Strategic Initiatives And Consumer Behavior
This test will assess your applied understanding of the stages and benefits associated with the development of a corporate mission statement, alongside the consumer purchasing process and the factors that affect it.
Questions and Answers
- 1.
When consumers realize there is a difference between their current state and their desired state, they have entered the ______ stage of the buying process.
- A.
Need recognition
- B.
Search for information
- C.
Product evaluation
- D.
Product purchase
- E.
Post-purchase evaluation
Correct Answer
A. Need recognitionExplanation
When consumers become aware of the difference between their current state and their desired state, it indicates that they have recognized a need. This is the first stage of the buying process, where consumers identify a problem or a desire that needs to be fulfilled. Once they recognize this need, they will move on to the next stages of the buying process, such as searching for information, evaluating products, making a purchase, and evaluating their post-purchase experience.Rate this question:
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- 2.
Consumer Reports and Epinions.com aid consumers engaged in what step of the buying process?
- A.
Need recognition
- B.
Search for information
- C.
Product evaluation
- D.
Product purchase
- E.
Both b and c
Correct Answer
E. Both b and cExplanation
Consumer Reports and Epinions.com aid consumers in both the search for information and product evaluation steps of the buying process. Consumer Reports provides unbiased reviews and ratings on various products, helping consumers gather information and make informed decisions. Epinions.com is a platform where consumers can read and write reviews about products, contributing to the evaluation process. Therefore, both platforms play a role in assisting consumers in these two steps of the buying process.Rate this question:
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- 3.
Purchasing a product with no planning or forethought is called ____________.
- A.
High-involvement purchasing
- B.
Post-purchase dissonance
- C.
Impulse buying
- D.
Extended problem solving
Correct Answer
C. Impulse buyingExplanation
Impulse buying refers to the act of purchasing a product without any prior planning or forethought. It is characterized by spontaneous and unplanned decisions, often driven by emotions or immediate desires. Impulse buying can occur when a person is influenced by factors such as attractive packaging, sales promotions, or the desire for instant gratification. This behavior is typically associated with low-involvement purchases, where the consumer does not invest much time or effort in the decision-making process.Rate this question:
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- 4.
________ are temporary conditions that affect how buyers behave.
- A.
Situational influences
- B.
Subliminal advertisements
- C.
Opinions
- D.
Mental positions
Correct Answer
A. Situational influencesExplanation
Situational influences refer to temporary conditions that can impact how buyers behave. These influences include factors such as the physical environment, social surroundings, time constraints, and the buyer's mood or momentary needs. For example, a buyer may be more likely to make an impulse purchase if they are in a crowded store with enticing displays and limited time. These situational factors can significantly affect consumer behavior and decision-making processes.Rate this question:
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- 5.
Al, the grocery store manager, puts the bread in aisle #1 and the milk next to aisle #10. He is controlling his store's ____ to increase the time his customers spend in the store, which will hopefully translate into increase sales.
- A.
Motivation
- B.
Atmospherics
- C.
Mood
- D.
Time sensitive situation
Correct Answer
B. AtmosphericsExplanation
Al, the grocery store manager, strategically places the bread in aisle #1 and the milk next to aisle #10. This is an example of atmospherics, which refers to the manipulation of the physical environment in a way that influences consumer behavior. By placing these commonly purchased items in different locations, Al is creating a longer shopping journey for his customers. This can increase the time customers spend in the store, giving them more opportunities to make additional purchases and ultimately boosting sales.Rate this question:
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- 6.
Situational factors that affect people's buying behavior include all of the following EXCEPT _________.
- A.
The consumer's lifestyle
- B.
The consumer's mood
- C.
The reason for the consumer's purchase
- D.
The consumer's social situation
- E.
The consumer's physical situation
Correct Answer
A. The consumer's lifestyleExplanation
Situational factors that affect people's buying behavior include the consumer's mood, the reason for the consumer's purchase, the consumer's social situation, and the consumer's physical situation. However, the consumer's lifestyle is not considered a situational factor. Lifestyle is a more long-term and stable characteristic that influences consumer behavior, whereas situational factors are temporary and specific to a particular purchase occasion.Rate this question:
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- 7.
Describe the components of a situational analysis. Be certain to explain each step in the process, its purpose, and the type of information collected.
- 8.
A firm's ___________ states the purpose of the organization and why it exists.
- A.
Marketing plan
- B.
Vision statement
- C.
Value proposition
- D.
Mission statement
Correct Answer
D. Mission statementExplanation
A firm's mission statement is a concise statement that defines the purpose and reason for the organization's existence. It outlines what the company aims to achieve and the overall direction it wants to take. A mission statement helps to guide the company's actions and decisions, providing a clear focus and sense of purpose for employees and stakeholders. It also communicates the company's values and goals to customers and the public, helping to build trust and loyalty.Rate this question:
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- 9.
Four-Fifteen, a small tax preparation firm is considering expanding its services. Several clients have mentioned that they are inundated with paper. They don't know what documents to keep, for how long or where. One of the staff is suggesting that the firm branch into the home organization business. The principal of this firm has asked you if Four-Fifteen should consider expanding. Your reply unequivocally that the addition of any services needs to be consistent with the firm's mission. The owner has asked you to submit a proposal for a mission- and vision-building workshop. You need to explain the process, strategies and people associated with developing a mission and vision. You also need to elaborate on the benefits associated with developing a mission and vision, and how it will help Four-Fifteen determine the services it should offer going forward.
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