Question 1

An image representing Maslow's hierarchy of needs in the form of a pyramid 
-Praveen wants to get married and have a family.This need for companionship and acceptance reflects his:

Accepted Answer

A)  self-actualization needs. 
B)  esteem needs. 
C)  safety needs. 
D)  physiological needs. 
E)  social needs.

Question 2

A pattern of behaviours tied to life events that affect what and how people consume is called:

Accepted Answer

A)  an external locus of control. 
B)  ritual consumption. 
C)  impulse buying. 
D)  an internal locus of control. 
E)  an internal search for information.

Question 3

Which of the following statements is true of physiological risk?

Accepted Answer

A)  It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively. 
B)  It is the risk that involves the perceived danger inherent in a poorly performing product or service. 
C)  It is the risk associated with the fear of actual harm should a product not perform properly. 
D)  It is the risk that includes the initial cost of a purchase,as well as the costs of using the item or service. 
E)  It is the risk associated with the way people will feel if a product or service does not convey the right image.

Question 4

Which of the following refers to the process by which people select,organize,and interpret information to form a meaningful picture of the world?

Accepted Answer

A)  Perception 
B)  Involvement 
C)  Learning 
D)  Motive 
E)  Attitude

Question 5

Which of the following is true of a reference group?

Accepted Answer

A)  It refers to the part of attitude that reflects what a person feels about the issue at hand-his or her like or dislike of something. 
B)  It refers to one or more persons an individual uses as a basis for comparison regarding beliefs,feelings,and behaviours. 
C)  It refers to the part of attitude that reflects what a person believes to be true. 
D)  It refers to consumers spreading negative information about a product,service,or store to others. 
E)  It refers to the art of attitude that comprises the actions a person takes with regard to the issue at hand.

Question 6

A purchase decision process during which a consumer devotes considerable time and effort to analyzing alternatives,which often occurs when the consumer perceives that the purchase decision entails a great deal of risk is called:

Accepted Answer

A)  an external locus of control. 
B)  limited problem solving. 
C)  an internal locus of control. 
D)  ritual consumption. 
E)  extended problem solving.

Question 7

Which of the following is true of extended problem solving?

Accepted Answer

A)  It refers to the internal conflict that arises from an inconsistency between two beliefs,or between beliefs and behaviour. 
B)  It refers to a buying decision made by customers on the spot when they see the merchandise. 
C)  It refers to a purchase decision process in which consumers engage with little conscious effort. 
D)  It refers to a purchase decision process during which consumers devote,at most,a moderate amount of effort and time. 
E)  It refers to a purchase decision process during which consumers devote considerable time and effort to analyzing alternatives.

Question 8

Ritual consumption refers to a pattern of behaviours that have symbolic meanings and vary greatly by culture.

Accepted Answer

A) True 
 B)False

Question 9

What is a buyer most likely experiencing when he or she examines his or her own memory and knowledge about a product or service that is gathered through past experiences?

Accepted Answer

A)  An external locus of control 
B)  An impulse buying decision 
C)  An external search for information 
D)  An internal locus of control 
E)  An internal search for information

Question 10

John attends meditation classes.He believes that meditation will help him maintain a happy,satisfied outlook on life.John meditates to primarily boost his confidence.Which of the following needs is met by attending such classes?

Accepted Answer

A)  Esteem needs 
B)  Functional needs 
C)  Physiological needs 
D)  Social needs 
E)  Safety needs

Question 11

To reduce perceived wait times,retailers might install digital displays to entertain customers waiting in line.This is a situational factor that can facilitate purchases.

Accepted Answer

A) True 
 B)False

Question 12

Isla believes that adequate research will get her the best deal.This indicates that Isla is more likely to have a strong:

Accepted Answer

A)  internal locus of control. 
B)  external locus of control. 
C)  need for internal search for information. 
D)  trait of limited problem solving. 
E)  postpurchase dissonance.

Question 13

Which of the following statements best describes performance risk?

Accepted Answer

A)  It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively. 
B)  It is the risk that involves the perceived danger inherent in a poorly working product or service. 
C)  It is the risk associated with the fear of an actual harm should a product not perform properly. 
D)  It is the risk that includes the initial cost of a purchase,as well as the costs of using the item or service. 
E)  It is the risk associated with the way people will feel if a product or service does not convey the right image.

