Final MCQs

All of the following are adopter groups EXCEPT A. Early refusers. B. Innovators. C. Laggards. D. Early adopters. E. The late majority.

*A. Early refusers.* B. Innovators. C. Laggards. D. Early adopters. E. The late majority.

According to prospect theory A. losses are more important to consumers than gains, even if the magnitude of the two is the same. B. gains are more important to consumers even if the two are the same magnitude. C. consumers will spend a lot of time and effort prospecting for a bargain. D. consumers will not accept alternatives with a rating below a minimum cutoff level. E. consumers rarely respond to promotional offers of "12 months to pay with no interest."

*A. losses are more important to consumers than gains, even if the magnitude of the two is the same.* B. gains are more important to consumers even if the two are the same magnitude. C. consumers will spend a lot of time and effort prospecting for a bargain. D. consumers will not accept alternatives with a rating below a minimum cutoff level. E. consumers rarely respond to promotional offers of "12 months to pay with no interest."

Introducing a new left-hand drive car in a country where all cars are right-hand drive is likely to fail because of the problem of: A. Divisibility B. Communicability C. Compatibility D. Emotional barrier E. Uncertainty

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Under the dual mediation hypothesis, consumers form their attitude toward a brand by A. Attitude toward the ad & intention to purchase the brand B. Brand beliefs influenced by the ad & intention to purchase the brand C. Intention to purchase the brand & normative influence D. Brand beliefs influenced by the ad & Attitude toward the ad E. None of the above

A. Attitude toward the ad & intention to purchase the brand B. Brand beliefs influenced by the ad & intention to purchase the brand C. Intention to purchase the brand & normative influence *D. Brand beliefs influenced by the ad & Attitude toward the ad* E. None of the above

When they were invented, airplanes fundamentally affected how, when, and where consumers traveled. At the time they were invented, they were regarded as a A. Cannibalization product. B. Continuous innovation. C. Dynamically continuous innovation. D. Discontinuous innovation. E. Hedonically schematic innovation.

A. Cannibalization product. B. Continuous innovation. C. Dynamically continuous innovation. *D. Discontinuous innovation.* E. Hedonically schematic innovation.

Using attractive and celebrity sources, music, humor, or sex in advertising are strategies to influence consumer attitudes in which of the following situations? A. Cognitive bases and high effort. B. Affective bases and low effort. C. Cognitive bases and low effort. D. Affective bases and high effort. E. None of the above.

A. Cognitive bases and high effort. *B. Affective bases and low effort.* C. Cognitive bases and low effort. D. Affective bases and high effort. E. None of the above.

When consumers have to choose from many brands they will follow the strategy of A. Compensatory evaluation followed by non-compensatory evaluation B. Attributes-specific evaluation followed by overall evaluation C. Non-compensatory evaluation followed by compensatory evaluation D. Overall evaluation followed by attributes-specific evaluation E. None of the above

A. Compensatory evaluation followed by non-compensatory evaluation B. Attributes-specific evaluation followed by overall evaluation *C. Non-compensatory evaluation followed by compensatory evaluation* D. Overall evaluation followed by attributes-specific evaluation E. None of the above

Sellers typically ask a higher price for an item than buyers are willing to pay. This is called a(n) A. Compensatory model. B. Noncompensatory model. C. Endowment effect. D. Elimination by aspect model. E. Lexicographical model.

A. Compensatory model. B. Noncompensatory model. *C. Endowment effect.* D. Elimination by aspect model. E. Lexicographical model.

Representativeness and availability are two major types of A. Compensatory processes B. Noncompensatory processes C. Heuristics D. Evaluations E. Emotional processing

A. Compensatory processes B. Noncompensatory processes *C. Heuristics* D. Evaluations E. Emotional processing

Innovations entailing low degree of product change & high degree of behavior change required are called A. Easy sells B. Smash hits C. Sure failures D. Long hauls E. Discontinuous innovations

