Exam 9: Decision Making

Which of the following best describes intelligent agents?

Which buying decision situation has the highest level of risk and the most buyers involved in the process?

The first stage in the consumer decision-making process is ________.

Explain the term "behavioral economics."

Products that consumers are willing to pay more for are called ________ products.

When using the ________ rule of decision making,a consumer evaluates brands on the most important attribute,but specific cutoffs are imposed.

A bucket in consumer decision making is ________.

A consumer who falls back on "mental rules-of-thumb" when making a decision is using heuristics.

The alternatives actively measured during a consumer's choice process are the ________ set.

List and explain the five types of perceived risk.

Characterize the straight rebuy,the modified rebuy,and new task decision in organizational purchasing.Provide an example of each.

The success of ________ hinges on the marketer's ability to convince the consumer to consider its product within a given category.

The success of a positioning strategy depends on the marketer's ability to convince the consumer to consider its product within a given category.

The evaluation of alternatives is the third stage of the consumer decision-making process.

A customer buying an unfamiliar product which carried a fair degree of risk would most likely engage in what type of problem solving?

Pam Henry is a purchasing agent for MicroTell.Each Tuesday she places an order for ten boxes of photocopier paper with her supplier.Ms.Henry is participating in which type of buying situation?

The research on loss aversion suggests that people tend to emphasize their losses more than their gains.

What is cybermediary? Provide an example to illustrate the function of cybermediaries.

A positioning strategy relies on the marketer's ability to convince the consumer to consider its product within a given category.

Differentiate between an evoked set and a consideration set.Provide examples to illustrate the two terms.