Question 1

Which of the following statements does NOT hold true for cross-shopping?

Accepted Answer

Because customers have multiple yet conflicting needs,needs cannot be satisfied by one store or one type of store.

Question 2

The multiattribute attitude model is designed to:

Accepted Answer

The multiattribute model is based on the notion that customers see a retailer as a collection of attributes.The model is designed to predict a customer's evaluation of a product,retailer,or channel on the basis of (1)its performance on relevant attributes and (2)the importance of those attributes to the customer.

Question 3

Amanda considers shopping to be a game.She goes shopping because she enjoys finding bargains and discounts.Amanda is always on the lookout for special offers and discounts.Hence,Amanda's hedonic needs are satisfied by a sense of:

Accepted Answer

Often,consumers go shopping because they enjoy finding bargains,looking for sales,and finding discounts or low prices.They treat shopping as a game to be "won."

Question 4

The pattern of buying both premium and low-priced merchandise or patronizing both status-oriented retailers and price-oriented retailers is called _____.

Accepted Answer

This is the definition of cross-shopping which is also a conflicting need.

Question 5

Before purchasing his son's shoes,Lamar evaluated the following stores: Boot World,Terence's Shoe Palace,Imperial Collection,Royal Shoe Store,and Leather World.Which is the term used to describe these stores that are being evaluated by Lamar?

Accepted Answer

Retailers need to be included in the customer's consideration set,or the set of alternatives the customer evaluates when making a choice of a retailer to patronize.

Question 6

Which of the following is used by a customer when making a choice of a retailer to patronize?

Accepted Answer

The consideration set is the set of alternatives the customer evaluates when making a choice of a retailer to patronize.

Question 7

An issue of Consumer Reports,a magazine that evaluates brands of table saws,would serve as a source of _____ as it provides Lewis with useful knowledge about available features,convenience of use,and machine quality.

Accepted Answer

External sources consist of information provided by a host of sources.People search for products and information using search engines such as Google,visit the websites maintained by manufacturers and retailers,acquire information from traditional media (e.g. ,advertising),read blogs,watch product demonstrations on YouTube,and ask friends,in person and through social media.

Question 8

Which of the following steps follows the recognition of a need?

Accepted Answer

Once customers identify a need,they typically seek information about retailers,channels,or products to help them satisfy that need.

Question 9

While eating may satisfy a functional need,Lucia's Italian Restaurant features gurgling fountains,live music,Baroque paintings,and lush gardens to stroll while you wait.Which of the following needs is also satisfied while eating at Lucia's?

Accepted Answer

This describes how retailers create a stimulating experience to encourage consumers to take a break and enjoy their experience at the place of business which supports the hedonic need.

Question 10

Gabriella needs copper wire to make hanging candle lanterns out of antique glass canisters.Based on her previous craft projects,she feels she would find this particular type of wire at Michael's,a large arts and crafts store.Gabriella is relying on a(n)_____ source for her buying situation.

Accepted Answer

Internal sources are information in a customer's memory,such as names,images,and past experiences with different stores.The major source of internal information here is the customer's past shopping experience.

Question 11

Conversion rate can be described as:

Accepted Answer

Conversion rate is the percentage of customers who enter a store or access a website and then buy a product from that same store or website site.

Question 12

Which of the following is NOT true of the amount of information searched by customers?

Accepted Answer

Customers who have prior experience purchasing and using the product or service tend to search less.

Question 13

The imminent approach of Halloween pushes millions of homeowners to go out and purchase candy corn.Halloween stimulates a(n)_____ which forms a part of the buying process.

Accepted Answer

Customers must first recognize unsatisfied needs before they are motivated to visit a store or go online to buy merchandise.Sometimes these needs are stimulated by an event in a person's life.

Question 14

In order to develop a multiattribute attitude model of its customers,a retailer should gather information about all of the following EXCEPT:

Accepted Answer

All of these are collected by market research when developing a multiattribute attitude model except the information of age,income,and education.The model focuses on attitudes,not demographic information.

Question 15

Which of the following statements is true of the information search carried out by customers?

Accepted Answer

The amount of information search is affected by (1)characteristics of the individual customer and (2)aspects of the market and buying situation in which the purchase is made.Some people search more than others.Shoppers seeking hedonic benefits typically spend more time collecting information and shopping because they enjoy the process.Customers who have prior experience purchasing and using the product or service tend to search less.

Question 16

In order to get into a customer's consideration set,a retailer should:

Accepted Answer

To be included in the consideration set,retailers develop programs to increase the likelihood that customers will remember them when they're about to go shopping.Retailers can increase customer awareness through communication and location decisions.

Question 17

Calvin enjoys dining at Dawson's,a fast food restaurant.He feels that they make the best french-fries for a low price.However,when it comes to dessert,he feels he's a cake connoisseur.He prefers to have cake only at Marina's Patisserie,even though a piece of cake costs $7.00.Calvin's patronizing of Dawson's and Marina's demonstrates a behavior called:

Accepted Answer

Having conflicting needs and purchasing both premium and budget products or services describes cross-shopping.

Question 18

A retailer that uses an everyday low pricing (EDLP)policy:

Accepted Answer

Everyday low pricing policies tend to limit the customer information search to the retailer's offering.

Question 19

If you were to ask Roland to recommend a restaurant in Charleston,South Carolina,he would tell you to go to Brendon's,The Paradise Hotel,or Linda's Dinner Bar.There are obviously many restaurants in Charleston,but these form a part of Roland's:

Accepted Answer