Marketing Exam: Analyzing The Marketing Enviornment! Trivia Quiz
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The centerpiece of the Marketing Environment Analysis Framework is:
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Green marketing.
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Corporate partners.
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Culture.
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Competitive intelligence.
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Consumers.
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Explore key aspects of analyzing the marketing environment in this trivia quiz. Assess your understanding of consumer behavior, macroenvironment factors, and strategic marketing responses. Ideal for learners aiming to enhance their marketing strategy skills.
- 2.
A firms macroenvironment includes all of the following EXCEPT:
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Competiton.
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Culture.
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Demographics.
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Economics.
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Political/legal.
Correct Answer
A. Competiton.Explanation
The firm's macroenvironment refers to the external factors that can impact its operations and success. These factors include culture, demographics, economics, and political/legal influences. However, competition is not considered a part of the macroenvironment, as it is an internal factor that the firm can control and manage. The firm's macroenvironment consists of external elements that are beyond its immediate control and can have a significant impact on its performance.Rate this question:
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- 3.
Jonathon is reviewing the latest Census Bureau report about changes in his geographic area. He learns about declining incomes, increases in two-job workers, and influx of new ethnic groups into his market area. These changes will influence:
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His firms marketing strategies.
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Green marketing.
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Country culture parameters.
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Competitive intelligence.
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Microenvironmental changes in scenario planning.
Correct Answer
A. His firms marketing strategies.Explanation
The changes in declining incomes, increases in two-job workers, and influx of new ethnic groups in Jonathon's market area will directly impact his firm's marketing strategies. Declining incomes may require the firm to adjust pricing or offer more affordable products. The increase in two-job workers may necessitate marketing efforts that target time-strapped individuals or emphasize convenience. The influx of new ethnic groups may require the firm to adapt its messaging and product offerings to cater to the preferences and needs of these groups. Overall, these changes in the market environment will influence how Jonathon's firm markets its products or services.Rate this question:
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- 4.
Yvonne knows her firm must look at everything they do from a consumers point of view. One of the difficulties is consumers _____________ change over time.
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Cultural remembrances
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Needs, wants, and ability to purchase
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Technological demographics
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Just-in-time consumption patterns
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Demographics
Correct Answer
A. Needs, wants, and ability to purchaseExplanation
Consumers' needs, wants, and ability to purchase change over time. This means that Yvonne's firm needs to constantly evaluate and understand the evolving preferences, desires, and purchasing power of their target audience. By considering these factors, the firm can adapt its products, services, and marketing strategies to meet the changing demands of consumers and stay competitive in the market.Rate this question:
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- 5.
By monitoring their macroenvironment, firms can determine how such factors influence consumers and how they should respond to them. Marketing opportunities exist for firms that can:
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Avoid having to engage in macroenvironmental monitoring.
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Successfully engage in post-marketing scenario planning.
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Anticipate changes in the macroenvironment.
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Identify who are the offspring of Tweens.
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Divide regional cultural cohorts into country simulation groups.
Correct Answer
A. Anticipate changes in the macroenvironment.Explanation
By monitoring the macroenvironment, firms can stay ahead of changes and trends that may affect their consumers. This allows them to anticipate these changes and adapt their marketing strategies accordingly. By doing so, firms can identify new opportunities and develop effective plans to respond to these changes, ultimately leading to success in the market.Rate this question:
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- 6.
The Mayo Clinic in Minnesota is known for top-quality medical care. For decades, even presidents and dictators from around the world flew to the Mayo Clinic to utilize their services. Mayo Clinic used their reputation to create additional medical facilities in Jacksonville, Florida and elsewhere. This is an example of a firm focusing its efforts on satisfying customer needs that:
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Are easiest to satisfy.
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Provide minimum core value.
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Offer generation cohort harmony.
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Competitive intelligence has identified.
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Match their core competencies.
Correct Answer
A. Match their core competencies.Explanation
The given scenario describes how the Mayo Clinic expanded its medical facilities in different locations based on its reputation for top-quality medical care. By doing so, they are focusing their efforts on satisfying customer needs that align with their core competencies, which is providing high-quality medical care. This decision is based on their expertise and capabilities in delivering exceptional medical services, making it the most suitable explanation for the given answer.Rate this question:
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- 7.
