Significance of consumer behavior for a business firm


Part one:

Multiple choices:

Question 1: This is a concept where goods are produced devoid of taking into consideration the choices or tastes of customers:

a) Marketing mix.
b) Production concept.
c) Marketing concept.
d) Relationship marketing.

Question 2: It includes individuals who buy products or services for personal use and not for the manufacture or resale:

a) Environment analysis.
b) Macro environment.
c) Micro environment.
d) Consumer.

Question 3: It is the groups of people who interact formally/informally influencing each other’s attitudes and behavior:

a) Consumer behavior.
b) Culture.
c) Reference groups.
d) Primary groups.

Question 4: The concept of product which passes via different changes in its total life termed as:

a) Product life cycle.
b) Line stretching.
c) Consumer adoption.
d) Product.

Question 5: This refers to unique set of brand associations which brand strategist aspires to create or maintain:

a) Branding.
b) Packaging.
c) Brand identity.
d) Brand image.

Question 6: It comprises a pricing strategy which charges customers different prices for the similar product or service:

a) Promotional pricing.
b) Price discrimination.
c) Non price competition.
d) None.

Question 7: This refers to an arrangement where the other company via its own marketing channel sells the products of one producer:

a) End customer.
b) Wholesaler.
c) Retailing.
d) Strategic channel alliance.

Question 8: This includes facility comprising of the means and equipments essential for the movement of passengers of goods:

a) Logistics.
b) Warehousing.
c) Transportation.
d) None.

Question 9: The advertising that is used to inform consumers regarding a new product or feature and to build primary demands is termed as:

a) Advertising.
b) Informative advertising.
c) Persuasive advertising.
d) Advertising strategy.

Question 10: An art which predicts the likelihood of economic activity on the basis of certain suppositions:

a) Compensation.
b) Sales forecasting.
c) Sales budgeting.
d) Selling policy.

Part Two:

Question 1: Write a note on significance of consumer behavior for a business firm?

Question 2: Define the term Price?

Question 3: Differentiate between Marketing Concept and Selling Concept?

Question 4: What are the new trends in the advertisement?

Question 5: Briefly describe the following:

a) Socio –culture environment 
b) Marketing environment interface.

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Business Management: Significance of consumer behavior for a business firm
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