Connecting with Customers - Quiz

1. Reference groups influence consumer behavior by:

Providing points of comparison and influencing attitudes and behaviors

Reducing brand loyalty

Encouraging customers to buy luxury items

Setting market prices

2. Perception in consumer behavior refers to:

How customers compare prices

A consumer’s attitude toward a product

How individuals select, organize, and interpret information to form a meaningful picture of the world

Their opinion of a company’s service

3. The study of consumer behavior helps marketers understand:

Employee performance

How consumers make decisions about purchasing products

Product pricing

Competitor strategies

4. Global sourcing in business markets refers to:

Buying products from local suppliers

Procuring goods or services from suppliers located in different countries

Ignoring international markets

Focusing on domestic markets

5. Customer advocacy occurs when:

Customers actively promote a brand to others, based on their positive experiences

New customers are acquired

Companies reduce prices

Customers file complaints

6. The key members of a buying center typically include:

Marketing managers only

Retailers and wholesalers

Consumers

Initiators, influencers, deciders, buyers, and gatekeepers

7. Customer satisfaction is defined as:

The customer’s judgment of a product’s perceived performance relative to their expectations

Lowering product prices

A company’s internal performance metrics

Meeting financial goals

8. Culture in consumer behavior is:

The geographical location of the consumer

The personal opinions of a consumer

The social environment in which a consumer lives

A company’s internal policies

9. Derived demand in business markets refers to:

The demand for luxury items

The demand for promotional campaigns

The demand for business products being driven by consumer demand for end products

The demand for business products based on pricing

10. Customer lifetime value (CLV) refers to:

The profit margin a customer provides in a single transaction

The revenue a company generates from a customer over their lifetime

The number of times a customer buys a product

The cost to acquire a customer

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