Exam 12: Decision Making I: Need Recognition and Search

When Carl decided to migrate to England,he was preoccupied with looking up on the Internet for data on accommodation.He also talked with his friends and relatives in England on available options for stay on his arrival.Which of the following activities in the decision-making process best represents Carl's preoccupation?

The term search regret refers to the negative emotions that come from failed search processes.

The rate at which a promotion is transitioned into a sale is known as promotional _____ rate.

Irene has been saving up and searching for the right house to buy.She was ecstatic when a friend told her of a website that deals with real estate promotion and purchase.Irene,who confesses to be not so proficient with the use of the Internet,visited the site for information.However,she was disappointed since her laptop did not have all the necessary software to download information and images from the site.The disappointment that Irene experienced can best be described as search _____.

Risk associated with the likelihood of a product functioning as expected is referred to as _____ risk.

When a consumer simply buys a product repeatedly without any real attachment,it is referred to as brand _____.

Price is information signaling how much potential value may be derived from consuming something.

In an ongoing search,the search effort is focused on simply staying up to date on a topic of interest.

Describe the three major decision-making perspectives.Describe a purchase decision you or your family made that illustrates a combination of these perspectives.

John's kids have been pestering him to buy them shoes with wheels.However,he's concerned whether using such shoes would be safe for his children or make them more prone to injuries.Which of the following best reflects John's concern?

Alternatives that are deemed to be unacceptable for further consideration in decision making comprise a consumer's inert set.

Which of the following is a deeply-held commitment to rebuy a product or service regardless of situational influences that could lead to switching behavior?

Value perceptions influence the activities found in the decision-making process.

COFFEE-MAKER SCENARIO Jane was visiting her friend and was served a coffee drink at her friend's house that was similar to the ones she's had at coffee shops. Her friend told her that she can make such coffee drinks with her single-serve pod coffee maker. Jane decided she'd like to buy one as she wanted to enjoy similar coffee drinks at home, but she didn't know much about them. She searched the Internet and visited Bed Bath & Beyond, Sur La Table, Williams Sonoma, and even Walmart. She realized there were several brands of the product, such as Tassimo, Keurig, Brevity, Cuisinart, Bunn, Senseo, and Mr. Coffee. With prices ranging from as low as $20 to several hundreds of dollars, it was difficult for Jane to decide on a single brand. She was concerned about paying several hundred dollars for a coffee maker. In the end, she shortlisted Tassimo, Keurig, and Cuisinart over the others for further consideration, keeping in mind her budget as well as the product features she was looking for. She deliberately left out Real and Fresh Coffeez, even though it was believed to be a good brand as she had a bad experience with one of its products. She did notice that Tassimo featured Well-Fresh coffee while none of the others did, and she ended up purchasing Tassimo for $130. She bought it because that's her favorite brand of coffee and Jane strongly feels that the coffee experience at Well-Fresh coffee is found nowhere else. In buying Tassimo, Jane hoped to replicate the Well-Fresh coffee experience at home. -Refer to Coffee-Maker Scenario.Jane didn't know much about coffee-makers.Therefore,she searched the Internet and visited different stores.She realized there were several brands of the product with prices ranging from as low as $20 to several hundreds of dollars.Which of the following decision-making approaches best reflects Jane's method of finding information prior to the purchase?

Carl and Sarah,newlyweds,are considering the purchase of their first house.They are very involved with this purchase decision,particularly because they will be spending their entire savings on this purchase.They have been searching for information on the Internet and asking for opinions from friends and family.Which of the following decision-making approaches are they most likely employing?

Which of the following decision-making perspectives assumes that consumers diligently gather information about purchases,carefully compare various brands of products on salient attributes,and make informed decisions regarding what brand to buy?

The difference between ongoing searches and browsing behavior is that an ongoing search is performed when consumers have an enduring interest or involvement with the product,not simply when information is being gathered for a specific purchase.

In opportunity recognition,_____.

Which of the following is true about behavioral influence decision-making perspective?

The practice of using decision-making shortcuts to arrive at satisfactory,rather than optimal,decisions is called _____.