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MRKT 305-2
| Question | Answer |
|---|---|
| what are the steps in the purchase decision process? | problem recognition, info search, alternative evaluation, purchase decision, post-purchase behavior |
| how many people do satisfied and dissatisfied customers tell? | 3 and 9 respectively |
| it is cheaper to garner new customers than keep old ones | FALSE |
| best buy used this to enhance some of its stores | customer centricity |
| what is the idea behind customer centricity? | to seek out the needs and wants of the customer |
| how do men and women consumers differ? | men are independent shoppers, women want a more personal touch while shopping and typically seek out more information |
| what is selective perception? | the way consumers filter and organize information that reflects or agrees with their beliefs |
| selective exposure | consumers will only pay attention to ads that they like or agree with and will forget the others |
| selective comprehension | people will interpret ads based on their beliefs even if it is not the same as the ad intended |
| selective retention | consumers will remember only those ads that they want |
| subliminal perception | advertising to the subconscious mind |
| name some ways in which marketers try to reduce perceived risk | warranties, endorsements, instructions, free samples, seals of approval |
| behavioral learning | creating responses by repeat exposure to something |
| attitude formation | the ability of a company to win over positive consumer thoughts and make the consumer like their company |
| VAL's | values, attitudes and lifestyles |
| what is protectionism? | government tools used to control trade |
| tariff | tax on an import or export, used by the government to control the flow of goods across borders |
| quota | limit on the quantity of goods that can be imported or exported |
| European Union | contains 27 members and the currency is the euro |
| NAFTA | north American free trade agreement, facilitates trade between the US Canada and Mexico |
| Asian Free Trade Agreement | similar to NAFTA, contains countries like Japan, Hong Kong, Taiwan, Singapore, and South Korea |
| three types of international companies | international, multinational, transnational |
| items in the global environmental scan | values, customs, cross cultural analysis |
| best way to translate a slogan or instruction | back translation |
| major ways companies enter the global marketplace | exports, licensing, joint venture, direct investment |
| marketing research | defines a problem, gathers information, analyzes the information and recommends an action |
| five steps in the marketing research process | define problem, develop plan, collect info, develop findings, take action |
| constraints | restrictions on possible solutions to a problem |
| neuromarketing | studying physical reactions of humans |
Created by:
rjm1489
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