MARKETING 2500 EXAM 2 WMU
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Consumer market - ANS all individuals/households who buy goods and services for personal
consumption - american consumer market consists of more than 310 million people who
consume almost $10 trillion worth of goods and services each year, making it one of the most
attractive consumer markets in the world
consumer buying behavior - ANS refers to the buying behavior of final consumers ---
individuals and households that buy goods and services for personal consumption - Note:
customer = the person or entity that buys the product; consumer = the person or entity that
uses the product
model of consumer buyer behavior - ANS step 1: marketing and other stimuli - four p's &
economic, technological, political, cultural
step 2: buyer's black box - buyer characteristics & buyer decision process
step 3: buyer responses - product choice, brand choice, dealer choice, purchase timing,
purchase amount
buyer's black box - ANS marketing and other stimuli enter the buyer's "black box" and
produce certain choice / purchase responses & marketers must figure out what is inside of the
buyer's "black box" and how stimuli are changed to responses
@2026 ALLRIGHTS RESERVED 1
, 4 factors that impact consumer behavior - ANS cultural, social, personal, psychological
cultural - ANS culture: includes basic values, perceptions, wants and behaviors
subculture: groups of people with shared value systems
social class: relatively permanent and ordered divisions in a society whose members share
similar values, interests, and behaviors
social - ANS groups: memberships, reference, opinion leaders
family: important as a functional buying unit, various patterns of influence
roles and status: activities people expected to perform according to the people around them
and general esteem given to a role by society
personal - ANS age and life-cycle stage, occupation, economic situation,
lifestyle, self-concept
psychological - ANS motivation, perception, learning, beliefs and attitudes
the buyer decision process - ANS need recognition > information search > evaluation of
alternatives > purchase decision > post purchase behavior
step one: need recognition - ANS - buyer becomes aware of a difference between a desired
state and an actual condition
- individual may be unaware of the problem or need
- marketers may use sales personnel, advertising, and packaging to trigger recognition of needs
or problems
- recognition speed can be slow or fast
@2026 ALLRIGHTS RESERVED 2
QUESTIONS AND ANSWERS 100% PASS
2026/2027
Consumer market - ANS all individuals/households who buy goods and services for personal
consumption - american consumer market consists of more than 310 million people who
consume almost $10 trillion worth of goods and services each year, making it one of the most
attractive consumer markets in the world
consumer buying behavior - ANS refers to the buying behavior of final consumers ---
individuals and households that buy goods and services for personal consumption - Note:
customer = the person or entity that buys the product; consumer = the person or entity that
uses the product
model of consumer buyer behavior - ANS step 1: marketing and other stimuli - four p's &
economic, technological, political, cultural
step 2: buyer's black box - buyer characteristics & buyer decision process
step 3: buyer responses - product choice, brand choice, dealer choice, purchase timing,
purchase amount
buyer's black box - ANS marketing and other stimuli enter the buyer's "black box" and
produce certain choice / purchase responses & marketers must figure out what is inside of the
buyer's "black box" and how stimuli are changed to responses
@2026 ALLRIGHTS RESERVED 1
, 4 factors that impact consumer behavior - ANS cultural, social, personal, psychological
cultural - ANS culture: includes basic values, perceptions, wants and behaviors
subculture: groups of people with shared value systems
social class: relatively permanent and ordered divisions in a society whose members share
similar values, interests, and behaviors
social - ANS groups: memberships, reference, opinion leaders
family: important as a functional buying unit, various patterns of influence
roles and status: activities people expected to perform according to the people around them
and general esteem given to a role by society
personal - ANS age and life-cycle stage, occupation, economic situation,
lifestyle, self-concept
psychological - ANS motivation, perception, learning, beliefs and attitudes
the buyer decision process - ANS need recognition > information search > evaluation of
alternatives > purchase decision > post purchase behavior
step one: need recognition - ANS - buyer becomes aware of a difference between a desired
state and an actual condition
- individual may be unaware of the problem or need
- marketers may use sales personnel, advertising, and packaging to trigger recognition of needs
or problems
- recognition speed can be slow or fast
@2026 ALLRIGHTS RESERVED 2
