Exam 12: Decision Making I: Need Recognition and Search

Explain the significance of QR codes and GPS-based technologies in consumer search.

Laurie owns a Pluto X20 convertible.She and her husband have owned several other Pluto automobiles over the years.She has even convinced several family members and friends to buy Pluto automobiles.Recently,however,she had a bad service experience at the Pluto dealership in the city she just moved to.Nevertheless,she still decides to purchase a Pluto Y20 this year for her daughter and another Z20 when she needs a new car in a few years.Which of the following best illustrates Laurie's engagement with Pluto automobiles?

Risk associated with the safety of the product as well as its consumption is referred to as _____ risk.

A positive role of price exists when product price signals the desirability as well as the prestige associated with owning the product.

Consumer decisions can seldom be analyzed from a combination of decision-making perspectives.

In which of the following types of decision-making approaches do consumers tend to search diligently for information that will help them reach a satisfactory decision?

Which of the following terms is used to refer to the product attributes that consumers consider when reviewing possible solutions to a problem?

Jake has been driving the same car for ten years now,and he thinks it's getting old.This describes Jake's _____ state with respect to his car.

Research confirms that consumers generally consider only a small fraction of the actual number of problem solutions that are available.

The perceived risk for a product or service remains the same across consumers and situations.

Information overload refers to the situation in which consumers are presented with so much information that they cannot assimilate it all.

The perception of the negative consequences that are likely to result from a course of action and the uncertainty of which course of action is best to take is referred to as perceived _____.

When Carl migrated to England,he decided to stay in a cottage in Goodwood,Leicester,even though he had the option of staying in a better place.He opted to stay in Goodwood as the rent was reasonable and the neighborhood culture suited him well.Which of the following activities in the decision-making process best represents Carl's decision to stay in Goodwood?

REAL ESTATE BROKER SCENARIO Jane, a consumer researcher, worked with a real estate broker as part of her research on consumer decision-making behavior. During the course of her research, she found that young couples, mostly professionals, look out for a space they can call their own. Although young, they seldom make spontaneous and impulsive decisions while buying a house. All of them arrive at a decision after an exhaustive effort of finding more information, talking to different people, and checking out neighborhoods through various sources. This strengthens Jane's hypothesis that people tend to make wise and informed decisions while buying a house. In her experience of working with the real estate broker, Jane has had a successful run, except for the time when an elderly man left disappointed after weeks of continuous search. After his retirement, he had wanted to invest in a "dream house," but sadly he could not find what he was looking for. Whatever he liked exceeded his budget. Jane also met a young couple who spent most of their weekends house hunting. After being out with them week after week, they finally admitted that they never intended to buy a house and that they were mostly interested in gathering information and being updated about the real estate industry. -Refer to Real-Estate Broker Scenario.Jane met a young couple who spent most of their weekends house hunting.After being out with them week after week,they finally admitted that they never intended to buy a house and that they were mostly interested in gathering information and being updated about the real estate industry.Which of the following types of search does this represent?

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 finally decided on buying Tassimo,which featured Well-Fresh coffee,her favorite brand of coffee.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.Which of the following decision-making perspectives best describes Jane's final choice?

Search tends to decrease as a consumer's level of education and income increases.

Which of the following types of decision-making approaches occurs when there are relatively low amounts of purchase risk and product involvement?

The term evaluative criteria is used to refer to the product attributes that consumers consider when reviewing possible solutions to a problem.

Consumer search behavior refers to the behaviors that consumers engage in as they seek information that can be used to satisfy needs.

Which of the following consumer search behaviors focuses on locating information that will enable the consumer to reach a decision for a specific problem?