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Exam 6: Analyzing Consumer Markets

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Question 51

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According to the research conducted by Jennifer Aaker, one of the five traits of a product's brand personality is its physical structure.

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Question 52

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IKEA has achieved global recognition by offering consumers leading-edge Scandinavian furniture at affordable prices. IKEA is delivering value to consumers who are ________ constrained.

A) money
B) time
C) brand
D) value
E) self-concept

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Question 53

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The expectancy-value model of attitude formation posits that consumers evaluate products and services by combining their brand beliefs according to importance.

Mention the personal factors that can influence the decision of a buyer.

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

Jason writes a weekly column in his school's newspaper about movies he has seen, books he has read, and concerts he has attended. His column provides information and opinions. Feedback from his fellow students is positive, and they are appreciative of the advice that is given. Which of the following would be the most apt description of the role played by Jason?

Which of the following is considered to be a more advanced form of information search wherein the person might phone friends or go online to search for information about a product or service?

A(n) ________ group is one whose values or behavior an individual rejects.

If a direct-mail marketer wished to direct promotional efforts toward the family of ________, efforts need to be directed toward parents and siblings of the family members.

Gordon Jones is considering purchasing a computer from Best Buy. He has created a scale for rating eight different computers on three different characteristics. He plans to make a short list of only those computers that score at least a 7 on his scale on all three characteristics. Which of the following choice heuristics has he chosen?

Maria considers buying a car for herself, after she notices the advantages experienced by her best friend from his new car. Which of the following forms of stimulus has activated Maria's problem recognition process?

Brand personality is the specific mix of human traits that may be attributed to a particular brand.

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

Marketers embed covert messages in ads or packaging of which the consumers are not consciously aware, yet it affects their behavior. This technique employed by the marketers targets the ________ of a consumer.

The relatively homogeneous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior constitute a ________.

The family in a buyer's life consisting of parents and siblings is the ________.

With respect to a consumer buying situation that involves variety-seeking behavior, the market leader generally encourages variety seeking by offering lower prices or deals.

Selective retention works to the advantage of strong brands.

What is mental accounting? What, according to Thaler, are the core principles on which mental accounting is based? Explain with examples.

________ portrays the "whole person" interacting with his or her environment.