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Consumer Behaviour > Lecture 5: Individual Decision Making and Post Decision Processes > Flashcards

Lecture 5: Individual Decision Making and Post Decision Processes Flashcards

1
Q

Internal searching is the process of recalling past information stored in memory.

A

True

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2
Q

External searching is the process of seeking information in the outside environment.

A

True

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3
Q

Information search is characterized by three elements; sources of information, search strategies, and amount of information (search activity).

A

True

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4
Q

An evoked set consists of brands/suppliers remembered at the time of decision making.

A

True

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5
Q

A consideration set consists of those from the evoked set after those which are unfit are eliminated.

A

True

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6
Q

Within the context of external sources of information, marketer sources consist of personal (friends, past experiences) and independent sources (consumer reports, media).

A

False

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7
Q

Within the context of external sources of information, marketer sources consist of advertising, stores, shops and websites.

A

True

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8
Q

Within the context of external sources of information, non-marketer sources consist of advertising, stores, shops and websites.

A

False

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9
Q

Within the context of external sources of information, non-marketer sources consist of personal (friends, past experiences) and independent sources (consumer reports, media).

A

True

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10
Q

Systematic search strategies are quick and convenience based and include rules of thumb such as brand name and recommendations.

A

False

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11
Q

Systematic search strategies are organized, effortful, and comprehensive.

A

True

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12
Q

Heuristic search strategies are quick and convenience based and include rules of thumb such as brand name and recommendations.

A

True

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13
Q

Heuristic search strategies are organized, effortful, and comprehensive.

A

False

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14
Q

Compensatory evaluations of alternatives is when a positive evaluation of an attribute does not compensate for a negative evaluation of the same alternative on some other attribute.

A

False

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15
Q

Compensatory evaluation of alternatives is when a consumer evaluated each alternative in terms of each attribute and then selects the one with the highest weighted score.

A

True

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16
Q

Non-compensatory evaluation of alternatives is when a positive evaluation of an attribute does not compensate for a negative evaluation of the same alternative on some other attribute.

A

True

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17
Q

Non-compensatory evaluation of alternatives is when a consumer evaluated each alternative in terms of each attribute and then selects the one with the highest weighted score.

A

False

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18
Q

Alternative processing considers one alternative at a time.

A

True

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19
Q

Attribute processing considers one alternative at a time.

A

False

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20
Q

Attribute processing processes across alternatives, one attribute at a time.

A

True

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21
Q

The additive difference rule suggests products are compared by attribute, two products at a time. Consumers evaluate differences between products on each attribute and combine them into an overall preference.

A

True

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22
Q

The additive difference rule allows trade-offs between attributes.

A

True

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23
Q

The additive difference rule does not allow trade-offs between attributes.

A

False

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24
Q

The conjunctive rule suggests consumers set a minimum standard for each attribute and if a product fails to pass any standard, it is dropped from consideration.

A

True

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25
Q

The disjunctive rule suggests consumers evaluate alternatives on the basis of one or a few attributes, ignoring their standing on other attributes.

A

True

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26
Q

The disjunctive rule suggests a consumer sets a minimum standard for each attribute and if a product fails to pass any standard, it is dropped from consideration.

A

False

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27
Q

The disjunctive rule suggests consumers set a minimum acceptable standard as the cutoff point for these attributes.

A

True

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28
Q

The lexicographic rule is when consumers order attributes in terms of importance and compare alternatives one attribute at a time, starting with the most important.

A

True

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29
Q

The lexicographic rule suggests that if after comparing the most important attributes between products one option dominates, the consumer selects it.

A

True

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30
Q

“I selected the computer that came out best when I balanced the good ratings against the bad ratings” is an example of the conjunctive rule.

A

False

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31
Q

“I selected the computer that did not have bad features.” is an example of the disjunctive rule.

A

False

32
Q

“I picked the computer that excelled in at least one attribute.” is an example of the lexicographic rule.

A

False

33
Q

“I looked at the feature that was most important to me and chose the computer that ranked highest on that attribute.” is an example of the compensatory rule.

A

False

34
Q

“I looked at the feature that was most important to me and chose the computer that ranked highest on that attribute.” is an example of the lexicographic rule.

