Exam 12: Decision Making I: Need Recognition and Search

A consumer recognizes a need when he or she perceives a difference between which of the following?

What is the term for risk associated with the cost of the product?

Consumer decision making always focuses on the purchase of a product or service.

Which type of decision making usually occurs when there are relatively low amounts of purchase risk and product involvement?

Which type of search activities are focused on locating information that will enable the consumer to reach a decision for a specific problem?

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

Brad is deciding which MP3 player to purchase. He is gathering information from friends, family, advertisements, salespeople, and the Internet. Which type of search does this represent?

Which statement does NOT accurately describe consumer decision making?

Alec recognizes he needs to buy an interview suit because he's about to graduate from university. Because this is an important decision to him and he wants to land the perfect job, he shops at a variety of men's shops in hope of finding the perfect suit. What is Alec likely to perform next?

Which decision-making perspective assumes that many decisions are actually learned responses to environmental influences?

Brand loyalty enables consumers to reduce searching time drastically by insisting on the brand to which they are loyal.

Joanna is overwhelmed with the amount of information available when trying to decide on a laptop computer purchase. She is exhausted from trying to understand all the technical jargon, so she decides that she will use price as an indicator of quality to arrive at a satisfactory, rather than optimal, decision. What practice does her decision illustrate?

Which of the following is NOT a decision-making approach?

Brand loyalty has benefits for both the consumer and the marketer.

Retailers use the "brand-lift index" to measure the incremental sales that occur when a product is on display.

Which index is used by retailers to measure the incremental sales that occur when a product is on display?

A product's price is a piece of information.

The behavioural influence decision-making perspective assumes that many decisions are actually learned responses to environmental influences.

As a general statement, inexperienced consumers search for purchase-related information more than do either experienced or moderately experienced consumers.

Which term refers to risk associated with the time required to search for the product and the time necessary for the product to be serviced or maintained?