short-term memory processing C) subliminal processing of information D) long-term memory processing E) active information search Answer: E 48) Of key interest to marketers are the major informational sources to which the consumer will turn and the relative importance of each. Which of the following can be considered an experiential information source? A) consumer-rating organizations B) mass media C) acquaintances D) Web sites E) personal handing and examination Answer: E 49) Brands that meet consumers' initial buying criteria are called the ________. A) total set B) awareness set C) consideration set D) choice set E) decision set Answer: C 50) Maria considers buying a car for herself, after she notices the advantages derived by her best friend from his new car. Which of the following forms of stimulus has activated Maria's problem recognition process? A) external stimuli B) internal stimuli C) peer stimuli D) secondary stimuli E) marketing induced stimuli Answer: A 51) A consumer who uses Google to find comparative reports on new automobiles, is most likely using which of the following information sources for assistance? A) personal B) public C) experiential D) commercial E) under-the-radar Answer: D 52) With respect to consumer decision making, the ________ is the set of strong contenders from which one will be chosen as a supplier of a good or service. A) total set B) awareness set C) consideration set D) choice set E) decision set Answer: D 53) A(n) ________ is a descriptive thought that a person holds about something. A) attitude B) belief C) desire D) feeling E) emotion Answer: B 54) A(n) ________ puts people into a frame of mind, such as, liking or disliking an object, moving toward or away from it. A) attitude B) belief C) feeling D) position E) stance Answer: A 55) Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________. A) market partitioning B) brand association C) market valuation D) market estimation E) market identification Answer: A 56) ________ are a person's enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea. A) Discriminations B) Values C) Beliefs D) Feelings E) Attitudes Answer: E 57) The expectancy-value model of attitude formation posits that consumers evaluate products and services by combining their ________. A) needs B) wants C) desires D) brand beliefs E) consuming attitudes Answer: D 58) Gordon Jones is considering purchasing a computer from Best Buy. He has created a scale for rating eight different computers on three different characteristics. He plans to short-list only those computers, that score at least a seven on his scale on all three characteristics. Which of the following choice heuristics has he chosen? A) elimination-by-aspects heuristic B) lexicographic heuristic C) conjunctive heuristic D) anchoring and adjustment heuristic E) representativeness heuristic Answer: C 59) With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes. A) conjunctive B) lexicographic C) elimination-by-aspects D) primary E) secondary Answer: A 60) ________ are rules of thumb or mental shortcuts in the decision process. A) Attitudes B) Beliefs C) Heuristics D) Discriminations E) Biases Answer: C 61) Even if consumers form brand evaluations, two general factors can intervene between the purchase intention and the purchase decision. One of these is unanticipated situational factors. What is the other factor? A) Amount of purchasing power B) Attitudes of others C) Short-term memory capabilities D) Ability to return merchandise E) The self-concept Answer: B 62) A mobile phone manufacturing company observes that the main reason for an abrupt fall in their sales volume is the unconventional design of their phones that consumers found inconvenient and unattractive. The findings prompt the company to adopt a new strategy. They redesigned the product models keeping the requirements of the end-user in mind. According to the expectancy value-model, the company's strategy can be termed as ________. A) psychological repositioning B) real repositioning C) competitive depositioning D) physiological depositioning E) prescriptive method Answer: B 63) Ford believes its cars to be of higher quality than General Motor's but thinks that consumers wrongly believe the opposite. Ford might employ a(n) ________ strategy to change buyers' perceptions of its competition. A) real repositioning B) competitive depositioning C) psychological repositioning D) biased repositioning E) attribute repositioning Answer: B 64) When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision, the marketer is using ________. A) psychological repositioning B) competitive depositioning C) positioning D) repositioning E) biased positioning Answer: A 65) With the ________, the consumer chooses the best brand on the basis