Question 1

Does routine/nominal decision making involve any kind of purchase decision process? Explain and describe the nature of this consumer decision making.

Accepted Answer

Routine/nominal decision making in effect involves no decision, although there is a decision process: A problem is recognized, internal search reveals the best solution, and postpurchase evaluation occurs only if the brand fails to perform as expected. This is low involvement repeat purchase behavior. There is low involvement with the purchase process (although not necessarily with the product).

Question 2

Cite three reasons why customers become brand loyal.

Accepted Answer

• The favored brand better satisfies consumers' needs and wants than do competitive options
• To reduce perceived risk
• To simplify decision making
• To maintain their self image.

Question 3

The key assumption that underlies microeconomics is ________.

Accepted Answer

A)  Consumption 
B)  Rationality 
C)  Maximizing profit 
D)  Elasticity 
E)  Production 
A)  Consumption 
B)  Rationality 
C)  Maximizing profit 
D)  Elasticity 
E)  Production B

Question 4

You are about to rent a car for your one-week family vacation in Toronto. You have used car rental services from Avis, Alamo, Enterprise, and Budget in the past and you were unsatisfied with the customer service provided by Budget. When you used Avis, you thought that the rates were much too high. Which brands are in your evoked set?

Accepted Answer

A)  Budget 
B)  Avis 
C)  Budget and Avis 
D)  Alamo and Enterprise 
E)  Avis, Alamo, Enterprise, and Budget 
A)  Budget 
B)  Avis 
C)  Budget and Avis 
D)  Alamo and Enterprise 
E)  Avis, Alamo, Enterprise, and Budget

Question 5

The extent to which the purchase decision has perceived personal importance and relevance for the buyer is __________.

Accepted Answer

A)  Value-expressive products 
B)  Involvement 
C)  Semantic differential scales 
D)  Search time 
E)  Environmental involvement 
A)  Value-expressive products 
B)  Involvement 
C)  Semantic differential scales 
D)  Search time 
E)  Environmental involvement

Question 6

Cite three key assumptions underlying the microeconomic theory of the utilitarian consumer, each of which modern marketers would disagree with to some extent. What do marketers believe regarding each assumption?

Accepted Answer

The answer of Cite three key assumptions underlying the microeconomic...

Question 7

Items for which consumers have very strong brand preferences are __________.

Accepted Answer

A)  Shopping goods 
B)  Convenience goods 
C)  Credence goods 
D)  Specialty goods 
E)  Experience goods 
A)  Shopping goods 
B)  Convenience goods 
C)  Credence goods 
D)  Specialty goods 
E)  Experience goods

Question 8

It is not rational to purchase a product or service based on emotions, or feelings that are not physically controllable.

Accepted Answer

A) True 
 B)False

Question 9

The ultimate goal for marketers is to gain brand loyal customers. Cite four beneficial characteristics that a brand loyal customer possesses.

Accepted Answer

The answer of The ultimate goal for marketers is to...

Question 10

What is a sticky Web site?

Accepted Answer

A)  A website that attracts repeat visitors that are engaged enough to stay for extended periods of time 
B)  A website that spreads rapidly in popularity due to word-of-mouth. 
C)  A website that has a regular repeat audience that stays for short time periods but visits often 
D)  A website that provides more sales revenue for a product than its retail outlets 
E)  A website that is constantly being updated with new sales promotions generating a new audience daily 
A)  A website that attracts repeat visitors that are engaged enough to stay for extended periods of time 
B)  A website that spreads rapidly in popularity due to word-of-mouth. 
C)  A website that has a regular repeat audience that stays for short time periods but visits often 
D)  A website that provides more sales revenue for a product than its retail outlets 
E)  A website that is constantly being updated with new sales promotions generating a new audience daily

Question 11

Cite and define the two general situations of nominal decision making using the correct terminology.

Accepted Answer

The answer of Cite and define the two general situations...

Question 12

When there is a high level of affective involvement, consumers wish to make a rational, informed decision and put lots of thought into their decision process.

Accepted Answer

A) True 
 B)False

Question 13

Newspapers, magazines, direct mail, and mobile media tend to be high involvement media.

Accepted Answer

A) True 
 B)False

Question 14

Cite and explain the three contingency variables which determine involvement.

Accepted Answer

The answer of Cite and explain the three contingency variables...

Question 15

What is the relationship between ego involvement and self-concept?

Accepted Answer

The answer of What is the relationship between ego involvement...

Question 16

Consumer sovereignty is the notion that people are only as rational as their limited resources, knowledge, and time will permit.

Accepted Answer

A) True 
 B)False

Question 17

Which type of consumer involvement is related to utilitarian needs?

