Exam (elaborations)
BUSML 3250 Exam 2 Questions and Answers Latest Update
- Course
- Institution
BUSML 3250 Exam 2 Questions and Answers Latest Update
[Show more]
Content preview
BUSML 3250 Exam 2 Questions andAnswers 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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now