Question 1

Michael is looking at computers and looks at Dell and Toshiba at the same time comparing them by attribute.Michael is using the additive difference model.

Accepted Answer

The additive difference model involves evaluating each attribute of the products separately and then adding up the differences between them. This is what Michael is doing by comparing Dell and Toshiba computers.

Question 2

When ownership increases the value of an item,it is termed the endowment effect.

Accepted Answer

The endowment effect refers to the tendency for people to value an item more highly once they own it, compared to when they do not own it. This can cause them to overestimate the item's worth and be reluctant to part with it, even if someone offers them more money than they originally paid for it.

Question 3

Decision-making is judging how likely it is that something will occur.

Accepted Answer

Decision-making is the process of choosing among different options or courses of action. It involves weighing the pros and cons of each option and assessing the potential outcomes or consequences of each choice. Judging likelihood is just one aspect of this process, but it is not the sole definition of decision-making.

Question 4

Tony is in a great mood and is at Target.Research indicates that he will be more willing to process information and take more time in making a decision than if he was in a bad mood.

Accepted Answer

Research has shown that individuals in a positive mood tend to be more open-minded, thoughtful, and less likely to rely on heuristics in their decision-making process. Therefore, Tony is more likely to process information and take his time while making a decision at Target while being in a good mood.

Question 5

Kimberly does not eat meat,thus Steak would be in her inert set.

Accepted Answer

The answer of Kimberly does not eat meat,thus Steak would...

Question 6

Consumers may delay a decision that they perceive as too risky.

Accepted Answer

Consumers often delay decisions that they perceive as too risky. These decisions involve significant financial or personal consequences, and consumers want to make sure they are making the right choice before committing to a decision. Delaying the decision allows the consumer to gather more information and evaluate the risks and benefits before making a final decision.

Question 7

In their advertising,Lexus stressed several key features,including the quality of construction,the smoothness of ride,and the high performance of the navigation.These features are important in how consumers think about the quality of and how much they like the car.In other words,these consumers are
A) making consumer appraisals.
B) making judgments.
C) retrieving information from short-term memory.
D) retrieving information from long-term memory.
E) making a decision.

Accepted Answer

The consumers are making judgments about the car based on the key features advertised by Lexus. They are evaluating the quality of construction, smoothness of ride, and high performance of the navigation to form an overall opinion about the car. Therefore, the correct option is making judgments.

Question 8

A trivial attribute may be used by a consumer to complete and justify a decision.

Accepted Answer

Trivial attributes are minor, less significant characteristics of a product or service that may not have a significant impact on the consumer's satisfaction or decision. However, they may still be considered by the consumer as a way to justify their decision or make a final choice between alternatives. Therefore, trivial attributes can have a role in the decision-making process, even if they are not essential or relevant to the consumer's needs or preferences.

Question 9

Making a selection between options or courses of action is
A) consumer information-gathering.
B) making choices.
C) retrieving information from short-term memory.
D) retrieving information from long-term memory.
E) decision making.

Accepted Answer

Making a selection between options or courses of action is a process of decision making.

Question 10

Consumers using a lexicographic model will establish an overall evaluation of a brand.

Accepted Answer

In a lexicographic model, consumers prioritize attributes and choose the best product based on the most important attribute, rather than establishing an overall evaluation of a brand.

Question 11

Bud is looking to buy a car,but is not willing to look at any car that has the attribute of getting less than 37 miles per gallon.Bud has established in his mind a cutoff level.

Accepted Answer

Bud has established a cutoff level of 37 miles per gallon, meaning he will not consider any car that gets less than that amount.

Question 12

Consumers are willing to take more risk when a choice is framed as a gain rather than avoiding a loss.

Accepted Answer

Consumers are generally more risk-averse when a choice is framed as a gain and more willing to take risks to avoid a loss, according to prospect theory.

Question 13

Imagery may play a major role in judgment.

Accepted Answer

Imagery refers to the use of vivid or descriptive language that appeals to the senses and creates mental images in the reader or listener's mind. When making judgments, individuals often rely on their imagination and visualization abilities to process information and form opinions. As such, imagery can have a significant impact on how people perceive and evaluate a particular person, object, or situation.

Question 14

Wayne does not buy foreign made products; this is an example of a compensatory model.

Accepted Answer

This statement describes a non-compensatory model, where one attribute (in this case, country of origin) is given priority over others and can eliminate options that do not meet that criterion.

Question 15

Emotions play a role in deciding what we consume and for how long.

Accepted Answer

Emotions can greatly influence our decision-making when it comes to consumption habits, including what we choose to consume and for how long. For example, we may indulge in comfort foods when we feel stressed or turn to shopping as a way to cope with emotions such as sadness or boredom. On the other hand, positive emotions such as happiness may lead us to splurge on special treats or experiences.

Question 16

Consumers using a disjunctive model set up minimum cutoff levels for each important attribute.

Accepted Answer

In a disjunctive model, consumers set up minimum cutoff levels for each important attribute, meaning they will accept any option that meets the minimum standard for each attribute.

Question 17

When consumers make a judgment,they start without any preconceived ideas about the object.

Accepted Answer

Consumers often have preconceived ideas or biases about an object based on previous experiences, knowledge, or external influences such as advertising or word-of-mouth communication. These preconceptions can influence their judgment and decision-making process.

Question 18

Gizmos and gadgets are the latest marketing battleground for automotive manufacturers who must understand the types of judgments that car buyers make.

Accepted Answer

The statement is true because in recent years, automotive manufacturers have been competing to add more advanced technology and features to their vehicles to appeal to tech-savvy and connected consumers.

Question 19

Ann is looking for a computer and looks at Toshiba and likes the product very much.She then moves on to look at Dell computers.Ann is using attribute processing.

Accepted Answer

Attribute processing involves evaluating multiple attributes of a single product, while Ann is comparing different brands, which is an example of alternative-based processing.

Question 20

Judgment and decision-making are the cognitive process.

Accepted Answer

The answer of Judgment and decision-making are the cognitive process....

Quiz 8: Judgment and Decision Making Based on High Effort