Accepted Answer

A)  Affective involvement 
B)  Ego involvement 
C)  Cognitive involvement 
D)  Purchase situation involvement 
E)  Product involvement 
A)  Affective involvement 
B)  Ego involvement 
C)  Cognitive involvement 
D)  Purchase situation involvement 
E)  Product involvement

Question 18

Microeconomics deals primarily with aggregates such as the total amount of products produced by society and the absolute levels of prices.

Accepted Answer

A) True 
 B)False

Question 19

An extended warrantee is an example of improving relationship marketing and focusing on post-purchase behavior.

Accepted Answer

A) True 
 B)False

Question 20

There are often nonbuying motives for going shopping in traditional bricks-and-mortar retail stores. Explain what these are and how their existence suggests we won't see the replacement of traditional stores and shopping malls with online e-tailing.

Accepted Answer

The answer of There are often nonbuying motives for going...

Does routine/nominal decision making involve any kind of purchase decision process? Explain and describe the nature of this consumer decision making.

Cite three reasons why customers become brand loyal.

The key assumption that underlies microeconomics is ________.

The extent to which the purchase decision has perceived personal importance and relevance for the buyer is __________.

Cite three key assumptions underlying the microeconomic theory of the utilitarian consumer, each of which modern marketers would disagree with to some extent. What do marketers believe regarding each assumption?

Items for which consumers have very strong brand preferences are __________.

It is not rational to purchase a product or service based on emotions, or feelings that are not physically controllable.

The ultimate goal for marketers is to gain brand loyal customers. Cite four beneficial characteristics that a brand loyal customer possesses.

What is a sticky Web site?

Cite and define the two general situations of nominal decision making using the correct terminology.

When there is a high level of affective involvement, consumers wish to make a rational, informed decision and put lots of thought into their decision process.

Newspapers, magazines, direct mail, and mobile media tend to be high involvement media.

Cite and explain the three contingency variables which determine involvement.

What is the relationship between ego involvement and self-concept?

Consumer sovereignty is the notion that people are only as rational as their limited resources, knowledge, and time will permit.

Which type of consumer involvement is related to utilitarian needs?

Microeconomics deals primarily with aggregates such as the total amount of products produced by society and the absolute levels of prices.

An extended warrantee is an example of improving relationship marketing and focusing on post-purchase behavior.

There are often nonbuying motives for going shopping in traditional bricks-and-mortar retail stores. Explain what these are and how their existence suggests we won't see the replacement of traditional stores and shopping malls with online e-tailing.

Consumer Behavior Overview

Market Segmentation

Stages in Consumer Decision Making

Cultural Influences

Subcultural Influences

Social Class Influences

Reference Groups and Social Influences

Family Influences

Group and Interpersonal Communications for Innovations: Adoption and Diffusion Processes

Personality and Lifestyle

Motivation

Perception and Information Processing

Learning and Memory

Attitude Formation and Change

Filters

Exam 3: Overview of Consumer Decision Making

Does routine/nominal decision making involve any kind of purchase decision process? Explain and describe the nature of this consumer decision making.

Cite three reasons why customers become brand loyal.

The key assumption that underlies microeconomics is ________.

The extent to which the purchase decision has perceived personal importance and relevance for the buyer is __________.

Cite three key assumptions underlying the microeconomic theory of the utilitarian consumer, each of which modern marketers would disagree with to some extent. What do marketers believe regarding each assumption?

Items for which consumers have very strong brand preferences are __________.

It is not rational to purchase a product or service based on emotions, or feelings that are not physically controllable.

The ultimate goal for marketers is to gain brand loyal customers. Cite four beneficial characteristics that a brand loyal customer possesses.

What is a sticky Web site?

Cite and define the two general situations of nominal decision making using the correct terminology.

When there is a high level of affective involvement, consumers wish to make a rational, informed decision and put lots of thought into their decision process.

Newspapers, magazines, direct mail, and mobile media tend to be high involvement media.

Cite and explain the three contingency variables which determine involvement.

What is the relationship between ego involvement and self-concept?

Consumer sovereignty is the notion that people are only as rational as their limited resources, knowledge, and time will permit.

Which type of consumer involvement is related to utilitarian needs?

Microeconomics deals primarily with aggregates such as the total amount of products produced by society and the absolute levels of prices.

An extended warrantee is an example of improving relationship marketing and focusing on post-purchase behavior.

There are often nonbuying motives for going shopping in traditional bricks-and-mortar retail stores. Explain what these are and how their existence suggests we won't see the replacement of traditional stores and shopping malls with online e-tailing.

Consumer Behavior Overview

Market Segmentation

Stages in Consumer Decision Making

Cultural Influences

Subcultural Influences

Social Class Influences

Reference Groups and Social Influences

Family Influences

Group and Interpersonal Communications for Innovations: Adoption and Diffusion Processes

Personality and Lifestyle

Motivation

Perception and Information Processing

Learning and Memory

Attitude Formation and Change

Filters