Economics

1. Janeek and Tom have invited friends to their house to watch the Super Bowl with them. They have been online looking at televisions, and they are now at Best Buy, an electronics company, talking with salespeople about HD televisions. Janeek and Tom are in what stage of the extensive problem-solving decision process?

a. Awareness

b. Problem/Need recognition

c. Search

d. Evaluation of alternatives

e. Purchase

2. Consumer behavior draws on a number of different disciplines, including _____, which looks at how consumers’ efforts to make rational consumption decisions may affect consumer behavior.

a. Economics

b. Psychology

c. Social psychology

d. Sociology

e. Anthropology

Questions 3 and 4 are based on the information in the table below. The table below contains information related to a consumer decision to purchase a new car. The consumer is not willing to accept any car that scores less than a 6 on any attribute. The consumer’s most important attribute is residual (resale) value, and attributes are listed in order of importance.

Attribute/Brand

Car 1

Car 2

Car 3:

Car 4:

1. Residual (Resale) value

9

8

9

8

2. Brand reputation

7

9

10

10

3. Price & Financing

4

3

6

10

4. Technology included

6

9

10

4

3. Which car will the consumer choose if a conjunctive decision rule is used?

a. Car 1

b. Car 2

c. Car 3

d. Car 4

e. We cannot tell, as we do not know the brand names.

4. Which car will the consumer choose if a lexicographic decision rule is used?

a. Car 1

b. Car 2

c. Car 3

d. Car 4

e. We cannot tell, as we do not know the brand names.

5. A recent article “ buybuy Baby welcomes new parents with omnichannel initiative” informs readers that the specialty baby retailer buybuy Baby is providing omnichannel support to new parents, by expanding resources in stores and online for new parents through an initiative called “Welcome to Parenthood.” Based only on this information, we can conclude that buybuy Baby has segmented its market primarily on the basis of this variable.

a. Psychographics

b. Geography

c. Psychology

d. Behavior

e. Demographics

6. Matt’s Mobile Services has designed a cell phone plan especially for tech-savvy teens who are heavy cell-phone users and live in households earning over $150,000 per year. In tailoring the plan for a specific group of consumers based on their particular needs, Matt’s Mobile Services has provided an example of ________.

a. societal marketing

b. targeting

c. retargeting

d. the selling orientation

e. positioning

7. According to the article Wall Street Vet Aims to Disrupt the Plant-Based Category, “Weiss says Honeybee was chosen by multiple well-known brands—and others not so known yet—to carry their plant-based products.” To what aspect of Honeybee’s marketing strategy does this information relate?

a. Product strategy

b. Customer service

c. Pricing strategy

d. Distribution strategy

e. All of the above are possible.

8. Delta Airlines targets four distinct segments: coach passengers, premium economy passengers, business class, and first-class passengers. The airline targets each segment separately with a marketing mix tailored to each segment. This is an illustration of this targeting strategy.

a. Mass marketing

b. Differentiated targeting/marketing

c. Behavioral targeting

d. Concentrated targeting/marketing

e. Segmentation

9. When it comes to segmentation, Claritas PRIZM is a service that provides information that can be used for ______ segmentation, where the segments reveal that ‘Birds of a feather flock together.’

a. geo-demographic

b. psychographic

c. benefits

d. use-situation

e. behavioral

10. A recent commercial for a leading workout program told consumers that the brand in the ad was for men and women in the United States who want to experience the energy and vitality that result from the program. Based on this information, the marketer of the brand is targeting consumers based on these kinds of segmentation.

a. demographics and psychographics

b. usage situation and demographics

c. usage rate and geography

d. geo-demographics and benefits sought

e. behavioral and geography

11. According to a recent article about a survey about snacking behavior that was done among Canadian consumers, participants in the snacking study were “1,959 Internet users aged 18+ who have eaten better-for-you snacks in the past 3 months leading up to July 2018.” These 1,959 consumers represent ___.

a. A sample used for the study

b. The population of interest for the study

c. People who were referred to the researchers carrying out the study

d. Non-Canadians who responded on behalf of Canadians

e. Canadians who were shopping online for snacks

12. Amazon.com is developing new brick-and-mortar stores and using television and radio, in addition to the Internet, to communicate with consumers. When it comes to the criteria for effective targeting, Amazon.com is taking into account this criterion for effective targeting of market segments.

a. Identification: You should have some way of deciding who falls into what segment.

b. Sufficiency: Segments should be large enough to make segmentation worthwhile.

c. Stability: Segments should not be constantly changing.

d. Accessibility: Marketers should be able to reach segments once they have identified them.

e. Congruency: Segmentation should be consistent with the company’s objectives or resources.

