Question 1

All of the brands I can recall or remember at any time, regardless of whether I would actually consider purchasing them, is called what?

Accepted Answer

The evoked set refers to the set of brands that a consumer considers purchasing when they're in the market for a particular product or service. It includes brands that the consumer can recall or remember at any time, regardless of whether they're actually considering buying them. The evoked set is an important concept in marketing because it helps companies understand which brands are top-of-mind for consumers and how they can influence consumers' brand preferences.

Question 2

Which of the following statements about the consideration set is false?

Accepted Answer

Statement C is false as a consideration set can consist of just one brand. It is not necessary to have at least 2 brands in the consideration set.

Question 3

The MODE model is a dual-process model.

Accepted Answer

The MODE model proposes that two cognitive processes operate simultaneously: associative processing and rule-based processing, making it a dual-process model.

Question 4

consists of all of the brands a person will consider purchasing.

Accepted Answer

The consideration set consists of the brands that a consumer will consider purchasing. The other options are incorrect:

- Evoked set: the brands a consumer thinks of when asked to name brands in a certain category; 
- Brand recall set: the brands a consumer can remember from memory or recognize when seen; 
- Primary decision set: the brands a consumer seriously considers purchasing; 
- Brand awareness set: the set of brands that a consumer knows exist in a certain category.

Question 5

The simulation heuristic is most closely tied to similarity.

Accepted Answer

The simulation heuristic is more closely tied to the ease with which people can imagine an event occurring, rather than similarity.

Question 6

Heuristic processing is more likely when buying ketchup and less likely when buying furniture.

Accepted Answer

Heuristic processing is a cognitive shortcut that involves making decisions based on readily available information, without considering all possible options. When buying something like ketchup, which is a low-involvement product with little variation between brands, consumers are more likely to use heuristic processing to quickly select a familiar brand. However, when buying furniture, which is often a higher involvement purchase with many options and considerations, consumers are more likely to engage in systematic processing and carefully consider their options.

Question 7

For attribute-based choice to work, a prior brand attitude must exist.

Accepted Answer

Attribute-based choice involves evaluating the specific attributes or features of different options, and a prior brand attitude is not necessary for this process to occur. Consumers can make decisions based on the attributes of products or services without having a pre-existing attitude towards the brand.

Question 8

According to your readings, puffery is illegal in the United States.

Accepted Answer

Puffery is not illegal in the United States. While it is considered to be exaggerated or misleading advertising, it is not considered to be a legal offense since it does not make false claims about a product or service.

Question 9

The lexicographic heuristic involves choosing the best brand on the basis of its most important attribute.

Accepted Answer

The lexicographic heuristic is a decision-making strategy where the consumer selects the brand with the best value on its most important attribute.

Question 10

The additive-difference heuristic involves comparing alternatives on an attribute selected probabilistically and eliminating or rejecting alternatives that do not meet a minimum cutoff point on this attribute.

Accepted Answer

The additive-difference heuristic involves comparing alternatives by looking at the differences in their attributes, adding up these differences for each alternative, and then choosing the alternative with the most favorable sum, rather than selecting an attribute probabilistically and eliminating alternatives based on a minimum cutoff point.

Question 11

An important piece of information often overlooked due to the simulation heuristic is the base rate.

Accepted Answer

The answer of An important piece of information often overlooked...

Question 12

Regression to the mean tells us that unusual events are usually followed by more typical events.

Accepted Answer

Regression to the mean is a statistical phenomenon where extreme or unusual events are likely to be followed by more average or typical events. This phenomenon has been observed in various fields such as sports, psychology, and economics.

Question 13

The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics.

Accepted Answer

The MODE model suggests that when motivation and opportunity are low, individuals are more likely to rely on automatic, heuristic processes for decision-making, rather than engaging in deliberate, systematic processing.

Question 14

The conjunctive heuristic involves choosing the best brand on the basis of all of its most important attributes.

Accepted Answer

The conjunctive heuristic involves choosing the best brand on the basis of all of its most important attributes.

Question 15

The lexicographic heuristic involves setting a minimum acceptable cutoff level for each attribute and selecting the first alternative that meets the minimum standard for all attributes.

Accepted Answer

The lexicographic heuristic involves ranking attributes by their importance, then comparing alternatives based on the most important attribute first, moving to the next most important attribute only if there is a tie.

Question 16

Sally believes if she just keeps playing the lottery, eventually she will win.Sally is suffering from the law of large numbers bias.

Accepted Answer

Sally is actually experiencing the gambler's fallacy, which is the mistaken belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa, in situations where events are truly random and independent of each other. The law of large numbers is a principle that describes the result of performing the same experiment a large number of times, stating that the average of the results obtained from a large number of trials should be close to the expected value, and will tend to become closer as more trials are performed.

Question 17

In compensatory choice strategies, good attributes can make up for bad attributes.

Accepted Answer

Compensatory choice strategies allow individuals to evaluate the overall value of a product or service by considering its good and bad attributes. In this strategy, good attributes can compensate for the negative attributes, and vice versa.

Question 18

In attribute-based versus attitude-based choice, attitude information is typically more accessible than specific
attribute information (meaning the information is easier to recall); but when there are few obvious differences among brands, attribute information is considered more diagnostic than attitude information (meaning the information is relevant to distinguishing between choices.)

Accepted Answer

This statement is true. Attitude information tends to be more accessible, but when there are few apparent differences among choices, attribute information becomes more important for distinguishing between options.

Question 19

Thinking about the attributes you don't want often leads to different choices than does thinking about the attributes you want.

Accepted Answer

Focusing on the attributes you don't want can help narrow down options and lead to a more specific and intentional decision-making process.

Question 20

Culture does not influence consumer decision making.

Accepted Answer

Culture plays a significant role in shaping the preferences, values, and behavior of consumers. It influences their buying decisions, brand choices, perception of products, and communication styles. Different cultures have their own unique perspectives on quality, price, design, and functionality, which impact consumer decision making. For example, in some cultures, haggling may be a common practice, while in others, it may be considered rude. Therefore, it is essential for businesses to understand and respect cultural differences to effectively market their products and services.

Quiz 10: Product Consideration, Evaluation, and Choice

All of the brands I can recall or remember at any time, regardless of whether I would actually consider purchasing them, is called what?

Which of the following statements about the consideration set is false?

The MODE model is a dual-process model.

consists of all of the brands a person will consider purchasing.

The simulation heuristic is most closely tied to similarity.

Heuristic processing is more likely when buying ketchup and less likely when buying furniture.

For attribute-based choice to work, a prior brand attitude must exist.

According to your readings, puffery is illegal in the United States.

The lexicographic heuristic involves choosing the best brand on the basis of its most important attribute.

The additive-difference heuristic involves comparing alternatives on an attribute selected probabilistically and eliminating or rejecting alternatives that do not meet a minimum cutoff point on this attribute.

An important piece of information often overlooked due to the simulation heuristic is the base rate.

Regression to the mean tells us that unusual events are usually followed by more typical events.

The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics.

The conjunctive heuristic involves choosing the best brand on the basis of all of its most important attributes.

The lexicographic heuristic involves setting a minimum acceptable cutoff level for each attribute and selecting the first alternative that meets the minimum standard for all attributes.

Sally believes if she just keeps playing the lottery, eventually she will win.Sally is suffering from the law of large numbers bias.

In compensatory choice strategies, good attributes can make up for bad attributes.

Thinking about the attributes you don't want often leads to different choices than does thinking about the attributes you want.

Culture does not influence consumer decision making.