Final Exam - Consumer Behavior (Summer Session I)
Directions: Note... Your Final Exam grade is comprised of the (3)- 30 point assignments in Activity module (4.1) plus the seven (7) questions (for 70 points) that are presented below. Each question is worth 10 points. Please answer each thoroughly and in sufficient detail. It is important that you substantiate your answers with sound reasoning and evidence. Please use full sentences and proper grammar. Lastly, use your own verbiage to synthesize important words, theories and concepts. Don't just lift material straight from the textbook or a website.Please save exam in a Word file as last name_ final exam.doc.Final Exam is due in the appropriate drop box by midnight on Friday 6-24-16.
1.) Define what is meant by motivation, ability and opportunity. In addition to defining each concept, make sure that you convey what the differences are between each of these concepts. Provide a solid example that illustrates each concept in the sequence of behaviors that we refer to as acquisition, consumption and disposition. (For example, if I am thinking about getting a snack because I am hungry after work... how does motivation, ability and opportunity factor into my acquisition, consumption and disposition decisions and behaviors?
2.) Define exposure, attention and perception. Also, insure to incorporate why these concepts are different from one another, but also how they are related to one another. Tell me why each of these concepts is important to the information processing model of consumer behavior. Additionally, provide a single concrete example of exposure, attention and perception as it relates to a brand that you are brand loyal to.
3.) We researched color as an important visual factor in marketing. Why is color one of the most important visual factors? What are the three (3) things that color accomplishes in the conveyance of information (think body and mind)?
4.) We also discussed why companies are clamoring to trademark their packaging colors? Why is this so? Also, explain in detail why Tide (the laundry detergent) was able to obtain trademark protection for the orange and blue combination that we have come to see on all of their products.
5.) Market segmentation is a crucial piece of any marketing discussion. In your textbook, you discovered that one researcher segmented consumers in the U.S. by looking at their lifestyles and value system. Who was this researcher and what were the market segments that he identified? Describe in sufficient detail. Today we have access to more sophisticated means of market segmentation. Priszm (a product produced by Claritas) is one such tool. Describe in detail what Priszm is, how it works, and the theory behind it that drives it. Also, provide me with a detailed description of the clusters that are represented in the 16057 (Slippery Rock, PA) zipcode.
6.) Later chapters in your textbook looked at some important segmentation variables in isolation. One such factor was age/generation. Pretend that you are the marketing manager for (2) separate products; a smart watch and McDonalds. You are charged with designing separate marketing mixes for each of these products. Your target market is Millennials. Use your textbook, as well as outside sources, to provide a detailed description of some of the more predominant trends identified amongst this group. Using your knowledge of these trends, design a separate marketing mix for each of the two products (smart watch and McDonalds). Be very descriptive on each of the (4) P's for each of these (2) products. Try to provide some justification why you believe your marketing mix will be superior to what a competitor might come up with.
7.) Finally, I want to know what your big "take-aways" were from this course. In other words, synthesize what you learned about the study of consumers and their behavior. Be detailed and descriptive here!!
Also, I value your opinion! Please take a moment to tell me what you liked and disliked about the content and structure of this course. Please be honest as I take kindly to constructive and thoughtful critiques (both positive and negative). I will use your thoughts and insights to make this experience better for future SRU students. Good marketers always try to discern the needs and wants of their target markets so that they can improve