MKT 4500 Exam 2 Study Questions and Correct Answers

Product Influences attributes of a company's products including brand name, quality, newness, and complexity (can affect consumer behavior) Physical appearance and labeling information also play a part in this influence to differentiate a brand Price Influences Extremely influential on whether customers will purchase an item at all and if so which competitive offering is chosen Different strategies are utilized for this influence based on the retailer and the kind of product/service being sold in order to differentiate a brand Promotion Influences advertising, salespeople, and publicity can influence what consumers think about products, what emotions they experience in purchasing and using them, and what behaviors they perform Place influences when consumers are seeking low-involvement products, ready availability with this influence is important. In addition, what outlet the product is being sold out of can impact the image of the brand in the consumers mind (i.e. Nordstrom's products are assumed to be high-quality) Physical Features (situational influence) most readily apparent features of a situation, including: geographical, institutional location, decor, sounds, aroma, lighting, weather, and visible configurations of merchandise Social Features (situational influence) provide additional depth to a description of a situation, including: other persons present in situation, their characteristics, their apparent roles and interpersonal interactions Time (situational influence) dimension of situations that may be specified in units ranging from a moment of day to season of year; may be measured relative to some past or future event for the situational participant also includes length since last purchase, how long it's been or until payday, and other constraints Task features (situational influence) include an intent or requirement to select, shop for, or obtain information about a general or specific purchase; this feature may reflect different buyer and user roles anticipated by the individual (i.e. buying a gift is dif than buying something for personal use)