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The consumer decision process BEGINS when what action occurs within the consumer?

Two teachers purchased art supplies for their classes. One paid $110 for eight large boxes of crayons. The other teacher purchased ten identical boxes for $120. The second teacher got more for her money because she took advantage of a quantity discount, a reduced price for buying ten or more boxes. Which element of the marketing mix most directly relates to these purchases?

Consumers often rely on rules of thumb to make speedy decisions when weighing the merits of competing brands. These rules are referred to as ________.

Bryan phoned his auto insurance agent to renew his policy. The agent told him about new types of insurance now available—to cover his apartment, or even the engagement ring he just got for his fiancé. The agent was pursuing a ________ growth strategy.

The consumer’s ________ determines whether she will engage in habitual decision making, extended problem solving, or something in between the two.

Which of the following is part of the company’s immediate environment?

“Consumers are unpredictable, varied, fickle, stupid, shortsighted, stubborn, and generally bothersome.” Is this an accurate quote from Marketing Myopia?

Joe’s Stone Crabs (a restaurant in Miami Beach, Florida) tries to provide extraordinary value to its customers: its crabs are so famous that customers come from all over the world to taste them. Because they are so valued, Joe’s can charge a premium price for a dinner — about $112.95. Joe’s even ships its famous crabs overnight, to customers all over the country. Which of the 4P’s are referred to in this description?

If a firm seeks to grow, a ______________ strategy introduces a new product to a market segment which is also new (i.e., one that is not currently being served).

Some companies desire to grow. Think of the four macro strategies for growth discussed in class. A _____________ strategy takes the company’s existing products and looks for new markets for them (e.g., overseas), as a way to grow the business. An example is Harley Davidson’s Fat Boy motorbike, which is a successful product in the US, which the company is now seeking to sell in India, without really modifying it in any substantial way: