Question 1

Which of the following phenomenon is not a consumer consideration set phenomenon or influence?

Accepted Answer

A) Regression to the mean effect 
B) Part-list cuing effect 
C) Attraction effect 
D) Compromise effect 
E) All of the above are consideration set influences. 
A) Regression to the mean effect 
B) Part-list cuing effect 
C) Attraction effect 
D) Compromise effect 
E) All of the above are consideration set influences. A

Question 2

consists of all of the brands a person will consider purchasing.

Accepted Answer

A) Evoked set 
B) Brand recall set 
C) Consideration set 
D) Primary decision set 
E) Brand awareness set 
A) Evoked set 
B) Brand recall set 
C) Consideration set 
D) Primary decision set 
E) Brand awareness set C

Question 3

When is a memory brand preferred to a stimulus brand?

Accepted Answer

Generally, stimulus brands are preferred over memory brands.However, memory brands are preferred over time when they are described as having a large number of favorable features.The consumer remembers that the memory brands are good on a lot of dimensions even if they can't remember the specific details.This makes a case for using "puffery" in advertising.

Question 4

Which heuristic involves forming predictions based on the ease with which a situation can be imagined?

Accepted Answer

A) Representativeness heuristic 
B) Availability heuristic 
C) Simulation heuristic 
D) Framing effect 
E) Anchoring-and-adjustment heuristic 
A) Representativeness heuristic 
B) Availability heuristic 
C) Simulation heuristic 
D) Framing effect 
E) Anchoring-and-adjustment heuristic

Question 5

An important piece of information often overlooked due to the simulation heuristic is the base rate.

Accepted Answer

A) True 
 B)False

Question 6

The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics.

Accepted Answer

A) True 
 B)False

Question 7

The attraction effect suggests that adding a similar but inferior product to a product line hurts the overall image of the product line.

Accepted Answer

A) True 
 B)False

Question 8

The first time Mark flew Rover Airlines, he had a terrible customer service experience.Thus, he was very surprised that his next two flights were quite average in terms of service.Mark's is experiencing what bias?

Accepted Answer

A) The law of large numbers 
B) The gambler's fallacy 
C) The base rate effect 
D) Regression to the mean 
E) None of the above are correct. 
A) The law of large numbers 
B) The gambler's fallacy 
C) The base rate effect 
D) Regression to the mean 
E) None of the above are correct.

Question 9

How can a manager use the attraction effect?

Accepted Answer

Students answers may vary slightly howev

Question 10

Culture does not influence consumer decision making.

Accepted Answer

A) True 
 B)False

Question 11

Suggestive selling in stores, such as signs that read: "6 apples for $1.99" and "Limit 12 bottles per customer" and "Buy 2 for the price of 1" take advantage of what prediction heuristic?

Accepted Answer

A) Frequency of good and bad features heuristic 
B) Price -Quality heuristic 
C) Simulation heuristic 
D) Representativeness heuristic 
E) Anchoring-and-Adjustment heuristic 
A) Frequency of good and bad features heuristic 
B) Price -Quality heuristic 
C) Simulation heuristic 
D) Representativeness heuristic 
E) Anchoring-and-Adjustment heuristic

Question 12

Samantha is getting married.She is currently evaluating six different catering companies to cater the reception. What concept helps best explain Samantha's consideration set?

Accepted Answer

A) Memory-based choice 
B) Subjective rationality 
C) Heuristic-based choice 
D) Attribute-based choice 
E) Miller's Rule 
A) Memory-based choice 
B) Subjective rationality 
C) Heuristic-based choice 
D) Attribute-based choice 
E) Miller's Rule

Question 13

Sally believes if she just keeps playing the lottery, eventually she will win.Sally is suffering from the law of large numbers bias.

Accepted Answer

A) True 
 B)False

Question 14

Consumers are most likely to use heuristics when involvement is and processing load is .

Accepted Answer

A) high; high 
B) high; low 
C) low; high 
D) low; low 
E) All of the above are correct. 
A) high; high 
B) high; low 
C) low; high 
D) low; low 
E) All of the above are correct.

Question 15

Joe is trying to decide where to eat dinner tonight.He considers the local restaurant around the comer from his apartment, and recalls that the last time he ate there, the service was poor and the food was cold when it arrived.He figures the chances of bad service again tonight are high so he decides to go somewhere else.What heuristic is Joe engaging in?

Accepted Answer

A) Representativeness heuristic 
B) Availability Heuristic 
C) Lexicographic Heuristic 
D) The Price/Quality Heuristic 
E) The Anchoring-and-Adjustment Heuristic 
A) Representativeness heuristic 
B) Availability Heuristic 
C) Lexicographic Heuristic 
D) The Price/Quality Heuristic 
E) The Anchoring-and-Adjustment Heuristic

Question 16

Why would a moderately priced camera probably be selected over a low priced or a high priced camera?

Accepted Answer

The moderately priced camera would proba

Question 17

Which statement regarding heuristics is true?

