MKTG 351 Final Exam Practice Questions

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 consumer choice processes

E. All of the above

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

A. Affective choice

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

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 a minimum required performance standards for each evaluation criterion and selects the first or all brands that meet or exceed those minimum standards? A. Conjunctive B. Disjunctive C. Lexicographic D. Elimination by aspects E. Compensatory

A. Conjunctive

What environment is most conducive to selling more product warranties within a store? A. Much crowd within the store B. Minimal crowd within the store

A. Much crowd within the store

Giving out candy to children on Halloween and wearing green on Saint Patrick's Day are examples of A. Ritual situations B. Momentary conditions C. Prescriptives D. Schemas E. Social surroundings

A. Ritual situations

What relationship between products does negative cross price elasticity express? A. The products are complements B. The products are independent C. The products are substitutes D. The product is inelastic

A. The products are complements

How did increasing the number of choices of jam affect sales and interest in the jam booth? A. Increased attraction to the booth B. Decreased sales of the jam C. Increased sales but not interest D. A and b

D. A and b

A company currently sells 46 shirts for $34.00. If they want to increase quantity sold what should they change the price to? (assume 9 ending price cues) A. $29 B. $39 C. $44 D. Do not raise price

B. $39

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

Duke basketball ticket holders pricing tickets higher than what non-ticket holders averaged them to be worth is an example of what? A. Compensatory rule B. Endowment effect C. Rationing D. Anticipation pricing

B. Endowment effect

Using the lexicographic decision rule, what next step does the consumer take when there is a tie between the most important attribute score? A. Evaluate all the brands on the second most important attribute B. Evaluate the tied two brands on the second most important attribute C. Choose the brand with a higher affective component D. Choose a different most important aspect and evaluate all again

B. Evaluate the two tied brands on the second most important attribute

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. Postpurchase 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 getting a higher quality

B. Searching for information is free

T/F Postpurchase dissonance is most common with low involvement, routine purchases.

False

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 is an example of a temporal perspective? A. A crowded store B. Happy and cheerful music C. A limited time offer D. The layout of the store

C. A limited time offer

A consumer choosing a product based mainly on their immediate emotional response to the product are making a ______ choice. A. Attitude based choice B. Attribute based choice C. Affective choice D. Rational choice

C. Affective choice

The statement "The ratio of fructose to cellulose is an objective and unchanging property of apples, but the experience of sweetness is a subjective property that increases when an apply becomes my apple" is an example of which effect? A. Asymmetric dominance B. Compromise effect C. Endowment effect D. Bounded rationality

C. Endowment effect

The brands that a consumer gives consideration too when making a purchase are know as the A. Awareness set B. Inept set C. Evoked set D. Inert set

C. Evoked set

Which of the following occurs when a consumer actively acquires a product that is not used or is 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. Which characteristic of the situation is influencing consumer behavior? A. Physical surroundings B. Social surrounding C. Temporal perspectives 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 word-of-mouth B. Will stop buying the brand C. Will have a less favorable attitude towards the store or brand D. Will stop buying at that store E. All of the above

C. Will have a less favorable attitude towards the store or brand

A brand conducts research and finds their NPS to be 27. If they have 1628 promotors, how many detractors do they have? A. 1452 B. 60 C. 1655 D. 1601

D. 1601

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

How does music influence consumer behavior? A. Subliminally B. Reduces consumer's perception of overcrowding C. Changes temporal perspective D. Influences mood E. Changes cognitive structures

D. Influences mood

Coupons are a popular options for marketers using a _____ strategy. A. Capture strategy B. Disrupt strategy C. Preference strategy D. Intercept strategy

D. Intercept strategy

More people registering to be organ donors in countries where it is the default option is an example of what? A. Rationing B. Nudging C. Endowment effect D. Status quo bias

D. Status quo bias

To use the conjunctive decision rule to evaluate alternatives, what information do you need? A. Consumer perceptions B. Evaluation criteria C. Importance of each evaluation criteria D. Minimum value for each criteria E. A, B and D F. All of the above

E. A, B and D

Which of the following statements is true regarding moods? A. Moods are relatively stable states that are tied to a specific even 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 mood states E. Ad and brand attitudes are often influenced in a mood-congruent behavior

E. Ad and brand attitudes are often influenced in a mood-congruent behavior

Given attribute cutoffs of Price = 5, Quality = 5, and Weight = 4, which of the following would be chosen using the disjunctive decision rule? NEC has price of 5, quality of 3 and weight of 3 Dell has price of 4, quality of 3 and weight of 3 Compaq has price of 4, quality of 5 and weight of 1 A. NEC B. Compaq C. Dell D. Compaq and Dell would be considered futher E. Compaq and NEC would be considered further

E. Compaq and NEC would be considered further

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 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

T/F Preference and acceptance marketing strategies are used when little to no external search is completed.

False

T/F External search is skewed towards extensive search, with most consumers spending numerous amount of time searching prior to purchase.

False

T/F Neoclassical economics states that consumers often fall prey to temptation.

False

Given what was said in class, when would Best Buy be better able to sell product warranties?

Much crowd in the store

T/F A positive cross price elasticity represents a substitute relationship between two goods.

True

T/F Behavioral economics believes consumers to have unstable preferences and the inability to place sufficient weight on future events and outcomes

True

T/F If the % change in price is greater than the % change in quantity sold, the product is inelastic.

True

T/F Internal and external searches for information are ongoing processes.

True

T/F Momentary conditions such as hunger or exhaustion are examples of antecedent states.

True

T/F Under neoclassical economics, people are rational, self-interested beings who are not interested in fairness.

True