Consumer Behavior - WK 9 Quiz 8

When using the ______ rule of decision making, a consumer evaluates brands on the most important attribute, but specific cutoffs are imposed. A: elimination-by-aspect B: conjunctive C: compensatory D: lexicographic

A: elimination-by-aspect

Tomorrow, Janice will be attending a party with a buffet. In anticipation of splurging on delicious food, she is eating very little today. Janice is using a ________ to help her estimate consumption over time and regulate her behavior. A: mental budget B: constructive process C: cognitive process D: diet

A: mental budget

Tanya type scans the newspaper ads every day for new information about current fashion styles and trends, even though she isn't thinking about buying clothes anytime soon. Tanya is engaging in a(n) ________ search. A: ongoing B: delayed C: internal D: pre-purchase

A: ongoing

Les just bought a megaphone of root beer. As he drinks from the giant cup, he eventually becomes full. One of his friends comments, "If you don't stop drinking that stuff, you will get sick." Les replies, "Hey, I bought it, & I am not going to waste one drop." Les's behavior best illustrates_______. A: risk positioning B: loss aversion C: the sunk-cost fallacy D: hyperopia

C: the sunk-cost fallacy

Casinos make their interiors very plush and expensive looking, knowing that gamblers who would be reluctant to make a $10 bet in average surroundings would gladly make $100 wagers in luxurious surroundings. Which of the following best explains the gamblers' behavior? A: The luxurious surroundings increase the probability of classical conditioning through mere exposure through mere exposure, which results in behavior that is not rational. B: The functional risk of gambling is decreased in luxurious surroundings, leading gamblers to wager more. C: Most people are unaware of the true risk of making certain decisions & believe that a larger wager has higher odds of winning, D: Mental accounting emphasizes the extraneous characteristics of the choice environment even if the results are not rational.

D: Mental accounting emphasizes the extraneous characteristics of the choice environment even if the results are not rational.