- Description
MKT 435 Wk 3 – Practice: Assignment
- What insight can marketers take away from the principle of reciprocity?
o People are motivated to make a purchase when they have received a free sample of the product.
o Consumers feel obligated to engage with a brand when the brand has first made a small request from them.
o Consumers feel obligated to engage with a brand when their friends and family recommend it.
o People are motivated to make a purchase when the company supports charitable causes.
- How can a brand help customers overcome their fear of commitment?
o By using micro-commitments to move customers step by step toward a purchase
o By showing customers that there is no viable alternative to the commitment
o By offering customer rewards programs that promote brand loyalty
o By sending daily emails or social media posts to remind the customer to make a commitment
- How can a brand leverage the pack mentality for success in marketing?
o Present the idea that your brand out-performs every other brand and is the top competitor in the market.
o Help customers believe that they are the alpha members of the pack if they purchase your brand before others do and influence others to follow them.
o Target customers’ biological appetites and show how your brand will satisfy their needs.
o Focus on creating a sense of belonging in customers by presenting the positive experiences of other customers like them.
- How can a brand use authority to influence the way consumers behave and interact with the brand?
o Because people inherently trust authority, companies should use authority figures to endorse a brand to build trust with consumers.
o Because today’s consumers value transparency, companies should provide a detailed explanation of why their products work.
o Since today’s consumers value speed, companies should provide a quick-access resource with authoritative product information.
o Since people tend to be suspicious of authority, companies should instead lean on everyday customers to promote their brands.
- How can companies use liking to influence customer purchase decisions?
o Always leave the customer wanting more so that they feel the thrill of chasing the brand.
o Tap into consumers’ inherent desire to be liked by promising that a product will help them be more popular.
o Enhance features of a product that perform well in concept testing with the target audience.
o Find and showcase points of commonality with the audience so that the audience feels favorably toward the brand.
- How can a company use scarcity to influence consumer behavior?
o Make products easily attainable, or else customers will lose interest.
o Limit the availability of an offer to create higher demand and increased urgency.
o Help customers feel that they will live a more abundant life by purchasing your product.
o Use supply and demand to strategically set product prices from month to month.
- Which of the following is a way advertising targets consumers based on gender?
o Advertisements catered to men often contain complex metaphors.
o Men respond better to strong colors and evocative images in advertising.
o Advertisements catered to women are often more detailed.
o Women tend to prefer more humor in advertising.
- Which of the following is an impact of social class on consumer behavior?
o Consumers in the middle class tend to be less concerned about gaining access to a higher social class through their consumer purchases.
o Consumers of all social classes behave very similarly in making purchase decisions.
o Consumers in less elite social classes often lack flexibility in their buying decisions.
o Consumers in more elite social classes are more risk-averse than other consumers.
- How can a brand leverage group influence to impact consumer behavior?
o By showing consumers that others are far worse off than they are
o By helping consumers understand the dangers of comparing themselves to others
o By portraying to consumers their ideal version of themselves
o By acting like a friend or peer to consumers instead of a company
- Why is it important for brands to consider culture in their marketing practices?
o Consumers who feel strong ties to their culture often see shopping as a frivolous and materialistic pastime.
o Culture usually takes precedence over characteristics like gender, age, and socioeconomic status when making purchase decisions.
o The culture of a consumer group often dictates their shopping habits to the point where consumers cannot imagine changing their habits.
o The culture of a consumer group determines whether a product is accepted or rejected by that group.
- What impact do disasters have on consumer behavior?
o Consumers tend to purchase more extravagant items because prices usually drop.
o Consumers tend to purchase more essential items to aid in survival.
o Consumers tend to under-purchase due to financial stress.
o Consumers tend to panic and forget to buy many important items.
- What impact do elections have on consumer behavior?
o Purchases decrease in the weeks surrounding an election due to feelings of uncertainty and overwhelm.
o Purchases increase in the weeks surrounding an election due to feelings of pride in the American economy and party loyalty.
o In-store purchases increase due to more consumers leaving the house to vote and campaign, while online purchases decrease.
o Online purchases increase due to frequent checking of polls online, while in-store purchases decrease.
- What long-term effect does a recession have on consumer behavior?
o It causes customers to shift their values to become more frugal even after the recession.
o It causes consumers to re-evaluate their career and look for jobs they enjoy more, even if they earn less money and therefore cannot spend as much.
o It causes consumers to come to the marketplace with a clean slate and look at all brand options with a new perspective.
o It causes customers to over-spend down the road because they felt deprived during the recession.
- What type of brands do consumers favor in times of global crisis?
o Brands that promise fun and entertainment, because customers want a relief from fear
o Brands that contribute to a return to stability, because customers are craving a sense of normalcy during a crisis
o Brands that are endorsed by celebrities and business executives, because customers trust them to lead the way out of the crisis
o Brands that provide the lowest price on a product, because customers want to save money to prepare for the future
- Optimal crisis communication includes which of the following strategies?
o Communication is highly technical to ensure customers are getting the full picture of the company’s role in mitigating the crisis.
o Communication is slow in speed to ensure all information is correct before communicating.
o Communication is high in frequency to address concerns in a timely manner.
o Communication avoids reference to the crisis situation because customers will grow weary of hearing about it.