13. According to a recent article on US consumers’ pet food and treats purchase, PetSmart asked UToledo students to stand outside its stores and ask customers for their receipts. The students would then record what purchases the customers made. This kind of observational study is best described as ______.

a. Participant observation

b. Direct observation

c. Indirect observation

d. Mechanical observation

e. Projective technique

14. The following is information from a commercial for a leading brand of air freshener: “New Febreze with OdorClear technology…When you want to rid your place of odors.” Based on this information, what segmentation strategy has been used by the marketer for this product?

a. demographic

b. sociocultural

c. psychological

d. usage situation

e. scent-based

15. Which of the following social sciences BEST helps consumer behavior scholars to understand the consumption behavior of individual consumers and how factors such as personality, attitudes, and motivation influence their behavior?

a. anthropology

b. social psychology

c. psychology

d. economics

e. sociology

16. Which of the following is not an example of an event with which a major US brand could associate itself through different strategic marketing actions?

a. The Super Bowl

b. Halloween

c. Breakfast

d. Spring Break

e. All the above are examples of events with which a major US brand could associate itself.

17. Mary is thinking of purchasing her first car. She decides that she will not purchase a car if the interest rate on the car note is above 4%, regardless of how attractive other features of the car are. This information suggests that, when it comes to purchasing a car, Mary will use a/an ________.

a. non-compensatory decision rule

b. affect referral decision rule

c. compensatory decision rule

d. effective decision rule

e. cognitive decision rule

18. Jane decides to purchase herself a television set as a gift for Christmas. In terms of gift-giving relationships, this is an example of _____ gift-giving.

a. inter-group

b. intra-personal

c. intra-group

d. inter-personal

e. inter-category

19. The article Sam’s Club removes friction from buying tires , which describes a new employee app designed to dramatically cut the time it takes Sam’s Club customers to purchase a set of tires, was used to illustrate this issue.

a. Situational influences on consumer behavior

b. The role of consumer research in product development

c. The role of observation in deciding the services consumers want

d. Consumer use of different attributes (and decision rules) in product selection

e. The use of different segmentation bases in marketing strategy

20. The following figure reports results from a survey on ‘leading pain points’ for consumers when they shop in-store.

What type of question did the researchers ask to obtain the information reported in the figure?

a. Multiple choice-one option

b. Multiple choice-multiple options

c. Likert scale

d. Open-ended

e. All of the above are possible.

21. The following figure reports results from a survey on ‘leading pain points’ for consumers when they shop in-store.

The fact that the researchers report the information in the figure in this way means that the research method used was ____.

a. Qualitative

b. Closed-ended

c. Open-ended

d. Observational

e. Quantitative

22. Tom and Marita are purchasing new laptop computers because the electronics store at which they were purchasing was offering a trade-in for their old computers. When it comes to the impact of situational influences on consumer behavior, Tom and Marita’s purchase represents this type of consumer situation.

a. Consumer behavior situation

b. Purchase situation

c. Communication situation

d. Usage/consumption situation

e. Disposition situation

23. When Tom and Marita went to Best Buy to purchase their laptop computers, there were some other University of Toledo students there who told them about their experiences with purchasing computers at Best Buy. When it comes to the different consumer situations, this interaction between Tom and Marita and the other University of Toledo students represents this.

a. Consumer behavior situation

b. Purchase situation

c. Communication situation

d. Usage/consumption situation

e. Disposition situation

24. We can link situational influences on consumer behavior to all areas of marketing strategy EXCEPT

a. Positioning and repositioning

b. Product development

c. Marketing segmentation

d. Distribution strategy

e. We can link situational influences on consumer behavior to all the above areas of marketing

strategy.