Yuri is considering a new promotional campaign, comparing his products to those of his competitors. Before initiating the promotional campaign, Yuri will likely assess his competitors strengths, weaknesses, and:
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Likely reaction to Yuri's promotional activities.
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Cultural cohort.
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The political/legal environment affecting just-in-time promotional delivery.
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Satisfaction quotient as perceived by customers.
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Situational ethical values.
Correct Answer
A. Likely reaction to Yuri's promotional activities.Explanation
Before initiating a new promotional campaign, it is important for Yuri to assess his competitors' strengths, weaknesses, and likely reaction to his promotional activities. This is because understanding how his competitors might respond to his campaign can help him anticipate their actions and adjust his strategies accordingly. By considering their likely reaction, Yuri can better position his products and tailor his promotional activities to gain a competitive advantage in the market. Assessing competitors' likely reaction is a crucial step in developing an effective promotional campaign that can effectively differentiate Yuri's products from those of his competitors.Rate this question:
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- 8.
Trey's job is to survey personnel, customers, and corporate partners regarding what other firms in the market are doing. He also reads industry magazines and conducts online searches, gathering any synthesizing information about everyone in the business. Try is engaged in:
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Demographic data.
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Intuitive diagnostics.
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Regional regression analysis.
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Macroeconomic variabel analysis.
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Competitive intelligence.
Correct Answer
A. Competitive intelligence.Explanation
Trey's job involves gathering information about what other firms in the market are doing by surveying personnel, customers, and corporate partners, as well as reading industry magazines and conducting online searches. This process of collecting and synthesizing information about everyone in the business is known as competitive intelligence. Competitive intelligence helps organizations understand their competitors' strategies, strengths, weaknesses, and market trends, allowing them to make informed decisions and stay competitive in the market.Rate this question:
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- 9.
Firms that provide materials, transportation, advertising, accounting and other goods and services, helping a firm create value for its customer are called:
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Competitive intelligence.
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Corporate partners.
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Cultural monitors.
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The macroeconomic environment.
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Customers.
Correct Answer
A. Corporate partners.Explanation
Firms that provide materials, transportation, advertising, accounting, and other goods and services to help a firm create value for its customers are referred to as corporate partners. These partners collaborate with the firm to enhance its operations and contribute to its overall success. They play a crucial role in supporting the firm's activities and helping it meet its customers' needs effectively.Rate this question:
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- 10.
The shared meanings, beliefs, morals, values, and customs of a group of people are their:
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Social concerns.
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Culture.
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Demographics.
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Generational cohort.
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Aesthetics.
Correct Answer
A. Culture.Explanation
Culture refers to the shared meanings, beliefs, morals, values, and customs of a group of people. It encompasses the way of life, traditions, and behaviors that are passed down from one generation to another. Social concerns may be a part of culture, but they do not encompass the entirety of it. Demographics refers to statistical data about a population, while generational cohort refers to people born in the same time period. Aesthetics refers to the appreciation of beauty and art. Therefore, the correct answer is culture.Rate this question:
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- 11.
When marketers look at advertising media they often being with the viewer or listener profiles such as, age, income, gender, and race. They then compare the media profile with their target audience. These marketers are using __________ to see if the media "fits" with their advertising agenda.
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Country culture.
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Regional culture.
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Demographics.
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Macromarketing measures.
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Scenario planning.
Correct Answer
A. Demographics.Explanation
Marketers use demographics to compare the viewer or listener profiles of advertising media with their target audience. Demographics refer to characteristics such as age, income, gender, and race, which help marketers understand their target audience better. By analyzing demographics, marketers can determine if the media "fits" with their advertising agenda and whether it will effectively reach their desired demographic.Rate this question:
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- 12.
Improved computer storage capabilities, and the manipulation of consumer information has increased customers:
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Access to competitive intelligence.
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Privacy concerns.
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Cultural awareness.
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Green marketing preferences.
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Technological cohort.
Correct Answer
A. Privacy concerns.Explanation
The improved computer storage capabilities and the manipulation of consumer information have made customers more aware of the potential privacy risks associated with their personal data. This has led to an increase in privacy concerns among customers, as they become more cautious about how their information is used and shared.Rate this question:
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- 13.