Question 14

Michelle believes that all spiders are dangerous and that a spider bite can have fatal consequences.Such a belief reflects:

Accepted Answer

A)  the affective component of her attitude. 
B)  the cognitive component of her attitude. 
C)  the behavioural component of her attitude. 
D)  her reliance on reference groups. 
E)  her self-actualization needs.

Question 15

Shopping products are commodity items that are frequently purchased,usually with very little thought.

Accepted Answer

A) True 
 B)False

Question 16

After having eaten an expensive Indian meal at a fine dining restaurant,Shane realized that he could have eaten more at another restaurant for a lesser price.Which of the following is being illustrated in this scenario?

Accepted Answer

A)  Habitual decision making 
B)  An external search for information 
C)  Ritual consumption 
D)  An internal search for information 
E)  Postpurchase dissonance

Question 17

In Toronto,a retail food store dropped its prices by 12 percent,which led to an increase in its market share from 30 to 45 percent.Because the lower price was the reason wy shoppers wanted to buy at that particular store and not at the other competitor retail stores,this is an example of:

Accepted Answer

A)  a compensatory decision rule. 
B)  postpurchase dissonance. 
C)  a determinant attribute. 
D)  decision heuristics. 
E)  a noncompensatory decision rule.

Question 18

Jesse feels that Ross is kind,charming,and humorous and therefore she tries to hang out with him whenever she gets the chance.Which component of Jesse's attitude is reflected when she hangs out with Ross?

Accepted Answer

A)  The affective component 
B)  The cognitive component 
C)  The behavioural component 
D)  The physiological component 
E)  The deductive component

Question 19

In the context of consumer buying decision,a consumer's degree of interest or concern in a product or service is called:

Accepted Answer

A)  perception 
B)  involvement. 
C)  learning. 
D)  motive. 
E)  attitude.

Question 20

The personal gratification that consumers associate with a product or service fulfills:

Accepted Answer

A)  esteem needs. 
B)  functional needs. 
C)  safety needs. 
D)  physiological needs. 
E)  psychological needs.

Exam 4: Analyzing the Market Environment

An image representing Maslow's hierarchy of needs in the form of a pyramid -Praveen wants to get married and have a family.This need for companionship and acceptance reflects his:

A pattern of behaviours tied to life events that affect what and how people consume is called:

Which of the following statements is true of physiological risk?

Which of the following refers to the process by which people select,organize,and interpret information to form a meaningful picture of the world?

Which of the following is true of a reference group?

A purchase decision process during which a consumer devotes considerable time and effort to analyzing alternatives,which often occurs when the consumer perceives that the purchase decision entails a great deal of risk is called:

Which of the following is true of extended problem solving?

Ritual consumption refers to a pattern of behaviours that have symbolic meanings and vary greatly by culture.

What is a buyer most likely experiencing when he or she examines his or her own memory and knowledge about a product or service that is gathered through past experiences?

John attends meditation classes.He believes that meditation will help him maintain a happy,satisfied outlook on life.John meditates to primarily boost his confidence.Which of the following needs is met by attending such classes?

To reduce perceived wait times,retailers might install digital displays to entertain customers waiting in line.This is a situational factor that can facilitate purchases.

Isla believes that adequate research will get her the best deal.This indicates that Isla is more likely to have a strong:

Which of the following statements best describes performance risk?

Michelle believes that all spiders are dangerous and that a spider bite can have fatal consequences.Such a belief reflects:

Shopping products are commodity items that are frequently purchased,usually with very little thought.

After having eaten an expensive Indian meal at a fine dining restaurant,Shane realized that he could have eaten more at another restaurant for a lesser price.Which of the following is being illustrated in this scenario?

In Toronto,a retail food store dropped its prices by 12 percent,which led to an increase in its market share from 30 to 45 percent.Because the lower price was the reason wy shoppers wanted to buy at that particular store and not at the other competitor retail stores,this is an example of:

Jesse feels that Ross is kind,charming,and humorous and therefore she tries to hang out with him whenever she gets the chance.Which component of Jesse's attitude is reflected when she hangs out with Ross?

In the context of consumer buying decision,a consumer's degree of interest or concern in a product or service is called:

The personal gratification that consumers associate with a product or service fulfills: