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BUSML 3250 Exam 2 Questions and Answers Latest Update $16.49   Add to cart

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BUSML 3250 Exam 2 Questions and Answers Latest Update

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  • Course
  • BUSML 3250
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  • BUSML 3250

BUSML 3250 Exam 2 Questions and Answers Latest Update

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  • October 29, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUSML 3250
  • BUSML 3250
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lectknancy
BUSML 3250 Exam 2 Questions and
Answers Latest Update
Consumer Buyer Behavior - Answer-The buying behavior of final consumers-
individuals and households that buy goods and services for personal consumption

Consumer Market - Answer-All the individuals and households that buy or acquire
goods and services for personal consumption

Buyer's Black Box - Answer-Buyer's characteristics
Buyer's decision process

Culture - Answer-the set of basic values, perceptions, wants, and behaviors learned by
a member of society from family and other important institutions

Subculture - Answer-a group of people with shared value system based on common life
experiences and situations

Hispanic Consumer - Answer-50 million people / 1.5 trillion buying power

African American Consumer - Answer-40 million people / 1.2 trillion buying power

Asian American - Answer-16 million people / 775 Billion buying power

Cross Cultural Marketing - Answer-the practice of including ethnic themes and cross-
cultural perspectives within their mainstream marketing

Social Class - Answer-Relatively permanent and ordered divisions in a society whose
members share similar values, interests, and behaviors

Group - Answer-two or more people who interact to accomplish individual or mutual
goals

Upper Upper Class - Answer-The social elite who live on inherited wealth. They give
large sums of money to charity, own more than one home, and send their children to the
finest schools

Lower Upper Class - Answer-Americans who have earned high income or wealth
through exceptional ability. They are active in social and civic affairs and buy expensive
homes, education, and cars

Upper Middle Class - Answer-Professionals, independent business persons, and
corporate managers who possess neither family status nor unusual wealth. They

,believe in education, are joiners and highly civic minded, and want the "better things in
life."

Middle Class - Answer-Average pay white- and blue- collar workers who live on the
"better side of town." They buy popular products to keep up with the trends. Better living
means owning a nice home in a nice neighborhood with good schools

Working Class - Answer-Those who lead this lifestyle, whatever their income, school
background, or job.They depend heavily on relatives for economic and emotional
support, advice on purchases, and assistance in times of trouble

Upper Lower Class - Answer-The working poor. Although their living standard is just
above poverty, they strive toward a higher class. However, they often lack education
and are poorly paid for unskilled work.

Lower Lower Class - Answer-Visibly poor, often poorly educated unskilled laborers.
They are often out of work, and some depend on public assistance. They tend to live a
day-to-day existence

Word-of-Mouth influence - Answer-the impact of the personal words and
recommendations of trusted friends. associates, and other consumers on buying
behavior

Opinion Leader - Answer-A person within a reference group who, because of special
skills, knowledge, personality, or other characteristics, exerts social influence on others.

Buzz Marketing - Answer-enlisting or even creating opinion leaders to serve as "brand
ambassadors" who spread the word about a company's products.

Men ages 18-64 - Answer-51% identify themselves as primary shoppers
39% handle Laundry

Women ages 18-64 - Answer-50% of all technology purchases
2/3 of all new car purchases

Children ages 9-12 (36 million) - Answer-$43 billion in disposable income
influence $150 billion

Buyer's Decisions are influenced by these characteristics - Answer-Age and Life Cycle
Stage
Occupation
Economic Situation
Lifestyle
Personality and Self-Concept

, Lifestyle - Answer-A person's pattern of living as expressed in his or her activities,
interests, and opinions.

Personality - Answer-The unique psychological characteristics that distinguish a person
or group

Brand Personality - Answer-Specific mix of human traits that may be attributed to a
particular brand.

Five Brand Personality traits - Answer-Sincerity
Excitement
Competence
Sophistication
Ruggedness

Buying Choices are Influenced by four major psychological factors - Answer-Motivation
Perception
Learning
Beliefs
Attitudes

Motive (Drive) - Answer-A need that is sufficiently pressing to direct the person to seek
satisfaction of the need

Sigmund Freud - Answer-Assumed that people are largely unconscious about the real
psychological forces shaping their behavior. Theory suggests that a person's buying
decisions are affected by subconscious motives that even the buyer may not fully
understand

Motivation Research - Answer-qualitative research designed to probe consumers'
hidden, subconscious motivations

Abraham Maslow - Answer-Explains why people are driven by particular needs at
particular times.
Human needs are arranged in a hierarchy.
Physiological Needs
Safety Needs
Social Needs
Esteem Needs
Self-Actualization Needs

Perception - Answer-The process by which people select, organize, and interpret
information to form a meaningful picture of the world.
Exposed to 3,000-5,000 messages per day.

Physiological Needs (maslow) - Answer-Hunger and Thrist

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