Handout 2

Question 1

is a set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships (Badilla, 2015).

Answer 1

Market

Question 2

• They prefer what is new, unstructured, exotic, or unusual in terms of trips or destination choices.

Answer 2

Allocentrics

Question 3

They are those who prefer the structured and familiar destinations or activities.

Answer 3

Psychocentrics

Question 4

they portray both characteristics of allocentrics and psychocentrics depending on the situation or season.

Answer 4

Midcentrics

Question 5

This type of tourist buys all-inclusive packages and ensures that everything goes as planned.

Answer 5

Organized mass tourist

Question 6

This is more autonomous than the organized mass tourist preferring to travel independently but still chooses popular destinations and activities.

Answer 6

Individual mass tourist

Question 7

This type seeks new areas but would sometimes opt for the comfort of familiar accommodations.

Answer 7

The explorer

Question 8

This type is known as the “free spirit” who avoids any kind of traditional tourist establishments.

Answer 8

The drifter

Question 9

They have low affluence and low travel experience, and observe foreign culture from a bubble, which give them the confidence to travel

Answer 9

Bubble travelers

Question 10

They have more affluence and a base of overseas travel experience that give them more confidence

Answer 10

Idealized-experienced seekers

Question 11

They have more affluence, greater confidence, and more travel experience.
They are ready for more individually oriented travel to a wider range of destinations

Answer 11

Wide-horizon travelers

Question 12

They do not seek to merely observe but to be exposed fully to another culture, language, food, heritage, and lifestyle.

Answer 12

Total immersers

Question 13

This divides the market into different units such as nations, states, regions, countries, cities, neighborhoods, barangays, towns, etc.

Answer 13

Geographic

Question 14

This refers to the segmentation of the market based on variables such as age, life cycle, gender, income, occupation, education, religion, and race.

Answer 14

Demographic

Question 15

This divides the consumers based on different profiles such as social class, lifestyle, and personality characteristics.

Answer 15

Psychographic

Question 16

This divides groups based on their knowledge, attitude, and use of response to a product or service.

Answer 16

Behavioral

Question 17

The people who comprise the segment can be located such that targeting them would be easy.

Answer 17

Identifiable

Question 18

the consumers should be part of a whole specific qualities that are common to all.

Answer 18

Cohesive

Question 19

The marketer should be able to estimate the size and potential spending of the members of the market segment.

Answer 19

Measurable

Question 20

The member of the segment should be accessed by marketing efforts and promotional activities to be conducted. If they are difficult to reach, efforts to reach out to the specific segment might be useless.

Answer 20

Accessible

Question 21

Segments should be large. If the segment is small, it should have a high spending capability to make a significant impact on the business’ bottom line.

Answer 21

Substantial

Question 22

The company has enough resources and commitment to enable effective penetration of the identified segment to ensure effective positioning.

Answer 22

Actionable

Question 23

This type of competition is observed when businesses in the same sector that offer the same products compete with each other. (Example: Coca-Cola and Pepsi)

Answer 23

Direct competitor

Question 24

This type of competition offers a different product but with the same goal and consumer resources. (Example: Hotel industry vs. AirBnB.

Answer 24

Indirect competitor

Question 25

This type of competition offers a different product and has a different goal but uses the same consumer resources. (Example: When Grab and Uber came into the transportation scene, they threatened the taxi and limousine industries. However, their shared customer base still has alternatives such as taking public transportation or walking.)

Answer 25

Replacement/potential competitor

Question 26

These are inner drives that make people take a specific plan of action to satisfy their needs.

Answer 26

Motivations

Question 27

It is the collective mental programming of the human mind that distinguishes one group from another.

Answer 27

Culture

Question 28

refers to the number of years a person has been living. Likes and preferences of consumers are normally dependent on this. Gender also influences consumer behavior.

Answer 28

Age and gender

Question 29

This is one's position within the society and is determined by factors such as income, wealth, education, occupation, family prestige, and value of home or neighborhood.

Answer 29

Social class

Question 30

This is a person's pattern of living, as expressed in one's activities, interests, and opinions.

Answer 30

Lifestyle

Question 31

This refers to the stages an individual goes through their lifetime.

Answer 31

Life cycle

Question 32

These are sets of people who have a direct or indirect influence on other people's attitudes or behavior.

Answer 32

Reference groups

Question 33

______ refers to distinguishing characteristics that lead to relatively consistent and enduring responses to the environment. ______ refers to the consumer's personal mental picture.

Answer 33

Personality and self-concept

Question 34

During this, the consumer recognizes a problem or need that could be satisfied by a product or service in the market. It is the first stage of the buyer decision process.

Answer 34

Need/Problem recognition

Question 35

Once the need is recognized, the consumer is aroused to seek information and moves into the information stage wherein they search for information about the goods/service they want.

Answer 35

Information search

Question 36

With the information in hand, the consumer proceeds to this, during which the information is used to evaluate brands in the choice set. Consumers generally evaluate based on the attributes of the product, the degree of importance, belief in the brand, satisfaction, and the like to choose correctly.

Answer 36

Evaluation of alternatives

Question 37

After the alternatives have been evaluated, consumers decide on whether to purchase the product or service.

Answer 37

Purchase decision

Question 38

The consumer takes action based on satisfaction or dissatisfaction. In this stage, the consumer determines if they are satisfied or dissatisfied with the purchasing outcome.

Answer 38

Post-purchase evaluation