HFT 2500 ch.6 Consumer Markets and
Consumer Buying Behavior fully
solved
1970 women accounted less than 1% all business travelers, 1991 women 25% - correct answer
✔✔US consumer market includes more than 300 million persons who consume more than 12
trillion worth of goods and services almost 10,000 for every man, woman, and child
Central question - correct answer ✔✔how do consumers respond to the various marketing
stimuli that a company might use?
Marketing stimuli (the 4 Ps) - correct answer ✔✔Product, price, place, promotion. (other
stimuli: economic, technological, political, cultural) all enter the the buyer's black box
Buyer's Black Box - correct answer ✔✔2 parts; buyer characteristics: influence how he or she
perceives and reacts to the stimuli. And buyer decision process itself affects the outcomes
Buyer's Responses - correct answer ✔✔observable buyer responses: Product choice, brand
choice, dealer choice, purchase timing, purchase amount
Culture (culture, subculture, social class) - correct answer ✔✔most basic determinant of a
person's wants and behavior, the basic values, perceptions, wants, and behaviors that a person
learns continuously in a society (ex menu change, gym)
Social (reference groups, family, roles and status) - correct answer ✔✔
, subculture - correct answer ✔✔a group of ppl with shared cvalue systems based in commin life
ecperiences and situations. nationalities, religions, racial groups, and geographic regions.
hispanic, african america, and asian
Hispanic Consumers - correct answer ✔✔over 50 million in US. buy more than 950 billion,
family oriented even while grocery shopping. loyal to brands.
International Assoc. of Hispanic Planners (IAHP) meeting planners
African Americans - correct answer ✔✔buying power 913 billion, 42 million ppl US. price
conscious, quality and selections, brand, most fashion conscious. National Coalition of Black
Meeting Planners (NCBMP) planners
Asian american - correct answer ✔✔most affluent, more than 15 million, 500 billion annual
spending power. tech savvy, most brand conscious,
social class - correct answer ✔✔in new countries( us, new zealand, canada, australia) social
class not one factor , occupation, wealth, education, source of income, etc. older nations = born
into social class.
Social Factors (groups) - correct answer ✔✔membership Groups: groups to which a person
belongs, that have a direct influence and to which a person belongs. primary groups, family,
friends, neighbors and coworkers
reference groups: direct face to face or indirect of comparison or reference in forming a
person's attitude or behavior. ppl often influenced by reference group to which they do not
belong. 1. expose consumer to new behavior and lifestyle, 2. influence person's attitude and
self-concept, and 3. create pressure to conform.
aspirational groups: do not belong but would like to
Social factors (word of mouth) there'salso social media - correct answer ✔✔opinion leaders: ppl
with reference group who exert social influence on others
Consumer Buying Behavior fully
solved
1970 women accounted less than 1% all business travelers, 1991 women 25% - correct answer
✔✔US consumer market includes more than 300 million persons who consume more than 12
trillion worth of goods and services almost 10,000 for every man, woman, and child
Central question - correct answer ✔✔how do consumers respond to the various marketing
stimuli that a company might use?
Marketing stimuli (the 4 Ps) - correct answer ✔✔Product, price, place, promotion. (other
stimuli: economic, technological, political, cultural) all enter the the buyer's black box
Buyer's Black Box - correct answer ✔✔2 parts; buyer characteristics: influence how he or she
perceives and reacts to the stimuli. And buyer decision process itself affects the outcomes
Buyer's Responses - correct answer ✔✔observable buyer responses: Product choice, brand
choice, dealer choice, purchase timing, purchase amount
Culture (culture, subculture, social class) - correct answer ✔✔most basic determinant of a
person's wants and behavior, the basic values, perceptions, wants, and behaviors that a person
learns continuously in a society (ex menu change, gym)
Social (reference groups, family, roles and status) - correct answer ✔✔
, subculture - correct answer ✔✔a group of ppl with shared cvalue systems based in commin life
ecperiences and situations. nationalities, religions, racial groups, and geographic regions.
hispanic, african america, and asian
Hispanic Consumers - correct answer ✔✔over 50 million in US. buy more than 950 billion,
family oriented even while grocery shopping. loyal to brands.
International Assoc. of Hispanic Planners (IAHP) meeting planners
African Americans - correct answer ✔✔buying power 913 billion, 42 million ppl US. price
conscious, quality and selections, brand, most fashion conscious. National Coalition of Black
Meeting Planners (NCBMP) planners
Asian american - correct answer ✔✔most affluent, more than 15 million, 500 billion annual
spending power. tech savvy, most brand conscious,
social class - correct answer ✔✔in new countries( us, new zealand, canada, australia) social
class not one factor , occupation, wealth, education, source of income, etc. older nations = born
into social class.
Social Factors (groups) - correct answer ✔✔membership Groups: groups to which a person
belongs, that have a direct influence and to which a person belongs. primary groups, family,
friends, neighbors and coworkers
reference groups: direct face to face or indirect of comparison or reference in forming a
person's attitude or behavior. ppl often influenced by reference group to which they do not
belong. 1. expose consumer to new behavior and lifestyle, 2. influence person's attitude and
self-concept, and 3. create pressure to conform.
aspirational groups: do not belong but would like to
Social factors (word of mouth) there'salso social media - correct answer ✔✔opinion leaders: ppl
with reference group who exert social influence on others
