HFT 4502 Exam 2 Questions and Answers Already Passed
What are the four marketing stimuli that enter the buyer's black box? - Answers Product, Price,
Place, Promotion.
What are examples of "other stimuli" that influence the buyer's black box besides marketing
stimuli? - Answers Economic, technological, political, and cultural factors.
What is the buyer's black box? - Answers The buyer's mind where marketing stimuli are
processed and buyer responses are formed.
What are the five possible buyer responses from the black box? - Answers Product choice,
brand choice, dealer choice, purchase timing, purchase amount.
What is made up of basic values, perceptions, and wants learned from society? - Answers
Culture.
What type of group is Pepsi Max "Uncle Drew" an example of? - Answers Aspirational group.
Which of the following is NOT a psychographic variable: Age, lifestyle, personality, or values? -
Answers Age.
Which of the following is NOT a demographic variable: Age, gender, lifestyle, or income? -
Answers Lifestyle.
Name the characteristics affecting consumer behavior. - Answers Cultural, social, personal,
psychological factors.
Define social class. - Answers Ordered divisions in a society whose members share similar
values, interests, and behaviors.
What is a subculture? - Answers A group of people with shared value systems based on
common life experiences and situations.
Name the types of reference groups. - Answers Primary (informal, regular interaction),
Secondary (formal, less regular), Aspirational (groups a person wishes to belong to).
Who are opinion leaders and how do they affect consumer behavior? - Answers People within a
reference group who exert influence due to skills, knowledge, or personality; they shape
attitudes and purchase decisions.
What are the five stages of the buyer decision process? - Answers Need recognition,
information search, evaluation of alternatives, purchase decision, post-purchase behavior.
What is the first stage of the buyer decision process? - Answers Need recognition.
What is post-purchase behavior? - Answers Actions and feelings after purchase, including
, satisfaction evaluation and reducing cognitive dissonance.
What is cognitive dissonance? - Answers Buyer discomfort caused by post-purchase conflict
(similar to buyer's remorse).
Example of a website illustrating the buyer decision process? - Answers TripTuner.
What is the family life cycle and why does it matter for marketers? - Answers The progression of
stages a family passes through (e.g., single, newly married, childbearing, empty nest) that
influences buying needs and decisions.
What is the market? - Answers All actual and potential buyers of a product.
What are the three stages of target marketing? - Answers Segmentation, targeting, positioning.
What is market segmentation? - Answers Dividing a market into smaller groups who might
require separate products or marketing mixes.
What is targeting? - Answers Evaluating each segment's attractiveness and selecting one or
more to enter.
What is positioning? - Answers Crafting a unique value proposition for each target segment.
What are the four segmentation bases? - Answers Demographic, Geographic, Psychographic,
Behavioral.
Name examples of demographic variables. - Answers Age, gender, family size, family life cycle,
income, occupation, education, religion, race, nationality.
Name examples of psychographic variables. - Answers Social class, lifestyle, personality.
Name examples of behavioral variables. - Answers Knowledge, attitudes, usage, response to a
product.
Name examples of geographic variables. - Answers Nations, states, regions, cities,
neighborhoods.
What are the four criteria for effective segmentation? - Answers Measurability, Substantiality,
Accessibility, Actionability.
Define measurability. - Answers The degree to which the segment's size and purchasing power
can be measured.
Define substantiality. - Answers The degree to which segments are large and profitable enough
to serve as markets.
Define accessibility. - Answers The degree to which segments can be reached and served
effectively.
What are the four marketing stimuli that enter the buyer's black box? - Answers Product, Price,
Place, Promotion.
What are examples of "other stimuli" that influence the buyer's black box besides marketing
stimuli? - Answers Economic, technological, political, and cultural factors.
What is the buyer's black box? - Answers The buyer's mind where marketing stimuli are
processed and buyer responses are formed.
What are the five possible buyer responses from the black box? - Answers Product choice,
brand choice, dealer choice, purchase timing, purchase amount.
What is made up of basic values, perceptions, and wants learned from society? - Answers
Culture.
What type of group is Pepsi Max "Uncle Drew" an example of? - Answers Aspirational group.
Which of the following is NOT a psychographic variable: Age, lifestyle, personality, or values? -
Answers Age.
Which of the following is NOT a demographic variable: Age, gender, lifestyle, or income? -
Answers Lifestyle.
Name the characteristics affecting consumer behavior. - Answers Cultural, social, personal,
psychological factors.
Define social class. - Answers Ordered divisions in a society whose members share similar
values, interests, and behaviors.
What is a subculture? - Answers A group of people with shared value systems based on
common life experiences and situations.
Name the types of reference groups. - Answers Primary (informal, regular interaction),
Secondary (formal, less regular), Aspirational (groups a person wishes to belong to).
Who are opinion leaders and how do they affect consumer behavior? - Answers People within a
reference group who exert influence due to skills, knowledge, or personality; they shape
attitudes and purchase decisions.
What are the five stages of the buyer decision process? - Answers Need recognition,
information search, evaluation of alternatives, purchase decision, post-purchase behavior.
What is the first stage of the buyer decision process? - Answers Need recognition.
What is post-purchase behavior? - Answers Actions and feelings after purchase, including
, satisfaction evaluation and reducing cognitive dissonance.
What is cognitive dissonance? - Answers Buyer discomfort caused by post-purchase conflict
(similar to buyer's remorse).
Example of a website illustrating the buyer decision process? - Answers TripTuner.
What is the family life cycle and why does it matter for marketers? - Answers The progression of
stages a family passes through (e.g., single, newly married, childbearing, empty nest) that
influences buying needs and decisions.
What is the market? - Answers All actual and potential buyers of a product.
What are the three stages of target marketing? - Answers Segmentation, targeting, positioning.
What is market segmentation? - Answers Dividing a market into smaller groups who might
require separate products or marketing mixes.
What is targeting? - Answers Evaluating each segment's attractiveness and selecting one or
more to enter.
What is positioning? - Answers Crafting a unique value proposition for each target segment.
What are the four segmentation bases? - Answers Demographic, Geographic, Psychographic,
Behavioral.
Name examples of demographic variables. - Answers Age, gender, family size, family life cycle,
income, occupation, education, religion, race, nationality.
Name examples of psychographic variables. - Answers Social class, lifestyle, personality.
Name examples of behavioral variables. - Answers Knowledge, attitudes, usage, response to a
product.
Name examples of geographic variables. - Answers Nations, states, regions, cities,
neighborhoods.
What are the four criteria for effective segmentation? - Answers Measurability, Substantiality,
Accessibility, Actionability.
Define measurability. - Answers The degree to which the segment's size and purchasing power
can be measured.
Define substantiality. - Answers The degree to which segments are large and profitable enough
to serve as markets.
Define accessibility. - Answers The degree to which segments can be reached and served
effectively.
