Exam 15: Applying social psychology to consumer behaviour

Ali is having a garage sale.He is trying to sell an old alarm clock for R200, an old pair of sneakers for R400, and an old TV set for R1 000.These prices are way too high.Since Ali owns these products, they seem to him to be more valuable than they really are.This phenomenon is known by social psychologists as ____.

Many consumers today are feeling time compression, leading them to select products that will alleviate time pressure.In consumer psychology terminology, this phenomenon is called ____.

Conspicuous consumption refers to cases in which people ____.

The importance of physical location within a shop is illustrated by the observation that moving the grocery shop deli from the back of the shop to the front increase sales by ____.

When people are shopping, crowding tends to ____.

In consumer psychology, the term shrinkage refers to ____.

Which explanation of conspicuous consumption fits with terror management theory?

As discussed in the text, the case study of 'New Coke' was an example of ____.

The use of software to empirically analyse online conversations to constantly monitor how consumers feel about brands is called _____.