2/5 Chapter 6 and 7

Question 1

break even example

Answer 1

15 = VC(1+2) + FC(56K+18K)
15x=3x + 74000
12X = 74000
x= 6166.66
6166.66units/50=123 days to make them

Question 2

influences on consumers

consumer black box

Answer 2

cultural factors
social factors
individual factors
psychological/contextual factors

Question 3

reference groups

Answer 3

direct 
   primary 
   secondary
indirect
   aspirational 
   nonaspirational

Question 4

direct reference group

Answer 4

teens shopping for clothing

1. reconnaissance: shopping with close friends
2. purchasing clothing with parents

Question 5

indirect reference group

Answer 5

aspirational group: what you want to be a part of

nonaspirational: a group you want to stay away from

Question 6

psychographics

Answer 6

individual factors about a persons locations and their likes

Question 7

perception

Answer 7

only some info is made it into your attention and then to short term memory and maybe to your long term memory

Question 8

consumer decision making steps

Answer 8

1. need recognition
2. information search
3. evaluation of alternatives
   attribute vs affect based
4. purchase
5. post purchase behavior

Question 9

framing the decision

Answer 9

if you show comparisons then people are more likely to choose a nicer one based on how it is framed

Question 10

low involvement approach

Answer 10

you have to cut things short and make a decision

Question 11

high involvement approach

Answer 11

you take more time to make a decision