MGT 107 Exam with verified detailed ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
solutions
Consumer Behavior ||\\//||
The totality of consumers' decisions with respect to the acquisition, consumption, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disposition of goods, services, time, and ideas by human decision-making units (over time). ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
what is an offering? ||\\//|| ||\\//|| ||\\//||
a product, service, activity, or idea offered by a marketing organization to consumers
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
what are some of the factors in the psychological core that affect consumer decisions and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
behavior?
any prior exposure/knowledge (and retrieval); their motivations, ability, and opportunity;
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
attention, perception, memory and attitude about an offering ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
^ tied to problem recognition, if they need to do an info search, their decision making, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
their postpurchase evaluation
||\\//|| ||\\//||
What aspects of the consumer's culture influence decisions and behavior?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
through the symbolic use of products and the diffusion of ideas, products, or services
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
through a market; also issues of ethics and social responsibility
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
marketing
,the activity, set of institutions, and processes for creating, communicating, delivering, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
exchanging offerings that have value for customers, clients, partners, and society. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
how can public policy decision makers, advocacy groups, and marketing managers use
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
consumer research? ||\\//||
- FTC FCC -> input on privacy issues and regulations
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- developing policies and rules to protect consumers from unfair, unsafe, or inappropriate
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
practices
- need to design/modify an offering
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- learn when/how product meets needs of consumers
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- how to differentiate between competitors
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- making decisions about packaging and logos
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- provide tools for more informed decision-making
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What kinds of marketing questions can companies use consumer behavior research to
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer?
how a market is segmented?
||\\//|| ||\\//|| ||\\//|| ||\\//||
how profitable is each segment?
||\\//|| ||\\//|| ||\\//|| ||\\//||
what are characteristics of consumers in each segment?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
are customers satisfied with existing offerings?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
ideas for new products? ||\\//|| ||\\//|| ||\\//||
What can be added to existing offerings? ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
not questions but:
||\\//|| ||\\//||
,- understand how product is positioned in consumer's minds
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
make decisions about promotional/marketing communications tools||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
effectiveness of an ad ||\\//|| ||\\//|| ||\\//||
how can you benefit from studying consumer behavior?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
be a more conscious consumer
||\\//|| ||\\//|| ||\\//|| ||\\//||
more user-friendly products ||\\//|| ||\\//||
understand the economy ||\\//|| ||\\//||
answer societal questions like "is marketing harmful"? ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
correlation
A measure of the relationship between two variables
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
causation
A cause and effect relationship in which one variable controls the changes in another
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
variable.
general steps in an experiment ||\\//|| ||\\//|| ||\\//|| ||\\//||
- take different people -> do different things -> compare outcomes
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
DV -> dependent variable, IV -> independent variable
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1) random assign people/day -> either control or treatment group
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2) groups -> different level of IV (cause)
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, control group -> "status quo" not interfering, treatment group -> adding something else
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3) measure the DV
||\\//|| ||\\//|| ||\\//||
4) compare DV btwn groups
||\\//|| ||\\//|| ||\\//|| ||\\//||
- see any differences in DV? -> b/c of IV
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Ways to measure dependent variable (DV) ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1) open-ended question
||\\//|| ||\\//||
2) survey scales
||\\//|| ||\\//||
3) observing behavior
||\\//|| ||\\//||
4) biological markers
||\\//|| ||\\//||
open-ended questions ||\\//||
use words to describe experience, feelings, and reactions
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- usually face-to-face
||\\//|| ||\\//||
- two types: in-depth, focus groups
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
advantages and disadvantages of open-ended questions ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
advantages:
go deep, adapt questions based on answers, generate new ideas/new hypotheses, nuanced
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
topics, focus groups can see things in a social context ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disadvantages:
solutions
Consumer Behavior ||\\//||
The totality of consumers' decisions with respect to the acquisition, consumption, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disposition of goods, services, time, and ideas by human decision-making units (over time). ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
what is an offering? ||\\//|| ||\\//|| ||\\//||
a product, service, activity, or idea offered by a marketing organization to consumers
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
what are some of the factors in the psychological core that affect consumer decisions and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
behavior?
any prior exposure/knowledge (and retrieval); their motivations, ability, and opportunity;
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
attention, perception, memory and attitude about an offering ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
^ tied to problem recognition, if they need to do an info search, their decision making, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
their postpurchase evaluation
||\\//|| ||\\//||
What aspects of the consumer's culture influence decisions and behavior?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
through the symbolic use of products and the diffusion of ideas, products, or services
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
through a market; also issues of ethics and social responsibility
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
marketing
,the activity, set of institutions, and processes for creating, communicating, delivering, and
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
exchanging offerings that have value for customers, clients, partners, and society. ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
how can public policy decision makers, advocacy groups, and marketing managers use
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
consumer research? ||\\//||
- FTC FCC -> input on privacy issues and regulations
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- developing policies and rules to protect consumers from unfair, unsafe, or inappropriate
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
practices
- need to design/modify an offering
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- learn when/how product meets needs of consumers
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- how to differentiate between competitors
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- making decisions about packaging and logos
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- provide tools for more informed decision-making
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
What kinds of marketing questions can companies use consumer behavior research to
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
answer?
how a market is segmented?
||\\//|| ||\\//|| ||\\//|| ||\\//||
how profitable is each segment?
||\\//|| ||\\//|| ||\\//|| ||\\//||
what are characteristics of consumers in each segment?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
are customers satisfied with existing offerings?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
ideas for new products? ||\\//|| ||\\//|| ||\\//||
What can be added to existing offerings? ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
not questions but:
||\\//|| ||\\//||
,- understand how product is positioned in consumer's minds
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
make decisions about promotional/marketing communications tools||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
effectiveness of an ad ||\\//|| ||\\//|| ||\\//||
how can you benefit from studying consumer behavior?
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
be a more conscious consumer
||\\//|| ||\\//|| ||\\//|| ||\\//||
more user-friendly products ||\\//|| ||\\//||
understand the economy ||\\//|| ||\\//||
answer societal questions like "is marketing harmful"? ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
correlation
A measure of the relationship between two variables
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
causation
A cause and effect relationship in which one variable controls the changes in another
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
variable.
general steps in an experiment ||\\//|| ||\\//|| ||\\//|| ||\\//||
- take different people -> do different things -> compare outcomes
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
DV -> dependent variable, IV -> independent variable
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1) random assign people/day -> either control or treatment group
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
2) groups -> different level of IV (cause)
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
, control group -> "status quo" not interfering, treatment group -> adding something else
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
3) measure the DV
||\\//|| ||\\//|| ||\\//||
4) compare DV btwn groups
||\\//|| ||\\//|| ||\\//|| ||\\//||
- see any differences in DV? -> b/c of IV
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
Ways to measure dependent variable (DV) ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
1) open-ended question
||\\//|| ||\\//||
2) survey scales
||\\//|| ||\\//||
3) observing behavior
||\\//|| ||\\//||
4) biological markers
||\\//|| ||\\//||
open-ended questions ||\\//||
use words to describe experience, feelings, and reactions
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
- usually face-to-face
||\\//|| ||\\//||
- two types: in-depth, focus groups
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
advantages and disadvantages of open-ended questions ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
advantages:
go deep, adapt questions based on answers, generate new ideas/new hypotheses, nuanced
||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
topics, focus groups can see things in a social context ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//|| ||\\//||
disadvantages:
