Exam 2: Decision-Making and Consumer Behavior

At mymms.com, you can upload a photo and order a batch of M&Ms with a face and personal message printed on the candy shell. This is an example of ________.

Jack isn't motivated to spend time thinking about what his mom's birthday present could be so he just orders her flowers yet again. Jack is experiencing ________.

If a consumer is following the lexicographic rule in her decision making, then she would select a brand that is the best on the most important attribute.

Ellen stated that she would marry a millionaire. She applied a heuristic in judging men. They must wear expensive shoes and have an expensive automobile. What type of decision rule was Ellen most likely applying in her search for a millionaire husband?

Kent, a college student, is a loyal Coca-Cola drinker. He averages about six Cokes a day. He even prefers Coke to water. However, today when he passed a vending machine in his dorm, he bought a new flavor of soft drink called Big Red. Which of the following most accurately explains his behavior, given the facts about Kent's previous behavior?

________ is the process by which the consumer surveys the environment for appropriate data to make a reasonable decision.

The tendency for people to prefer products from their own culture rather than those of another culture is called ________.

Chen Lo used a decision rule that says, "only buy well-known brand names" when selecting a set of golf clubs. He did not look at price, the store, or even discounts when purchasing clubs. Chen Lo's purchasing pattern is an example of a consumer using a ________ rule.

Olga decided to buy a product at her grocery store because of a "surprise special." This is an illustration of the affective decision-making style.

A small company, Craig Inventions, produced a pill that had the nutrient value of a healthy breakfast. The company put the product on the market as a substitute for breakfast for busy people. The product failed. Craig Inventions then marketed the pill as a diet product and it became very successful. What does the example best demonstrate?

Purchase decisions that involve extensive search also entail some kind of perceived risk (a belief that the purchase potentially could have negative consequences). Name five perceived risks, indicate the kinds of consumers most vulnerable to each risk, and indicate the types of purchases most sensitive to each.

Neuromarketing refers to the use of software tools that try to understand and then apply a human decision maker's multiattribute preferences for a product category.

When is a consumer most likely to engage in cognitive decision-making?

________ occurs whenever the consumer sees a significant difference between his or her current state of affairs and some desired state.

The concepts of mental accounting, prospect theory, and perceived risk all remind a marketer that the customer's perception is more important than an objective reality when trying to understand consumer behavior.

The research on loss aversion suggests that people tend to emphasize their losses more than their gains.

A hot and thirsty customer buys a cool drink and finds it very satisfying. He then buys another drink even though he had not initially planned on buying two and even though he is no longer thirsty. This is an example of ________.

Explain the meaning of covariation and provide an example from your own past buying behavior.

Social risk occurs when the consumer's risk capital consists of self-esteem and self-confidence.

Unless a purchase decision is risky and/or has high involvement, it is reasonable for a customer to shorten the decision process by limiting the information search and evaluation of alternative stages rather than thoroughly undertaking each step.