Exam 4

Question 1

Every consumer decision is…

Answer 1

A response to a problem

Question 2

Types of involvement: degree of interest in a certain product category

Answer 2

Product involvement

Question 3

Types of involvement: level of engagement with marketing communication

Answer 3

Message involvement

Question 4

Types of involvement: temporary interest due to certain situation

Answer 4

Situational involvement

Question 5

Types of involvement: long term interest even when there is no purchase needed

Answer 5

Enduring involvement

Question 6

Types of involvement: focus on importance of purchase itself, regardless of product category

Answer 6

Purchase decision involvement

Question 7

Types of involvement: sense of self, values is closely product to product

Answer 7

Ego involvement

Question 8

Types of perceived risk

Answer 8

Financial, performance/functional, physical/safety, social, psychological, time

Question 9

Habitual decision making

Answer 9

Behavioral, automatic, unconscious

Question 10

Affective decision making

Answer 10

Emotional

Question 11

Cognitive decision making

Answer 11

Rational

Question 12

To repeatedly but protect w/o attachment

Answer 12

Inertia

Question 13

Conscious decision to buy brand

Answer 13

Brand loyalty

Question 14

Step one of decision making process

Answer 14

Problem recognition

Question 15

Types of problem recognition

Answer 15

Need and opportunity

Question 16

Step 2 of cognitive decision among process

Answer 16

Information search

Question 17

Types of info search

Answer 17

Ongoing, pre purchase, internal (retrieval of memory), external

Question 18

Too much info to process is called

Answer 18

Information overload

Question 19

Set that is large and brands that customers have reasonable access to

Answer 19

Universal set

Question 20

Set of brands that the customer is familiar with

Answer 20

Evoked Set

Question 21

Set of brands the customer will seriously consider

Answer 21

Consideration set

Question 22

Set of brands the consumer is indifferent towards

Answer 22

Inert set

Question 23

Set of rejected brands

Answer 23

Inept set

Question 24

The final group of brands that the consumer has narrowed down

Answer 24

Choice set

Question 25

Increased anxiety or decision paralysis of cause of

Answer 25

Choice overload

Question 26

Optimal amount of choices is

Answer 26

7 +/- (millers law)

Question 27

Dimensions that can be used to judge the merits of competing options

Answer 27

Evaluative criteria

Question 28

Differentiators (make or brake purchase

Answer 28

Determinat attributes

Question 29

Customer that but based of good enough, efficiency, and quickly

Answer 29

Satisficers

Question 30

Perfectionists, take time in decision, likely to experience buyer remorse

Answer 30

Maximizers

Question 31

People are limited to make fully rational decisions due to constraints such as time, info availability, cognitive capacity

Answer 31

Bounded rationality

Question 32

Rules that allows tradeoffs, chose the best overall

Answer 32

Compensatory rules

Question 33

No exception rules

Answer 33

Non compensatory rules

Question 34

Minimum acceptable level rule

Answer 34

Conjunctive rule

Question 35

Minimum level rule but only for dominant attributes

Answer 35

Disjunctive rule

Question 36

Rule that looks at only most important attribute

Answer 36

Lexicographic rule

Question 37

Eliminate rule if brand doesn’t have certain attributes

Answer 37

Eliminate by aspects rule

Question 38

Sum of points for each brand rule

Answer 38

Simple additive rule

Question 39

Weight x points = weighted sum rule

Answer 39

Simple additive w/ weights rule

Question 40

Feeling uncomfortable/having doubts about a decision and occurs before satisfaction is the phenomenon called

Answer 40

Cognitive dissonance

Question 41

Cognitive decision making process (PIECE)

Answer 41

1. Problem 2. Information search 3. Evaluation of alternatives 4. Choice 5. Post purchase evaluation

Question 42

Expectations and performance perceptions 🔜 disconfirmation 🔜 (dis) satisfaction

Answer 42

Expectancy disconformation model

Question 43

NPS or net promoter score is

Answer 43

Promoters (9-10), passives (7-8), detractors (0-6)

Question 44

NPS is single question on 0-10 scale (T/F)

Answer 44

True

Question 45

NPS =

Answer 45

Promoters - subtractors (%-%)

Question 46

Under 0 on NPS scale

Answer 46

Needs improvement

Question 47

0-30 on NPS scale

Answer 47

Good

Question 48

30-70 on NPS scale

Answer 48

Great

Question 49

70-100 on NPS scale

Answer 49

Excellent

Question 50

Both customer satisfaction and dissatisfaction happen after consumption (T/F)

Answer 50

True

Question 51

The idea that loss weighs heavier than gain and leads to risk bahavior

Answer 51

Loss aversion

Question 52

Expectations: beliefs of the will do

Answer 52

Performance

Question 53

Expectations: the should do

Answer 53

Normative

Question 54

Expectations: based on historical outcome

Answer 54

Predictive

Question 55

Expectations: best possible outcome

Answer 55

Ideal

Question 56

Expectations: based on price or loyalty

Answer 56

Deserved

Question 57

Source of expectations

Answer 57

World of mouth, experience, marketing, price, product/service specifications

Question 58

The process of conparing expectations with actual experience

Answer 58

Disconformation

Question 59

Expectations < performance

Answer 59

Positive disconformation

Question 60

Expectations = performance

Answer 60

Simple conformation

Question 61

Expectations > performance

Answer 61

Negative disconformation

Question 62

How humans assign reasons to outcome of product/service

Answer 62

Attribution theory

Question 63

Locus of control

Answer 63

Internal: within consumer control External: outside control

Question 64

Likeliness to change (stable vs unstable)

Answer 64

Stability

Question 65

Controlability

Answer 65

Controllable leads to anger and uncontrollable leads to more understanding