Question 1

Tumi is simultaneously talking on his cell phone, checking an instant message, streaming music, and browsing the web.Consumer psychologists would say that he is engaged in ____.

Accepted Answer

Tumi is engaged in polychronic activity, which means he is multitasking and engaging in multiple activities at the same time.

Question 2

In consumer psychology, the term shrinkage refers to ____.

Accepted Answer

Shrinkage in consumer psychology refers to a company's loss of money or inventory as a result of shoplifting or employee theft. This term is commonly used in the retail industry to measure the difference between a store's actual inventory and the amount of inventory that should be on hand based on sales records. Shrinkage can have a significant impact on a company's profitability, and retailers often implement measures to prevent or reduce it.

Question 3

_____ are a strong predictor of whether consumers patronise fast-food restaurants.

Accepted Answer

Subjective norms refer to the perceived social pressures to perform or not perform a behavior. In the context of fast-food restaurants, subjective norms might include beliefs about what one's peers or family members think about eating fast food. Research has shown that subjective norms are a strong predictor of fast-food patronage.

Question 4

Which explanation of conspicuous consumption fits with terror management theory?

Accepted Answer

Terror management theory suggests that humans have a fear of death and the acquisition of material possessions can serve as a way to feel like their existence extends beyond death. This idea aligns with the concept of conspicuous consumption.

Question 5

The term ____ refers to selling or giving a previously purchased product to someone else to use for its intended purpose.

Accepted Answer

Lateral cycling is the process of selling or giving a previously purchased product to someone else to use for its intended purpose. E-commerce refers to buying and selling goods or services over the internet. Social currency refers to the benefits and advantages an individual or brand derives from their social network. Guerilla consumption refers to the act of consuming a product or service in a non-traditional way, often in defiance of societal norms.

Question 6

Research indicates that the presence of credit card stimuli is associated with ____.

Accepted Answer

Research indicates that the presence of credit card stimuli can cause people to make quicker decisions to spend.

Question 7

Many consumers today are feeling time compression, leading them to select products that will alleviate time pressure.In consumer psychology terminology, this phenomenon is called ____.

Accepted Answer

Time poverty refers to the feeling of being time-poor or having a lack of time due to various commitments and responsibilities. This feeling of time compression often leads consumers to choose products and services that can save time, such as fast food or one-stop shopping. Thus, option A is the correct answer. Option B, the commons dilemma, refers to a situation where individuals use a shared resource to their advantage, ultimately leading to depletion of that resource. Option C, polychronic poverty, does not have any scientific backing or reference, and Option D, time shrinkage, is not a recognized term in consumer psychology.

Question 8

What is one important way in which consumers today differ from consumers in previous decades?

Accepted Answer

Consumers today have a more time-pressed lifestyle, as they have more responsibilities and less leisure time compared to previous decades. This has resulted in a shift in consumer behavior, with consumers valuing convenience and efficiency over other factors when making purchasing decisions.

Question 9

Adbul is too cheap to buy weights to do weight-lifting.He therefore decides to use bottled water instead.Consumer psychologists would say that this is an example of ____.

Accepted Answer

This is an example of product misuse. Adbul is using the bottled water in a way that was not intended by the manufacturer.

Quiz 15: Applying social psychology to consumer behaviour