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?

  • 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?

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

    What is social risk in the context of consumer behavior?

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

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

    <p>Inflation rate, unemployment rate, and GDP growth rate</p> Signup and view all the answers

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

    <p>Tariffs, quotas, and exchange controls</p> Signup and view all the answers

    What are some important cultural dimensions?

    <p>Power distance, uncertainty avoidance, and individualism</p> Signup and view all the answers

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

    <p>China has a large market size and a rapidly growing economy</p> Signup and view all the answers

    Which global strategy has the least risk and why?

    <p>Exporting because it requires minimal investment and financial commitment</p> Signup and view all the answers

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