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- Which of the following describes human wants that are backed by buying power? Question 13 options: A) Opportunity B) Demand C) Supply D) SearchQ1. “Understanding of consumer decision process is very important for marketers. They can create/modify suitable strategies for targeting and servicing customers based on this understanding. This may be the difference between a successful brand and an unsuccessful one." What are the implications of different steps of consumer decision process for the marketers?7 Does a firm have the right to “create” wants and try to persuade consumers to buy goods and ser- vices they didn’t know about earlier? What are ex- amples of “good” and “bad” want creation? Who should decide what is good and what is bad?
- QUESTION 13 List and define the major types of buying decision behavior and the stages in the buyer decision process, explain with ExamplesQ6) Explain Market Segmentation Theory.Written Questions Q 1. How do consumer personal characteristics influence buying behaviour? Q 2. What major psychological processes influence consumer responses to the marketing program? Q 3. What buying situations do organizational buyers face Q 4. Who participates in the business-to-business buying process
- Q.Which stage of the consumer decision process does tension typically occur? 1. Recognize a problem or need 2. Search for information 3. Evaluate and compare options 4. Make the purchase 5. Evaluate the purchase decisionWhich of the following statements about the University of Michigan consumer sentiment survey is not true? Question 5 options: It tracks the percentage of people that are optimistic about current and future economic conditions. It surveys are only sent to households within the 48 states in the continental U.S. It surveys 500 households each month. It includes consumer attitude data about current and future economic conditions.1. A market researcher company requested all teachers of a school to fill up a questionnaire in relation to their product market study. The following are some of the information supplied by the teachers: • highest educational attainment• predominant hair color• civil status • brand of laundry soap being used• total household expenditures last month in pesos• number of children in the household • number of hours standing in queue while waiting to be served by a bank teller• amount spent on rice last week by the household• distance travelled by the teacher in going to school• time (in hours) consumed on Facebook on a day. Question: If we are to consider the collection of information gathered through the completed questionnaire, what is the universe for this data set? 2. Refer to problem number 1. Which of the variables are qualitative? 3. Refer to problem number 1. Which of the variables are quantitative? Classify further as discrete or continuous.
- Problem 1: Identify three product or service categories other than books, video, and music where the “Long Tail” appears to be an important factor online. For each of your examples. point out which of Anderson’s causal factors seem to be important. Problem 2: Brynjolfsson et. al.’s model of consumer surplus provides a quantitative measure of the value of the Long Tail. Outline a method, and the kind of data that you would want, in order to apply this model to one of your examples in part 1. Problem 3: Still using the Brynjolfsson model, are there any scenarios where increasing the online product assortment might actually reduce surplus? The Long Tail, Chris Anderson, (2006), “Ch. 1: The Long Tail,â€Â pp. 15-26.  “Ch. 3: A Short History of the Long Tail,†pp. 41-51, “Ch. 4: The Three Forces of…Q) Use the Multi-attribute model to explain how a marketing manager of MG can change consumer’s attitude towards company’s brand by; Capitalizing on Relative Advantage Strengthening Perceived Linkages Adding a New Attribute Influencing Competitor’s Ratings Use this comparison to strengthen your answer Attributes Importance Proton-SAGA MG- 5 Toyota – Yaris Comfort 6 7 9 10 Value for money 10 9 10 8 Styling 7 8 9 8 Road-Safety 9 9 9 7 Drive 6 7 8 8 Engine 5 7 8 10 Durability 8 6 7 10 Maintenance 4 5 5 7 Total 414 462 4651. From the 6 advertisements provided in the image, create an experimental design (using "X's" and "O's") for the marketing experiment. When providing the answer, mention what is/your factor/s, what type of factor/s is/are it/they, what are the factor levels, what is your dependent variable, etc. Number of factor/s and factor name/s: Type of factor/s: Factor levels for the factor/s: Dependent variable: Experimental design (using X's and O's):