Consumer Insights & Analytics_L1

Who is considered a customer?

• • A person or organization that buys goods or services from a shop or business

• A person who buys goods but doesn't use services

• An organization that provides services to consumers

• A person who recommends products without buying them

Which of the following describes a consumer?

• • A person who only uses services but doesn't buy goods

• A person or organization that sells goods and services

• A person who buys goods or uses services

• An organization that influences customer behavior without purchasing

What is an influencer in the context of consumer behavior?

• • Someone who buys and uses a product regularly

• Someone who provides recommendations for or against products without actually buying or using them

• Someone who buys and resells products

• Someone who produces goods and services for others to consume

What does the study of consumer behavior involve?

• • Studying how businesses set prices for goods and services

• Understanding the processes by which individuals or groups select, purchase, use, or dispose of products or services

• Analyzing the production of goods and services

• Evaluating how organizations influence customers' decision-making

Which of the following is NOT a type of consumer buying behavior?

• • Complex Buying Behavior

• Variety-Seeking Buying Behavior

• Habitual Buying Behavior

• Dissonance-Increasing Buying Behavior

What is one of the key benefits of studying consumer behavior?

• • It helps businesses decrease production costs

• It allows companies to plan their inventory better and increase sales

• It enables consumers to make quicker purchasing decisions

• It reduces the need for market research

Which of the following best describes the consumer decision-making process?

• • A random selection of products and services based on impulse

• A one-step process where consumers immediately purchase products

• A process involving five steps: problem recognition, information search, alternatives evaluation, purchase decision, and post-purchase evaluation

• A process only used when purchasing high-value products

How many stages can the 5 steps of the consumer decision-making process be divided into based on time?

• • 1

• 2

• 3

• 4