15 Questions
What is one key reason for building loyalty to a brand as a marketing strategy?
To identify the most faithful customers
Which demographic dimension is of great interest to marketers as it can determine which group has the greatest buying power and market potential?
Social class and income
What does the approach of 'Relationship Marketing' focus on?
Building relationships between brands and customers
What is the term used for the collection and analysis of extremely large datasets in marketing?
Big Data
What is the main focus of Database Marketing?
Tailoring products based on information
Why are changes and trends revealed by demographic studies of great interest to marketers?
To locate and predict the size of markets
What does the 80/20 rule in marketing state?
20 percent of users account for 80 percent of sales
Why do national marketers tailor their offerings to appeal to consumers who live in different parts of the country?
To respond to geographic differences in consumer needs and preferences
What is the main focus of segmenting by behaviour in marketing?
Tracking specific consumers' buying habits
Which demographic dimension can have a huge effect on a consumer’s spending priorities?
Lifestyles
What is consumer behaviour?
The process of buying and having products/services to satisfy needs and desires
What does exchange theory emphasize in consumer behaviour?
The entire consumption process
In the context of consumer behaviour, who is a consumer?
A person who identifies a need or desire, makes a purchase, and disposes of the product
Why do businesses learn about consumer behaviour?
To understand the process involved when individuals select, purchase, use, or dispose of products/services
What does consumer behaviour study?
The processes involved when individuals select, purchase, use, or dispose of products/services/ideas or experiences to satisfy needs and desires
Test your knowledge of the introduction to consumer behaviour and its impact on marketing strategy. Topics include the consumer behaviour process, marketing's impact on consumers, and the two perspectives on consumer research.
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