Retail Customers

Question 1

It is determined by whether or not the total shopping experience has met or exceeded the customer’s expectation. If it has, then the customer is said to have had a rewarding shopping experience.

Answer 1

Customer Satisfaction

Question 2

These are the activities performed by the retailer.

Answer 2

Customer Services

Question 3

It is the method retailers use to segment, or break down, heterogeneous consumer populations into smaller more homogeneous groups based on certain characteristics.

Answer 3

Market Segmentation

Question 4

What are these three important types of trends that all retailer must monitor which affect the way customers undertake the shopping process?

Answer 4

Population Trends
Social Trends
Economic Trends

Question 5

It finds useful for the retailer to group consumers according to population variables for two reasons: first, such data is often linked to marketplace needs; second, the data is readily available and can be easily applied in analyzing markets.

Answer 5

Population Trends

Question 6

It involves tailoring merchandise in each store to match the preferences of its neighborhood.

Answer 6

Micromarketing

Question 7

In this section, we look at the effects of income growth, the declining rate of personal savings, the increase in the number of working women, and the widespread use of credit on the modern retailer.

Answer 7

Economic Trends

Question 8

It is simply all personal income minus personal taxes.

Answer 8

Disposable Income

Question 9

It is disposable income minus the money needed for necessities to sustain life, such as minimal housing, transportation, food, and clothing.

Answer 9

Discretionary Income

Question 10

It involves a cue (external to the individual) or drive (internal to the individual). A cue is any object or phenomenon in the environment that is capable of eliciting a response.

Answer 10

Stimulus

Question 11

It is a second type of stimulus which is internal to the individual, and is a motivating force that directs behavior.

Answer 11

Drive

Question 12

In which is the task of receiving and processing information regarding the existence and quality of merchandise, services, stores, shopping convenience, parking advertising, and any other factor that a consumer might consider in making a decision of where to shop and what to purchase.

Answer 12

Passive Information Gathering

Question 13

It occurs when the consumer’s desired state of affairs departs sufficiently from the consumer’s actual state of affairs. When this happens, the consumer is in a state of unrest until he or she finds a way to resolve this difference.

Answer 13

Problem Recognition

Question 14

This is the next two stages in the consumer shopping and purchasing model – active information
gathering (or search) and evaluation of alternatives.

Answer 14

Problem Solving

Question 15

In which is when consumers proactively gather information. Many consumers begin their active information gathering with a search engine such as Google to find out about the desired product or service, its price, and where it is available. Consumers are then confronted with the second stage in problem solving

Answer 15

Active Information Gathering

Question 16

It is the first stage in the evaluation of alternatives, it refers to the characteristics of the store and its products and services. These can include such things as price, product quality, store hours, knowledgeable sales help, convenient parking, after-sale service, and so on.

Answer 16

Set of Attributes

Question 17

In this stage may include final negotiation, application for credit if necessary, and determination of the terms of purchase (cash, credit card, etc.). Sometimes, unexpected last-minute factors can intervene during the transaction phase and preempt the purchase.

Answer 17

Purchase / Purchase Stage

Question 18

This is where the consumers are buying solutions to their perceived needs, and successful retailers take an active interest in ensuring that their customers feel satisfied over the long term and that their needs have been resolved. The consumer’s use and evaluation of a product is therefore a critical, although sometimes overlooked, stage in the consumer behavior process.

Answer 18

Post-Purchase Evaluation

Question 19

In the event of a problem, consumer dissatisfaction can lead to this type of purchase, where the consumer’s dissatisfaction results in resentment toward the retailer.

Answer 19

Post-Purchase Resentment