25. In a brick-and-mortar retail store, the point-of-purchase displays in the store; lighting; music; décor; and merchandise layout are examples of this characteristic of consumer situations.

a. Physical surroundings

b. Social surroundings

c. Purchase situation

d. Communication situation

e. Antecedent states

26. This characteristic of consumer situations relates to the fact that if consumers go shopping when they are hungry, thirsty, agitated, or tired, this can influence their consumption decisions.

a. Physical surroundings

b. Social surroundings

c. Purchase situation

d. Communication situation

e. Antecedent states

27. Which of the following statements related to questions on a questionnaire is FALSE?

a. A closed-ended question provides response options from which participants in a research study can pick a response.

b. A Likert scale asks consumers to rate their levels of agreement with a statement; their

likelihood of doing something; and their frequency of doing something.

c. A screening question is used at the end of a survey to determine whether the data provided

by the respondents should be used.

d. A rating scale can be used to get feedback on consumers’ attitudes.

e. If a consumer is asked to place a list of restaurants in order of preference for dining, this

would be an example of a ranking question.

28. Kraft Heinz conducted a consumer research study prior to the release of a new product called KetchupToo. For this study, it carried out qualitative research. Which of the following research methods would Kraft Heinz therefore NOT have used?

a. focus group

b. interviews

c. projective techniques

d. survey

e. Kraft Heinz could have used all of the above, as they are all types of qualitative research.

29. When consumers make ________ problem-solving decisions, they are likely to experience _________ in the post-purchase stage if they think their purchase was a waste of time and money.

a. extensive; cognitive dissonance

b. routine; regret

c. limited; limited satisfaction

d. extensive; consumer satisfaction

e. All of the above are possible.

30. Which of the following statements regarding qualitative research is NOT true?

a. It focuses on attitudes, opinions, and feelings of consumers.

b. It consists of depth interviews, focus groups, and projective techniques.

c. Findings are descriptive.

d. Questions are usually open-ended.

e. It usually involves the use of small sample sizes.

31. PepsiCola wants to conduct consumer research related to its release of a new product called Drinkit Sparkling Water. Regardless of the type of study that it will do, the first stage that it will go through in the research process is this.

a. Collecting primary data

b. Collecting secondary data

c. Reviewing the different types of research methods that can be used

d. Setting the research objectives

e. Developing a questionnaire for the study

32. Kraft Heinz wants to conduct consumer research related to its release of a new product called KetchupToo. It learned that retailers Walmart and Kroger had data on the sales of ketchup for the past 5 years. These data, which have been collected by these other companies for their own use but which Kraft Heinz can use, are classified as ____.

a. Primary data

b. Competitive store data

c. Secondary data

d. Company data

e. Consumer data

33. Which of the following is not among the product features that seem to influence consumer acceptance of new products?

a. Awareness

b. Relative advantage

c. Compatibility

d. Complexity

e. Trialability

34. When it comes to data collection for a consumer research study, a questionnaire is an example of this.

a. Research instrument

b. Qualitative research

c. Quantitative research

d. Secondary data

e. Survey

35. Which of the following does not reflect a motivation for gift-giving?

a. A college professor bought himself/herself a gift to reward himself/herself for making it

through the semester.

b. John bought his brother a gift to cheer him up.

c. Jane bought her sister a gift to celebrate her graduation from high school.

d. You bought your parents a gift because its their anniversary

e. You bought yourself a gift to reward yourself for having done well on your exams.

36. In the simple model of consumer decision-making, reference groups, family, social class, culture and subculture are examples of groups that have ______ on consumer behavior.

a. Situational influences

b. Social surrounding influences

c. Sociocultural influences

d. Psychological influences

e. Cross-cultural influences

37. Gross merchandise volume (sales) on ____, the biggest shopping day in the world, outstrips “the online revenues of U.S. retail’s biggest shopping holiday—from Thanksgiving Day and Black Friday to Cyber Monday—combined.”

a. Halloween

b. Christmas Day

c. Good Friday

d. Singles Day

e. Boxing Day

38. According to research results on gift-giving published in the article Nearly one quarter of Americans buy themselves gifts on holidays , the group of consumers most likely to splurge regularly on gifts for themselves were these consumers.

