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Psychology 333 Test 3 > Chapter 7 > Flashcards

Chapter 7 Flashcards

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1
Q

In the first step of decision making, is a problem required?

A

No problem is necessary.

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2
Q

Is an extended search high risk or low risk?

A

High risk

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3
Q

What are the 4 types of risks?

A

Monetary, social, psychological, and utilitarian.

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4
Q

Opportunity recognition

A

Ideal state goes up, actual state goes down

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5
Q

What is Primary Demand?

A

creating a need or desire for a product. (general)

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6
Q

What is Secondary Demand?

A

Creating a desire for a brand. (specific)

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7
Q

Fast cognitive processes

A

Heuristics (shortcuts)

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8
Q

Slow cognitive processes

A

Effort & focus

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9
Q

Recency effect

A

Delay between primary info & info collected at a later date. The info collected at a later date carries more weight.

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10
Q

Does earlier information shape our interpretation of later information?

A

Yes.

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11
Q

Personal biases

A

Compare information to our personal standards.

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12
Q

Rationale

A

We weigh all the objective info then we select the best choice.

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13
Q

When would all information be evaluated simultaneously?

A

In an ideal world.

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14
Q

Discomfort makes us….

A

More rational and Critical

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15
Q

Type 2 thinking is…

A

Methodical and calculating

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16
Q

Automatic thinking is…

A

Fast and accurate. Characteristic of experts in their fields.

17
Q

Shopping momentum

A

When we decide to buy one item but leave with more than we intended.

18
Q

Behavioural influence

A

Situational cues that increase our probability of buying one item over another.

19
Q

Foot in the door

A

Agree to a small favour/purchase and then make a big one.

20
Q

Experiential influence

A

Irrational emotional elements that influence decision making.

21
Q

What percent of department store purchases are impulse purchases?

A

40%

22
Q

What % of purchases in grocery stores are impulses?

A

67%

23
Q

Habitual Decision making

A

Automatic, low involvement, habitual. EX. buying toothpaste.

24
Q

Extended problem solving

A

Reserved for important purchases, such as those associated with our self concept, self identity, or social standing.

25
Q

External Search

A

Collection of data from multiple sources.

26
Q

Internal Search

A

Review of memory & experiences

27
Q

Evoked set

A

Brands that come to mind as viable options.

28
Q

Inept set

A

Product failure

29
Q

Inert set

A

Consumer is unaware of the product.

30
Q

Consensus heuristic

A

If family & friends think its a good idea, then it is.

31
Q

Lexicographic rule

A

Organizes features that are valued with the highest valued listed 1st

Psychology 333 Test 3 (3 decks)

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