Question 1

Which of the following is a negative consequence of consumption?

Accepted Answer

A) Quality 
B) Opportunity costs 
C) Prestige 
D) Convenience 
E) Experience 
A) Quality 
B) Opportunity costs 
C) Prestige 
D) Convenience 
E) Experience

Question 2

Explain why marketing plays an important strategic role in an organization and describe where marketing strategy fits in the bigger organization.

Accepted Answer

One way that a company can enhance the c

Question 3

A product with backward sloping demand displays _____.

Accepted Answer

A) a negative price-quantity relationship 
B) a higher consumer sensitivity toward price than toward other product factors 
C) a neutral price-quantity relationship 
D) a positive price-quantity relationship 
E) a higher consumer sensitivity toward product quality than toward price 
A) a negative price-quantity relationship 
B) a higher consumer sensitivity toward price than toward other product factors 
C) a neutral price-quantity relationship 
D) a positive price-quantity relationship 
E) a higher consumer sensitivity toward product quality than toward price

Question 4

FAST FOOD SCENARIO
Daniel, an entrepreneur, is planning to open a fast-food restaurant. He wants to cash in on the huge population of busy professionals who usually don't have the time for a sit-down meal. They prefer instead to grab a bite on the go. Daniel has done his fair share of research, and he found that though fast-food restaurants cater to the need for a quick bite, consumers feel guilty of indulging in what they thought was "unhealthy." Daniel conceptualized a place that will offer a quick bite as a healthy alternative, so consumers would not have to suffer from guilt. Daniel is looking at establishing a long-term relationship based on trust with his customers.
-Refer to Fast Food Scenario.Busy professionals,who usually don't have the time for a sit-down meal,prefer to grab a bite on the go;even when it means indulging in unhealthy food habits.This is an example of _____ influence on consumer behavior.

Accepted Answer

A) tangential 
B) internal 
C) situational 
D) intellectual 
E) personal 
A) tangential 
B) internal 
C) situational 
D) intellectual 
E) personal

Question 5

Consumer segments exist because different consumers do not value different alternatives the same way.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following terms refers to a personal assessment of the net worth a consumer obtains from an activity?

Accepted Answer

A) Quality 
B) Experience 
C) Prestige 
D) Value 
E) Effort 
A) Quality 
B) Experience 
C) Prestige 
D) Value 
E) Effort

Question 7

Which of the following is at the heart of the consumer value framework and the focus of marketing efforts?

Accepted Answer

A) Utilitarian and hedonic values 
B) Personal values 
C) Consumer perception 
D) Environment 
E) Cultural values 
A) Utilitarian and hedonic values 
B) Personal values 
C) Consumer perception 
D) Environment 
E) Cultural values

Question 8

The approximate worth of a customer to a company in economic terms is known as the _____.

Accepted Answer

A) net present value (NPV) 
B) customer lifetime value (CLV) 
C) customer present value (CPV) 
D) customer future value (CFV) 
E) total customer value (TCV) 
A) net present value (NPV) 
B) customer lifetime value (CLV) 
C) customer present value (CPV) 
D) customer future value (CFV) 
E) total customer value (TCV)

Question 9

A basic _____ premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

Accepted Answer

A) Consumer Behavior Framework 
B) Customer Relationship Management 
C) Marketing Consumer Framework 
D) Relationship Quality Management 
E) Consumption Process Framework 
A) Consumer Behavior Framework 
B) Customer Relationship Management 
C) Marketing Consumer Framework 
D) Relationship Quality Management 
E) Consumption Process Framework