a. Men and women

b. Consumers aged 18-34

c. Americans

d. Consumers aged 55 and above

e. Consumers living in urban areas

39. According to the article For some Colorado retailers, back-to-school shopping season is bigger than the holidays , college students will spend the most on ___, while K-12 students will spend the most on _____ for back-to-school.

a. Clothing; electronics

b. Electronics; clothing

c. Collegiate-branded gear; clothing

d. Furnishings; school supplies

e. School supplies; electronics

40. In a recent article, Nike launches a sneaker subscription service for kids , we read that Nike is targeting “time-strapped parents in the suburbs and rural areas who don’t live near a shoe store with the program.” Based on this description of the target, which is not among the segmentation basis Nike has used to arrive at the target audience?

a. Geography

b. Product usage occasion

c. Demographics

d. Psychographics

e. All of the above bases for segmentation have been used to arrive at the target audience.

41. Which of the following would not be considered an external factor that influences consumers to purchase a product?

a. The consumers’ perception

b. Marketers’ actions such as distribution strategy and pricing

c. Information from other consumers through product reviews

d. Advertising

e. A subculture to which the consumers belong

42. Which of the following is not among the elements of marketing strategy that marketers can decide on using information about consumer behavior?

a. The price to charge for a new product

b. What social media platform to use to communicate with consumers

c. Whether to use a retail store such as Walmart or Target to sell products

d. Targeting millennial consumers versus targeting members of Generation Z

e. All of the above are among the elements of marketing strategy that marketers can decide on using information about consumer behavior.

43. Which of the following is a part of the output stage of the simple model of consumer decision

making?

a. Marketing activities such as advertising and distribution

b. Consumer evaluation of a purchase

c. The subcultures and the culture to which consumers belongs

d. Consumer personality and motivation

e. All of the above are a part of the output stage.

44. The Values and Lifestyles Survey (VALS) is a tool for ________ segmentation that uses consumers’ responses to a series of questions to classify them into one of 8 segments.

a. Demographic

b. Geographic

c. Psychographic

d. Projective

e. Benefits

45. Kraft Heinz conducted a consumer research study prior to the release of a new product called KetchupToo. For this study, it decided to have consumers write stories about their experiences with Heinz ketchup, in an effort to obtain information on consumers’ subconscious feelings and motivations. Kraft Heinz was using this research method.

a. Focus group

b. Interview

c. Projective technique

d. Survey

e. Personality testing

46. Marcus and Martina decided that they would purchase laptop computers instead of desktop computers because the primary reason for their purchases was to use the computers at school during class time. Given this information, companies such as Best Buy should focus on the _____ when marketing computers to consumers such as Marcus and Martina.

a. consumption situation

b. purchase situation

c. communication situation

d. disposition situation

e. All of the above situations

47. Many retail stores offer consumers self-service technology such as self-checkout, because they are aware that some consumers experience embarrassment when purchasing some products. Based on this information, the retail stores are trying to minimize the impact of this characteristic of consumer situations on consumer behavior.

a. Physical surroundings

b. Time pressure

c. Antecedent states

d. Social surroundings

e. Task definition

48. At this stage of the extensive problem-solving decision process, consumers use different decision rules in an effort to reduce the number of options they are considering when they have to purchase a product.

a. Problem/Need recognition

b. Prepurchase search

c. Evaluation of alternatives

d. Purchase

e. Post-purchase

49. Big Sports Retailer R Us , a global sports retail chain, uses information from consumers’ purchase histories to forecast the kinds of products that consumers may purchase. This means that Big Sports Retailer R Us is using this as part of its marketing strategy.

a. Segmentation

b. Targeting

c. Marketing

d. Product positioning

e. Predictive analytics

50. Vroom is an ecommerce company that allows consumers to buy, sell, or trade-in their vehicles online. In its ads, the company assures consumers that this method of purchasing or selling their cars is more convenient and faster than when they go through traditional car dealerships. Based on this information, Vroom is marketing its service based on this factor that influences consumers to accept new products and services.

a. Complexity

b. Relative advantage

c. Compatibility

d. Trialability

e. Observability