Exam question examples (altklausur)

Question 1

1. Explain when and why experiences make consumers happier than products do?

Answer 1

• ikea effect

Question 2

2. Explain when and why product endorsers help shaping consumers evaluations of brands?

Answer 2

• help shaping consumers evaluations of brands because they let the customer feel a positive association with the brand which they then automatically transfer to the brand itself.
• especially useful with low-involvement products because they are built from the customers emotions and are easily changable

Question 3

3. Please explain when and why handmade products sell more?

Answer 3

• Handmade products are an expression of love and of specialty. Thus, people
  are more likely to buy a handmade product to give to a close person (friend, family, etc.).
• handmade products are better evaluated among high price products and
  not among low price products.

Question 4

4. Based on the core competence theory, what is the recommendation for how many attributes/qualities companies should highlight and why?

Answer 4

only on their number one core competence:
- halo effect (apple about creativity)
- part list cuing
“Companies should try to build positive associations with their brands by highlighting positive attributes of their product. This reinforcement will automatically shut-down negative associations. Companies should never remind consumers that their brand is not related to negative attributes. This is because reinforcing positive associations automatically kills negative ones.”

Question 5

5. In what situations consumers are more likely to pay attention to online reviews?

Answer 5

• reviewer is similar
• ambiguous/ risky situation
• reviews are mainly negative
• services rather than products

–> high involvement pruchases