Exam 12: Decision Making I: Need Recognition and Search

Which of the following is NOT a potential activity in the decision-making process?

Compare and contrast the three decision-making approaches and describe which one you used when making a recent purchase.

Some consumers won't purchase products online from retailers like Groupon, Buytopia, or Living Social because the products take too long to be delivered. Which type of risk is most likely influencing the decision not to purchase one of these brands?

A consumer has had a car for 10 years and he thinks it's getting old. Which state does this describe in regard to this consumer's automobile?

Performance risk is risk associated with the likelihood of a product performing as expected.

When consumers engage in extended decision making, information primarily comes from external sources.

Laurie has a Honda Accord that she really loves. She and her husband have owned several other Honda automobiles over the years. She's even convinced several family members and friends to buy Hondas. Recently, however, she had a bad service experience at the Honda dealership in the city she just moved to. Nevertheless, she will still purchase a Honda Civic this year for her daughter and another Honda Accord when she needs a new car in a few years. Which of the following does this example illustrate?

A consumer's consideration set includes the set of brands or alternatives to which a consumer is aware.

In today's environment, finding information is a problem.

The rational decision-making perspective fits very well with the concept of utilitarian value.

Hal is considering purchasing a hybrid automobile because he wants better gas mileage and to help save the environment. However, he is concerned that the car might not be as good as expected. Which type of risk is Hal considering?

Which decision-making perspective assumes that consumers diligently gather information about purchases, carefully compare various brands of products on salient attributes, and make informed decisions regarding what brand to buy?

The rational decision-making perspective assumes that consumers diligently gather information about purchases and carefully arrive at decisions.

With limited decision making, no comparison between brands is done.

Bill wants to be elected mayor of his town. Which term refers to the perceived state for which he strives?

Greg is considering purchasing a new truck, and he wants to purchase the best one within his budget. He has searched the Internet, asked friends, and visited dealerships to learn more about the different brands and their features. He even found one website where he can conduct direct comparisons of different brands to help him in his decision. Which decision-making perspective is Greg following?

Several factors that influence the amount of search performed by consumers were presented in the chapter. Discuss five of them.

Consumer search behaviour refers to the behaviours that consumers engage in as they seek information that can be used to satisfy needs.

Which of the following is NOT a set of alternatives or brands in the consumer decision-making process?

Perceived risk refers to the perception of the negative consequences that are likely to result from a course of action and the uncertainty of which course of action is best to take.