Factors Influencing Family Buying Decisions Quiz

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Which factor mentioned in the text may necessitate different consumption patterns?

Perception

Age (correct)

Personality

Beliefs

What does the VALS2 segmentation system use to categorize individuals into eight different groups?

Perception

Lifestyle (correct)

Age

Occupation

Which process involves selecting inputs to be exposed to awareness while ignoring others?

Selective Exposure (correct)

Decision Making

Selective Distortion

Selective Retention

Which psychological characteristic leads to relatively consistent and lasting responses to one's environment?

Personality Signup and view all the answers

What are beliefs according to the text?

Thoughts about a company Signup and view all the answers

How does selective retention influence individuals' memories according to the text?

It helps remember information supporting personal beliefs and feelings Signup and view all the answers

What are the key steps in identifying possible competitive advantages?

Product, Service, People, Image Signup and view all the answers

Which of the following is NOT a criteria for choosing the right competitive advantages?

Informative Signup and view all the answers

What is a key aspect to consider when selecting an overall positioning strategy?

Value Proposition Signup and view all the answers

In the provided positioning statement example, what does Red Bull's unique selling point (point-of-difference) focus on?

Providing more energy than competitors Signup and view all the answers

How can the intensity of competition between brands be interpreted on a perceptual map?

The closer two brands are, the more different they are perceived to be Signup and view all the answers

What does a failure in differentiation represent in terms of market opportunity?

An untapped market need for distinct offerings Signup and view all the answers

What is the main difference between a customer-driving company and a customer-driven company?

Customer-driving companies focus on serving existing customers, while customer-driven companies try to determine the needs of target markets. Signup and view all the answers

Why is marketing research considered less useful in a customer-driving company?

Customers are unable to make demands about specific products or features. Signup and view all the answers

What is the Societal Marketing Concept based on?

Preserving or enhancing both consumer’s and society’s well-being. Signup and view all the answers

What is the primary interest of managers following the Societal Marketing Concept?

Building social and ethical considerations into marketing practices in addition to company profits and consumer wants. Signup and view all the answers

In which stage of the marketing process does building customer relationships become a key focus?

Stage 4: Building Customer Relationships. Signup and view all the answers

What does Customer Relationship Management involve?

Building/maintaining profitable customer relationships by delivering superior value and satisfaction. Signup and view all the answers

What is the main difference between undifferentiated and differentiated marketing?

Undifferentiated marketing targets the whole market with one offer, while differentiated marketing targets several market segments with separate offers. Signup and view all the answers

Which market coverage strategy focuses on designing separate offers for different market segments?

Differentiated marketing Signup and view all the answers

What is the primary practice involved in micromarketing?

Tailoring products and marketing programs to the needs of specific individuals and local customer groups. Signup and view all the answers

What does positioning in target segments involve?

Implanting the brand’s unique benefits and differentiation in customers’ minds based on important attributes. Signup and view all the answers

Why is positioning necessary according to the text?

Addressing communication overload in the society. Signup and view all the answers

What factors influence the choice of target marketing strategy according to the text?

Product variability. Signup and view all the answers

What is a key advantage of using internal data sources for assessing information needs?

Can be accessed quickly and cheaply Signup and view all the answers

Which department is responsible for monitoring reseller reactions and competitor activities as part of the internal data sources?

Marketing department Signup and view all the answers

What is a common disadvantage associated with competitive marketing intelligence?

High cost of maintaining databases Signup and view all the answers

In competitive marketing intelligence, what is meant by 'dumpster diving' as a source of information?

Searching through competitors' trash for valuable data Signup and view all the answers

What is the main purpose of marketing research as defined in the text?

To collect and analyze data relevant to a marketing situation Signup and view all the answers

Which of the following is NOT mentioned as a source of competitive marketing intelligence in the text?

'Big Data' analytics Signup and view all the answers