A. Easy sells B. Smash hits *C. Sure failures* D. Long hauls E. Discontinuous innovations

John Marsden is an executive with a local software company. He is required to wear business suits almost every week day that he works. John has held his position for several years and has purchased suits during that period. As Spring is approaching, John realizes that he needs a new light-weight suit. John's purchase of an additional suit will most likely involve _____________ decision making. A. Extended problem solving B. Repeated problem solving C. Routine problem solving D. Intensive problem solving E. Limited problem solving

A. Extended problem solving *B. Repeated problem solving* C. Routine problem solving D. Intensive problem solving E. Limited problem solving

Which of the following is NOT a type of influence that groups can exert on consumers? A. Normative influence B. Informational influence C. Value expressive influence D. All of the above are valid influences E. Brand commitment

A. Normative influence B. Informational influence C. Value expressive influence D. All of the above are valid influences *E. Brand commitment*

In one study, consumers were asked to make judgments about ground beef. One group was told that the beef was 75% lean, and another was told that it was 25% fat. Even though these two statements contain identical information, the "lean" group produced significantly more positive ratings than the "fat" group. This process is called: A. Perceptual mapping B. Retrieval processing bias C. Quality processing bias D. Identical differentiation E. Framing of decision task (prospect theory)

A. Perceptual mapping B. Retrieval processing bias C. Quality processing bias D. Identical differentiation *E. Framing of decision task (prospect theory)*

All of the following are barriers to the adoption of a new product innovation EXCEPT _______ A. Product complexity B. Promotion C. Perceived risk D. Psychological factors E. Competition

A. Product complexity *B. Promotion* C. Perceived risk D. Psychological factors E. Competition

The fact that consumers only think about Crest as a whitening toothpaste despite other toothpaste brands providing the same benefit is a reflection of which decision making heuristic? A. Representativeness B. Anchor-and-adjustment C. Frequency D. Availability E. Brand extension

A. Representativeness B. Anchor-and-adjustment C. Frequency *D. Availability* E. Brand extension

The ____ proposes that products initially go through a period of introduction, followed by relatively rapid growth as more competitors enter the market and consumer acceptance of the product increases. As competition increases, weaker competitors drop out of the market and product sales tend to stabilize. Later, sales decline. A. Sales model B. Diffusion model C. Competition law D. Market survival law E. Product life cycle

A. Sales model B. Diffusion model C. Competition law D. Market survival law *E. Product life cycle*

Judgments do not require A. The retrieval of information B. Information processing C. Making a decision D. Evaluations E. Estimations

A. The retrieval of information B. Information processing *C. Making a decision* D. Evaluations E. Estimations

Which of the following statement(s) about anchoring & adjustment heuristic is CORRECT? A. The similarity of the target brand to another brand is critical B. Helps evaluate the importance of a specific attribute C. Directly helps a consumer select one brand over another D. The consumer uses another brand's performance on an attribute as a reference and changes that performance upward or downward to make an estimate of the target brand's performance on that attribute E. The prototype is not useful for this process

A. The similarity of the target brand to another brand is critical B. Helps evaluate the importance of a specific attribute C. Directly helps a consumer select one brand over another *D. The consumer uses another brand's performance on an attribute as a reference and changes that performance upward or downward to make an estimate of the target brand's performance on that attribute* E. The prototype is not useful for this process

A consumer sees an ad for a Nissan Altima. If the consumer's prior evaluation of the Nissan name is positive, additional information about the car obtained from the ad can then be used to adjust this initial value either upward or downward. This is an example of A. judgment of goodness and badness B. an anchoring and adjustment process C. the assessment process D. belief strength E. an estimation of likelihood

A. judgment of goodness and badness *B. an anchoring and adjustment process* C. the assessment process D. belief strength E. an estimation of likelihood

According to prospect theory, a consumer in a casino who A. won $200 is likely to take the risk of betting another $200 B. lost $200 is likely to take the risk of betting another $200 C. won $200 is likely to not take the risk of betting another $200 D. lost $200 is likely to not take the risk of betting another $200 E. B & C

A. won $200 is likely to take the risk of betting another $200 B. lost $200 is likely to take the risk of betting another $200 C. won $200 is likely to not take the risk of betting another $200 D. lost $200 is likely to not take the risk of betting another $200 *E. B & C*