QUESTION 1 What is the first step in the basic consumption process? O A. Realizing a need (e.g., desiring a particular product) B. Exchange (eg, money for product) O C. Experiencing costs and benefits of the product D. Perceptions of overall value received after using the product QUESTION 2 A product is defined as A. A potentially valuable bundle of benefits OB. The physical effort required to make the purchase OC. The resources allocated toward satisfying a need D. The costs associated with buying the physical parts of a product QUESTION 3 Which of the following is an external influence on consumer value? A. Personal values B. Personal attitude OC. Personal needs D. Friends and family QUESTION 4 According to which of the following orientations does each customer represents a potential stream of ongoing resources rather than just a single sale? O A Hedonic orientation O B. Customer Relationship Management (CRM) orientation O C. Utilitarian orientation OD. Exemplar orientation QUESTION 5 Characteristics and traits, including personality and lifestyles, that help define a consumer leg. used to compare with other consumers) are referred to as A Value enhancers B. Prototypes OCIndividual differences D. Exemplars QUESTION 6 are unique to a time or place le 8. the time of day or specific location the purchase is being made) that can affect consumer decision making and the value received from consumption O A Situational influences OB Internal factors Primary groups OD. Secondary groups Question Completion Status: QUESTION 7 Which of the following terms refers to a personal assessment of the net worth overall goodness or badewa corner obtain from a product? A Conspicuous consumption 2. Unintentional learning O C. Effort OD. Value QUESTIONS Which of the following is a negative consequence of consumption? O A Prestige OB Financial costs C. Convenience OD Experience QUESTIONS Which of the following best describes the type of value received when purchasing supplies used to dean your home! O A Premium van OB. Hedonic value C. Utilitarian value D. State value