Exam 9: Individual Decision Making

Some consumers make judgments about hidden dimensions of products from observable attributes, such as inferring that because a used car is clean and shiny, its mechanical condition is likewise of top quality. In this case, the clean and shiny exterior is a(n):

When Jacob first thought of buying a new vehicle, he could name at least eight SUV models. His friend Emily could think of only four. Jacob spent several weeks researching SUVs and rejected five of the models. His evoked set is now smaller than Emily's. Why?

Having too many choices in the marketplace is referred to as:

The basic idea behind the long tail is that:

What is a major distinction between customers who purchase a product because they are brand loyal and those who purchase by inertia?

A new organic milk product has a long shelf life without being refrigerated. The product did not sell. When the marketing team convinced stores to make space for it with other milk containers in the refrigerators, they couldn't keep it in stock. It was a huge success. Putting it in the fridge allowed consumers:

Louisa has wanted a Louis Vuitton handbag ever since she saw one on the television show Sex and the City. She could never imagine adjusting her household budget in order to save up the money to buy such an item as it was an outrageous amount to spend on a purse. This year she received a large bonus at work and went directly to the Louis Vuitton website and ordered the handbag. What bias does this behaviour reflect?

Define problem recognition. Show how problems can arise. Give a brief example to illustrate the problem recognition process.

Identify the series of steps customers go through as a part of the stages in extended problem solving.

When Japanese cars first became popular in the United States, some drivers of domestic cars placed bumper stickers on their vehicles that stated "Hungry? Eat your foreign car." These stickers encouraged people to support local workers and keep the balance of trade between Japan and the United States more toward an American advantage. The attitude expressed by the stickers is called:

If a consumer considers using the simple additive decision rule, a drawback might be that some of the positive attributes of the chosen brand may not be very important.

Wei Wei decides that the camera she buys must meet minimum standards on all of the key attributes she wants in a camera of this type or she will reject it, regardless of its performance on other attributes. Which decision rule has she decided to follow?

What is the key distinction between a social risk and a psychological risk?

If Bill used a mental or problem-solving shortcut to make a purchase decision, he would be utilizing a(n):

Ella's absolute favourite cereal is Love Crunch by Nature's Path. However, one day she decides to switch to a less-liked cereal, just to "mix things up." What concept does this behaviour demonstrate and why did she likely do this?

Which kind of decision rule is being used by a consumer who says that good performance on one or more attributes cannot "make up for" poor performance on other product attributes?

Which buyers are most sensitive to psychological risks in purchase decisions?

Compare and contrast internal and external search.

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

When Jenny goes to the supermarket to purchase cereal, she is overwhelmed by the sheer number of brands, flavours, and options. This is called consumer: