Reference no: EM132219321
1. An excellent reason to keep a “dog” using the BCG portfolio analysis is that:
- internal product champions would be upset if the “dogs” were eliminated.
- it complements or boosts the sales of another product.
- the inventory maintenance costs are lower than the disposal costs.
- the market might turn around, and the firm would be well-positioned for future growth.
2. Which of the following is an example of primary data that would be used by the Ashton-Drake Galleries to determine the popularity of its Precious Moments doll series?
- an article on Precious Moments found in Parade, the Sunday magazine found in many newspapers.
- data gathered by a doll collectors club about its membership.
- observing how individuals react to the dolls when they first see them.
- responses to a mail survey by National Family Opinion on how likely someone is to buy a collectible doll.
3. Which is WRONG about psychological factors affecting consumer behavior:
- consumer attitudes are fairly easy for marketers to change, leading to much brand switching.
- consumers often find it difficult to fully describe their buying motives.
- learning through generalization helps to account for the popularity of families of consumer product brands.
- people selectively attend to stimuli, e.g., commercials, which are familiar or anticipated.
4. With regard to our authors’ 5-stage model of consumer decision making:
- consumers try to reduce purchase risk by purchasing high-priced products.
- group influences begin to affect consumer behavior at the alternative evaluation stage.
- marketers can reduce a buyer’s post-purchase dissonance by keeping in touch with him/her.
- need recognition is triggered by stimuli within the consumer, leading him/her to seek out products.
5. One of the advantages of selling specialty goods & services is that when consumers want them, they will:
- consider many alternatives.
- expect them to be offered conveniently.
- question the price.
- search for them.