Question 1

Directories and portals,website evaluators,forums,fan clubs,and user groups are all forms of which of the following?

Accepted Answer

Directories and portals, website evaluators, forums, fan clubs, and user groups are all examples of cybermediaries. Cybermediaries refer to online intermediaries that facilitate transactions between buyers and sellers, or provide other types of online assistance, such as information or support services.

Question 2

Jamie is considering ordering a dessert for lunch. Before she ever decides on the kind she prefers,she decides whether to get a fattening or nonfattening dessert. This decision relates to which of the following levels of abstraction of dessert categories?

Accepted Answer

The decision between a fattening or nonfattening dessert category is at the basic level of abstraction, which is the most informative and useful level for categorization. The superordinate level would be too broad (e.g. food), the ordinate level too specific (e.g. chocolate cake), and the normal level too vague (e.g. dessert).

Question 3

Craig had heard stories about toaster disasters from his friends. This brand blew up,that one shorted out,another had not lasted even a year,and so on. He knew he should not consider those brands. They were Craig's:

Accepted Answer

The answer of Craig had heard stories about toaster disasters...

Question 4

Which buyers are most sensitive to psychological risks in purchase decisions?

Accepted Answer

The answer of Which buyers are most sensitive to psychological...

Question 5

Product designers making items such as smartphones and tablets have a tendency to maximize the features included. What is this called?

Accepted Answer

Feature creep refers to the continuous addition of features or functions to a product without considering the impact on its usability or user experience. This can result in an overly complicated and confusing product.

Question 6

Consumers realize they face risks in buying products,of which some factors are objective (unsafe products)and some subjective (embarrassment). Which type of perceived risk is inherent in the purchase of either visible or symbolic goods that are visible to others?

Accepted Answer

The perceived risk inherent in the purchase of visible or symbolic goods that are visible to others is social risk. Social risk refers to the potential negative consequences on the consumer's social image or status if the product fails to meet others' expectations. This type of risk is subjective and relates to how others perceive the consumer's purchase decision. Examples of products that may involve social risk include luxury goods, fashion items, and high-end technology products.

Question 7

When Jacob first thought of buying a new vehicle,he could name at least eight SUV models. His friend Emily could think of only four. Jacob spent several weeks researching SUVs and rejected five of the models. His evoked set is now smaller than Emily's. Why?

Accepted Answer

Jacob rejected five of the SUV models, which means they were no longer under consideration and therefore not included in his evoked set. This resulted in a smaller evoked set compared to Emily's, who may have not yet gone through the process of considering and rejecting certain models.

Question 8

A small company,Graig Inventions,produced a pill that had the nutrient value of a healthy breakfast. They put it on the market as a substitute for breakfast for busy people. The product failed. Graig Inventions then marketed the pill as a diet product and it became very successful. What does the example best demonstrate?

Accepted Answer

The example best demonstrates that the company did not position the product well. Despite having the nutrient value of a healthy breakfast, consumers were not convinced that a pill could replace an actual breakfast. However, marketing the product as a diet pill, which fit within an existing category that consumers were familiar with, led to its success. This shows that the company's initial positioning was not effective, but by understanding the consumer's categorization and perception of the product, they were able to successfully market it as a diet pill.

Question 9

Yasser has expert knowledge about computers. He is now in the market for a new model. He will make a:

Accepted Answer

The answer of Yasser has expert knowledge about computers. He...

Question 10

Mona feels that she is moderately knowledgeable about foreign films. Her friend Kim admits to knowing almost nothing about these films,while her other friend Wanda has just finished a course in foreign films with the highest grade in the class. Of the three friends,who is most likely to seek the most information about a new foreign film being shown on campus before deciding to see the film?

Accepted Answer

The answer of Mona feels that she is moderately knowledgeable...

Question 11

Justin has always had an intense interest in steam engines. He has one of the largest collections of pictures and facts about the engines in the United States. He decides to share his interest with others by being a cybermediary. Of the following,which is the best description of what Justin will do as a cybermediary?

Accepted Answer

The answer of Justin has always had an intense interest...

Question 12

When consumers anticipate having to use a product in front of others,they tend to prefer ________ products.

Accepted Answer

The answer of When consumers anticipate having to use a...

Question 13

High-ticket items that require substantial expenditures are most subject to which form of purchase risk?

Accepted Answer

Monetary risk refers to the risk of financial loss due to the high cost of the item. High-ticket items require substantial expenditures, thus making them more subject to monetary risk. The other types of purchase risks (functional, physical, social) are still present with high-ticket items, but monetary risk is the most significant factor.

Question 14

What is the key distinction between a social risk and a psychological risk?

Accepted Answer

The key distinction between a social risk and a psychological risk is whether the risk is public (social) or private (psychological). Social risks refer to the potential embarrassment or negative impression that may result from using or owning a certain product, while psychological risks refer to the potential emotional or mental harm that may result from using or owning a certain product. The cost of the product, physical danger, and involvement level are not relevant factors in this distinction.

Question 15

Coca-Cola would be an example of a(n)________ product because it has come to characterize an entire category of soft drinks.

Accepted Answer

An exemplar is a product that has come to represent or characterize an entire category of products. Coca-Cola is a classic example of an exemplar, as it is often used to describe all types of soda or soft drinks, regardless of brand or flavor. Criteria, heuristic, and evoked do not accurately describe Coca-Cola in this context.

Question 16

The dimensions or qualities a consumer uses when judging the merits of competing purchase options are called:

Accepted Answer

Evaluative criteria are the dimensions or qualities that consumers use to evaluate competing purchase options. They are the factors that consumers consider when making a purchase decision, such as price, quality, convenience, and brand image. It is important for marketers to understand the evaluative criteria that consumers use in order to develop marketing strategies that effectively target their needs and preferences.

Question 17

Although Greg had considered numerous factors when looking at several models of ten-speed bikes,the critical or deciding factors that led to an actual purchase are called:

Accepted Answer

The critical or deciding factors that lead to an actual purchase are determinant attributes. These are the features or characteristics that are most important to the consumer when making a decision.

Question 18

Shawna believes she is a practical consumer. She is always on the lookout for better ways to obtain order in her life and make housework easier. New products that promise to help with these work tasks catch her eye. However,she sometimes makes mistakes by buying products that do not deliver on their promises to do the work required. Considering the above description,Shawna could be prone to which of the following types of perceived risk?

Accepted Answer

Shawna is concerned with the functional performance of products and their ability to make her life easier. She is looking for practical solutions and is likely to perceive functional risk if a product does not live up to its promises.

Question 19

Jill's purchase of the Miracle Diet pills was most sensitive to which kind of perceived purchase risk?

Accepted Answer

Physical risk refers to the potential harm or danger that a product may pose to the consumer. In this case, the Miracle Diet pills may have harmful side effects on Jill's physical health, making her purchase sensitive to physical risk.

Question 20

As a rule,decisions that involve some kind of ________ are more likely to result in the consumer's engaging in a more extensive search.

Accepted Answer

Perceived risk refers to the consumer's perception of the potential negative consequences of making a wrong purchase decision. It can be financial, social,physical and the like. Consumers tend to engage in more extensive information search when they perceive higher levels of risk involved in a purchase decision.

Quiz 9: Individual Decision Making