Question 10

Superfocus Scenario
Superfocus is a revolutionary concept in eyeglasses--it even received a 2010 The Wall Street Journal innovation award. It is a type of eyeglass that allows the wearer to change correction without changing glasses, or having to look through a certain part of the lens like bifocal and progressive lens wearers must do. The round lenses are actually two lenses with a clear fluid in-between. The outer lens is hard, while the inner lens is flexible. There's a little slider on the bridge that, when moved, pushes the fluid and changes the shape of the inner, flexible lens. That, in turn, changes the correction, so a user can see near, far, and everything in-between just by changing the position of the slider. The only catch is that the lenses have to be perfectly round and the frames need to be made out of stainless steel or titanium aluminum. This limits the frame style and color choices for consumers.
Superfocus can be purchased through eye care professionals or directly from the manufacturer online. The company has recently started using direct-response television advertising to drive traffic to the website so consumers can learn more about this product and sign up for a free trial offer. With prices starting at $700 a pair, the free trial might help overcome some resistance due to the relatively high price.
-Refer to Superfocus Scenario.The advertising,distribution through the website and eye care providers,the price,and the free trial offer are examples of Superfocus's _____.

Accepted Answer

A) marketing tactics 
B) corporate strategy 
C) company mission 
D) value proposition 
E) product differentiation 
A) marketing tactics 
B) corporate strategy 
C) company mission 
D) value proposition 
E) product differentiation

Question 11

A corporate strategy is the way a company goes about creating value for customers.

Accepted Answer

A) True 
 B)False

Question 12

One conceptual difference between utilitarian value and hedonic value is that utilitarian value is an end in and of itself rather than a means to an end.

Accepted Answer

A) True 
 B)False

Question 13

According to which of the following orientations,each customer represents a potential stream of resources rather than just a single sale?

Accepted Answer

A) Product orientation 
B) CVF orientation 
C) Hedonic orientation 
D) CRM orientation 
E) Utilitarian orientation 
A) Product orientation 
B) CVF orientation 
C) Hedonic orientation 
D) CRM orientation 
E) Utilitarian orientation

Question 14

A strategy is a planned way of doing something to accomplish some goal.

Accepted Answer

A) True 
 B)False

Question 15

The market for any product is the sum of the demand existing in individual groups or segments of consumers.

Accepted Answer

A) True 
 B)False

Question 16

Marketing tactics include price,promotion,product,and distribution decisions.

Accepted Answer

A) True 
 B)False

Question 17

FAST FOOD SCENARIO
Daniel, an entrepreneur, is planning to open a fast-food restaurant. He wants to cash in on the huge population of busy professionals who usually don't have the time for a sit-down meal. They prefer instead to grab a bite on the go. Daniel has done his fair share of research, and he found that though fast-food restaurants cater to the need for a quick bite, consumers feel guilty of indulging in what they thought was "unhealthy." Daniel conceptualized a place that will offer a quick bite as a healthy alternative, so consumers would not have to suffer from guilt. Daniel is looking at establishing a long-term relationship based on trust with his customers.
-Refer to Fast Food Scenario.Daniel conceptualized a place that will offer a quick bite as a healthy alternative,so consumers would not have to suffer from guilt.In doing so,Daniel is offering _____ value to his customers.

Accepted Answer

A) augmented 
B) utilitarian 
C) hedonic 
D) temporal 
E) tangential 
A) augmented 
B) utilitarian 
C) hedonic 
D) temporal 
E) tangential

Question 18

Customer lifetime value includes the net present value of the stream of profits over a customer's lifetime and _____.

Accepted Answer

A) the costs associated with satisfying that customer 
B) the costs associated with keeping that customer for more than 10 years 
C) the retention rate for all customers 
D) opportunity cost saved from having loyal customers 
E) the worth attributed to the equity a good customer can bring 
A) the costs associated with satisfying that customer 
B) the costs associated with keeping that customer for more than 10 years 
C) the retention rate for all customers 
D) opportunity cost saved from having loyal customers 
E) the worth attributed to the equity a good customer can bring

Question 19

Which of the following environments includes the people and groups who help shape a consumer's everyday experiences?

