Exam 8: Judgment and Decision Making Based on High Effort

In planning a trip,we might judge how good or bad it is that Santa Barbara is fun and expensive.This is an example of

Brand-based compensatory models are helpful at providing guidance to marketers about all of the following except

A consumer sees an ad for a Nissan Altima.If the consumer's prior evaluation of the Nissan name is positive,additional information about the car obtained from the ad can then be used to adjust this initial value either upward or downward.This is an example of

In what ways can noncompensatory models be useful to marketers?

Consumers may delay a decision that they perceive as too risky.

A judgment of how probable something is to occur is known as a(n)

In buying a car,a consumer might decide that the lowest acceptable gas mileage is at least 15 miles per gallon.He could reject an alternative that was below this specification.This is an example of a ____ model.

When a consumer is exposed to a new brand extension,the existing brand name can serve as a positive anchor for subsequent judgments by

Attribute-processing models are useful for marketers primarily because they not only aid in identifying determinant attributes but also provide additional information on

In one study,consumers were asked to make judgments about ground beef.One group was told that the beef was 75 percent lean and another group was told that it was 25 percent fat.Even though these two statements contain identical information,the "lean" group produced significantly more positive ratings than the "fat" group.This process is called

Describe how making a decision in a group can affect consumers' choices.

Nancy wants to make a decision about a new car quickly.She first dismisses any model that does not have four-wheel drive.This is an example of a(n)____ model.

What are some biases in the judgment process?

David is selling his Match Box car collection to his friend,Scott.Discuss how an endowment effect may affect this sale.

When ownership increases the value of an item,it is termed the endowment effect.

How can marketers increase the probability that judgments of their products and services are being anchored by a positive initial value?

Clarke is willing to sell is Star Wars Lego collection to his friend Patrick.However,he wants to charge a price that is much higher than Patrick is willing to pay.This is an example of the

Judgments are a(n)____ the decision-making process.

Consumers using a disjunctive model set up minimum cutoff levels for each important attribute.

With an attribute-based strategy to compare noncomparable alternatives,consumers make comparisons easier by