Marketing 3325-Consumer Behavior, Otto Test 1 UPDATED Exam Questions and CORRECT Answers
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Course
Arketing 3325
Institution
Arketing 3325
Marketing 3325-Consumer Behavior, Otto
Test 1 UPDATED Exam Questions and
CORRECT Answers
Consumer Behavior - CORRECT ANSWER- All consumer activities associated with the
purchase, use, and disposal of goods and services
Individual Consumers - CORRECT ANSWER- Satisfy needs and wants for thems...
Marketing 3325-Consumer Behavior, Otto
Test 1 UPDATED Exam Questions and
CORRECT Answers
Consumer Behavior - CORRECT ANSWER- All consumer activities associated with the
purchase, use, and disposal of goods and services
Individual Consumers - CORRECT ANSWER- Satisfy needs and wants for themselves or
others
Organizational Consumers - CORRECT ANSWER- Purchase goods and services to produce
or resell other goods and services or help manage their organizations
Why study consumer behavior? - CORRECT ANSWER- -Improve business performance
-influence public policy
-help consumers make better decisions
Marketing Research - CORRECT ANSWER- A systematic process of planning, collecting,
analyzing, and interpreting data and information relevant to marketing
Types of Consumer Behavior Research - CORRECT ANSWER- 1. In-depth interviews
2. Focus Groups
3. Observational Research
Market Segmentation - CORRECT ANSWER- Dividing the mass market into subsets of
consumers who share common needs, characteristics, or behaviors, and targeting one or more
of those segments with a distinct marketing mix.
Positioning - CORRECT ANSWER- differentiates a product from competitors and explains
how it satisfies consumers' needs.
The Benefits of Market Segmentation - CORRECT ANSWER- -Efficient use of resources
-Avoid direct competition
-Specialized needs met
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