Question 1

Mainland Automobiles Inc. classifies its market on the basis of income into low, middle, and high income groups. Which market segmentation scheme has the company used?

Accepted Answer

A)  Benefit segmentation 
B)  Buying situation segmentation 
C)  Demographic segmentation 
D)  Composite segmentation 
E)  Psychographic segmentation 
A)  Benefit segmentation 
B)  Buying situation segmentation 
C)  Demographic segmentation 
D)  Composite segmentation 
E)  Psychographic segmentation C

Question 2

Gambler's Den, a casino, has identified 2,000 people it categorizes as high rollers. Since the casino people contend that there are no unifying demographics that can be used to identify a high roller, what sort of segmentation must they be using?

Accepted Answer

A)  Social class and income 
B)  Occupation, perceived risk, and social class 
C)  Lifestyle 
D)  Occupation, education, and lifestyle 
E)  Occupation, education, and geographic 
A)  Social class and income 
B)  Occupation, perceived risk, and social class 
C)  Lifestyle 
D)  Occupation, education, and lifestyle 
E)  Occupation, education, and geographic C

Question 3

________ refers to the way people live, how they spend their time and money, and what activities they pursue.

Accepted Answer

A)  Marketing mix 
B)  Demographics 
C)  Lifestyle 
D)  Target marketing 
E)  Market segmentation 
A)  Marketing mix 
B)  Demographics 
C)  Lifestyle 
D)  Target marketing 
E)  Market segmentation C

Question 4

A purchase decision process in which customers devote considerable time and effort for analyzing alternatives is called

Accepted Answer

A)  attribution. 
B)  consumerism. 
C)  extended problem solving. 
D)  habitual decision making. 
E)  limited problem solving. 
A)  attribution. 
B)  consumerism. 
C)  extended problem solving. 
D)  habitual decision making. 
E)  limited problem solving.

Question 5

A clothing retailer realizes that its customers desire the latest clothing designs and accordingly maintains selection. Which criteria for evaluating retail segments is seen in this example?

Accepted Answer

A)  Accessible 
B)  Identifiable 
C)  Flexible 
D)  Actionable 
E)  Market size 
A)  Accessible 
B)  Identifiable 
C)  Flexible 
D)  Actionable 
E)  Market size

Question 6

Harley-Davidson stores sell merchandise that attracts people who love motorcycles and the idea of an open road and freedom. Some are bikers and others are those who do not have a Harley-Davidson motorcycle but buy the HD logo apparel and accessories. Therefore, Harley-Davidson is using ________ as the scheme for market segmentation.

Accepted Answer

A)  composite segmentation 
B)  geographic segmentation 
C)  demographic segmentation 
D)  benefit segmentation 
E)  lifestyle segmentation 
A)  composite segmentation 
B)  geographic segmentation 
C)  demographic segmentation 
D)  benefit segmentation 
E)  lifestyle segmentation

Question 7

Habitual decision making occurs when

Accepted Answer

A)  a decision process involves little or no conscious effort. 
B)  a decision requires assistance from sales associates. 
C)  the purchase decision involves a lot of risk and uncertainty. 
D)  retailers stimulate sales by suggesting complementary merchandise. 
E)  a decision requires extended problem solving. 
A)  a decision process involves little or no conscious effort. 
B)  a decision requires assistance from sales associates. 
C)  the purchase decision involves a lot of risk and uncertainty. 
D)  retailers stimulate sales by suggesting complementary merchandise. 
E)  a decision requires extended problem solving.

Question 8

What steps do retailers take in order to increase the chances that customers will easily convert their positive merchandise or service evaluation into purchases?

Accepted Answer

Retailers use various tactics to increas

Question 9

Catherine's is a chain of retail stores having merchandise assortments for women over size 14. Women who meet this criterion form a

Accepted Answer

A)  consideration set. 
B)  retail market segment. 
C)  demographic set. 
D)  reference group. 
E)  subculture. 
A)  consideration set. 
B)  retail market segment. 
C)  demographic set. 
D)  reference group. 
E)  subculture.

Question 10

Resorts that specialize in massage and aromatherapy look to target health-conscious people. Hence, they place advertisements in health and fitness magazines. Which criterion for evaluating a market segment is seen in the example?

Accepted Answer

A)  Reachable 
B)  Actionable 
C)  Identifiable 
D)  Substantial 
E)  Profitable 
A)  Reachable 
B)  Actionable 
C)  Identifiable 
D)  Substantial 
E)  Profitable

Question 11

Tires Plus is a store that specializes in auto maintenance and tires. After making sure that it is in the consumers' consideration set, Tires Plus, can ________ to increase the chances that the consumer will select its store for a visit.

Accepted Answer

A)  offer free fluid checks with each oil change as a new benefit 
B)  focus its resources by limiting itself to one advertising medium 
C)  use a vertical marketing system 
D)  implement a price skimming strategy 
E)  focus only on the customers' utilitarian needs 
A)  offer free fluid checks with each oil change as a new benefit 
B)  focus its resources by limiting itself to one advertising medium 
C)  use a vertical marketing system 
D)  implement a price skimming strategy 
E)  focus only on the customers' utilitarian needs

Question 12

The pattern of buying both premium and low-priced merchandise or patronizing both status-oriented retailers and price-oriented retailers is referred to as multichannel retailing.

Accepted Answer

A) True 
 B)False

Question 13

Retailers need to provide adequate information and an effortless shopping experience for hedonic shoppers.

Accepted Answer

A) True 
 B)False

Question 14

When consumers go shopping for pleasure, they are seeking to satisfy their

Accepted Answer

A)  emotional needs. 
B)  hedonic needs. 
C)  utilitarian needs. 
D)  cultural requirements. 
E)  impulse buying desires. 
A)  emotional needs. 
B)  hedonic needs. 
C)  utilitarian needs. 
D)  cultural requirements. 
E)  impulse buying desires.

Question 15

Which of the following is not True of the amount of information searched by customers?

Accepted Answer

A)  The amount of information searched depends on the value customers feel they can get from searching versus the cost of searching. 
B)  Consumers will spend more time searching for information when they have prior experience with the merchandise category. 
C)  The value of the search stems from how it improves the customer's purchase decision. 
D)  The costs of search include both the customer's time and money. 
A)  The amount of information searched depends on the value customers feel they can get from searching versus the cost of searching. 
B)  Consumers will spend more time searching for information when they have prior experience with the merchandise category. 
C)  The value of the search stems from how it improves the customer's purchase decision. 
D)  The costs of search include both the customer's time and money.

Question 16

Many department stores have advisory teen boards to help the retailer understand the fashions and fads of teens. This teen board acts as a(n) ________ for other teens to emulate.

Accepted Answer

A)  consideration set 
B)  attribute mix 
C)  peer group 
D)  reference group 
E)  subculture 
A)  consideration set 
B)  attribute mix 
C)  peer group 
D)  reference group 
E)  subculture

Question 17

Which of the following statements does not hold True for cross-shopping?

Accepted Answer

A)  Consumers show cross-shopping patterns because one store cannot satisfy their often conflicting, multiple needs. 
B)  People buy both premium and low-priced merchandise. 
C)  Customers patronize both expensive, status-oriented retailers and price-oriented retailers. 
D)  Buying patterns of cross-shoppers provide great opportunities only for specialty retailers. 
A)  Consumers show cross-shopping patterns because one store cannot satisfy their often conflicting, multiple needs. 
B)  People buy both premium and low-priced merchandise. 
C)  Customers patronize both expensive, status-oriented retailers and price-oriented retailers. 
D)  Buying patterns of cross-shoppers provide great opportunities only for specialty retailers.

Question 18

"Do It Again Sports" has everything a weekend warrior needs to get back into shape at reduced prices. They feature an array of treadmills, weights, sporting gear, and helpful staff. Thus, Do It Again Sports utilizes ________ as the scheme to segment the market.

Accepted Answer

A)  lifestyle segmentation 
B)  demographic segmentation 
C)  buying situation segmentation 
D)  geographic segmentation 
E)  geodemographic segmentation 
A)  lifestyle segmentation 
B)  demographic segmentation 
C)  buying situation segmentation 
D)  geographic segmentation 
E)  geodemographic segmentation

Question 19

Diego began his first job out of college with a consulting firm. He wanted to make a good impression on his superiors. He noticed the attire of the associates when he attended the interview and decided to dress in a similar manner. Which social factor has influenced Diego's dressing style?

Accepted Answer

A)  Culture 
B)  Reference group 
C)  Consideration set 
D)  Peer group 
E)  Subculture 
A)  Culture 
B)  Reference group 
C)  Consideration set 
D)  Peer group 
E)  Subculture

Question 20

What kind of consumer decision-making process is most closely associated with retailer loyalty?

Accepted Answer

A)  Extended problem solving 
B)  Habitual decision making 
C)  Impulsive problem solving 
D)  Limited problem solving 
E)  Contemplation 
A)  Extended problem solving 
B)  Habitual decision making 
C)  Impulsive problem solving 
D)  Limited problem solving 
E)  Contemplation

Mainland Automobiles Inc. classifies its market on the basis of income into low, middle, and high income groups. Which market segmentation scheme has the company used?

Gambler's Den, a casino, has identified 2,000 people it categorizes as high rollers. Since the casino people contend that there are no unifying demographics that can be used to identify a high roller, what sort of segmentation must they be using?