Accepted Answer

A) Heuristics involve effortful processing. 
B) Heuristics are useful tools that managers should use more often. 
C) Heuristics use the scientific approach to form predictions 
D) Heuristics are cognitive shortcuts. 
E) None of the above is true. 
A) Heuristics involve effortful processing. 
B) Heuristics are useful tools that managers should use more often. 
C) Heuristics use the scientific approach to form predictions 
D) Heuristics are cognitive shortcuts. 
E) None of the above is true.

Question 18

Suppose an insurance salesman in Southern California is trying to predict the likelihood of a client's house being damaged by an earthquake in order to estimate insurance premium costs.Within the last several weeks, there were three moderate earthquakes that received lots of media coverage and several stories in the news related to earthquakes.In what cognitive heuristic is the salesman most likely to engage?

Accepted Answer

A) Representativeness heuristic 
B) Availability Heuristic 
C) Lexicographic Heuristic 
D) The Price/Quality Heuristic 
E) The Anchoring-and-Adjustment Heuristic 
A) Representativeness heuristic 
B) Availability Heuristic 
C) Lexicographic Heuristic 
D) The Price/Quality Heuristic 
E) The Anchoring-and-Adjustment Heuristic

Question 19

In attitude-based choice, choice is based on overall evaluations of brands.

Accepted Answer

A) True 
 B)False

Question 20

Defrne stimulus-based, memory-based, and mixed choice.

Accepted Answer

When none of the relevant brands and att

Which of the following phenomenon is not a consumer consideration set phenomenon or influence?

consists of all of the brands a person will consider purchasing.

When is a memory brand preferred to a stimulus brand?

Which heuristic involves forming predictions based on the ease with which a situation can be imagined?

An important piece of information often overlooked due to the simulation heuristic is the base rate.

The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics.

The attraction effect suggests that adding a similar but inferior product to a product line hurts the overall image of the product line.

The first time Mark flew Rover Airlines, he had a terrible customer service experience.Thus, he was very surprised that his next two flights were quite average in terms of service.Mark's is experiencing what bias?

How can a manager use the attraction effect?

Culture does not influence consumer decision making.

Suggestive selling in stores, such as signs that read: "6 apples for $1.99" and "Limit 12 bottles per customer" and "Buy 2 for the price of 1" take advantage of what prediction heuristic?

Samantha is getting married.She is currently evaluating six different catering companies to cater the reception. What concept helps best explain Samantha's consideration set?

Sally believes if she just keeps playing the lottery, eventually she will win.Sally is suffering from the law of large numbers bias.

Consumers are most likely to use heuristics when involvement is and processing load is .

Why would a moderately priced camera probably be selected over a low priced or a high priced camera?

Which statement regarding heuristics is true?

In attitude-based choice, choice is based on overall evaluations of brands.

Defrne stimulus-based, memory-based, and mixed choice.

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Biases in Managerial Decision Making

Strategies for Improving Managerial Decision Making

Filters

Exam 10: Product Consideration, Evaluation, and Choice

Which of the following phenomenon is not a consumer consideration set phenomenon or influence?

consists of all of the brands a person will consider purchasing.

When is a memory brand preferred to a stimulus brand?

Which heuristic involves forming predictions based on the ease with which a situation can be imagined?

An important piece of information often overlooked due to the simulation heuristic is the base rate.

The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics.

The attraction effect suggests that adding a similar but inferior product to a product line hurts the overall image of the product line.

The first time Mark flew Rover Airlines, he had a terrible customer service experience.Thus, he was very surprised that his next two flights were quite average in terms of service.Mark's is experiencing what bias?

How can a manager use the attraction effect?

Culture does not influence consumer decision making.

Suggestive selling in stores, such as signs that read: "6 apples for $1.99" and "Limit 12 bottles per customer" and "Buy 2 for the price of 1" take advantage of what prediction heuristic?

Samantha is getting married.She is currently evaluating six different catering companies to cater the reception. What concept helps best explain Samantha's consideration set?

Sally believes if she just keeps playing the lottery, eventually she will win.Sally is suffering from the law of large numbers bias.

Consumers are most likely to use heuristics when involvement is and processing load is .

Why would a moderately priced camera probably be selected over a low priced or a high priced camera?

Which statement regarding heuristics is true?

In attitude-based choice, choice is based on overall evaluations of brands.

Defrne stimulus-based, memory-based, and mixed choice.

Understanding Consumer Behavior and Consumer Research

Consumer Focused Strategy: Segmentation and Positioning

Branding Strategy and Consumer Behavior

Consumer Perception

Learning and Memory

Automatic Information Processing

Motivation and Emotion

Attitude and Judgment Formation and Change

The Consumer Decision Making Process

Behavioral Decision Theory

Self-Concept and Personality

Social Influence and Behavioral Compliance

The Influence of Culture and Values

The Influence of Demography

Contemporary Strategies in Reaching Consumers

Engaging Consumers Through Online Marketing

Biases in Managerial Decision Making

Strategies for Improving Managerial Decision Making

Filters