Customer lifetime value includes the net present value of the stream of profits over a customer's lifetime and _____.
a. the costs associated with satisfying that customer
b. the costs associated with keeping that customer for more than 10 years
c. the retention rate for all customers
d. opportunity cost saved from having loyal customers
e. the worth attributed to the equity a good customer can bring
Answer: E
Consumer Behavior
- _____ refers to a change in behavior that occurs simply through associating some stimulus with another stimulus that naturally causes a reaction.
- Which of the following is true of the information processing perspective to learning?
- Which of the following perspectives to learning focuses on the cognitive processes associated with comprehension that lead to consumer learning?
- Sandra and her husband are considering the purchase of a new washer and dryer. They don't know much about high efficiency appliances, so they search the Internet, talk to friends and family, and visit several stores so that they can make a good decision. Sandra and her husband are engaged in _____ learning.
- Most consumers set out to specifically learn information about cars before making a purchase. Many search the Internet and visit dealerships before finalizing the purchase. Which of the following types of learning does this represent?
- ____ learning occurs when behavior is modified through a consumer-stimulus interaction without a cognitive effort to understand a stimulus.
- Which of the following approaches to learning focuses on changes in one's conduct that occur as conditioned responses to stimuli, without concern for the cognitive mechanics of the process?
- ____ refers to the personal relevance a consumer feels towards a particular product.
- Which of the following statements is true regarding the factors that gain consumers' attention?
- Which of the following is a natural reflex that occurs as a response to a threat from the environment and represents a protective behavior?
- Attention that is beyond the conscious control of the consumer and that occurs as the result of exposure to surprising or novel stimuli is known as _____ attention.
- One way marketers are dealing with the declining effectiveness of traditional advertising due to technology, such as digital video recorders allowing viewers to zoom past commercials, is to get their products integrated into television programs. In some shows, actors are seen driving a Toyota Prius or drinking Pepsi. This sort of advertising is an example of _____.
- John has very little knowledge of cheese and seldom buys it. However, when he is invited to dinner by a friend, a self-confessed cheese lover, John feels obligated to buy cheese for him. When he comes back home after dinner, John finds that the Stilton cheese he randomly chose and bought was displayed on the calendar in his kitchen. Which of the following is most likely to account for John's choice of cheese?
- Which of the following statements is true of the mere exposure effect?
- Implicit memory creates _____ effects, which is learning that is developed in the absence of attention.
- Sara gets information on different competing products and their prices on the Internet and utilizes the data gathered to settle for the best product in the market. In this example, the data gathered by Sara is most likely to be stored in _____ memory.
- ____ memory represents stored information concerning stimuli one is exposed to but does not pay attention to.
- The just meaningful difference (JMD) represents:
- A state implemented a much needed hike in gasoline prices, increasing it by $2. This was followed by a public outcry against the price rise. A year later, the state further increased gasoline prices by half a dollar. This time round, the public accepted it as essential even though there was a general murmur of dissatisfaction. Which of the following will best explain the reason for the public's acceptance?
- Which of the following laws states that as the intensity of the initial stimulus increases, a consumer's ability to detect differences between two levels of the stimulus decreases?
- Which of the following concepts represents how much stronger one stimulus has to be relative to another so that someone can notice that the two are not the same?
- The behavior change induced when the human brain processes stimuli that occur below the level of human consciousness is known as _____.
- The strength of a(n) _____ stimulus is lower than the absolute threshold of perception.
- Which of the following terms refers to the way in which the human brain senses low-strength stimuli, that is, stimuli that occur below the level of conscious awareness?
- Selective distortion is the process by which: