Exam 6: Analyzing Consumer Markets

With the ________ heuristic,the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.

Abraham Maslow sought to explain why people are driven by particular needs at particular times.Describe Maslow's hierarchy of needs.How does Maslow's theory help marketers?

People are more likely to notice stimuli whose deviations are large in relation to the normal size of the stimuli.

Gordon is considering purchasing a computer from Best Denki.He has created a scale for rating eight different computers on three different characteristics.He plans to short-list only those computers,that score at least a seven on his scale on all three characteristics.Which of the following choice heuristics has he chosen?

________ is the tendency to interpret information in a way that will fit our preconceptions.

________ refers to a set of distinguishing human psychological traits that lead to relatively consistent and enduring responses to environmental stimuli.

A person's personality portrays the "whole person" interacting with his or her environment.

Anchoring heuristic comes in to play when consumers base their predictions on the quickness and ease with which a particular example of an outcome comes to mind.

The family in a buyers life consisting of parents and siblings is the ________.

Psychological risk refers to the threat posed by a product to the physical well-being of a consumer.

A mobile phone manufacturing company observes that the main reason for an abrupt fall in their sales volume is the unconventional design of their phones that consumers found inconvenient and unattractive.The findings prompt the company to adopt a new strategy.They redesigned the product models keeping the requirements of the end-user in mind.According to the expectancy value-model,the company's strategy can be termed as ________.

Secondary groups require continuous interaction to be effective and meaningful.

Because of selective retention,we are likely to forget about the good points of competing products.

Selective attention is the tendency to interpret information in a way that will fit our preconceptions.

What is brand personality and what are the five traits that has been linked to it?

When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision,the marketer is using ________.

With the ________,predictions of usage are based on quickness and ease of use.

Anne is a frequent purchaser of Yoplait strawberry yogurt.For once,she decides to try a different flavored yogurt.Instead of trying out the flavors offered by competing brands,Anne selects a different flavor offered by Yoplait.Here,her past experience with the brand prompts her to make the choice.Anne's behavior can be best described as ________.

The degree of perceived risk varies with the amount of money at stake,the amount of attribute uncertainty,and the amount of consumer self-confidence.

An opinion leader is the person in informal,product-related communications who offers advice or information about a specific product or product category,such as which of several brands is best or how a particular product may be used.According to the text,how do marketers try to reach opinion leaders?