What makes a purchase decision high- The purchase involves high financial, social, or physical risk requiring
involvement? extensive evaluation.
What causes problem recognition in consumer A discrepancy between a person's current state and desired state.
behavior?
What psychological process occurs when buyers Selective distortion.
ignore negative information to justify their
purchase?
Who controls the flow of information in a B2B Gatekeeper.
buying center?
Major components of the Black Box Model Marketing stimuli; buyer's black box; buyer's response.
Purpose of market segmentation To divide the market into groups with similar needs or characteristics.
What makes a segment actionable? The firm can create effective programs to serve the segment.
Requirement for successful positioning Creating a clear, distinct, desirable place in consumers' minds.
Goal of differentiation To create value by making a product meaningfully different from
competitors.
,What does the multi-attribute attitude model How consumers evaluate a product based on weighted attributes.
explain?
Definition of selective attention The process of screening out most information and noticing only
certain messages.
Definition of selective retention Remembering only information that supports existing beliefs.
Purpose of a value proposition To summarize why a consumer should buy and what unique value is
offered.
Definition of cognitive dissonance Discomfort caused by post-purchase conflict or uncertainty.
Role of an influencer in B2B buying Affects the decision by providing information or expertise.
When do profits peak in the product life cycle? Growth stage.
Definition of cost-plus pricing Adding a standard markup to production cost.
Definition of penetration pricing Setting a low price to quickly enter a market and attract buyers.
Definition of skimming pricing Setting a high initial price to maximize revenue from early adopters.
Goal of promotion in the marketing mix To communicate value and persuade consumers to buy.
, Definition of primary demand advertising Stimulates demand for an entire product category.
Main advantage of market research Reduces uncertainty with data-driven insights
Purpose of a perceptual map Visualizes consumer perceptions of brands based on attributes.
Convenience vs. shopping products Convenience = frequent, low effort; Shopping = comparison and
evaluation required.
Role of the decider in B2B buying Has final authority to choose the supplier.
L'Oréal's AI-driven Skin Genius tool analyzes Customer retention.
selfies to recommend personalized skincare. This
supports which profitability driver?
What strategy did PepsiCo use to inform product Analysis of online social media conversations and trend signals.
development for Bubly sparkling water?
How can AI contribute to customer acquisition? Personalize marketing messages based on individual customer
preferences.
How does AI help in new product development Provides insights to track shifting preferences and identify new
and brand management? opportunities.
involvement? extensive evaluation.
What causes problem recognition in consumer A discrepancy between a person's current state and desired state.
behavior?
What psychological process occurs when buyers Selective distortion.
ignore negative information to justify their
purchase?
Who controls the flow of information in a B2B Gatekeeper.
buying center?
Major components of the Black Box Model Marketing stimuli; buyer's black box; buyer's response.
Purpose of market segmentation To divide the market into groups with similar needs or characteristics.
What makes a segment actionable? The firm can create effective programs to serve the segment.
Requirement for successful positioning Creating a clear, distinct, desirable place in consumers' minds.
Goal of differentiation To create value by making a product meaningfully different from
competitors.
,What does the multi-attribute attitude model How consumers evaluate a product based on weighted attributes.
explain?
Definition of selective attention The process of screening out most information and noticing only
certain messages.
Definition of selective retention Remembering only information that supports existing beliefs.
Purpose of a value proposition To summarize why a consumer should buy and what unique value is
offered.
Definition of cognitive dissonance Discomfort caused by post-purchase conflict or uncertainty.
Role of an influencer in B2B buying Affects the decision by providing information or expertise.
When do profits peak in the product life cycle? Growth stage.
Definition of cost-plus pricing Adding a standard markup to production cost.
Definition of penetration pricing Setting a low price to quickly enter a market and attract buyers.
Definition of skimming pricing Setting a high initial price to maximize revenue from early adopters.
Goal of promotion in the marketing mix To communicate value and persuade consumers to buy.
, Definition of primary demand advertising Stimulates demand for an entire product category.
Main advantage of market research Reduces uncertainty with data-driven insights
Purpose of a perceptual map Visualizes consumer perceptions of brands based on attributes.
Convenience vs. shopping products Convenience = frequent, low effort; Shopping = comparison and
evaluation required.
Role of the decider in B2B buying Has final authority to choose the supplier.
L'Oréal's AI-driven Skin Genius tool analyzes Customer retention.
selfies to recommend personalized skincare. This
supports which profitability driver?
What strategy did PepsiCo use to inform product Analysis of online social media conversations and trend signals.
development for Bubly sparkling water?
How can AI contribute to customer acquisition? Personalize marketing messages based on individual customer
preferences.
How does AI help in new product development Provides insights to track shifting preferences and identify new
and brand management? opportunities.
