When customers go shopping to accomplish a specific task they are seeking to satisfy

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What kind of need may be satisfied by shopping and purchasing designer label merchandise?
Is a purchase decision process involving a moderate amount of effort and time?
Which item would most likely be purchased as an impulse item?
Which of the following steps follows the recognition of a need?

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Question	Answer
segmentation groups customers according to where they live.	geographic
segmentation groups consumers on the basis of easily measured, objective characteristics such as age, gender, income, and education.	demographic
segmentation uses both geographic and demographic characteristics to classify consumers.	geodemographic
refers to how people live, how they spend their time and money, what activities they pursue, and their attitudes and opinions about the world in which they live.	lifestyle or psychographics
can influence customers with the same demographics or lifestyle.	Buying situations
segmentation groups customers seeking similar benefits.	Benefits
What are the approaches for segmenting markets?	Geographic, GeoDemographic, Demographic, Lifestyle, Benefits, Buying situations
The ease with which consumers can understand and use a new fashion.	complexity
A pattern of buying both premium and low-priced merchandise or patronizing expensive, status-oriented retailers and price-oriented retailers.	cross-shopping
) A pricing strategy that stresses continuity of retail prices at a level somewhere between the regular nonsale price and the deep-discount sale price of the retailer’s competitors.	everyday low pricing (EDLP)
A buying decision made by customers on the spot after seeing the merchandise.	impulse buying
The stage in the buying process in which a customer seeks additional information to satisfy a need.	information search
A model of customer decision making based on the notion that customers see a retailer or a product as a collection of attributes or characteristics. The model can also be used for evaluating a retailer, product, or vendor. Using weighted average.	multiattribute attitude model
The evaluation of merchandise or services after the customer has purchased and consumed them.	postpurchase evaluation
A post-consumption evaluation of the degree to which a store or product meets or exceeds customer expectations.	satisfaction
Customers who like a store so much that they actively share their positive experiences with friends and family.	Store advocates
Market segment must be larger enough or its buying power significant to generate sufficient profits	Substantial
Retailer can target promotions and other elements of the retail mix to customers in the segment	Reachable
Retailer should know what to do to satisfy needs for the customers are in the segment	Actionable
Retailer is able to determine which customers are in the segment	Identifiable
What is the criteria for evaluating market segments	Actionable, Identifiable, Substantial, Reachable
is the meaning, beliefs, morals, and values shared by most members of a society.	Culture
is one or more people whom a person uses as a basis of comparison for beliefs, feelings and behaviors.	Reference groups
What are the social factors that influence the buying decision process?	family, reference groups, culture
committed to a specific brand, reluctant to switch to a different brand, may switch retailers to buy brand	brand loyalty
committed to a specific retailer, reluctant to switch retailers	Store loyalty
Habitual problem solving	purchase decision process involving little or no conscious effort
purchase decision process involving moderate amount of effort and time	Limited problem solving
consumers devote time and effort analyzing alternatives	Extended problem solving
What are the types of buying decisions?	Extending problem solving, limited problem solving, habitual decision making.
the set of alternatives the customer evaluates when making a selection	consideration set
satisfied when purchases accomplish a specific task. Shopping needs to be easy, and effortless like Sam’s or a grocery store.	Utilitarian Needs
satisfied when purchases accomplish a need for entertainment, emotional, and recreational experience as in department	Hedonic needs

What kind of need may be satisfied by shopping and purchasing designer label merchandise?

1) When consumers go shopping for pleasure, they are seeking to satisfy their hedonic needs.

Is a purchase decision process involving a moderate amount of effort and time?

Limited problem solving is a purchase decision process involving a moderate amount of effort and time. Customers engage in this type of buying process when they have had some prior experience with the product or service and their risk is moderate.

Which item would most likely be purchased as an impulse item?

Clothing is the most popular category for impulse purchases. Fast fashion brands influence this by making appealing clothes affordable for many consumers. This past quarter, clothing was one of the most popular items to buy in general, with 47% of consumers having bought clothes in the last month.

Which of the following steps follows the recognition of a need?

A normal consumer purchase includes the recognition of needs and wants. Next comes the information search, followed by an evaluation of all the choices. Finally, the purchase happens, and post-purchase evaluation follows a purchase.

When customers go shopping to accomplish a specific task they are seeking to satisfy

What kind of need may be satisfied by shopping and purchasing designer label merchandise?

Is a purchase decision process involving a moderate amount of effort and time?

Which item would most likely be purchased as an impulse item?

Which of the following steps follows the recognition of a need?

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