Test 1

Question 1

Consumer behavior

Answer 1

is the study of how people, groups, or organizations choose, use, and get rid of products or services to meet their needs, and how these choices affect both them and society.

Question 2

Market Segmentation

Answer 2

is a portion of a larger
market whose needs differ from the larger market.

Question 3

Market Segmentation Steps

Answer 3

1. Identify product-related needs
2. Grouping customers with similar needs
3. Describing each group
4. Selecting an attractive segment to serve

Question 4

Marketing Strategy

Answer 4

Market Analysis, Market Segmentation, Marketing Strategy, Consumer Decision Process, Outcomes

Question 5

Culture

Answer 5

beliefs, art, morals, customs, and habits acquired by humans as members of society

Question 6

Norms

Answer 6

ranges of appropriate behavior

Question 7

Sanctions

Answer 7

penalties for violating norms

Question 8

Variation in Cultural Values

Answer 8

• Individual/Collective
• Youth/Age
• Extended/Limited Family
• Masculine/Feminine
• Competitive/Cooperative
• Diversity/Uniformity

Question 9

Global Youth Culture

Answer 9

Worldwide mass media is the main influence in joining lifestyles, values and purchases is now becoming a global trend where all teens are obtaining similar values from what they see online

Question 10

Cultural Values

Answer 10

beliefs that affirm what is desirable; a shared belief within a group or society about what is good, important, or acceptable

Question 11

Green Marketing

Answer 11

being eco-friendly, recyclable, energy-efficient, or sustainably made to appeal to consumers who care about the environment.

Question 12

Cause-related marketing

Answer 12

when a company partners with a nonprofit or supports a social cause, and a portion of sales or profits goes toward that cause

Question 13

Gender based marketing

Answer 13

products or ads specifically for men or women, based on traditional ideas of gender preferences.

Question 14

Risks of Green and Cause marketing

Answer 14

Greenwashing: If claims aren’t fully true, consumers may see the brand as dishonest.

Customers may feel a company is using a cause just to sell more.

Question 15

Demographics

Answer 15

• Population Size and Distribution
• Occupation
• Education
• Income
• Age
• Gender

Question 16

Generation or Age Cohort

Answer 16

group of persons who have
experienced a common social,
political, historical, and economic
environment.

Question 17

Cohort Analysis

Answer 17

the process of describing and explaining the attitudes, values and behaviors of an age group as well as predicting its future attitudes, values, and behaviors

Question 18

American Generations

Answer 18

Pre-Depression prior to 1930
Depression 1930-1945
Baby Boom 1946-1964: older, higher income, travel more
Generation X 1965-1976: First to experience mass divorce, value life over work
Generation Y 1977-1994
Generation Z 1995-2009
Generation Alpha 2010-Present

Question 19

Subculture

Answer 19

segment of a larger culture whose members share
distinguishing values and patterns of behavior

Question 20

Ethnic Subcultures

Answer 20

members’ unique shared behaviors are based on a
common racial, language, or nationality heritage background

Question 21

Acculturation

Answer 21

the degree to which an immigrant has adapted to his or her new culture

Question 22

Asian Americans

Answer 22

Asian Americans are the highest educated and the highest
income group.
The estimated purchase power is at $1.6 trillion
This group is also the most diverse group, with numerous
nationalities, languages, and religions.

Hispanics are closer family

Question 23

Household

Answer 23

Consists of all the people who occupy a housing unit

Question 24

Family Household

Answer 24

One having at least two members related by birth, marriage, or adoption, one of whom is the householder

Question 25

Nonfamily Household

Answer 25

householder living alone or exclusively with others to whom he or she is not related.

Question 26

Household Life Cycle

Answer 26

How age connects to stages of consumption (single, full nest, empty nest)

Question 27

Study Family Decision Making Chart for Bonus

Answer 27

socks and makeup story

Question 28

Consumer socialization

Answer 28

is the process by which young people acquire skills, knowledge, and attitudes relevant to their functioning as consumers in the marketplace

Question 29

Group

Answer 29

two or more individuals who share a set of norms, values, or beliefs and have certain implicitly or explicitly defined relationships to one another such that their behaviors are interdependent

Question 30

Reference Group

Answer 30

is a group whose presumed perspectives or values are being used by an individual as the basis for his/her current behavior

Question 31

Dissociative Group

Answer 31

refers to a reference group the individual does not want to associate with

Question 32

Consumption subcultures

Answer 32

distinctive subgroup of society that self-selects on the basis of a shared commitment to a particular product, class brand, or consumption activity Its a lifestyle (Harley Davidson)

Question 33

Brand Communities

Answer 33

non-geographically bound community, based on a structured set of social relationships among owners of a brand and the psychological relationship they have with the brand itself, the product in use, and the firm Jeep wave, duck

Question 34

Reference Group Chart study