Exam 14: Consumption to Satisfaction

An amusement park was recently inaugurated in Tampa,Florida.All the customers who visited the park the first few days were sent a feedback form via email to rate their overall satisfaction on a scale.The form included a set of ten questions with four answer options; completely dissatisfied/dissatisfied/satisfied/completely satisfied.This scale is an example of a(n)_____ measure.

Which of the following is an example of a durable good?

LOUIS VUITTON SCENARIO Carla purchased a Louis Vuitton Fantaisie handbag for $1,430 when she was in New York City last weekend. She had always fancied this brand but had never purchased anything of this brand before. In fact, many of her friends purchased counterfeit Louis Vuitton handbags, wallets, and scarves. But Carla was very particular about using only genuine goods. While the counterfeit products looked just as good as the real brand, they weren't of the same quality as the legitimate branded products. When she visited the store to purchase the bag, she was very skeptical about spending so much money for a handbag, but the sales lady was so kind and explained the benefits of the brand to her and made her feel very welcome in the store. She explained that consumers could only purchase true Louis Vuitton products at Louis Vuitton stores or from its website. She also explained that if she ever encountered a problem with her handbag, she could return it to the store for repair or a replacement. All things considered, Carla's experience at the store and her purchase far exceeded anything she had expected. Her initial feeling of skepticalness on splurging on a handbag gave way to a feeling of satisfaction and pride. This feeling was further strengthened when her friend who bought a counterfeit Louis Vuitton handbag for a few hundred dollars expressed dismay over her own purchase decision after she saw Carla's authentic Louis Vuitton bag with a superior finish. -Refer to Louis Vuitton Scenario.Carla's experience at the store and her purchase far exceeded anything she had expected.According to the expectancy/disconfirmation theory of satisfaction,which of the following is most likely to have occurred?

With low involvement,high expectations will be associated directly with increased dissatisfaction,and low expectations will be associated directly with increased satisfaction.

The way a consumer judges the outcomes of an exchange is known as _____ fairness.

LOUIS VUITTON SCENARIO Carla purchased a Louis Vuitton Fantaisie handbag for $1,430 when she was in New York City last weekend. She had always fancied this brand but had never purchased anything of this brand before. In fact, many of her friends purchased counterfeit Louis Vuitton handbags, wallets, and scarves. But Carla was very particular about using only genuine goods. While the counterfeit products looked just as good as the real brand, they weren't of the same quality as the legitimate branded products. When she visited the store to purchase the bag, she was very skeptical about spending so much money for a handbag, but the sales lady was so kind and explained the benefits of the brand to her and made her feel very welcome in the store. She explained that consumers could only purchase true Louis Vuitton products at Louis Vuitton stores or from its website. She also explained that if she ever encountered a problem with her handbag, she could return it to the store for repair or a replacement. All things considered, Carla's experience at the store and her purchase far exceeded anything she had expected. Her initial feeling of skepticalness on splurging on a handbag gave way to a feeling of satisfaction and pride. This feeling was further strengthened when her friend who bought a counterfeit Louis Vuitton handbag for a few hundred dollars expressed dismay over her own purchase decision after she saw Carla's authentic Louis Vuitton bag with a superior finish. -Refer to Louis Vuitton.Carla's friend,who bought a counterfeit Louis Vuitton handbag for a few hundred dollars,expressed dismay over her own purchase decision after she saw Carla's authentic Louis Vuitton bag with a superior finish.This feeling of dismay is an example of _____.

The number of times a product or service is consumed in a given time period is known as consumption _____.

_____ measures assess a consumer's satisfaction with various components of a product,service,or experience.

The term interactional fairness captures how fairly a consumer believes he/she is treated when dealing with service personnel in resolving some issue.

Automobiles and refrigerators are examples of _____ goods.

Which of the following elements in the attribution theory refers to judgments of who is responsible for an event?

Prior to the 1930s,diamond engagement rings did not enjoy much significance in the United States.However,persistent promotions by diamond companies such as associating diamond as symbolic of the "forever" element in marriage,diamond engagement rings have now become the norm,so much so that now,it has become a cultural requirement.Which of the following accounts for the cultural significance gained by diamond engagement rings?

Durable goods are goods that are consumed over extremely short periods of time.

Packrats possess a lifestyle trait leading to a strong tendency toward retaining consumption-related possessions.

FINE DINING SCENARIO Raffiné, a fine dining restaurant in Manhattan, has reservation bookings running several weeks in advance. Sara and her friends had made reservations two weeks in advance. She had come across many good reviews about the restaurant that she decided to go there. When the day finally came, Sara was excited as she had been eagerly looking forward to the dining experience in Raffiné. However, when she finally reached there and approached the reception, she was told that her name was not listed. She was made to wait for half an hour before she could get a table. Though the problem was sorted out, Sara was less than pleased as she had made reservations two weeks in advance. This initial hassle spoilt Sara's remainder of the evening and she held the poor management at Raffiné responsible. It didn't help when Sara, an environmentalist, learned that the management at Raffiné simply throws away their waste material without giving a thought for other more environmental friendly ways of disposing waste. At the end of the meal Sara was handed a customer feedback card. The card had a question-how do you rate your overall satisfaction at Raffiné? The answer choices were in the form of a scale that included completely dissatisfied/dissatisfied/satisfied/completely satisfied. Sara expressed that she was completely dissatisfied with the restaurant's overall services. -Refer to Fine Dining Scenario.Raffiné is a fine dining restaurant in Manhattan.This is an example of an establishment dealing in _____ goods.

The term distributive fairness refers to the way a consumer judges the outcomes of an exchange.

Which of the following theories proposes that consumers enter into a consumption experience with predetermined cognitive expectations of consumption against which the actual perceptions are judged?

Which of the following is a fundamental emotion evoked by negative,anticipatory appraisals which signal uncertainty about a negative outcome?

Differentiate durable and nondurable goods with examples.

A consumer with low satisfaction exhibits much more noticeable and persistent behavior than does an angry consumer.