Ch. 9 - Decision Making

Question 1

When does purchase momentum occur?

Answer 1

when our initial impulse purchases actually increase the likelihood that we will buy even more

Question 2

What does consumer hyperchoice do?

Answer 2

forces us to make repeated decisions that may drain psychological energy while decreasing our abilities to make smart choices

Question 3

What is constructive processing?

Answer 3

a thought process in which a person evaluates the effort they will need to make a particular choice, & then tailors the amount of cognitive effort expanded to make this decision

Question 4

What is a consumers’ mental budget?

Answer 4

preset expectations of how much they intend to spend

Question 5

What is counteractive construal?

Answer 5

Exaggerating the negative aspects of behaviors that will impede the attainment of a goal as a strategy to avoid them and reach the goal

Question 6

What are the 5 stages of consumer decision making?

Answer 6

1. Problem recognition
2. Information search
3. Evaluation of alternatives
4. Product choice
5. Outcomes

Question 7

What is neuromarketing?

Answer 7

the use of brain-scanning instruments to identify changes int he brain when subjects are exposed to marketing stimuli

Question 8

What are the two types of compensatory rules?

Answer 8

• simple additive rule: leads to the option that has the largest number of positive attributes
• weighted additive rule: allows the consumer to take into account the relative importance by weighing each attribute

Question 9

What are the three types of noncompensatory rules?

Answer 9

• lexicographic rule: pick the brand that wins in the most important attribute
• elimination-by-aspects rule: cutoffs for the most important attributes
• conjunctive rule: multiple cutoffs that each eligible brand must fit

Question 10

What’s the difference between a maximizing solutiong and a satisficing solution?

Answer 10

maximizing: best result posible
satisficing: a result that is good enough

Question 11

What are heuristics?

Answer 11

mental rules of thumb that lead to a speedy decision

Question 12

What are market beliefs?

Answer 12

common assumptions abt relationships between product quality and other factors such as price

Question 13

What is covariation?

Answer 13

assumed associations among events that may or may not actually influence one another

Question 14

What are context effects?

Answer 14

subtle cues in the environment that influence a person’s decisions