Question 1

A(n) ________ puts people into a frame of mind, such as liking or disliking an object, moving toward or away from it.

Accepted Answer

An attitude is a psychological construct that affects an individual's evaluation of objects, people, events, or ideas. It is composed of feelings, beliefs, and behavioral tendencies towards a particular object or situation. Attitudes can influence people's decisions, actions, and behavior.

Question 2

Even if consumers form brand evaluations, two general factors can intervene between the purchase intention and the purchase decision: one is unanticipated situational factors; what is the other factor?

Accepted Answer

The other factor is the attitudes of others. This includes the influence of family, friends, and social norms on the decision-making process. Consumers may choose to conform to the attitudes of others or to differentiate themselves from them when making purchasing decisions.

Question 3

________ are rules of thumb or mental shortcuts in the decision process.

Accepted Answer

Heuristics are mental shortcuts that simplify decision-making by providing efficient rules of thumb or strategies. They are often used to reduce the cognitive load of decision-making and help individuals make quick and intuitive judgments based on limited information. Examples of common heuristics include the availability heuristic, representativeness heuristic, and anchoring heuristic.

Question 4

Marketers need to identify the hierarchy of attributes that guide consumer decision making in order to understand different competitive forces and how these various sets get formed. This process of identifying the hierarchy is called ________.

Accepted Answer

Market partitioning involves identifying the hierarchy of attributes that guide consumer decision making, helping marketers understand different competitive forces and how these attribute sets are formed.

Question 5

Gordon Jones is considering purchasing a computer from Best Buy. He has created a scale for rating eight different computers on three different characteristics. He plans to make a short list of only those computers that score at least a 7 on his scale on all three characteristics. Which of the following choice heuristics has he chosen?

Accepted Answer

Gordon Jones has chosen the conjunctive heuristic, which involves setting a minimum acceptable level for each attribute and only considering options that meet all of the minimum standards.

Question 6

________ risk occurs if the product fails to perform up to expectations.

Accepted Answer

Functional risk occurs when a product fails to perform as expected or does not meet the customer's needs. This type of risk is commonly associated with technological products or items with complex functionality, such as software, electronic devices or machinery. Consumers can experience functional risk when a product is not reliable, durable, efficient or safe as it should be, which can result in frustration, dissatisfaction and negative reviews or complaints.

Question 7

A mobile phone manufacturing company observes that the main reason for an abrupt fall in sales volume is the unconventional design of their phones that consumers found inconvenient and unattractive. The findings prompt the company to adopt a new strategy. They redesigned the product models keeping the requirements of the end-user in mind. According to the expectancy value-model, the company's strategy can be termed as ________.

Accepted Answer

The company's strategy of redesigning the product models keeping the requirements of the end-user in mind, according to the information provided in the question, is an example of real repositioning. Real repositioning involves altering the product, its features, or its image to meet the needs of the target audience. The other options (psychological repositioning, competitive depositioning, physiological depositioning, and prescriptive method) do not accurately describe the strategy outlined in the question.

Question 8

When a marketer tries to alter a consumer's beliefs about a company's brand to get the consumer to rethink a purchase decision, the marketer is using ________.

Accepted Answer

The answer of When a marketer tries to alter a...

Question 9

With respect to consumer decision making, the ________ set is the set of strong contenders from which one will be chosen as a supplier of a good or service.

Accepted Answer

The answer of With respect to consumer decision making, the...

Question 10

If Ty chooses a smart phone simply because he perceives it to be rated highest on megapixels, which he believes is the most important attribute in a smart phone, he is using a(n) ________ to help make his purchase decision.

Accepted Answer

Ty is using the lexicographic heuristic because he is choosing a smartphone based on the single attribute he considers most important (megapixels), without considering other attributes. This decision rule involves selecting the best option based on the most important attribute.

Question 11

________ are a person's enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea.

Accepted Answer

Attitudes are a person's enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea. Discriminations involve making distinctions between different people or things. Values are a person's beliefs about what is important or desirable. Beliefs are a person's convictions or opinions about something. Feelings are subjective experiences of emotion or mood.

Question 12

Ford believes its cars to be of higher quality than General Motor's but thinks that consumers wrongly believe the opposite. Ford might employ a(n) ________ strategy to change buyers' perceptions of its competition.

Accepted Answer

Competitive depositioning involves trying to change consumers' perceptions of the competition by highlighting weaknesses or negative aspects of the competitor's offerings. In this case, Ford would attempt to highlight the perceived lower quality of General Motors' cars to convince consumers that Ford's cars are of higher quality.

Question 13

With the ________ heuristic, the consumer sets a minimum acceptable cutoff level for each attribute and chooses the first alternative that meets the minimum standard for all attributes.

Accepted Answer

In the conjunctive heuristic, the consumer sets a minimum acceptable cutoff level for each attribute, and they choose the first alternative that meets the minimum standard for all attributes. This decision rule is useful when the consumer wants to minimize risk and chooses an alternative that is acceptable on all attributes, rather than looking for the alternative with the highest level of performance on a particular attribute.

Question 14

Jeremy is concerned about his selection of a new hair spray because he is concerned it will not perform as well as his usual brand, which may result in embarrassing, flat hair in front of others. The type of risk Jeremy perceives is ________ risk.

Accepted Answer

The type of risk Jeremy perceives is social because he is concerned about the potential embarrassment or negative perceptions from others if his hair does not look good.

Question 15

The expectancy-value model of attitude formation posits that consumers evaluate products and services by combining their ________.

Accepted Answer

The expectancy-value model of attitude formation suggests that consumers form attitudes towards products and services based on their beliefs about the brand, including its attributes and the benefits it offers, rather than merely on needs, wants, desires, or general consuming attitudes.

Question 16

If a consumer is shopping for a smart phone, all of the smart phone options available in the market - whether a consumer knows about them or not - is called the ________ set.

Accepted Answer

The total set encompasses all smart phone options available in the market, regardless of whether or not the consumer is aware of them.

Question 17

A(n) ________ is a descriptive thought that a person holds about something.

Accepted Answer

A belief is a thought or idea that a person holds about something, often based on their values, experiences, or understanding of the world. Beliefs can be positive, negative, or neutral and can influence a person's attitudes and behaviors.

Question 18

Steve has only 20 minutes to have lunch. Although he really likes McDonald's, the line is very long and he is concerned that he will not have a chance to get through the line and eat his lunch before he is due back at work. Steve perceives ________ risk in going to McDonald's today.

Accepted Answer

Steve's concern about not having enough time to get through the long line and eat his lunch before he is due back at work relates to time risk.

Question 19

A consumer who uses Google to find comparative reports on new automobiles, is most likely using which of the following information sources for assistance?

Accepted Answer

The consumer is most likely using a commercial information source, such as a website that specializes in providing information on new automobiles.

Question 20

With the ________ heuristic, the consumer chooses the best brand on the basis of its perceived most important attribute.

Accepted Answer

The lexicographic heuristic involves choosing the brand with the attribute that is perceived to be the most important.

Quiz 6: Analyzing Consumer Markets