Factors Influencing Family Buying Decisions Quiz
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Questions and Answers

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?

    <p>Personality</p> Signup and view all the answers

    What are beliefs according to the text?

    <p>Thoughts about a company</p> Signup and view all the answers

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

    <p>It helps remember information supporting personal beliefs and feelings</p> Signup and view all the answers

    What are the key steps in identifying possible competitive advantages?

    <p>Product, Service, People, Image</p> Signup and view all the answers

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

    <p>Informative</p> Signup and view all the answers

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

    <p>Value Proposition</p> 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?

    <p>Providing more energy than competitors</p> Signup and view all the answers

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

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

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

    <p>An untapped market need for distinct offerings</p> Signup and view all the answers

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

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

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

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

    What is the Societal Marketing Concept based on?

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

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

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

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

    <p>Stage 4: Building Customer Relationships.</p> Signup and view all the answers

    What does Customer Relationship Management involve?

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

    What is the main difference between undifferentiated and differentiated marketing?

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

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

    <p>Differentiated marketing</p> Signup and view all the answers

    What is the primary practice involved in micromarketing?

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

    What does positioning in target segments involve?

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

    Why is positioning necessary according to the text?

    <p>Addressing communication overload in the society.</p> Signup and view all the answers

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

    <p>Product variability.</p> Signup and view all the answers

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

    <p>Can be accessed quickly and cheaply</p> Signup and view all the answers

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

    <p>Marketing department</p> Signup and view all the answers

    What is a common disadvantage associated with competitive marketing intelligence?

    <p>High cost of maintaining databases</p> Signup and view all the answers

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

    <p>Searching through competitors' trash for valuable data</p> Signup and view all the answers

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

    <p>To collect and analyze data relevant to a marketing situation</p> Signup and view all the answers

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

    <p>'Big Data' analytics</p> Signup and view all the answers

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