Chapter 1. Consumer Behavior and Marketing Strategy Quiz

To be successful, a product must _____.

• meet the needs of the target market better than the competition does

• be lower priced than competitors' products

• be of higher quality than competitors' products

• be advertised more than competitors' products

• have greater distribution than the competition does

What is the first step in market segmentation?

• describe each group

• group customers with similar needs sets

• identify product-related need sets

• select an attractive segment to serve

• set objectives for segmenting

Which of the following is a component of a market analysis?

• market segmentation

• Objectives

• Conditions

• price

• all of the above

Which of the following is NOT a step in market segmentation?

• set budget

• identify product-related need sets

• group customers with similar need sets

• describe each group

• select an attractive segment(s) to serve

Which of the following is NOT an application of consumer behavior?

• marketing strategy

• human resource management

• regulatory policy

• informed consumers

• social marketing

Marketing strategy begins with _____.

• market segmentation

• targeting

• conducting an outcomes assessment

• objective setting

• conducting a market analysis

_____ is the application of marketing strategies and tactics to alter or create behaviors that have a positive effect on the targeted individuals or society as a whole.

• Social marketing

• Consumer behavior

• Regulation

• Proactive marketing

• Ethical marketing

Which of the following aspects is evaluated when determining a firm's ability to meet customer needs?

• financial condition

• general managerial skills

• production capabilities

• technological sophistication

• all of the above

A portion of a larger market whose needs differ somewhat from the larger market is referred to as a(n) _____.

• market segment

• niche

• subgroup

• ancillary market

• secondary market

Which of the following is NOT considered one of the firm's outcomes of the marketing strategy and consumer behavior process?

• product position

• customer satisfaction

• service

• sales and profits