Chapter 5 Final Consumers and Their Buying Behavior

Chapter 5 Final Consumers and Their Buying Behavior -...

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Chapter 5: Final Consumers and Their Buying Behavior True-false Questions 1. Most economists assume that consumers are "economic buyers" who logically evaluate choices to get the greatest satisfaction from spending their time and money. | Ans: True | Easy | LO: 1 | Pg. 116 | Definition | 2. The economic-buyer theory assumes that consumers know all the facts and logically compare choices. | Ans: True | Easy | LO: 1 | Pg. 116 | Definition | 3. The "economic buyer" view of consumers says that individuals will only buy the cheapest goods and services available--regardless of quality. | Ans: False | Easy | LO: 1 | Pg. 116 | Definition | 4. Economic needs are concerned only with getting the best quality at the lowest price. | Ans: False | Easy | LO: 1 | Pg. 116 | Definition | 5. Economic needs include such things as self-respect, accomplishment, fun, freedom and relaxation. | Ans: False | Easy | LO: 1 | Pg. 116 | Definition | 6. Discretionary income is what is left after paying taxes. | Ans: False | Easy | LO: 1 | Pg. 117 | Definition | 7. Higher-income groups no longer receive a very large share of the total income. | Ans: False | Easy | LO: 1 | Pg. 117-18 | Definition | 8. Only about 5 percent of families in the U.S. have incomes over $173,640, but these families get more than 20 percent of the total income. | Ans: True | Easy | LO: 1 | Pg. 118 | Definition | 9. The lowest 20 percent income group in the U.S. receives less than 5 percent of the country's total income. | Ans: True | Easy | LO: 1 | Pg. 118 | Definition | 10. It's not unusual for a college graduate to start out earning as much as the median family income. | Ans: True | Easy | LO: 1 | Pg. 119 | Definition | Chapter 5: Final Consumers and Their Buying Behavior 5 - 1
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11. Most marketing managers think that the economic-buyer theory explains buyer behavior very well. | Ans: False | Easy | LO: 1 | Pg. 119 | Definition | 12. According to the text, consumer buying decisions are influenced by economic needs, psychological variables, social influences, and the purchase situation. | Ans: True | Easy | LO: 2 | Pg. 119 | Definition | 13. Motivation, perception, learning, attitudes, and lifestyle are psychological variables which affect consumer buying. | Ans: True | Easy | LO: 2 | Pg. 119 | Definition | 14. Family, social class, reference groups, and culture are the intrapersonal variables that affect a consumer's buying decisions. | Ans: False | Easy | LO: 2 | Pg. 119 | Definition | 15. Wants are needs which are learned during a person's life. | Ans: True | Easy | LO: 2 | Pg. 119 | Definition | 16. The "hierarchy of needs" model suggests that we never reach a complete state of satisfaction, and that as lower level needs are satisfied higher level needs become more dominant. | Ans:
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This note was uploaded on 10/17/2011 for the course BUSINESS 023 taught by Professor Hisyam during the Spring '11 term at Universiti Teknologi Malaysia.

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Chapter 5 Final Consumers and Their Buying Behavior -...

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