CB Final Study Guide

A consumer looking for a particular color while buying a dress is concerned with the underlying attribute of the dress
False
A company embracing differentiated marketing will ___.
Serve multiple market segments each with a unique product offering
According to the customer relationship management orientation
customers form relationships with companies as opposed to companies conducting individual transactions with customers
Alternatives that are deemed to be unacceptable for further consideration in decision making comprise a consumer’s inert set
False -inEPT set
A loyalty card/program is a device that keeps track of the amount of purchasing a consumer has had with a given marketer and once some level is reached, a reward is offered usually in terms of future purchase incentives.
True
A self-ascribed event occurs when a consumer blames himself or herself for a bad event.
True
A few customers at China Palace, a Chinese restaurant, recently suffered from food poisoning and were admitted in the hospital. One of these customers was so angry that he tried to burn the restaurant down a week later after the food-poisoning incident. This disgruntled customer was engaged in _____ revenge.
Retalitary
A consumer is considered loyal if she simply buys the same product habitually.
False
Attribute correlation of different features of a product or a service is always positive.
False
Conjoint analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives.
True
A market researcher was contacted by a travel firm to assess consumer satisfaction on the travel services provided by the firm. The researcher collected feedback from customers by distributing questionnaires. The questionnaire consisted of ten questions and each question had five options ranging from completely dissatisfied to completely satisfied. One such question from the questionnaire is as follows: How satisfied were you with the accommodation arrangements?
attribute-specific
Carla was unhappy with her haircut. The next time she wanted a haircut, she went to a different hairstylist who Carla thought was more competent than her previous stylist. From a consumer behavior perspective, which of the following terms best describe Carla’s behavior?
Switching
Andrea purchased an Apple iPad and an extended warranty. She also purchased a gaming application specially developed for Apple iPad. The application purchased by Andrea, is an example of a(n) _____ product.
Augmented
Brand loyalty has an impact on the value of the brand to the firm.
True
Consumers engage in extended decision making when they put off the decision making for a later time and restrain themselves from getting involved with the product in consideration.
False
Any packaging that is no longer necessary for consumption to take place is referred to as consumer _____.
Refuse
Consumers who will do everything possible to avoid doing business with a particular marketer are called _____.
Antiloyal consumers
A feature is a performance characteristic of an object.
True
A consumer with low satisfaction exhibits much more noticeable and persistent behavior than does an angry consumer.
False
A market researcher focuses on the psychological process, including thoughts, feelings, and behavior that people experience once they realize that they have an unmet need. The human behavior that constitutes this set of value-seeking activities that the researcher is examining is best described as _____.
Consumer Behavior
A consumer who disliked the color of a bag, but bought it as it was sturdy, has employed a noncompensatory rule when he/she chose the bag.
False
A benefit is a perceived favorable result that is derived from the presence of a particular feature.
True
A characteristic that allows a consumer to diagnose something distinctive about an alternative is also known as a _____.
Signal
A sense of attachment, dedication, and identification with a brand or service provider is known as customer _____.
Commitment
Consumers who are very sensitive to the negative role of price tend to be very bargain conscious.
True
Customers who believe a firm has adequately responded to some negative critical incident are likely to become more loyal.
True
Advertisements that feature special promotions, such as buy-one-get-one-free offers, represent a marketing strategy that makes use of _____ because these advertisements essentially signal that customers will get value in some form of a reward when they perform a specific purchasing activity.
Discriinative Stimuli
A basic _____ premise is that customers form relationships with companies as opposed to companies conducting individual transactions with customers.
Customer Relationship Management
Refer to Dissatisfied Customer Scenario. How would Meg’s complaint benefit the salon?
Meg’s complaint will be a valuable source of information for the salon
Competitive intensity refers to the number of firms competing for business within a specific category
True
A healthy relationship between a consumer and a marketer enhances value both for the consumer and the marketer.
True
A _____ orientation apart from understanding customers, stresses the need to monitor and understand competitor actions in the marketplace and the need to communicate information about customers and competitors throughout the organization.
Market
A firm is likely to be most vulnerable to customers’ switching behavior when:
it’s customers are dissatisfied, the switching costs are low, and the firm operates in a business environment with high competitive intensity.
According to the expectancy/disconfirmation theory, when performance perceptions do not meet expectations, _____ occurs.
negative disconfirmation
Certain characteristics of an automobile, such as a navigation system, automatic gear change system, and safety air bags, that are relevant to how it functions or operates, are examples of the automobile’s _____.
features
An automobile marketer is interested in studying the internal influences that affect the psychology of the potential buyers of luxury automobiles. Which of the following would this marketer be interested in studying?
Buyer’s attitudes towards different brands
A planned way of doing something is known as ____
A strategy
A performance characteristic of an object is known as its _____
feature
A consumer who initiates the decision-making process always completes the process.
False
All dissatisfied customers are complainers.
False
A consumer research study analyzes the factors, such as age, income, and stage of family life cycle, predicting a consumer’s likelihood to purchase a 3-D television. Data were collected from 3,000 consumers using a structured questionnaire. Which type of research does this represent?
quantitative
A consumer chooses a competing choice, rather than a previously purchased choice, on the next purchase occasion. This behavior is called _____.
switching
Refer to Coffee-Maker Scenario. Jane deliberately left out Real and Fresh Coffeez, even though it was believed to be a good brand as she had a bad experience with one of its products. For Jane, Real and Fresh Coffeez corresponds to the _____ set of alternatives in her awareness set.
inept
A state implemented a much needed hike in gasoline prices, increasing it by $2. This was followed by a public outcry against the price rise. A year later, the state further increased gasoline prices by half a dollar. This time round, the public accepted it as essential even though there was a general murmur of dissatisfaction. Which of the following will best explain the reason for the public’s acceptance?
Weber’s Law
Customer share is sometimes referred to as share of _____.
wallet