Marketing Applications

If a business lowers the price of a product for the purpose of taking business away from its competitors, which action is often the result?

• a decrease in cost

• an increase in profit

• a gain in market share

• a reduction in staff

When customers have a low involvement with a product and there is little difference among brands, what type of buying behavior are they exhibiting?

• Habitual

• Variety

• Complex

• Basic

Complex buying behavior is most likely involved when the customer is purchasing which items?

• Cars

• Meals

• Socks

• Gasoline

Morgan Health Supply Company wants to expand its product line this year/ It uses its budget surplus to invest in new products rather than to remodel its offices. This is an example of which postie action?

• Provide excellent customer service

• Align strategies and activies with goals

• Demostrate corporate responsibility

• utilize touch points to reinforce company image

What type of buying behavior includes low customer involvement, significant brand awareness, and desire for change?

• Status-oriented

• Risk-taking

• Variety-seeking

• Brand-insisted

Positive and negative results can often be directly related to which factors about a company?

• it's taxwes

• It's actions

• Is customers

• Its locations

Technological advances can help companies provide more customer service with fewer employees, but why must the companies be careful?

• technology cannot provide 24-7 service

• computers and telephones break down regularly

• Current employees may go on strike

• Customer may feel they are losing human touch

An energy company has misrepresented its financial status on its latest accounting reports. This is an example which negative action?

• Failing to provide what customers want

• Not keeping promises

• Responding inappropriately to crises

• Acting unethically

Customers are more likely to spend a lot f time evaluating several options before buying a product during which situation?

• When the product is perishable

• When the product is expensive

• When the need is immediate

• When brand insistence is a facor

Motives, perception, attitude, lifestyle, personality, and abilities are which factors influencing consumer behavior?

• Economic

• Social

• Political

• Psychological