MAR3503 EXAM 3

According to ________, we evaluate the effort we'll need to make a particular choice and then we tailor the amount of cognitive "effort" we expend to make that choice.

constructive processing

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

cybermediaries

A hot and thirsty customer buys a cool drink and finds it very satisfying. He then buys another drink even though he had not initially planned on buying two and even though he is no longer thirsty. This is an example of ________.

purchase momentum

________ describes consumers in terms of their aesthetic and intellectual preferences.

A taste culture

What is an evoked set?

According to the slides, The alternatives that the consumer is aware of are the evoked set.

Self-regulation refers to a person's efforts to change or maintain his actions over time.

True

Companies use __________________________ to create products, services, and retail experiences that make sense to the ways customers live their lives and use products.

design thinking

Which of the following occurs when a consumer uses a selected product and decides whether it meets their expectations?

post-purchase evaluation

A general attitude toward shopping is called ________.

shopping orientation

Most Americans will state that they are always rushed for time even though many people have opportunities for leisure. This perception is referred to as ________.

time poverty

Describe the concept of the filter bubble and give one example.

According to the slides, A filter bubble occurs when the information sources we consult serve up answers based upon what the source "thinks" we want to see, instead of objective, factual information. For example, Facebook personalized search.

Explain the concept of customer journey. Give an example of how a company can use it to improve their offering to customers.

According to the slides, a customer journey methodology maps out every single tiny step that customer takes while they interact with a company - no matter where it takes place or how trivial. for example, Facebook ads services.

Explain the concepts of both top and bottom of the pyramid. Give an example of a product created for each.

According to the slides, many companies target affluent, upscale markets. Income earners at the top of the pyramid have additional discretionary income to spend on expensive products. However, a much larger percentage of consumers are at the bottom of the pyramid. This is the largest group of consumers in the world and many companies profit by creating low-cost, low-price products for these consumers.

________ measures how optimistic or pessimistic people are about the future health of the economy and how they will fare in the future.

Consumer confidence

Consumers shop in an information-rich environment, causing too many choices, rather than too few. This condition, which forces us to make repeated decisions that may drain psychological energy while decreasing our abilities to make smart choices, is called

Hyperchoice

________ is the process by which the consumer surveys the environment for appropriate data to make a reasonable decision.

Information search

There are two types of motivation related to research on self-regulation. _____________________ motivation focuses on responsibilities and duties as it prompts people to think about avoiding something negative.

Prevention

________ occurs whenever the consumer sees a significant difference between his or her current state of affairs and some desired state.

Problem recognition

Neuromarketing uses functional magnetic resonance imaging (or fMRI), a brain-scanning device that tracks blood flow as we perform mental tasks to take an up-close look at how our brains respond to marketing messages and product design features.

True

Others who are present in a consumer's physical and social environment when purchases are made are called ________.

co-consumers

The _____________________________ describes the gap between what workers with a college degree earn compared to workers without one. Because the gap is, on average, very wide - the possession of a degree is often used as a proxy for income level.

college wage premium

A ________ includes a buyer, a seller, a product or service and other factors, such as how the physical environment makes one feel.

consumption situation

Money available to a household over and above what is required to have a comfortable standard of living is called ________.

discretionary income

Dimensions we use to judge the merits of competing options are called ________.

evaluative criteria

The alternatives actively measured during a consumer's choice process are the ________ set.

evoked

Remote controls with fifty buttons, digital cameras with hundreds of unused, mysterious settings options, and cars with complicated dashboards like a space shuttle are examples of __________________.

feature creep

Steve is planning to work on increasing his running speed, so he can lose weight and impress his family at an upcoming 5K race. He buys a Fitbit fitness watch so he can track his daily runs and review his performance each day, in hopes that he can improve daily towards his goal. This daily information and response is known as a

feedback loop

All of the following are important components of social class except for ________.

gender

The first stage in the consumer decision-making process is ________.

problem recognition

According to this view, people calmly and carefully integrate as much information as possible with what they already know about a product, painstakingly weigh the pluses and minuses of each alternative, and arrive at a satisfactory decision.

rational perspective

Maria visits a Target to look at television sets. She wants to see how big a 56-inch screen is in person. When she gets home, she order the television from Walmart.com. This practice is known as

showrooming

When Lauren is planning to impress her new date Pat by paying for a meal at a fine-dining restaurant, followed by cocktails at a trendy new lounge, Lauren is playing a role that affects her consumer behavior. This role is called her

situational self-image

Examples of _______________ include product ratings, online reviews, shopping haul videos, social media style advice, social media users crowdsourcing their friends for recommendations, and Pinterest boards.

social shopping

Amos always felt that it was unfair that society created artificial divisions that discouraged him from having friends from different social structures. Which of the following terms describes the process that Amos is having difficulty with?

social stratification

When a Rolls-Royce, a Cartier diamond, and an Andy Warhol painting are bought and displayed as markers of social class, they are ________.

status symbols

Time is a valuable resource and busy consumers look for ways to maximize their time efficiency. An individual's priorities determine their __________.

timestyle