of its perceived most important attribute. A) lexicographic heuristic B) conjunctive heuristic C) elimination-by-aspects heuristic D) availability heuristic E) representativeness heuristic Answer: A 66) ________ risk occurs if the product fails to perform up to expectations. A) Physical B) Financial C) Social D) Psychological E) Functional Answer: E 67) Steve has only 20 minutes to have lunch. Although he really likes McDonald's, the line is very long and he is concerned that he will not have a chance to get through the line and eat his lunch before he is due back at work. Steve perceives ________ in going to McDonald's today. A) time risk B) functional risk C) physical risk D) psychological risk E) social risk Answer: A 68) A key driver of sales frequency is the product ________ rate. A) consumption B) disposal C) refusal D) utility E) option Answer: A 69) The level of engagement and active processing undertaken by the consumer in responding to a marketing stimulus is called ________. A) elaboration likelihood B) consumer disengagement C) consumer involvement D) variety seeking E) low involvement Answer: C 70) A consumer is persuaded to buy a product by a message that requires little thought and is based on an association with a brand's positive consumption experiences from the past. In this situation, the consumer used a ________ to arrive at this purchase decision. A) central route B) peripheral route C) behavioral route D) subjective route E) objective route Answer: B 71) Richard Petty and John Cacioppo's ________, an influential model of attitude formation and change, describes how consumers make evaluations in both low- and high-involvement circumstances. A) introspective model B) elaboration likelihood model C) stimulus-response model D) associative network memory model E) expectancy-value model Answer: B 72) Which of the following products is most likely to be characterized by low involvement but significant brand difference? A) toothpastes B) digital cameras C) packet of salt D) a milk carton E) furniture Answer: A 73) With the ________, predictions of usage are based on quickness and ease of use. A) availability heuristic B) representative heuristic C) anchoring heuristic D) adjustment heuristic E) semantic heuristic Answer: A 74) A consumer tells another consumer, "Every time I eat at Big Bill's Steakhouse, I get poor service." Whether this is true or not, it is the consumer's perception. This is an example of consumers basing future predictions on the quickness and ease with which a particular example of an outcome comes to mind. This scenario would be an illustration of the ________ heuristic. A) discrimination B) differentiation C) availability D) screening E) representativeness Answer: C 75) Ben always reaches for the bright blue and yellow box of Ritz crackers when he visits the snack food aisle in the grocery store. He rarely even reads the box or checks the price. Which of the following heuristics is most likely being used by Ben? A) Availability B) Representative C) Anchoring D) Adjustment E) Semantic Answer: B 76) ________ refers to the manner in which consumers code, categorize, and evaluate financial outcomes of choices. A) Cost accounting B) Financial accounting C) Behavioral accounting D) Mental accounting E) Factual accounting Answer: D 77) Social class is the fundamental determinant of a person's wants and behavior. Answer: FALSE 78) An example of a subculture would be a person's geographic region. Answer: TRUE 79) Groups that have an indirect influence on a person's attitude or behavior can be a part of his/her reference groups. Answer: TRUE 80) Members within a social class tend to behave more alike compared to members from two different social classes. Answer: TRUE 81) Secondary groups require continuous interaction to be effective and meaningful. Answer: FALSE 82) When Mark went to college he had a burning desire to join a social fraternity; for Mark, the fraternity would be a dissociative group. Answer: FALSE 83) A person's position in a group is defined in terms of role and status. Answer: TRUE 84) Marketers need to be aware of the status-symbol potential of brands because people usually choose products which reflect their role and their actual or desired status in a society. Answer: TRUE 85) The behavior people exhibit as they pass through certain life-cycle stages, such as becoming a parent, is largely fixed and does not change over time. Answer: FALSE 86) For an employee at an organization, annual appraisal can be considered as a critical life event that impacts his/her consumption behavior. Answer: FALSE 87) Whereas economic circumstances can have a profound effect on consumption, occupation does not impact how people spend their money and what they buy. Answer: FALSE