mktg 351 final

elimination by aspects rule

First, evaluative criteria ranked in terms of importance Second, cutoff point for each criterion is established. Finally (in order of attribute importance) brands are eliminated if they fail to meet or exceed the cutoff.

Karl and his wife are considering putting a built-in pool in their backyard. They were discussing who they could get to do it for them, and they realized they knew of five good pool contractors in their city. These five pool contractors that they thought of as potential contractors for them represent their _____. a.awareness set b.evaluative criteria c.alternative set d.preferred set e.universal set

a. awareness set

Which decision rule establishes minimum required performance standards for each evaluative criterion and selects the first or all brands that meet or exceed these minimum standards? a.conjunctive b.disjunctive c.lexicographic d.elimination-by-aspects e.compensatory

a. conjunctive

Leveraging the decoy effect involves introducing an option that consumers will find attractive a.False b.True

a. false

The compromise effect will not occur when consumers are concerned about making the wrong decision a.False b.True

a. false

when would best buy be better able to sell product warranties? a. much crowd in the store b. minimal crowd in the store

a. much crowd in the store

Suppose a yoga studio gives customers the option to purchase either 5 classes for $75 ($15/ class), or 15 classes for $180 ($12/ class). If the studio introduces an option to buy 25 classes for $250 ($10/ class), then per class notes: a.Sales of the 15 class package will INCREASE b.Sales of the 15 class package will DECREASE

a. sales of the 15 class package will increase

Which of the following tends to be more holistic in nature, and the brand is not decomposed into distinct components that are evaluated separately from the whole? a.affective choice b.attribute-based choice

affective choice

Starbucks has three sizes: Tall (12oz), Grande (16oz) and Venti (24oz). If the sales of Venti sized drinks increased when Starbucks introduced the larger & more expensive Trenta size (31oz), then this is an example of: a.Decoy effect b.Compromise effect c.Endowment effect

b. compromise effect

lexicographic rule

consumers select the brand that is the best on the most important attribute

Attribute-based choice requires _____. a.the knowledge of specific attributes at the time the choice is made. b.attribute-by-attribute comparisons across brands. c.summary impressions. d.a and b e.all of the above

d. a and b

Joseph is considering the purchase of a computer, and he is comparing brands on the basis of price, memory, speed, and reliability. He mentally ranks each alternative on these attributes and makes a selection based on these rankings. Joseph is using which type of choice process? a.affective choice b.attitude-based choice c.rational choice d.attribute-based choice e.instrumental choice

d. attribute-based choice

The desired features or characteristics required to meet a consumer's needs are his or her _____. a.evoked set b.evoked criteria c.consideration criteria d.evaluative criteria e.evaluative set

d. evaluative criteria

compensatory decision rule

states that the brand that rates highest on the sum of the consumer's judgments of the relevant evaluative criteria will be chosen.

disjunctive rule

Establishes a minimum required performance for each important attribute (often a high level). All brands that meet or exceed the performance level for any key attribute are acceptable.

conjunctive rule

Establishes minimum required performance for each evaluative criterion. Selects the first (or all) brand(s) that meet or exceed these minimum standards.

Rebecca is a single woman in her 40s. She sold her Honda Civic and bought an Acura CSX, which is considerably more expensive, but she really liked it. She was going to her brother's house with her mother, and she asked that her mother drive. She didn't want her brother to see that she had purchased an expensive car for herself. Rebecca was experiencing _____. a.postpurchase anxiety b.consumption guilt c.consumption anxiety d.postpurchase dissonance

b. consumption guilt

Connie just purchased her first new car, and she's actually feeling a little bad about it. She's concerned about how much money she spent and how long she will be making car payments. She's not sure she made the right choice, either. She liked another car a little better, but ended up purchasing another model. Connie is experiencing _____. a. postpurchase worry b. postpurchase dissonance

b. post purchase dissonance

Which of the following statements is FALSE regarding information search? a.The amount of search depends on purchase involvement. b.Searching for information is free. c.Information search involves mental as well as physical activities that consumers must perform. d.The initial search generally produces a set of guides or decision restraints. e.Search has benefits such as finding a lower price or getter higher quality.

b. searching for information is free

Consider the study involving coffee mugs. In one case, students were given a coffee mug as theirs to keep, and later asked for what price they would sell the coffee mug. In another case, students were asked what price they would pay for this same coffee mug. One group gave their average price as $2.25, and one group gave an average price as $4.50. Which group gave the lower average price ($2.25)? a.The group that was initially given a coffee mug, but was asked if they wanted to sell b.The group that was not given a coffee mug, but was asked if they wanted one

b.The group that was not given a coffee mug, but was asked if they wanted one

Which of the following occurs when a consumer actively acquires a product that is not used or used only sparingly relative to its potential use? a.consumption guilt b.nonconsumption guilt c.product nonuse d.counterfactual thinking e.prefactual thinking

c. product nonuse

One aspect of purchasing from QVC, one of the cable shopping channels on television, is that the "offer" will expire within a certain amount of time, creating a sense of urgency among consumers. Teresa watches this channel frequently, and admitted that this aspect of the situation does influence her decision to buy something. Which characteristic of the situation is influencing Teresa and others' behavior? a. physical surroundings b. social surroundings c. temporal perspective d. task definition e. antecedent states

c. temporal perspective

Even if a dissatisfied consumer takes no external action, which of the following is likely? a.will engage in negative work-of-mouth b.will stop buying that brand c.will have a less favorable attitude toward the store or brand d.will stop buying at that store e.all of the above

c. will have a less favorable attitude toward the store or brand

How does music influence consumer behavior? a. subliminally b. reduces consumers' prediction of overcrowding c.changes temporal perspective d. influences mood e. changes cognitive structures

d. influences mood

which of the following statements is true regarding moods? a. moods are relatively stable states that are tied to a specific event or object. b. moods affect the consumption process, but they are not affected by the consumption process c. positive moods have not been shown to affect shopping behavior d. consumers do not actively manage their moods e. ad and brand attitudes are often influenced in a mood-congruent manner

e. ad and brand attitudes are often influenced in a mood-congruent manner

Which of the following is a noncompensatory decision rule? a.conjunctive b.disjunctive c.lexicographic d.elimination-by-aspects e.all of the above

e. all of the above

Which of the following is NEVER a type of consumer choice process? a.affective choice b.attitude-based choice c.rational choice d.a and b e.all of the above are types of consumer choice processes

e. all of the above choices are types of consumer choice processes

Which of the following is NOT an action a consumer may utilize to reduce dissonance? a.Increase the desirability of the brand purchased. b.Decrease the desirability of rejected alternatives. c.Decrease the importance of the purchase decision. d.Reverse the purchase decision (return the product before use). e.Increase the importance of alternatives that were not considered in the purchase initially.

e. increase the importance of alternatives that were not considered in the purchase initially

"the ratio of fructose to cellulose is an objective and unchanging property of apples, of course, but the experience of sweetness is a subjective property that increases when an apple becomes my apple" The above effect is termed_____ a.Asymmetric dominance b.Compromise effect c.Endowment effect d.Bounded rationality

endowment effect