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Question
Niche marketers specialize in serving one market segment with unique demand characteristics.Answer
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COFFEE-MAKER SCENARIOJane was visiting her friend and was served a coffee drink at her friend's house that was similar to the ones she's had at coffee shops. Her friend told her that she can make such coffee drinks with her single-serve pod coffee maker. Jane decided she"d like to buy one as she wanted to enjoy similar coffee drinks at home, but she didn"t know much about them. She searched the Internet and visited Bed Bath & Beyond, Sur La Table, Williams Sonoma, and even Walmart. She realized there were several brands of the product, such as Tassimo, Keurig, Brevity, Cuisinart, Bunn, Senseo, and Mr. Coffee. With prices ranging from as low as $20 to several hundreds of dollars, it was difficult for Jane to decide on a single brand. She was concerned about paying several hundred dollars for a coffee maker. In the end, she shortlisted Tassimo, Keurig, and Cuisinart over the others for further consideration, keeping in mind her budget as well as the product features she was looking for. She deliberately left out Real and Fresh Coffeez, even though it was believed to be a good brand as she had a bad experience with one of its products. She did notice that Tassimo featured Well-Fresh coffee while none of the others did, and she ended up purchasing Tassimo for $130. She bought it because that's her favorite brand of coffee and Jane strongly feels that the coffee experience at Well-Fresh coffee is found nowhere else. In buying Tassimo, Jane hoped to replicate the Well-Fresh coffee experience at home. Refer to Coffee-Maker Scenario. Jane finally decided on buying Tassimo, which featured Well-Fresh coffee, her favorite brand of coffee. Jane strongly feels that the coffee experience at Well-Fresh coffee is found nowhere else. In buying Tassimo, Jane hoped to replicate the Well-Fresh coffee experience at home. Which of the following decision-making perspectives best describes Jane's final choice?a. Rational decision-making perspectiveb. Experiential decision-making perspectivec. Behavioral influence decision-making perspectived. Functional decision-making perspectivee. Implemental decision-making perspective
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REAL ESTATE BROKER SCENARIOJane, a consumer researcher, worked with a real estate broker as part of her research on consumer decision-making behavior. During the course of her research, she found that young couples, mostly professionals, look out for a space they can call their own. Although young, they seldom make spontaneous and impulsive decisions while buying a house. All of them arrive at a decision after an exhaustive effort of finding more information, talking to different people, and checking out neighborhoods through various sources. This strengthens Jane's hypothesis that people tend to make wise and informed decisions while buying a house. In her experience of working with the real estate broker, Jane has had a successful run, except for the time when an elderly man left disappointed after weeks of continuous search. After his retirement, he had wanted to invest in a "dream house," but sadly he could not find what he was looking for. Whatever he liked exceeded his budget. Jane also met a young couple who spent most of their weekends house hunting. After being out with them week after week, they finally admitted that they never intended to buy a house and that they were mostly interested in gathering information and being updated about the real estate industry. Refer to Real-Estate Broker Scenario. Young couples seldom make spontaneous, impulsive decisions while buying a house. All of them arrive at a decision after an exhaustive effort of finding more information, talking to different people, and checking out neighborhoods through various sources. Which of the following decision-making approaches are they most likely to employ?a. Experiential decision makingb. Habitual decision makingc. Routine decision makingd. Extended decision makinge. Limited decision making
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Which of the following statements is true about the amount of search performed by consumers during decision making?
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b. When searching costs are greater than the benefits of the search process, consumers no longer value the activity and search stops.
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b. consumers who work their way into a class.
c. consumers who believe in conspicuous consumption to gain entry into a class.
d. consumers marked in some way that indicates their place in the society.
e. consumers born into a social class.
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