Question 1

Age, gender, family structure social class, race, ethnicity and income are all used ________.
A) to divide a market
B) as part of promotion
C) in social media
D) as part of the marketing mix

Accepted Answer

These are demographic and socio-economic factors used to segment a market, allowing companies to target specific groups of consumers more effectively.

Question 2

People who belong to the same social class are most likely to have which of the following in common?
A) social standing in the community
B) personality
C) ethnicity
D) family structure

Accepted Answer

Social class is primarily determined by economic status, which in turn influences social standing in the community. People within the same social class tend to have similar lifestyles, opportunities, and social circles, contributing to a comparable social standing. Personality, ethnicity, and family structure can vary widely within a social class.

Question 3

Why is age a common demographic category used in understanding consumer behavior?
A) Different age groups have different wants and needs.
B) Age is easier to categorize than gender.
C) Generational groups tend to be similar.
D) All of the above.

Accepted Answer

Different age groups have different wants and needs, which influences their consumer behavior.

Question 4

Explain the difference between a need and a want?

Accepted Answer

The answer of Explain the difference between a need and...

Question 5

American society is shifting from a mass culture, in which many consumers share the same preferences, to a diverse culture in which consumers have almost an infinite number of choices.

Accepted Answer

The rise of digital media, globalization, and increased individualism have contributed to a shift from a homogenous mass culture to a more fragmented and diverse culture, where consumers have access to a vast array of choices tailored to their specific preferences and interests.

Question 6

Walmart tracks the habits of the 100 million customers who visit its stores each week and responds with products and services directed toward those customers' needs based on the information collected. This is an example of ________ marketing.
A) undifferentiated
B) database
C) relationship
D) consumer-generated

Accepted Answer

Walmart's strategy of tracking customer habits and responding with tailored products and services is an example of database marketing, which involves collecting, analyzing, and leveraging customer information to drive sales and improve customer relationships.

Question 7

The 80/20 rule states that 80 percent of consumers will use 20 percent of the product.

Accepted Answer

The 80/20 rule, also known as the Pareto Principle, states that roughly 80% of the effects come from 20% of the causes. It is often applied to suggest that 80% of a company's sales come from 20% of its customers, not specifically about product usage as described.

Question 8

The way consumers feel about themselves, the things they value, and the things they like to do in their spare time are part of how marketers segment using ________.
A) gender
B) age
C) social class
D) lifestyle

Accepted Answer

Lifestyle segmentation involves dividing the market based on how consumers feel about themselves, their values, and their activities in their leisure time. This approach goes beyond basic demographics like gender, age, or social class to understand deeper aspects of consumer behavior and preferences.

Question 9

A need is something a person must have to live.

Accepted Answer

A need refers to something essential for survival, such as food, water, shelter, and clothing, without which a person cannot live.

Question 10

People who belong to the same social class are most likely to have which of the following in common?
A) income and social standing in the community
B) personality
C) ethnicity
D) family structure

Accepted Answer

People who belong to the same social class are most likely to share similar levels of income and social standing in the community, as these factors are key determinants of social class.

Question 11

Which marketing philosophy emphasizes interacting with customers on a regular basis and giving them reasons to maintain a bond with the company over time?
A) differentiated marketing
B) global marketing
C) social marketing
D) relationship marketing

Accepted Answer

Relationship marketing focuses on building and maintaining long-term relationships with customers, emphasizing regular interaction and engagement to foster loyalty and repeat business.

Question 12

Psychographics are used to measure ________.
A) social class
B) income
C) demographics
D) lifestyles

Accepted Answer

Psychographics are used to measure lifestyles, including interests, attitudes, and opinions, to understand consumer behavior better.

Question 13

The fact that people often buy products not for what the products do but for what they mean implies that a product's basic function is important.

Accepted Answer

The answer of The fact that people often buy products...

Question 14

Consumers who share demographic characteristics such as ethnicity and age can have very different lifestyles.

Accepted Answer

Consumers with similar demographic characteristics like ethnicity and age can still exhibit diverse lifestyles due to differences in personal interests, values, income levels, and life experiences.

Question 15

A person's marital status is important to which demographic variable?
A) gender
B) race
C) family structure
D) age

Accepted Answer

Marital status directly affects and is part of a person's family structure, as it indicates whether someone is single, married, divorced, or widowed, all of which are key components in defining family structure.

Question 16

What is relationship marketing? Why is it so widely practiced by today's marketers?

Accepted Answer

The answer of What is relationship marketing? Why is it...

Question 17

What is database marketing? Why is it so widely used by today's marketers?

Accepted Answer

The answer of What is database marketing? Why is it...

Question 18

What is database marketing? How is it used by consumers?

Accepted Answer

The answer of What is database marketing? How is it...

Question 19

Which term refers to the collection and analysis of extremely large data sets?
A) mainframe marketing data
B) internet information data
C) big data
D) online media data

Accepted Answer

Big data refers to the collection, processing, and analysis of very large datasets that cannot be handled by traditional data-processing software. It involves complex and large-scale data from various sources.

Question 20

Explain the concept of the 80/20 rule and why it is important to marketers.

Accepted Answer

The answer of Explain the concept of the 80/20 rule...

Quiz 1: Buying, Having, and Being: an Introduction to Consumer Behavior

Age, gender, family structure social class, race, ethnicity and income are all used ________.

People who belong to the same social class are most likely to have which of the following in common?

Why is age a common demographic category used in understanding consumer behavior?

Explain the difference between a need and a want?

American society is shifting from a mass culture, in which many consumers share the same preferences, to a diverse culture in which consumers have almost an infinite number of choices.

Walmart tracks the habits of the 100 million customers who visit its stores each week and responds with products and services directed toward those customers' needs based on the information collected. This is an example of ________ marketing.

The 80/20 rule states that 80 percent of consumers will use 20 percent of the product.

The way consumers feel about themselves, the things they value, and the things they like to do in their spare time are part of how marketers segment using ________.

A need is something a person must have to live.

People who belong to the same social class are most likely to have which of the following in common?

Which marketing philosophy emphasizes interacting with customers on a regular basis and giving them reasons to maintain a bond with the company over time?

Psychographics are used to measure ________.