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MKTG 311 MIDTERM 1 QUESTIONS WITH CORRECT ANSWERS

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MKTG 311 MIDTERM 1 QUESTIONS WITH CORRECT ANSWERS

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consumer behavior model


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environment (product, price, place, promotion, economic, technological,
social, cultural) --> buyer's black box (characteristics and decision process)
--> buyer responses (buying attitudes and preferences, purchase behavior,
brand and company relationship behavior)




buyer decision process


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five stages:
need recognition
information search
evaluation of alternatives

, purchase decision
postpurchase behvaior




political environment


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laws, government agencies and pressure groups that influence and limit
various organizations and individuals in a given society
increasing legislation to protect consumers, companies and the interests of
society
new agencies with tougher enforcement




marketing research


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the systematic design, collection, analysis and reporting of data relevant to
a specific marketing situation facing an organization
3 kinds: exploratory, descriptive and casual




SWOT


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overall evaluation of the company's internal strengths and weaknesses and
external opportunities and threats

,target market levels


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undifferentiated
differentiated
concentrated
micromarketing




economic environment


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economic factors that affect consumer purchasing power and spending
patterns
spending: more about value
income distribution: growingly tiered market




undifferentiated marketing


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a market coverage strategy in which a firm decides to ignore market
segment differences and go after the whole market with one offer




microenvironment


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, the actors (company, suppliers, marketing intermediaries, customer
markets, competitors, and publics) close to the company that affect its
ability to serve its customers




marketing intermediaries


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firms that help the company to promote, sell and distribute its goods to
final buyers




marketing programs


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Frequency marketing programs: reward frequent customers
Club marketing programs: offer members special benefits and create
member communities




consumer behavior characteristics


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cultural
social
personal
psychological

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August 7, 2026
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