chapter 9 flashcards

Question 1

what are the 5 types of Perceived Risk?

Answer 1

• Monetary
• Functional
• Physical
• Social
• Psychological

Question 2

what type of buyers and purchases are subject to Monetary Risk?

Answer 2

Buyers: risk capital consists of money and property. those with relatively little income and wealth are most vulnerable

Purchases: high ticket items that require substantial expenditures are most subject to this form of risk

Question 3

what type of buyers and purchases are most subject to Functional Risk?

Answer 3

Buyers: risk capital consists of altnertaive means of performing the function or meeting the need. practical consumers are most sensitive

Purchases: products or services whose purchase and use require the buyer’s exclusive commitment and preclude redundancy are most sensitive

Question 4

what type of buyers and purchases are most subject to Physical Risk?

Answer 4

Buyers: risk capital consists of physical vigour, health, and vitality. those who are elderly, frail, or in ill health are most vulnerable

Purchases: mechanical or electrical goods, drugs or medical treatment, and food and beverages are most sensitive

Question 5

what type of buyers and purchases are most subject to Social Risk?

Answer 5

Buyers: risk capital consists of self esteem and self confidence. those who are insecure and uncertain are most sensitive

Purchasers: socially visible or symbolic goods, clothes, jewelry, cars, homes, or sports equipment

Question 6

what type of buyers and purchases are most subject to Psychological Risk?

Answer 6

Buyers: risk capital consists of affiliations and status. this e lacking self respect or attractiveness to peers are most sensitive

Purchases: expensive personal luxuries that may endanger guilt, durables, and services whose use demands self discipline or sacrifice are most sensitive

Question 7

what are the two ty[pes of information sources?

Answer 7

internal and external

Question 8

what is Internal Search?

Answer 8

internal search can be by scanning our own memory banks to assemble information about different alternatives

Question 9

what is external search?

Answer 9

external search would be finding information obtained from advertisements, friends, or people watching

Question 10

what is a good example of Examplar Products?

Answer 10

if a brand or product is a really good example of a category, it is more familiar to consumers and, as a result, is more easily recognized and recalled.
Brands that are strongly associated with a category get to “call the shots” by defining the criteria that should be sued to evaluate all category members