Podcast
Questions and Answers
What is a characteristic of cognitive decision-making?
What is a characteristic of cognitive decision-making?
- Deliberative and information-based (correct)
- Based on peer influence
- Impulsive and emotional
- Focused solely on aesthetics
Which example represents emotional decision-making?
Which example represents emotional decision-making?
- Choosing an insurance policy
- Comparing prices of similar items
- Buying a wool-lined jacket in Hawaii for sentimental reasons (correct)
- Selecting a phone plan with the best value
What is an example of a decision that combines cognitive and emotional components?
What is an example of a decision that combines cognitive and emotional components?
- Picking a grocery store based on proximity
- Purchasing a smartphone for functionality and style (correct)
- Selecting a policy for health insurance
- Buying a house purely based on location
In which scenario does cognitive decision-making dominate?
In which scenario does cognitive decision-making dominate?
Which factor would primarily influence an emotional decision?
Which factor would primarily influence an emotional decision?
Which type of product is more likely to involve emotional decision-making?
Which type of product is more likely to involve emotional decision-making?
How can marketers appeal to emotional decision-makers?
How can marketers appeal to emotional decision-makers?
Which type of decision is faster?
Which type of decision is faster?
An emotional decision is likely to be:
An emotional decision is likely to be:
What type of decision involves both emotional and cognitive elements?
What type of decision involves both emotional and cognitive elements?
What defines high-involvement decision-making?
What defines high-involvement decision-making?
Low-involvement purchases typically involve:
Low-involvement purchases typically involve:
Which of the following is an example of a high-involvement purchase?
Which of the following is an example of a high-involvement purchase?
Which context suits low-involvement decision-making?
Which context suits low-involvement decision-making?
What strategy might marketers use for low-involvement products?
What strategy might marketers use for low-involvement products?
High-involvement decisions are likely when:
High-involvement decisions are likely when:
What is a key characteristic of low-involvement purchases?
What is a key characteristic of low-involvement purchases?
Which scenario represents high-involvement decision-making?
Which scenario represents high-involvement decision-making?
Marketers targeting high-involvement buyers should:
Marketers targeting high-involvement buyers should:
Low-involvement decisions often rely on:
Low-involvement decisions often rely on:
What does "satisficing" mean in decision-making?
What does "satisficing" mean in decision-making?
When do consumers tend to satisfice?
When do consumers tend to satisfice?
Optimizing occurs when:
Optimizing occurs when:
Which scenario demonstrates satisficing?
Which scenario demonstrates satisficing?
A satisficer is likely to:
A satisficer is likely to:
Which situation typically requires optimizing?
Which situation typically requires optimizing?
Satisficing often results in:
Satisficing often results in:
What is a key advantage of satisficing?
What is a key advantage of satisficing?
Optimizing tends to occur when:
Optimizing tends to occur when:
Which of the following encourages satisficing?
Which of the following encourages satisficing?
What is a characteristic of compensatory decision-making?
What is a characteristic of compensatory decision-making?
Noncompensatory decision-making involves:
Noncompensatory decision-making involves:
Which of the following is an example of compensatory decision-making?
Which of the following is an example of compensatory decision-making?
When does noncompensatory decision-making dominate?
When does noncompensatory decision-making dominate?
Compensatory decision-making is suitable when:
Compensatory decision-making is suitable when:
Which strategy is consistent with noncompensatory decision-making?
Which strategy is consistent with noncompensatory decision-making?
What is the primary benefit of compensatory decision-making?
What is the primary benefit of compensatory decision-making?
Noncompensatory rules often apply to:
Noncompensatory rules often apply to:
A consumer rejecting all smartphones without 5G capabilities demonstrates:
A consumer rejecting all smartphones without 5G capabilities demonstrates:
Compensatory models are less effective when:
Compensatory models are less effective when:
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Study Notes
Cognitive vs. Emotional Decision Making
- Cognitive decision-making is deliberate and information-based.
- Emotional decision-making is impulsive and based on feelings.
- Examples of emotional decision-making include choosing a wool-lined jacket in Hawaii for sentimental reasons, and buying a smartphone for functionality and style.
- Some decisions combine cognitive and emotional components, such as buying a house or purchasing a smartphone.
- Cognitive decision-making often dominates in financial investments.
- Aesthetics and personal attachment are primary factors in emotional decisions.
- Designer jewelry is more likely to involve emotional decision-making.
- Marketers can appeal to emotional decision-makers by using imagery that evokes strong feelings.
- Emotional decisions are faster than cognitive decisions.
High-Involvement vs. Low-Involvement Decision Making
- High-involvement decision-making involves significant risk and deliberation, often for expensive and important items (e.g. buying a car or a house).
- Low-involvement decision-making involves habitual purchases with minimal effort (e.g. routine grocery shopping).
- Low-involvement purchases typically rely on habit and brand loyalty.
- High-involvement decisions occur when the risk is high and many alternatives exist.
- Choosing a parking spot is considered a low-involvement decision.
- Researching vacation destinations over months is classified as a high-involvement decision.
- Using repetitive advertising and appealing to accessibility are suitable strategies for low-involvement products.
Optimizing vs. Satisficing Decision Making
- Satisficing involves choosing an option that meets minimum requirements.
- Satisficing occurs when time and effort are limited and resources are constrained.
- Optimizing involves finding the absolute best choice.
- Optimizing occurs when consumers have plenty of resources and time to make the best possible decision.
- Decision-makers might choose the first hotel that meets their minimum requirements as an example of 'satisficing'.
Compensatory vs. Noncompensatory Decision Making
- Compensatory decision-making involves trade-offs between attributes.
- Non-compensatory decision-making involves eliminating alternatives that do not meet minimum standards.
- Using a car that is less costly but fuel-efficient is an example of compensatory decision-making.
- Rejecting laptops without specific features is an example of non-compensatory decision-making.
- Compensatory decision-making is more appropriate when trade-offs are acceptable.
- Non-compensatory decision-making is more fitting when strict criteria are present.
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