BUS 460 exam 1 Questions and Answers Solved Correctly Latest Update

BUS 460 exam 1 Questions and Answers Solved Correctly Latest Update Consumer Behavior - Answers processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use acquisition - Answers - buying - leasing or renting - gifting - subscriptions - stealing consumption - Answers the using up of a resource disposing - Answers How consumers get rid of products and packaging What is a consumer? - Answers A person who purchases goods and services for personal use what is an offering - Answers a product, service, activity, or idea offered by a marketing organization to consumers demographic variables - Answers age, gender, race, ethnicity, income, education, occupation, family size, family life cycle, religion, social class Psychographic Variables - Answers consumer characteristics, such as lifestyles, opinions, interests, and attitudes that may be considered in developing a segmentation strategy biogenic needs - Answers food, water, air, shelter hedonic needs - Answers needs motivating consumers to go shopping for pleasure utilitarian needs - Answers needs motivating consumers to go shopping to accomplish a specific task psychogenic needs - Answers status, power, affiliation characteristics of needs - Answers Dynamic! - ever evolving Exist in hierarchy Internally or externally aroused Not always congruent - can conflict Needs vs. Wants - Answers Need: hunger, thirst, warmth Want: Dunkin Donuts (vs. food), Coke (vs. something to drink) approach-approach conflict - Answers a choice must be made between two attractive goals. Choosing between two dream vacation destinations approach-avoidance - Answers Conflict that results from having to choose an alternative that has both attractive and unappealing aspects. Taking a promotion at work that offers a higher salary and greater responsibilities (positive aspects) but also involves longer hours and increased stress avoidance-avoidance conflict - Answers Conflict that results from having to choose between two distasteful alternatives. Deciding whether to deal with a costly car repair or purchase a new car motivation process - Answers Need = discrepancy between present state & ideal state Discrepancy creates tension: Tension is the unpleasant state that exists if a person's consumption needs are not being met. Drive is the motivation to reduce the difference between the actual and ideal state: the larger the discrepancy, the more urgency felt What enhances motivation? - Answers -Consistent with our needs, values, & goals -Personally relevant (involving) -Risky -Moderately inconsistent with our prior attitudes perceived risk - Answers the belief that choice of a product has potentially negative consequences, whether financial, physical, and/or social types of perceived risk - Answers Performance risk - will the product perform? Physical risk - is it safe? Social risk - will it hurt my social standing? Psychological risk - does it fit with what I think of myself? Time risk - do I have the time to invest in it? ability - Answers examines whether consumers have the resources to make the outcome happen opportunity factors - Answers Time Distractions Amount of information Complexity of information Repetition of information EA&P - Answers Exposure, Attention, and Perception Influences of Exposure - Answers - position of an ad within a medium - product placement - product distribution and shelf placement