Accepted Answer

A) Emotional environment 
B) Internal environment 
C) Social environment 
D) Macro environment 
E) Micro environment 
A) Emotional environment 
B) Internal environment 
C) Social environment 
D) Macro environment 
E) Micro environment

Question 20

Which of the following terms refers to the way a company goes about creating value for its customers?

Accepted Answer

A) Schema 
B) Marketing strategy 
C) Social inclusion 
D) Blueprint 
E) Focus 
A) Schema 
B) Marketing strategy 
C) Social inclusion 
D) Blueprint 
E) Focus

Which of the following is a negative consequence of consumption?

Explain why marketing plays an important strategic role in an organization and describe where marketing strategy fits in the bigger organization.

A product with backward sloping demand displays _____.

Consumer segments exist because different consumers do not value different alternatives the same way.

Which of the following terms refers to a personal assessment of the net worth a consumer obtains from an activity?

Which of the following is at the heart of the consumer value framework and the focus of marketing efforts?

The approximate worth of a customer to a company in economic terms is known as the _____.

A basic _____ premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

A corporate strategy is the way a company goes about creating value for customers.

One conceptual difference between utilitarian value and hedonic value is that utilitarian value is an end in and of itself rather than a means to an end.

According to which of the following orientations,each customer represents a potential stream of resources rather than just a single sale?

A strategy is a planned way of doing something to accomplish some goal.

The market for any product is the sum of the demand existing in individual groups or segments of consumers.

Marketing tactics include price,promotion,product,and distribution decisions.

Customer lifetime value includes the net present value of the stream of profits over a customer's lifetime and _____.

Which of the following environments includes the people and groups who help shape a consumer's everyday experiences?

Which of the following terms refers to the way a company goes about creating value for its customers?

What Is Cb and Why Should I Care

Consumer Learning Starts Here: Perception

Comprehension,memory,and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality,lifestyles,and the Self-Concept

Attitudes and Attitude Change

Group and Interpersonal Influence

Consumer Culture

Microcultures

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making Ii: Alternative Evaluation and Choice

Consumption to Satisfaction

Consumer Relationships

Consumer and Marketing Misbehavior

Filters

Exam 2: Value and the Consumer Behavior Value Framework

Which of the following is a negative consequence of consumption?

Explain why marketing plays an important strategic role in an organization and describe where marketing strategy fits in the bigger organization.

A product with backward sloping demand displays _____.

Consumer segments exist because different consumers do not value different alternatives the same way.

Which of the following terms refers to a personal assessment of the net worth a consumer obtains from an activity?

Which of the following is at the heart of the consumer value framework and the focus of marketing efforts?

The approximate worth of a customer to a company in economic terms is known as the _____.

A basic _____ premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.

A corporate strategy is the way a company goes about creating value for customers.

One conceptual difference between utilitarian value and hedonic value is that utilitarian value is an end in and of itself rather than a means to an end.

According to which of the following orientations,each customer represents a potential stream of resources rather than just a single sale?

A strategy is a planned way of doing something to accomplish some goal.

The market for any product is the sum of the demand existing in individual groups or segments of consumers.

Marketing tactics include price,promotion,product,and distribution decisions.

Customer lifetime value includes the net present value of the stream of profits over a customer's lifetime and _____.

Which of the following environments includes the people and groups who help shape a consumer's everyday experiences?

Which of the following terms refers to the way a company goes about creating value for its customers?

What Is Cb and Why Should I Care

Consumer Learning Starts Here: Perception

Comprehension,memory,and Cognitive Learning

Motivation and Emotion: Driving Consumer Behavior

Personality,lifestyles,and the Self-Concept

Attitudes and Attitude Change

Group and Interpersonal Influence

Consumer Culture

Microcultures

Consumers in Situations

Decision Making I: Need Recognition and Search

Decision Making Ii: Alternative Evaluation and Choice

Consumption to Satisfaction

Consumer Relationships

Consumer and Marketing Misbehavior

Filters