Family & Household

Income & Social Class Individual Decision Making Family & Household Group Influences Age Sub cultures 1 1 1 1 1 2 2 2 2 2 3 3 3 3 3 4 4 4 4 4 5 5 5 5 5

Family & Household for 1 Which of the following is NOT a reason for marketers to know about families and households? impart lifestyle and consumption values to their members influential in consumption decisions make several joint purchase decisions All of the above are important Answer

Family & Household for 1 D. All of the above are important Back to the Game

Family & Household for 2 • Which group is most likely to spend their money on cars, fridges, cookers, life assurance, durable furniture, holidays • Newly married couples • Bachelors/bachelorettes • Full nest 1 • Empty nest 1 Answer

Family & Household for 2 a. What are Newly Married Couples Back to the Game

Family & Household for 3 This person controls the flow of information to other members Information gatherers Gatekeepers Initiators influencers Answer

Family & Household for 3 B. What are Gatekeepers Back to the Game

Family & Household for 4 • In this type of Decision making, the group agrees on the desired purchase • differing only in terms of how it will be achieved. • Joint decision making • Consensual decision making • Accommodative decision making • Autonomous decision making Answer

Family & Household for 4 B What is Consensual Decision Making Back to the Game

Family & Household for 5 Which of the following is not a critical Consumption factor for families and households number of people (children and adults) in the family the ages of the family members Number of employed adults The decision making process Answer

Family & Household for 5 D. Decision making process Back to the Game

Individual Decision Making for 1 In this form of problem solving the decision is perceived to carry a fair degree of risk so the consumer tries to collect as much info as possible and carefully evaluates each product alternative Limited problem solving Extended problem solving Habitual problem solving Involved problem solving Answer

Individual Decision Making for 1 B. What is Extended Problem Solving Back to the Game

Individual Decision Making for 2 • The total demand for all brands in a product category is called: • Evoked demand • Secondary demand • Primary demand • Total demand Answer

Individual Decision Making for 2 C. What is primary demand? Back to the Game

Individual Decision Making for 3 The immediate set of choices/brands that come to mind for purchase, plus products prominent in the environment Retrieval set Inept set Evoked set Brand set Answer

Individual Decision Making for 3 C. What is the Evoked set Back to the Game

Individual Decision Making for 4 Daily Double • The place a product or service occupies in consumers' minds on important attributes relative to competitive offerings. • Evoked set • Product positioning • Brand awareness • Brand personality Answer

Individual Decision Making for 4 B. What is Product Positioning Back to the Game

Individual Decision Making for 5 "rules of thumb" people use to make judgements and decisions, such as never buy a car in the first model year Heuristics Sunk cost fallacies Differentiators Surrogate indicators Answer

Individual Decision Making for 5 A. What are Heuristics Back to the Game

Group Influences for 1 These groups are most likely to Influence a person’s values, beliefs, attitudes and behaviors. Market mavens Associative reference group Comparative network group Normative reference group Answer

Group Influences for 1 D. What is a Normative Reference Group Back to the Game

Group Influences for 2 • The Salesperson who compliments you on your wise purchase of a pair of pants has this sort of power • Reward power • Value expressive power • Referent power • Legitimate power Answer

Group Influences for 2 A. What is reward power Back to the Game

Group Influences for 3 • Which of the following is NOT a function of reference groups. • Value expressive • Utilitarian • Informational • Ego-defensive Answer

Group Influences for 3 D. What is ego-defensive Back to the Game

Group Influences for 4 This type of informal communications about a business or its products can be either negative or positive and is often considered the most powerful of all marketing methods Comparative advertising Word of mouth Reference group marketing Guerrilla marketing Answer

Group Influences for 4 B. What is Word of Mouth Back to the Game Board

Group Influences for 5 These central figures in WOM communication are knowledgeable about products and their advice is taken seriously by others Reference leaders Satisfied/unsatisfied Customers Opinion leaders Role models Answer

Group Influences for 5 C. What are opinion Leaders Back to the Game Board

Income & Social Class for 1 • Which of the following is not a marketing implication of ethnic subcultures • The media they read, listen to or watch • The amount of disposable income they have • Their geographic distribution • The language they prefer communication in Answer

Income & Social Class for 1 B. The amount of disposable income they have Back to the Game Board

Income & Social Class for 2 relatively permanent strata in a society that are distinct subcultures are called Castes Social Strata Social Classes Status levels Answer

Income & Social Class for 2 C. What are social classes Back to the Game Board

Income & Social Class for 3 • These conspicuously consumed goods are used to provide evidence of wealth. • Status symbols • Fraudulent symbols • Insignias • Comparative consumption goods Answer

Income & Social Class for 3 A. What are status symbols Back to the Game Board

Income & Social Class for 4 • This social class is often likely to approach consumption from a more aesthetic perspective than other classes • Middle class • Lower class • Upper class • None of the above. They are all equally likely to approach consumption from an aesthetic perspective Answer

Income & Social Class for 4 C. What are the upper classes Back to the Game Board

Income & Social Class for 5 • This occurs when consumers deliberately mock a trend by carefully selecting products and consumption patterns that are not the current fashion or style • Fashion mockery • Parody display • Fraudulent symbolism • Status symbol mockery Daily Double Answer

Income & Social Class for 5 B. What is parody display? Back to the Game Board

Age Subcultures for 1 • These people are of similar ages and have undergone similar experiences • Reference group • Nostalgia community • Experiential subculture • Age Cohort Answer

Age Subcultures for 1 D What is an age cohort Back to the Game Board

Age Subcultures for 2 Which of the following is NOT a way Children impact the Marketplace? Directly influencing the spending of their parents. Indirectly influencing the spending of their parents e.g. necessities spending their own money Children impact the market in all of the above ways Answer

Age Subcultures for 2 D. Children impact the market in all of the above ways Back to the Game Board

Age Subcultures for 3 • One of the best ways to reach university students them is through • Radio • Local newspapers • College/university newspapers • flyers Answer

Age Subcultures for 3 C. What are college/univ newspapers/ magazines Back to the Game Board

Age Subcultures for 4 • A section of the population, (US) controlling over $7 trillion in wealth • The Elderly • Teens • Generation X • Baby boomers Answer

Age Subcultures for 4 D. What are Baby Boomers Back to the Game Board

Family & Household