Many American consumers are purchasing hybrid automobiles even thought they are more expensive and sometimes less fuel efficient when compared to compact conventional autos. Automobile marketers recognize these consumers:
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Value contributing to a greener environment.
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Are economically irrational.
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Are responding to global corporate pressure for social responsibility.
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Would prefer an SUV.
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Are extremely price sensitive.
Correct Answer
A. Value contributing to a greener environment.Explanation
The correct answer is "value contributing to a greener environment." This is because the statement suggests that American consumers are willing to pay more for hybrid automobiles despite their higher cost and potentially lower fuel efficiency. This indicates that these consumers prioritize the environmental benefits of hybrid cars, such as reduced emissions and energy conservation. They are likely motivated by a desire to contribute to a greener environment and support sustainable practices in the automotive industry.Rate this question:
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- 14.
Marketers often use principals and theories from ____________ and ______________ to decipher many consumer actions and develop basic strategies for dealing with their behavior.
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Physics; chemistry
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History; archeology
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Sociology; psychology
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Art; romance novels
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English; mathematics
Correct Answer
A. Sociology; psychologyExplanation
Marketers often use principals and theories from sociology and psychology to decipher many consumer actions and develop basic strategies for dealing with their behavior. Sociology helps marketers understand how individuals are influenced by social factors such as culture, social class, and reference groups, while psychology helps them understand consumer motivations, perceptions, attitudes, and decision-making processes. By combining insights from both disciplines, marketers can gain a deeper understanding of consumer behavior and tailor their strategies accordingly.Rate this question:
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- 15.
To understand consumer behavior, marketers need to ascertain:
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The meaning of life.
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The difference between shopping and sensitivity goods.
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Noncompensatory indecision rules.
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Why people buy products or services.
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The universal set of evoked goods valued by all consumers.
Correct Answer
A. Why people buy products or services.Explanation
To understand consumer behavior, marketers need to ascertain why people buy products or services. This is because understanding the motivations and decision-making processes behind consumer purchases is crucial for developing effective marketing strategies. By understanding why people make certain buying choices, marketers can tailor their products, messaging, and advertising campaigns to better meet consumer needs and preferences. This knowledge helps in identifying target markets, creating compelling value propositions, and ultimately driving sales and profitability.Rate this question:
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- 16.
Generally, people buy one product or service instead of another because they:
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They get the lowest price possible.
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Perceive it to be the better value for them.
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Avoid having to do extended problem solving.
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Conducted a thorough internal search for information.
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Assessed the determinant attributes and found them favorable.
Correct Answer
A. Perceive it to be the better value for them.Explanation
People generally buy one product or service instead of another because they perceive it to be the better value for them. This means that they believe the product or service offers more benefits or advantages compared to the alternatives. It could be based on factors such as quality, features, functionality, durability, reputation, or brand loyalty. The perception of better value is subjective and varies from person to person based on their individual needs, preferences, and priorities.Rate this question:
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- 17.
The consumer decision process model represents:
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The concept of habitual decision making.
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The retrieval of an evoked set based on physiological needs.
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The steps that consumers go through before, during, and after making a purchase.
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The predicted process consumers go through when shifting from an internal locus of control to an external locus of control.
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The decisions all consumers must make.
Correct Answer
A. The steps that consumers go through before, during, and after making a purchase.Explanation
The consumer decision process model represents the steps that consumers go through before, during, and after making a purchase. This model outlines the various stages that individuals go through when making a buying decision, including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. It provides a framework for understanding consumer behavior and helps marketers identify opportunities to influence and guide consumers throughout the decision-making process.Rate this question:
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- 18.
Upscale men's and women;s clothing store primarily appeal to a consumers' ___________ needs.
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Functional.
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Postpurchase.
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Safety.
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Psychological.
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Situational.
Correct Answer
A. Psychological.Explanation
An upscale men's and women's clothing store primarily appeals to a consumer's psychological needs. This is because upscale clothing stores often focus on providing high-quality, fashionable items that cater to the desires of consumers to feel confident, stylish, and prestigious. The store's offerings are designed to fulfill psychological needs such as self-expression, social status, and personal satisfaction, rather than functional or safety needs. Postpurchase needs refer to the consumer's needs after making a purchase, and situational needs are specific to the circumstances or context in which the purchase is made.Rate this question:
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- 19.
