Market Analysis and Planning
Midterm Exam
Course Introduction
Market Analysis and Planning explores the foundational principles and methodologies used to evaluate market environments, identify opportunities, and develop effective marketing strategies. Students will learn to use qualitative and quantitative tools to assess consumer behavior, competitor positioning, and industry trends. The course emphasizes practical skills in gathering and interpreting market data, segmenting target audiences, and crafting data-driven marketing plans. Through case studies and real-world projects, students will gain hands-on experience in making strategic decisions that align with organizational goals and achieve a competitive advantage in diverse markets.
Recommended Textbook Consumer Behavior 9th Edition by J. Paul Peter
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Page 2
Chapter 1: Introduction to Consumer Behavior and Marketing Strategy
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Sample Questions
Q1) In the past,consumers received most of their information about products and services from traditional print and media advertising.
A)True
B)False
Answer: True
Q2) Which of the following is NOT true of marketing strategies?
A) Understanding consumers is a critical element in developing successful marketing strategies.
B) The essence of a marketing strategy is to understand markets, develop and implement superior strategies to attract and hold them profitably.
C) Marketing strategies cannot change what consumers think and feel about themselves.
D) Marketing strategies have a powerful force on consumers and society at large.
E) Marketing strategies are not unethical or inappropriate activities.
Answer: C
Q3) Long interviews and focus groups are the primary methods used in the _____ approach.
Answer: interpretive
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Chapter 2: A Framework for Consumer Analysis
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Q1) The Wheel of Consumer Analysis can be used to analyze the relationships of a company and its competitors with consumers in specific industries.
A)True
B)False
Answer: True
Q2) BRIEFLY describe the two mental processes that determine consumer perception
Answer: Consumer affect and cognition refer to two types of mental responses that consumers exhibit towards stimuli and events in their environment.Affect refers to their feelings about stimuli and events,such as whether they like or dislike a product.Affective responses can be favorable or unfavorable and vary in intensity.Cognition refers to the mental structures and processes involved in thinking,understanding,and interpreting stimuli and events.
Q3) Why is behavior of unique and critical concern to the marketer?
Answer: Behavior is observable (overt).As the only element of consumer marketing activity that DIRECTLY contributes to sales and profits,behavior is obviously the critical factor in marketing.The marketer continually seeks to influence behavior through impacting consumer affect and cognition,monitors the behavioral results of those efforts,and adjusts if necessary.
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4
Chapter 3: Introduction to Affect and Cognition
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Sample Questions
Q1) Which of the following affective responses produces the highest level of physiological arousal?
A) Specific feelings
B) Emotions
C) Evaluation
D) Moods
E) Beliefs
Answer: B
Q2) Integration processes are useful in making only purchasing behavior choices.
A)True
B)False
Answer: False
Q3) The affective and cognitive systems involve the same parts of the brain.
A)True
B)False
Answer: False
Q4) Consumers have little control over the process of _____,which occurs unconsciously and automatically.
Answer: spreading activation
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Chapter 4: Consumers Product Knowledge and Involvement
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Q1) Involvement is affected by product knowledge.
A)True
B)False
Q2) In principle,marketers can analyze consumers' involvement with virtually anything.
A)True
B)False
Q3) Product form is used to describe various brands of a single seller that are similar in some way.
A)True
B)False
Q4) In the short run,consumers' intrinsic self-relevance for a product or brand is easy to modify.
A)True
B)False
Q5) Briefly describe the two types of consequences which the marketers should recognize in consumers who often think about products and brands in terms of their consequences than their attributes.
Q6) Briefly explain what is meant by a means-end chain.
Q7) _____ represent tangible,physical characteristics of a product.
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Chapter 5: Attention and Comprehension
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Sample Questions
Q1) Consumers often use intangible,abstract product attributes as cues in making inferences about more abstract attributes,consequences,and values.
A)True
B)False
Q2) As the consumer interpretation moves toward focal levels of attention all the following occur EXCEPT:
A) cognitive capacity becomes nonexistent.
B) attention is largely controlled by the consumer.
C) affective responses usually become more intense.
D) consumers become more aware of paying attention to stimulus.
E) comprehension begins to involve sense-making processes for constructing meaning.
Q3) If consumers' comprehension focuses on more abstract meanings,which of the following statement is true?
A) Comprehension may be automatic.
B) The level of comprehension may be deep.
C) Comprehension may be less elaborate.
D) The memorability of comprehension may be low.
E) Comprehension may be more controlled.
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Chapter 6: Attitudes and Intentions
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Q1) Belief strength may be increased by offering free product samples.
A)True
B)False
Q2) Briefly describe the basic assumptions,applications,and limitations of the multiattribute attitude model.
Q3) Briefly describe/critique the theory of reasoned action.
Q4) Behavioral intention is a proposition which connects the self with a future action.
A)True
B)False
Q5) _____ are created through a choice/decision process in which beliefs about two types of consequences are considered and integrated to evaluate alternative behaviors and select among them.
Q6) Activated beliefs are described as:
A) selective exposure.
B) attitudes.
C) purchase intentions.
D) prominent stimuli.
E) salient beliefs.
Q7) A company can _____ brand equity by purchasing brands that already have equity.
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Chapter 7: Consumer Decision Making
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Q1) _____are the alternative behaviors that consumers consider in the problem-solving process.
Q2) A rank ordering of acceptance criteria,based on their importance to the consumer,is used to select the best choice alternative under the:
A) elimination by aspects model.
B) multiattribute model.
C) conjunctive model.
D) disjunctive model.
E) lexicographic model.
Q3) What are heuristics?
Q4) The outcome of the integration process is a _____,represented cognitively as a behavioral intention.
Q5) A compensatory strategy might be used to quickly reduce the choice alternatives to a manageable number by rejecting those that lack a conjunctive strategy.
A)True
B)False
Q6) _____ are simple "if ...,then ..." propositions that connect an event with an appropriate action.
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Chapter 8: Introduction to Behavior
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Q1) _____ includes locating the outlet,traveling to the outlet,and entering the outlet.
Q2) Consumers often learn purchase and use behaviors through observing others perform them.
A)True
B)False
Q3) Trade discounts and incentives are examples of push strategies.
A)True
B)False
Q4) All of the following statements about overt consumer behavior are true EXCEPT:
A) unlike covert behavior influences, overt behavior is a simple phenomenon.
B) overt behavior may be analyzed at many levels.
C) overt behavior can be observed directly and does not need to be inferred.
D) the impact of affect/cognitive influences upon behavior is not clearly understood.
E) the success of marketing strategies depends on changing overt behavior.
Q5) For low-price,low-involvement products,consumers often try them first and then decide whether they like them and will buy them again.
A)True
B)False
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Chapter 9: Conditioning and Learning Processes
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Q1) Which of the following is true about vicarious learning?
A) It does not impact affective responses.
B) It has little/no impact upon the adoption process.
C) It is a form of classical conditioning.
D) It allows consumers to learn effective behavior while avoiding the negative consequences of mistakes.
E) It is ineffective as a result of its impersonal nature.
Q2) The classical conditioning theory evolved from experiments conducted by:
A) Peters.
B) Skinner.
C) Gestalt.
D) Pavlov.
E) Freud.
Q3) Marketers do not employ operant conditioning to decrease the probability of a response.
A)True
B)False
Q4) Briefly describe the concept of shaping?
Q5) Explain discriminative stimuli?
Q6) Explain the marketing implications of classical conditioning.
Page 11
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Chapter 10: Influencing Consumer Behaviors
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Sample Questions
Q1) Marketers must gather consumer information,regardless of cost,in order to create effective strategies.
A)True
B)False
Q2) A firm that claims it makes contributions to charity for each coupon or refund certificate redeemed by consumers is using promotion for _____ purposes.
Q3) Briefly describe sales promotion and its characteristics and discuss the two basic forms of sales promotion.
Q4) Display allowances are forms of consumer promotions.
A)True
B)False
Q5) Affective strategies are primarily focused upon:
A) consumers' knowledge/meanings.
B) consumers' beliefs.
C) consumers' emotions, moods, feelings and evaluations.
D) consumers' overt behaviors.
E) consumers' covert behaviors.
Q6) _____ is the least effective form of sales promotion.
Q7) Modeling desired behaviors is often employed as part of a(n)_____ strategy.
Page 12
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Chapter 11: Introduction to the Environment
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Q1) The physical environment can be divided into _____ and _____ elements.
Q2) Consumers in different subcultures or social classes have quite different means-end chains concerning a product.Such differences make macro social environments useful for market segmentation.
A)True
B)False
Q3) All of the following statements about a situation are true EXCEPT:
A) that it is defined by the consumer.
B) that it is a sequence of goal-directed behaviors.
C) that it includes affective and cognitive responses.
D) that it includes the environments in which they occur.
E) that it includes reference groups.
Q4) The _____ includes large-scale,broad environmental factors such as the climate,economic conditions,the political system,and the general landscape.
Q5) When faced with new or unfamiliar situations,consumers may not have clear goals or relevant knowledge.
A)True
B)False
Q6) Briefly describe the concept of store contact.
Page 13
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Chapter 12: Cultural and Cross-Cultural Influences
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Q1) With the establishment of the European Union,the cross-cultural differences among member countries are most likely to disappear.
A)True
B)False
Q2) The purchase/use of gym memberships,home exercise products,vitamins and supplements,and workout clothing is most closely associated with:
A) possession rituals.
B) product nurturing rituals.
C) exchange rituals.
D) personalizing rituals.
E) grooming rituals.
Q3) Cross-cultural differences do not always coincide with:
A) language barriers.
B) eating habits.
C) dressing habits.
D) economic barriers.
E) national borders.
Q4) Consumers buy products as a way to acquire _____ to use in establishing their self-identities.
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Chapter 13: Subculture and Social Class
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Q1) _ According to the text,_____ refers to a national status hierarchy by which groups and individuals are distinguished in terms of esteem and prestige.
Q2) Hispanics are people with Spanish-speaking ancestry.
A)True
B)False
Q3) List the tentative generalizations offered by Charles Shaninger with reference to social class versus income.
