Exam 9: Decision Making

Which buying decision situation has the highest level of risk and the most buyers involved in the process?

A consumer who buys the same brand over and over again exhibits ________.

Products that consumers are willing to pay more for are called ________ products.

A shortcut to making a decision is called inertia.

A decision strategy that seeks to deliver an adequate solution rather than the best possible solution is referred to as ________.

Pepsi A.M. was positioned as a coffee substitute. In one test market, Pepsi A.M. was introduced onto a university campus. It was both an immense hit and a total failure. The product always sold out in vending machines, but the consumption of coffee stayed the same and the sale of other Pepsi products declined. In terms of levels of categorization, discuss what created the problem in the test market.

Directories and portals, Web site evaluators, forums, fan clubs, and user groups are all forms of which of the following?

In a consensual purchase decision, the group agrees on the desired purchase.

Dimensions we use to judge the merits of competing options are called ________.

One of the strategies employed by organizational buyers to reduce information search and effort in evaluating competing alternatives for routine purchases is to use a fixed set of suppliers.

List and describe the three "buckets" of consumer decision making.

A consumer who falls back on "mental rules-of-thumb" when making a decision is using heuristics.

People often make decisions on the basis of mental accounting. One facet of this accounting is making a decision based on the way a problem was posed. This is called ________.

Evaluative criteria are the dimensions used to judge the merits of competing options.

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 ________.

According to ________, a company can make money if it sells small amounts of items that only a few people want, if the company sells enough different items.

Kraft has repackaged its salad dressings as "anything" dressings to encourage people to shift their ________ and consider the dressings as a complement to more than just salads.

The evaluation of alternatives is the third stage of the consumer decision-making process.

People often make decisions on the basis of a mental accounting. One facet of this accounting is making a decision based on the way a problem was posed. This is called ________.

The first step in the consumer decision-making process is to conduct information search.