Consumer markets and consumer behaviour
What is the term used to describe the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors?
Which of the following factors does NOT influence consumer buying behavior?
Cultural factors
Social factors
Psychological factors
Economic factors
What is the term used to describe the process of gathering, analyzing, and interpreting data about a market, product, or service?
Market research
Marketing strategy
Product development
Sales forecasting
Which of the following is an example of a convenience product?
Toothpaste
Luxury car
Designer handbag
Smartwatch
What is the term used to describe the process of creating, distributing, promoting, and pricing goods, services, and ideas to satisfy customer needs and achieve organizational objectives?
Marketing
Advertising
Sales
Public relations
Which of the following is NOT a stage in the consumer decision-making process?
Need recognition
Information search
Purchase decision
Post-purchase behavior
What is the term used to describe the degree to which a product or service meets or exceeds customer expectations?
Customer satisfaction
Brand loyalty
Market share
Competitive advantage
Which of the following is an example of a psychological pricing strategy?
Charm pricing
Cost-plus pricing
Penetration pricing
Dynamic pricing
What is the term used to describe the process of influencing individuals or groups to purchase a particular product or service?
Persuasion
Negotiation
Selling
Branding
Which of the following is NOT a factor that influences consumer perception?
Personal experiences
Cultural background
Social media
Advertising
What is the term used to describe the process of developing and maintaining long-term relationships with customers?
Customer relationship management
Customer retention
Customer satisfaction
Customer acquisition
Which of the following is an example of a secondary data source?
Government census
Focus group
Survey questionnaire
Experiment
What is the term used to describe the process of introducing a new product into the market?
Product launch
Market penetration
Product development
Market expansion
Which of the following is NOT a characteristic of an impulse purchase?
Planned
Spontaneous
Unplanned
Emotional
What is the term used to describe the set of values, norms, attitudes, and behaviors shared by a group of people and passed down from one generation to the next?
Culture
Subculture
Social class
Reference group
What is the term used to describe the process of evaluating and selecting alternatives based on desired outcomes?
Decision-making
Problem-solving
Risk assessment
Opportunity analysis
What is the term used to describe the process of gathering information about competitors' products, prices, and marketing strategies?
Competitive analysis
Market segmentation
SWOT analysis
Marketing research
Which of the following is an example of a situational factor influencing consumer behavior?
Time pressure
Personality traits
Social norms
Cultural values
What is the term used to describe the process of creating a unique name, symbol, or design that identifies and differentiates a product or service from others in the market?
Branding
Positioning
Advertising
Packaging
Which of the following is NOT a type of consumer buying decision?
Routine response behavior
Limited decision-making
Extensive decision-making
Impulsive decision-making
What is the term used to describe the process of changing consumers' attitudes or behaviors towards a product or service?
Persuasion
Segmentation
Differentiation
Positioning
What is the term used to describe the process of setting prices based on the perceived value of a product or service to customers?
Value-based pricing
Cost-based pricing
Competition-based pricing
Penetration pricing
Which of the following is NOT a factor that influences the diffusion of innovation?
Relative advantage
Compatibility
Complexity
Price
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