Foundation of Marketing Peregrine Global/ 108 Q&A/ A+ Score Solution
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Course
Peregrine Global
Institution
Peregrine Global
Foundation of Marketing Peregrine Global/ 108 Q&A/ A+ Score Solution.
Convenience purchases - Answer: Staples (standard, frequently consumed goods such as bread or gas) and impulse purchases (candy or National Enquirer available near the check-out stand). (B2C low)
Shopping purchases - Ans...
Foundation of Marketing Peregrine Global/
108 Q&A/ A+ Score Solution.
Convenience purchases - Answer: Staples (standard, frequently consumed goods such as bread
or gas) and impulse purchases (candy or National Enquirer available near the check-out stand).
(B2C low)
Shopping purchases - Answer: Going online to Citysearch.com to find a restaurant and make
reservations when heading out of town. (B2C moderate)
Specialty purchases - Answer: A new car, fashion shows, an expensive laptop computer. (B2C
high)
Straight rebuy - Answer: You're out of toothpaste and you mindlessly pop a tube of your usual
brand into your basket. (B2B low)
Page 1 of 22
,Modified rebuy - Answer: You reach for your brand of toothpaste but you try a new flavor. ( B2B
Moderate)
New buy - Answer: You're buying teeth whitening strips for the first time and think what
attributes must you consider. (B2B High)
Low customer involvement - Answer: Customers don't care and won't spend time thinking
about brands. They will typically be somewhat price sensitive.
Moderate customer involvement - Answer: Some effort is expended prior to purchase to obtain
good value.
High customer involvement - Answer: For expensive purchases, brand, uniqueness and quality
matter.
Customer Involvement - Answer: It's not the type of product or purchase that matters. It's the
type of customer behavior (consumer or business level of involvement) that is relevant and the
marketing actions and reactions.
Lexicographic method - Answer: A customer compares brands by the most important attributes
or dimensions. Brands that make the cut on the first dimension go into the customer's
consideration set. The customer then compares the brand on the next important attribute and
so forth, until only one brand is left.
Average method - Answer: This method uses averages so one attribute can't make or break a
brand. If a brand is strong on one attribute and average on another, it will still dominate a brand
that was just average on all its attributes.
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, Attribute importance - Answer: Models can be made more complex by bringing in weights to
express how important the attributes are to the customer. Those important weights underpin
how segments of customers differ.
Marketing Science of Customers Behavior - Answer: The factors influencing customer behavior
include external (opinion leaders, family, culture, social class, reference groups); internal
(attitudes, motivations, learning, perceptions, lifestyle); and situational (physical environment,
purpose of purchase, time constraints).
Roles in Big, Complicated Business Purchases - Answer: Initiator: an administrative assistant
who notices a printer in the office frequently needs repairs.
User: every staff member who sends a job to that printer.
Influencer: the IT person who knows Brand X is cheaper.
Buyer: administrator who orders equipment and supplies.
Gatekeeper: accountant who controls the budget.
Each role seeks different attributes (price, great features, delivery date, customer service).
The Product Life Cycle - Answer: consists of the following four distinct stages:
Introduction: An organization attempts to establish itself as a pioneer/market leader (especially
if there are few competitors), & product development costs are high.
Growth: Sales/Revenues & profit margins rise as consumers buy the product and competition
increases, & due to shakeout poor performing firms may exit the market.
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