Q4) Marketers typically examine the _____ of the subculture by describing the cultural meanings shared by members of the subculture.
A) content
B) process
C) size
D) ethnicity
E) attitudes
Q5) What is meant by "psychological" age? Why should the marketer be especially interested in the teen subculture?
Q6) _ _____ are people born between 1946 and 1964.
Q7) What roles do subcultures and social class play within the larger culture?
Page 15
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Chapter 14: Reference Groups and Family
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Q1) What is the underlying assumption of the Family Life Cycle? What limitations does this approach face even after its most recent modernization? How can the concept aid the marketer?
Q2) Briefly define reference groups and describe five of the most common types.
Q3) Which of the following is composed of a householder and at least one other person related to him/her by blood,marriage,or adoption?
A) Household
B) Cohabitation unit
C) Immediate unit
D) Family
E) Home
Q4) Stages of the family life cycle that contain _____ are quite important to many marketers dealing with toys,clothing,and video products.
Q5) Shopping time/stress may be reduced by all of the following methods EXCEPT: A) providing information.
B) assisting in planning.
C) automating processes.
D) developing in-store selling.
E) improving delivery.
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Chapter 15: Market Segmentation and Product Positioning
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Q1) A _____ segment is one that is large enough to have sufficient sales and growth potential to offer long-run profits.
Q2) The prestige market seeks only the highest-priced product available.
A)True
B)False
Q3) Products can have multiple positioning strategies,as increasing the number minimizes the difficulties and risks associated with positioning.
A)True
B)False
Q4) The market segmentation process begins with the:
A) analysis of customer-product relationships.
B) investigation of segmentation bases.
C) development of a product positioning strategy.
D) selection of a segmentation strategy.
E) designing of a marketing mix strategy.
Q5) Explain the task of designing a marketing mix strategy in market segmentation.
Q6) What is the key objective of product positioning? How might this be accomplished? What role(s)might positioning maps play?
Q7) Why is market segmentation of vital concern to the modern marketer?
Page 17
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Chapter 16: Consumer Behavior and Product Strategy
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Sample Questions
Q1) The intrinsic commitment to repeatedly purchase a particular brand is called:
A) habitual purchase.
B) brand loyalty.
C) brand preference.
D) repeat purchase.
E) brand insistence.
Q2) A technological relative advantage is often difficult to maintain because:
A) new or improved technology is often quickly copied by competitors.
B) company resources eventually get depleted.
C) consumers are inherently variety seeking.
D) it goes against the concept of fair competition.
E) governments tend to dissuade it.
Q3) Products which deliver benefits quickly rank high on the factor of:
A) simplicity.
B) observability.
C) trialability.
D) compatibility.
E) speed.
Q4) As a functional competitive advantage,through vast economies of scale and large market shares,a firm can sometimes sustain a _____ advantage.
Page 18
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Chapter 17: Consumer Behavior and Promotion Strategy
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Sample Questions
Q1) A conventional salesperson makes 20 to 50 calls per day that last from one to two minutes and is closely supervised.
A)True
B)False
Q2) Describe two behaviors that are critical to the success of promotion strategies: information contact and word-of-mouth communication.
Q3) Brands that are high in intrinsic self-relevance are more likely to be purchased on impulse.
A)True
B)False
Q4) _____ is any paid,nonpersonal presentation of information about a product,brand,company,or store.
Q5) List the objectives that should be considered during the designing of promotion strategies.
Q6) According to the Foote,Cone & Belding (FCB),all products purchased primarily for their functional consequences are termed as feel products.
A)True
B)False
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Chapter 18: Consumer Behavior and Pricing Strategy
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Q1) From an economic/accounting standpoint,price must cover at least the product's variable costs and make some contribution to overhead and/or profits to be offered in the marketplace.
A)True
B)False
Q2) Use of credit card makes a purchase seem more expensive.
A)True
B)False
Q3) What is price? What specific types of consumer "costs" are involved?
Q4) Which of the following statements is true with regard to credit cards?
A) Credit cards require more time.
B) Credit cards require more cognitive activity.
C) Credit cards require more effort.
D) Credit cards entail low interest rates.
E) Credit cards make a purchase seem less expensive.
Q5) The _____ costs of production and marketing usually determine the lowest dollar price a firm must charge to make an offering in the market.
Q6) The price a consumer has in mind for making comparisons with the stated price is called the _____.
Page 20
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Chapter 19: Consumer Behavior, Electronic Commerce, and Channel Strategy
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Q1) Which of the following is most closely related to store patronage intentions?
A) Exploratory approach and avoidance
B) Physical approach and avoidance
C) Performance approach and avoidance
D) Satisfaction approach and avoidance
E) Communication approach and avoidance
Q2) Briefly describe the four basic types of utility.
Q3) Location allocation models allow the investigation of the effects on profitability of one store in a chain if another store is added in the same trading area.
A)True
B)False
Q4) For many types of products and most services,manufacturers affect consumers most directly and perhaps most influentially.
A)True
B)False
Q5) _____ utility means channels facilitate the transfer of ownership of goods to the consumer.
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Q6) _____ approach and avoidance can be related to store patronage intentions at a basic level.