SPMT 370 Waltemyer Unit 1 test Questions and Answers 100% Pass

SPMT 370 Waltemyer Unit 1 test Questions and Answers 100% Pass Course Behavior - ANSWER -is a dynamic process, that can involve many people, involves many decisions, and involves consumer emotions consumer behavior as a field of study - ANSWER -study of consumers as they go about the consumption process; the science of studying how consumers seek value in an effort to address real needs Segmentation Types - ANSWER -Behavior, Demographic, Psychographic Behavior segmentation type - ANSWER -Need-based, discount, new, and potential Demographic - ANSWER -Age, race/ethnicity, social class/income, sex/gender Psychographic - ANSWER -Believer, Experiencer, Innovator, Impulsive, Socialite, Wanderer Touchpoint - ANSWER -direct contacts between the firm and a customer What affects consumer behavior? - ANSWER -External influences, internal influences, decision making process, outcomes and issues What are the approaches to studying consumer behavior? - ANSWER -Description, Explanatory, and Exploratory (Quantitative- survey/questionnaire Qualitative- Ethnography, interviews, focus groups, secret shoppers) What does STP stand for? - ANSWER -Segmentation, Targeting, Positioning why is consumer behavior dynamic? - ANSWER -Economy, technology, and globalization 2 | P a g e Created by ©EmilyCharlene 2025. All rights reserved. Consumer behavior theory - ANSWER -illustrates factors that shape consumption-related behaviors and determine the value associated with consumption What is consumption? - ANSWER -the process by which consumers use and transform products into value Value= - ANSWER -benefits - costs Utilitarian Value - ANSWER -a value derived from a product or service that helps the consumer solve problems and accomplish tasks Hedonic Value - ANSWER -value derived from the gratification that comes from some task Total value concept (TVC) - ANSWER -practiced when companies operate with the understanding that products provide value in multiple ways TVC - ANSWER -Every produts value proposition is made up of the augmented elemets, plus the ancillary elements 4 P's - ANSWER -Product, Price, Place, Promotion Product Differentiation - ANSWER -creating and designing products so that customers perceive them as different from competing products product positioning - ANSWER -the way a product is designed to create a perception in the mind of the consumer Perceptual map - ANSWER -the tool used to graphically depict the positioning of competing products Blue Ocean Strategy - ANSWER -positioning a firm far away from competitors' positions so that it creates an industry of its own and, at least for a time, isolates itself from competitors 3 | P a g e Created by ©EmilyCharlene 2025. All rights reserved. Consumer personality - ANSWER -individual characteristics (motivation, values, personality, lifestyle, self-image, and emotions) consumer psychology - ANSWER -processes of the mind (attitudes, learning, perceptions, memory) Motivation - ANSWER -inner reasons that provide energy needed to achieve a goal Regulatory focus theory - ANSWER -consumer behavior is centered around two primary orientations (Homeostasis and Self Improvement) Homeostasis - ANSWER -prevention focused (Utilitarian) Self-improvement - ANSWER -Promotion focused (Hedonic) Are sport products a want or need? - ANSWER -they are a want