A

True

35
Q

“I picked the computer that excelled in at least one attribute.” is an example of the disjunctive rule.

A

True

36
Q

“I selected the computer that did not have bad features.” is an example of the conjunctive rule.

A

True

37
Q

“I selected the computer that came out best when I balanced the good ratings against the bas ratings.” is an example of the compensatory rule.

A

True

38
Q

Combinations between compensatory and non-compensatory decision rules are the most common.

A

True

39
Q

Mental accounting is when consumers assign different values to equal monetary accounts due to psychological reasons.

A

True

40
Q

Mental accounting influences how much we spend or save.

A

True

41
Q

Sunk cost fallacy results in consumers being reluctant to waste something they have paid for.

A

True

42
Q

Sunk cost fallacy leads us to invest more in things we have already invested in.

A

True

43
Q

The framing effect leads consumers to react to a particular choice in different ways depending on whether it is presented as a loss or gain.

A

True

44
Q

The endowment effect suggests that ownership of an item increases the value.

A

True

45
Q

Routine response behaviour/habitual decision making suggests decisions are made with little or no conscious effort.

A

True

46
Q

Limited problem-solving suggests buyers use simple decision rules.

A

True

47
Q

The highest number of purchase decisions are limited problem-solving decisions.

A

True

48
Q

The highest number of purchase decisions are routine response behaviour.

A

True

49
Q

Habitual decision making is characterized by complex strategizing that requires strenuous conscious effort.

A

False

50
Q

Habitual decision making is characterized by little or no conscious effort, use of simplifying strategies.

A

True

51
Q

Brand loyalty occurs when consumers make a conscious evaluation that a brand or service satisfies their needs to a greater extent than others do and decide to buy the brand repeatedly for that reason.

A

True

52
Q

Brand loyalty consists of two components: attitude and behaviour.

A

True

53
Q

Keeping customers leads to six times higher costs than winning new customers.

A

False

54
Q

Winning new customers leads to six times higher costs than keeping customers.

A

True

55
Q

Brand loyalty increases the amount consumed by customers and the cross-selling potential.

A

True

56
Q

Brand equity is the basis for brand loyalty.

A

False

57
Q

Brand loyalty is the basis for brand equity.

A

True

58
Q

Variety seeking results in a desire to choose new alternatives over more familiar ones.

A

True

59
Q

The idea of variety seeking is that unpredictability can be rewarding (optimal stimulation level, sensation seeking).

A

True

60
Q

Variety seeking is stronger when involvement is high.

A

False

61
Q

Variety seeking is stronger when perceived risk is high.

A

False

62
Q

Variety seeking is stronger when perceived differences between products are high.

A

False

63
Q

Variety seeking is stronger when perceived differences between products are low.

A

True

64
Q

Variety seeking is stronger when perceived risk is low.

A

True

65
Q

Variety seeking is stronger when involvement is low.

A

True

66
Q

Buying on impulse is instigated by an intense or overwhelming feeling of having to buy the product immediately.

A

True

67
Q

Buying on impulse is triggered by consumer’s exposure to an external stimulus such as in-store displays, internet ads, TV ads with a phone number.

A

True

68
Q

Consumer factors that lead shoppers to become buyers include time pressure and having a shopping companion.

A

False

69
Q

Consumer factors that lead shoppers to become buyers include familiarity with a store, and customer mood.

A

True

70
Q

Situational factors that lead shoppers to become buyers include time pressure, and having a shopping companion.

A

True

71
Q

Store factors that lead shoppers to become buyers include special store promotions, atmospherics.

A

True

72
Q

When a consumers’ evaluation of the outcome of a purchase decision is positive, i.e., expectations have been met, they feel satisfaction.

A

True

73
Q

Multi-attribute approaches are defined as an expectation towards experience of performance of product attributes, and the aggregation of these evaluations.

A

True

74
Q

Critical incidents in satisfaction measurement are defined as analysis of incidents that matter in terms of consumer satisfaction/dissatisfaction.

A

True

75
Q

Cognitive dissonance is a feeling of post purchase regret.

A

True

Consumer Behaviour (7 decks)

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