Consumer Behavior Quiz

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Which of the following is NOT one of the five stages in the consumer decision process?

Post-purchase evaluation (correct)

Need recognition

Information search

Alternative evaluation

What is the difference between a need and a want?

Needs are functional, wants are psychological (correct)

Needs are performance, wants are financial

Needs are desires and goals of a target audience, wants are goods or services that are desired but not necessarily needed

Needs are personal gratification, wants are functional

Which type of perceived risk is associated with the perceived danger inherent in a poorly performing product or service?

Psychological risk

Performance risk (correct)

Financial risk

Social risk

What is the main difference between functional needs and psychological needs?

Functional needs refer to the performance of a product or service, while psychological needs refer to personal gratification Signup and view all the answers

What is social risk in the context of consumer behavior?

Fears that consumers suffer when they worry others might not regard their purchases positively Signup and view all the answers

Which metrics can help analyze the economic environment of a country?

Inflation rate, unemployment rate, and GDP growth rate Signup and view all the answers

Which types of governmental actions should we be concerned about when evaluating a country?

Tariffs, quotas, and exchange controls Signup and view all the answers

What are some important cultural dimensions?

Power distance, uncertainty avoidance, and individualism Signup and view all the answers

Why is each BRIC country viewed as a potential candidate for global expansion?

China has a large market size and a rapidly growing economy Signup and view all the answers

Which global strategy has the least risk and why?

Exporting because it requires minimal investment and financial commitment Signup and view all the answers

Consumer Behavior Quiz

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Questions and Answers

Which of the following is NOT one of the five stages in the consumer decision process?

What is the difference between a need and a want?

Which type of perceived risk is associated with the perceived danger inherent in a poorly performing product or service?

What is the main difference between functional needs and psychological needs?

What is social risk in the context of consumer behavior?

Which metrics can help analyze the economic environment of a country?

Which types of governmental actions should we be concerned about when evaluating a country?

What are some important cultural dimensions?

Why is each BRIC country viewed as a potential candidate for global expansion?

Which global strategy has the least risk and why?

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