Consumer Behaviour: Introduction and Marketing Impact

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Questions and Answers

What is one key reason for building loyalty to a brand as a marketing strategy?

  • To generate more transaction data
  • To increase the customer base
  • To track specific consumers' buying habits
  • To identify the most faithful customers (correct)

Which demographic dimension is of great interest to marketers as it can determine which group has the greatest buying power and market potential?

  • Age
  • Gender
  • Social class and income (correct)
  • Geography

What does the approach of 'Relationship Marketing' focus on?

  • Generating more transaction data
  • Building relationships between brands and customers (correct)
  • Tailoring products based on information
  • Identifying most faithful customers

What is the term used for the collection and analysis of extremely large datasets in marketing?

<p>Big Data (A)</p> Signup and view all the answers

What is the main focus of Database Marketing?

<p>Tailoring products based on information (C)</p> Signup and view all the answers

Why are changes and trends revealed by demographic studies of great interest to marketers?

<p>To locate and predict the size of markets (D)</p> Signup and view all the answers

What does the 80/20 rule in marketing state?

<p>20 percent of users account for 80 percent of sales (B)</p> Signup and view all the answers

Why do national marketers tailor their offerings to appeal to consumers who live in different parts of the country?

<p>To respond to geographic differences in consumer needs and preferences (B)</p> Signup and view all the answers

What is the main focus of segmenting by behaviour in marketing?

<p>Tracking specific consumers' buying habits (C)</p> Signup and view all the answers

Which demographic dimension can have a huge effect on a consumer’s spending priorities?

<p>Lifestyles (C)</p> Signup and view all the answers

What is consumer behaviour?

<p>The process of buying and having products/services to satisfy needs and desires (A)</p> Signup and view all the answers

What does exchange theory emphasize in consumer behaviour?

<p>The entire consumption process (B)</p> Signup and view all the answers

In the context of consumer behaviour, who is a consumer?

<p>A person who identifies a need or desire, makes a purchase, and disposes of the product (A)</p> Signup and view all the answers

Why do businesses learn about consumer behaviour?

<p>To understand the process involved when individuals select, purchase, use, or dispose of products/services (A)</p> Signup and view all the answers

What does consumer behaviour study?

<p>The processes involved when individuals select, purchase, use, or dispose of products/services/ideas or experiences to satisfy needs and desires (B)</p> Signup and view all the answers

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