________ refers to the way people live, how they spend their time and money, and what activities they pursue.

A purchase decision process in which customers devote considerable time and effort for analyzing alternatives is called

A clothing retailer realizes that its customers desire the latest clothing designs and accordingly maintains selection. Which criteria for evaluating retail segments is seen in this example?

Habitual decision making occurs when

What steps do retailers take in order to increase the chances that customers will easily convert their positive merchandise or service evaluation into purchases?

Catherine's is a chain of retail stores having merchandise assortments for women over size 14. Women who meet this criterion form a

Resorts that specialize in massage and aromatherapy look to target health-conscious people. Hence, they place advertisements in health and fitness magazines. Which criterion for evaluating a market segment is seen in the example?

Tires Plus is a store that specializes in auto maintenance and tires. After making sure that it is in the consumers' consideration set, Tires Plus, can ________ to increase the chances that the consumer will select its store for a visit.

The pattern of buying both premium and low-priced merchandise or patronizing both status-oriented retailers and price-oriented retailers is referred to as multichannel retailing.

Retailers need to provide adequate information and an effortless shopping experience for hedonic shoppers.

When consumers go shopping for pleasure, they are seeking to satisfy their

Which of the following is not True of the amount of information searched by customers?

Many department stores have advisory teen boards to help the retailer understand the fashions and fads of teens. This teen board acts as a(n) ________ for other teens to emulate.

Which of the following statements does not hold True for cross-shopping?

"Do It Again Sports" has everything a weekend warrior needs to get back into shape at reduced prices. They feature an array of treadmills, weights, sporting gear, and helpful staff. Thus, Do It Again Sports utilizes ________ as the scheme to segment the market.

Diego began his first job out of college with a consulting firm. He wanted to make a good impression on his superiors. He noticed the attire of the associates when he attended the interview and decided to dress in a similar manner. Which social factor has influenced Diego's dressing style?

What kind of consumer decision-making process is most closely associated with retailer loyalty?

Introduction to the World of Retailing

Types of Retailers

Multichannel and Omnichannel Retailing

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters

Exam 4: Customer Buying Behavior

Mainland Automobiles Inc. classifies its market on the basis of income into low, middle, and high income groups. Which market segmentation scheme has the company used?

Gambler's Den, a casino, has identified 2,000 people it categorizes as high rollers. Since the casino people contend that there are no unifying demographics that can be used to identify a high roller, what sort of segmentation must they be using?

________ refers to the way people live, how they spend their time and money, and what activities they pursue.

A purchase decision process in which customers devote considerable time and effort for analyzing alternatives is called

A clothing retailer realizes that its customers desire the latest clothing designs and accordingly maintains selection. Which criteria for evaluating retail segments is seen in this example?

Habitual decision making occurs when

What steps do retailers take in order to increase the chances that customers will easily convert their positive merchandise or service evaluation into purchases?

Catherine's is a chain of retail stores having merchandise assortments for women over size 14. Women who meet this criterion form a

Resorts that specialize in massage and aromatherapy look to target health-conscious people. Hence, they place advertisements in health and fitness magazines. Which criterion for evaluating a market segment is seen in the example?

Tires Plus is a store that specializes in auto maintenance and tires. After making sure that it is in the consumers' consideration set, Tires Plus, can ________ to increase the chances that the consumer will select its store for a visit.

The pattern of buying both premium and low-priced merchandise or patronizing both status-oriented retailers and price-oriented retailers is referred to as multichannel retailing.

Retailers need to provide adequate information and an effortless shopping experience for hedonic shoppers.

When consumers go shopping for pleasure, they are seeking to satisfy their

Which of the following is not True of the amount of information searched by customers?

Many department stores have advisory teen boards to help the retailer understand the fashions and fads of teens. This teen board acts as a(n) ________ for other teens to emulate.

Which of the following statements does not hold True for cross-shopping?

"Do It Again Sports" has everything a weekend warrior needs to get back into shape at reduced prices. They feature an array of treadmills, weights, sporting gear, and helpful staff. Thus, Do It Again Sports utilizes ________ as the scheme to segment the market.

Diego began his first job out of college with a consulting firm. He wanted to make a good impression on his superiors. He noticed the attire of the associates when he attended the interview and decided to dress in a similar manner. Which social factor has influenced Diego's dressing style?

What kind of consumer decision-making process is most closely associated with retailer loyalty?

Introduction to the World of Retailing

Types of Retailers

Multichannel and Omnichannel Retailing

Retail Market Strategy

Financial Strategy

Retail Locations

Retail Site Location

Information Systems and Supply Chain Management

Customer Relationship Management

Managing the Merchandise Planning Process

Buying Merchandise

Retail Pricing

Retail Communication Mix

Human Resources and Managing the Store

Store Layout, Design, and Visual Merchandising

Customer Service

Filters