MKT 310 Exam 3 Practice Questions

The evaluation of alternatives is the third stage of the consumer decision-making process. - True - False

true

A mental or problem-solving shortcut to make a decision is called a(n) ________. a. determinant b. detail rule c. heuristic d. experience rule

heuristic

When using the ________ rule of decision making, a consumer evaluates brands on the most important attribute, but specific cutoffs are imposed. a. lexicographic b. elimination-by-aspects c. conjunctive d. compensatory

conjunctive

The alternatives actively measured during a consumer's choice process are the ________ set. a. inert b. evoked c. evaluate d. consideration

consideration

The first step in the consumer decision-making process is to conduct an information search. - True - False

false

People often make decisions on the basis of mental accounting. One facet of this accounting is making a decision based on the way a problem was posed. This is called a. framing b. the sum-cost fallacy c. loss aversion d. positioning

framing

Buying decisions that are made with little or no conscious effort are called ________. a. close minded b. habitual c. satisficing d. extended

habitual

________ is the process by which the consumer surveys the environment for appropriate data to make a reasonable decision. a. Problem recognition b. Evaluation of alternatives c. Information search d. Product choice

information search

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. constructive process b. mental budget c. diet d. cognitive process

mental budget

If a consumer's ideal state is very near or identical to his or her actual state, which of the following best describes the type of problem recognition the consumer would most likely have? a. opportunity recognition b. need recognition c. search recognition d. no problem recognition

no problem recognition

According to the ________ rule, a product with a low standing on one attribute cannot make up for this position by being better on another attribute. a. noncompensatory b. lexicographic c. elimination-by-aspects d. conjunctive

noncompensatory

Chen Lo uses a decision rule that says "Only buy well-known brand names" when selecting a set of golf clubs. He does not look at price, the store, or even discounts when purchasing clubs. Chen Lo's purchasing pattern is an example of a consumer using a ________. a. habit decision rule b. compensatory rule c. noncompensatory rule d. conjunctive rule

noncompensatory rule

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. pre-purchase b. ongoing c. internal d. delayed

ongoing

Which of the following occurs when a consumer uses a selected product and decides whether it merits his or her expectations? a. feature creep b. inertia c. framing d. post-purchase evaluation

post-purchase evaluation

The first stage in the consumer decision-making process is ________. a. information search b. evaluation of alternatives c. problem recognition d. product choice

problem recognition

According to ________, utility is defined in terms of gains and losses. a. prospect theory b. heuristics c. hyperopia d. Zipf's law

prospect theory

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. a. problem recognition b. rational perspective c. evoked set d. consideration set

rational perspective

A decision strategy that seeks to deliver an adequate solution rather than the best possible solution is referred to as ________. a. inertia b. rationalizing c. satisficing d. anchoring

satisficing

Cedric runs out of gas on the way to work. He thinks to himself-"How stupid I am!" Cedric has experienced a form of a problem recognition that is being dominated by a downward movement in his actual state. - true - false

true

Evaluative criteria are the dimensions we use to judge the merits of competing options. - true - false

true

Hirosi ordered the expensive "heart attack special" at the local pub. It came with a one-pound hamburger and a full bucket of fries. Halfway through the meal, Hirosi was not feeling well. Yet according to the sunk-cost fallacy, Hirosi will likely continue until he has finished the "special." - True - False

true

Needs are created when the actual state of a customer declines. - True - False

true

Shortcuts are considered heuristics, or "mental rules-of-thumb" in decision making. - True - False

true