BUS 460 EXAM 3 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. General sources of information/influence
Answer:
1. Marketer-dominated
2. Non-marketer-dominated
Question:
2. Marketer-dominated sources
Answer:
influence delivered from a marketing agent, for example, via mass media,
advertising, personal selling. (ex. via personally include salespeople, service
representatives, customer service)
Question:
3. Non-marketer-dominated source
Answer:
influence delivered from an entity outside a marketing organization, for example,
via personally, friends, family, WOM, and casual encounters. (ex. via mass media
include news items, movie reviews, internet sites.
Question:
4. social influences
Answer:
information by and implicit or explicit pressures from individuals, groups, and the
mass media that affects how a person behaves
,Question:
5. Word of mouth communication
Answer:
product information transmitted by individuals to individuals. more
reliable/trustworthy form of marketing. influences 2/3 of all sales of goods. it's
powerful when we are unfamiliar with product category. Viral Marketing: C2C.
Negative WOM is easy to spread and more powerful, especially online.
Determined Detractors: persisting critics of a company or product that always has
something bad to say (ihatestarbucks.com).
also need to worry about rumors that aren't true. marketers need to debunk the
rumors right away.
Why do people engage:
product-related conversation factors:
1. high involvement with product (pleasure)
2. knowledgeable about the product (impressing others)
3. genuine concern for others (avoid wasting money)
Question:
6. rumor transmission
Answer:
transmission of misinformation. (telephone game) information changing from
person to person.
Question:
7. Opinion leadership
Answer:
we are most likely to seek advice from someone who knows a lot about a product.
OL frequently influence others' attitudes/behaviors. they are valuable sources of
information because of: expertise, unbiased knowledge, highly interconnected in
communities (social standing), and hands-on product experience (absorb risk)
1. Generalized opinion leader: somebody who's recommendation we seek for all
types of purchases.
2. Monomorphic experts: people who are experts in one field
3. Polymorphic experts: people who are experts in several fields
expertise tends to overlap across similar categories so it is rare to find a
generalized OL. OLs are also opinion seekers, they are more likely to talk about
products with others and solicit other's opinions. casual interaction prompted by
situation rather than a lecture type situation
, Question:
8. Market Maven
Answer:
someone who seems to have a lot of information about the market place in
general. actively involved in transmitting marketplace information of all types. just
into shopping and staying on top of what's happening in the marketplace. solid
overall knowledge of how and where to procure products. most likely to say:
"I like introducing new brands/products to friends"
"People ask me for information about products, places to shop, or sales"
"My friends think of me as a good source of info when it comes to new products
or sales"
Question:
9. surrogate consumers
Answer:
active influencer in many categories. They are compensated for their advice
(difference between OL and market mavens) A marketing intermediary who is
hired to provide input into purchase decisions. Ex. Interior decorators,
stockbrokers, professional shoppers, college consultants, etc. Consumer
relinquishes control over decision-making functions. surrogate make the purchase
on behalf of the consumers. marketers tend to over look the influence of
surrogates, they should target surrogates along with consumers because
surrogates are the ones actually sifting through products.
Question:
10. Types of social influence
Answer:
1. Value-expressive/Identification: wish to identify with group/person/hero (ex.
buying nikes to identify with certain athletes we like)
2. Normative social influence: meet society/group's expectations (ex. what our
friends are buying, buying a nice dress for a job interview because it's expected
by society)
3. Informational social influence: information to help make decisions (ex.opinion
leaders, market maven, surrogate consumers)
CORRECT ANSWERS
Question:
1. General sources of information/influence
Answer:
1. Marketer-dominated
2. Non-marketer-dominated
Question:
2. Marketer-dominated sources
Answer:
influence delivered from a marketing agent, for example, via mass media,
advertising, personal selling. (ex. via personally include salespeople, service
representatives, customer service)
Question:
3. Non-marketer-dominated source
Answer:
influence delivered from an entity outside a marketing organization, for example,
via personally, friends, family, WOM, and casual encounters. (ex. via mass media
include news items, movie reviews, internet sites.
Question:
4. social influences
Answer:
information by and implicit or explicit pressures from individuals, groups, and the
mass media that affects how a person behaves
,Question:
5. Word of mouth communication
Answer:
product information transmitted by individuals to individuals. more
reliable/trustworthy form of marketing. influences 2/3 of all sales of goods. it's
powerful when we are unfamiliar with product category. Viral Marketing: C2C.
Negative WOM is easy to spread and more powerful, especially online.
Determined Detractors: persisting critics of a company or product that always has
something bad to say (ihatestarbucks.com).
also need to worry about rumors that aren't true. marketers need to debunk the
rumors right away.
Why do people engage:
product-related conversation factors:
1. high involvement with product (pleasure)
2. knowledgeable about the product (impressing others)
3. genuine concern for others (avoid wasting money)
Question:
6. rumor transmission
Answer:
transmission of misinformation. (telephone game) information changing from
person to person.
Question:
7. Opinion leadership
Answer:
we are most likely to seek advice from someone who knows a lot about a product.
OL frequently influence others' attitudes/behaviors. they are valuable sources of
information because of: expertise, unbiased knowledge, highly interconnected in
communities (social standing), and hands-on product experience (absorb risk)
1. Generalized opinion leader: somebody who's recommendation we seek for all
types of purchases.
2. Monomorphic experts: people who are experts in one field
3. Polymorphic experts: people who are experts in several fields
expertise tends to overlap across similar categories so it is rare to find a
generalized OL. OLs are also opinion seekers, they are more likely to talk about
products with others and solicit other's opinions. casual interaction prompted by
situation rather than a lecture type situation
, Question:
8. Market Maven
Answer:
someone who seems to have a lot of information about the market place in
general. actively involved in transmitting marketplace information of all types. just
into shopping and staying on top of what's happening in the marketplace. solid
overall knowledge of how and where to procure products. most likely to say:
"I like introducing new brands/products to friends"
"People ask me for information about products, places to shop, or sales"
"My friends think of me as a good source of info when it comes to new products
or sales"
Question:
9. surrogate consumers
Answer:
active influencer in many categories. They are compensated for their advice
(difference between OL and market mavens) A marketing intermediary who is
hired to provide input into purchase decisions. Ex. Interior decorators,
stockbrokers, professional shoppers, college consultants, etc. Consumer
relinquishes control over decision-making functions. surrogate make the purchase
on behalf of the consumers. marketers tend to over look the influence of
surrogates, they should target surrogates along with consumers because
surrogates are the ones actually sifting through products.
Question:
10. Types of social influence
Answer:
1. Value-expressive/Identification: wish to identify with group/person/hero (ex.
buying nikes to identify with certain athletes we like)
2. Normative social influence: meet society/group's expectations (ex. what our
friends are buying, buying a nice dress for a job interview because it's expected
by society)
3. Informational social influence: information to help make decisions (ex.opinion
leaders, market maven, surrogate consumers)
