EXAM THREE

Question 1

Voicer Complainers

Answer 1

Complain to company

Question 2

What is Prospect Theory?

Answer 2

Making decisions based on gains and losses; gains and losses are viewed differently

Question 3

Free Flow Model

Answer 3

Encourages browsing in the store, however not able to display as many products

Question 4

Noticeable features of a space (Color, Store Layout)

Answer 4

Design Factors

Question 5

Irate Complainers

Answer 5

Boycott

Question 6

Name all types of Choice Tactics

Answer 6

• Performance
• Price
• Habit
• Brand Loyalty
• Variety Seeking
• Impulse
• Brand Familiarity

Question 7

Awareness Set

Answer 7

Brands a consumer is aware of

Question 8

Inert Set

Answer 8

Indifferent towards options

Question 9

Low cost, frequent purchases, little thought, little involvement

Answer 9

Habitual Problem Solving

Question 10

Activists Complainers

Answer 10

Other external sources

Question 11

Consumers create “mental tabs” that go into specific accounts

Answer 11

Mental Accounting

Question 12

Evaluations someone makes of the alternatives when going through the decision-making process

Answer 12

Judgements

Question 13

Time influences on consumer behavior

Answer 13

Temporal Surroundings

Question 14

Owning an item increases its value

Answer 14

Endownment Effect

Question 15

Compensatory Model

Answer 15

Weigh positive and negative attributes (positive compensates negative)

Question 16

Final choice that is made based on attitudes and judgements

Answer 16

Decisions

Question 17

Expectation that a small number of people represents the larger population

Answer 17

Law of Small Numbers

Question 18

Customers make predictions about future emotions and outcomes

Answer 18

Affective Forecasting

Question 19

Seeking confirming information

Answer 19

Confirmation Bias

Question 20

The state you wanna be at

Answer 20

Ideal States

Question 21

Consumers actively put off making a decisions

Answer 21

Decision Delay

Question 22

Conjunctive Model

Answer 22

Processing by brand, setting a minimum cutoff level, first brand that meets expectations is selected

Question 23

Loop/Racetrack Model

Answer 23

Easily draws customer around the entire store, not ideal for high traffic stores

Question 24

Minimal difference between actual and ideal states

Answer 24

No Problem State

Question 25

Feelings about money influences how money is spent, intensity of feelings associated with each mental account

Answer 25

Emotional Accounting

Question 26

More expensive products, infrequent purchases, unfamiliar products with extensive thought

Answer 26

Extensive Problem Solving

Question 27

Evaluating the fairness of the exchange itself or fairness compared to others

Answer 27

Equity Theory

Question 28

Strike Zone

Answer 28

Customers generally turn right in the store

Question 29

Multi-Attribute Model

Answer 29

Processing by brand, weigh their importance, evaluate each brand based off of attributes

Question 30

Reason for Purchasing Behaviors

Answer 30

Task Definition

Question 31

Making a judgement based on comparison with others in prototypical categories

Answer 31

Representativeness Heuristics

Question 32

Name all types of Operant Conditioning

Answer 32

- Positive Reinforcement - Negative Reinforcement - Positive Punishment - Negative Punishment

Question 33

Name all Influences on Post-Purchase Dissonance

Answer 33

- Degree of commitment to the purchase decision - Importance of decision - Involvement level - Difficulty of choosing between alternatives - Impulse Purchases

Question 34

Based judgement on easy to recall events over finding new information

Answer 34

Availability Heuristics

Question 35

Consideration Set

Answer 35

Brands likely to be considered in purchase

Question 36

Feeling of uncertainty over making right decision

Answer 36

Post-Purchase Dissonance

Question 37

Grid Layout Model

Answer 37

Can display lots of products, can be physically cramped and does not encourage browsing

Question 38

Non Compensatory Model

Answer 38

Eliminating alternatives do not meet particular criteria (requires less effort) (negative attributes create immediate rejection)

Question 39

Design of a physical environment to influence customers’ moods and purchasing behaviors

Answer 39

Atmospherics

Question 40

Avoidance of Extremes

Answer 40

Extremeness Aversion

Question 41

Attempting to find explanations for events

Answer 41

Attribution Theory

Question 42

Bad things happen to others

Answer 42

Self-Positivity

Question 43

Most common form of scent marketing

Answer 43

Billboard Scenting

Question 44

Elimination By Aspects Model

Answer 44

Processing by attributes, consumer creates cutoffs, eliminate brands that do not meet minimum cutoff levels

Question 45

Making an initial evaluation (anchor) and then adjusting based on new information

Answer 45

Anchoring

Question 47

Inept Set

Answer 47

Unacceptable options

Question 48

Confirmation Bias and Self-Positivity are apart of...

Answer 48

Accuracy of Judgements

Question 49

Sensory elements (Lighting, Aroma, Music, Temperature)

Answer 49

Ambient Factors

Question 50

The state you are in now

Answer 50

Actual State

Question 51

Name all the Decision Models:

Answer 51

- Compensatory vs. Non Compensatory - Multi-Attribute Model - Elimination by Aspects Model - Conjunctive Model

Question 52

Décor, sound, light, weather, aroma, and merchandise configuration

Answer 52

Physical Surroundings

Question 53

Ignoring how often an event realistically occurs on average

Answer 53

Base Rate Information

Question 54

What is Decoy Effect?

Answer 54

Preference for one of two options changes when a third option is introduced

Question 55

Decompression Zone

Answer 55

First 10 feet in store

Question 56

Factors associated with time and place that temporarily affect how buyers behave

Answer 56

Situational Factors