When Kelly began searching for a new car to replace her "clunker", she probably would rely on ____________ sources of information.
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Interpersonal and sensual
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Compensatory and noncompensatory
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Ritual and spiritual
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Specialty and ordinary
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Internal and external
Correct Answer
A. Internal and externalExplanation
When Kelly began searching for a new car, she would most likely rely on both internal and external sources of information. Internal sources refer to her own personal preferences, needs, and past experiences with cars. This could include her own knowledge of what features she wants in a car and what brands she trusts. External sources, on the other hand, would involve seeking information from outside her own personal knowledge. This could include reading reviews, asking friends and family for recommendations, or researching online to gather information about different car models, prices, and dealerships. By considering both internal and external sources, Kelly can make a more informed decision about which car to choose.Rate this question:
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- 20.
Every year, before he puts his boat in the water, James has his mechanic put a new battery in the boat. James is probably most concerned with _____________ risk.
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Psychological
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Financial
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Performance
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Cultural
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Ritual
Correct Answer
A. PerformanceExplanation
James is most likely concerned with performance risk because he wants to ensure that his boat operates efficiently and effectively on the water. By putting a new battery in the boat every year, he is taking proactive measures to minimize the risk of any performance issues or breakdowns while he is out on the water. This shows that James prioritizes the performance of his boat and wants to avoid any potential problems that could arise from using an old or unreliable battery.Rate this question:
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- 21.
Every year, Wall Street Journal technology reporter, Walter Mossberg, provides a set of guidelines for readers considering the purchase of a new personal computer. His guidelines include features, memory capacity, amenities, and a host of attributes he recommends consumers include in their purchase decision. Walter provides consumers with:
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Retrieval data.
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Psychological needs
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Social concerns.
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Evaluative criteria.
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Technological information search drivers.
Correct Answer
A. Evaluative criteria.Explanation
The correct answer is evaluative criteria. Walter Mossberg provides consumers with a set of guidelines that include features, memory capacity, amenities, and other attributes to consider when purchasing a new personal computer. These guidelines serve as evaluative criteria for consumers to assess and compare different options before making a purchase decision. By providing these criteria, Mossberg helps consumers evaluate the different aspects of a personal computer and make an informed choice.Rate this question:
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- 22.
Andrea and Karl got married a year ago and are ready to move out of their apartment and into a new home. After looking at a lot of model homes, they have developed a list of features that are important to them and that they have observed are different among the builders they've visited. Marketers need to be aware of this kind of list as a crucial shortcut to decision-making and call these:
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An evoked set
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Determinant attributes
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"short lists"
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Reasonable alternative factors
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Trade-off elements
Correct Answer
A. Determinant attributes -
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A __________ is a need or want that is strong enough to cause the person to seek satisfaction.
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Price
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Motive
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Attitude
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Perception
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Learning curve
Correct Answer
A. MotiveExplanation
A motive is a need or want that is strong enough to cause a person to seek satisfaction. It is the driving force behind an individual's actions and behaviors. Motives can vary from person to person and can be influenced by various factors such as personal desires, goals, values, and external stimuli. Motives play a crucial role in shaping human behavior and decision-making processes.Rate this question:
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- 24.
Carla is facing a decision on which college to attend. This is the most important, riskiest and more expensive decision she has ever made. She will engage in _______________.
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Low involvement decision making.
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Extended problem solving.
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Educational heuristics.
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Pre-purcahse dissonance.
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Extensive internal searches for information as she considers what to do.
Correct Answer
A. Extended problem solving.Explanation
Carla's decision on which college to attend is described as the most important, riskiest, and expensive decision she has ever made. This indicates that she is highly involved in the decision-making process and is likely to engage in extensive internal searches for information as she considers what to do. This aligns with the concept of extended problem solving, where individuals invest significant time and effort in gathering information and evaluating alternatives before making a decision.Rate this question:
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Sep 03, 2024Quiz Edited by
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May 02, 2012Quiz Created by
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