Final QUIZ: Section 2.1 - Frameworks for Understanding How Consumers Make Decisions

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Questions and Answers

What is a characteristic of cognitive decision-making?

Focused solely on aesthetics

Based on peer influence

Deliberative and information-based (correct)

Impulsive and emotional

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?

Selecting a policy for health insurance

Picking a grocery store based on proximity

Buying a house purely based on location

Purchasing a smartphone for functionality and style (correct)

In which scenario does cognitive decision-making dominate?

Choosing a financial investment Signup and view all the answers

Which factor would primarily influence an emotional decision?

Aesthetics and personal attachment Signup and view all the answers

Which type of product is more likely to involve emotional decision-making?

Designer jewelry Signup and view all the answers

How can marketers appeal to emotional decision-makers?

Use imagery that evokes strong feelings Signup and view all the answers

Which type of decision is faster?

Emotional decisions Signup and view all the answers

An emotional decision is likely to be:

Quick and subjective Signup and view all the answers

What type of decision involves both emotional and cognitive elements?

Buying a wedding dress Signup and view all the answers

What defines high-involvement decision-making?

Involves significant risk and deliberation Signup and view all the answers

Low-involvement purchases typically involve:

Habitual and minimal effort Signup and view all the answers

Which of the following is an example of a high-involvement purchase?

Buying a new car Signup and view all the answers

Which context suits low-involvement decision-making?

Routine grocery shopping Signup and view all the answers

What strategy might marketers use for low-involvement products?

Use repetitive advertising and accessibility Signup and view all the answers

High-involvement decisions are likely when:

Risk is high and alternatives are significant Signup and view all the answers

What is a key characteristic of low-involvement purchases?

Low risk and habitual behavior Signup and view all the answers

Which scenario represents high-involvement decision-making?

Researching vacation destinations for months Signup and view all the answers

Marketers targeting high-involvement buyers should:

Provide detailed information and testimonials Signup and view all the answers

Low-involvement decisions often rely on:

Brand loyalty and habit Signup and view all the answers

What does "satisficing" mean in decision-making?

Selecting an option that meets minimum requirements Signup and view all the answers

When do consumers tend to satisfice?

When time and effort are limited Signup and view all the answers

Optimizing occurs when:

Consumers focus on finding the absolute best choice Signup and view all the answers

Which scenario demonstrates satisficing?

Choosing the first hotel that has good reviews and is affordable Signup and view all the answers

A satisficer is likely to:

Choose the first acceptable option Signup and view all the answers

Which situation typically requires optimizing?

Purchasing a house Signup and view all the answers

Satisficing often results in:

Reduced decision-making time Signup and view all the answers

What is a key advantage of satisficing?

Reduces cognitive effort Signup and view all the answers

Optimizing tends to occur when:

Alternatives vary significantly in quality Signup and view all the answers

Which of the following encourages satisficing?

Limited time to decide Signup and view all the answers

What is a characteristic of compensatory decision-making?

Trade-offs are made between attributes Signup and view all the answers

Noncompensatory decision-making involves:

Eliminating alternatives that fail to meet a critical threshold Signup and view all the answers

Which of the following is an example of compensatory decision-making?

Choosing a car that is less affordable but highly fuel-efficient Signup and view all the answers

When does noncompensatory decision-making dominate?

When consumers have strict criteria Signup and view all the answers

Compensatory decision-making is suitable when:

Multiple attributes affect the decision Signup and view all the answers

Which strategy is consistent with noncompensatory decision-making?

Rejecting options that do not meet minimum standards Signup and view all the answers

What is the primary benefit of compensatory decision-making?

Ensures all factors are considered Signup and view all the answers

Noncompensatory rules often apply to:

High-risk decisions with specific criteria Signup and view all the answers

A consumer rejecting all smartphones without 5G capabilities demonstrates:

Noncompensatory decision-making Signup and view all the answers

Compensatory models are less effective when:

Consumers have strict requirements Signup and view all the answers

Study Notes

Cognitive vs. Emotional Decision Making

Cognitive decision-making is characterized by a deliberative and information-based approach.
Emotional decision-making is based on feelings and subjective evaluations.
An example of emotional decision-making is purchasing a wool-lined jacket in Hawaii for sentimental reasons.
An example of a decision combining cognitive and emotional components is purchasing a smartphone for both functionality and style.
Cognitive decision-making dominates in scenarios like choosing a financial investment.
Emotional decisions are primarily influenced by aesthetics and personal attachment.

High-Involvement vs. Low-Involvement Decision Making

High-involvement decisions are associated with significant risk and deliberation. Examples include purchasing a new car or researching vacation destinations.
Low-involvement decisions are routine-based, requiring minimal effort. Routine grocery shopping is an example.
Low-involvement purchases rely heavily on brand loyalty and habit.

Optimizing vs. Satisficing Decision Making

Satisficing involves selecting an option that meets minimal requirements. Choosing the first acceptable hotel option is an example.
Optimizing involves finding the absolute best option, often requiring significant time and effort. An example is researching laptops for months.

Compensatory vs. Noncompensatory Decision Making

Compensatory decision-making involves trade-offs between different attributes. This is useful when multiple attributes matter for a decision.
Noncompensatory decision-making involves eliminating options that don't meet specific requirements like rejecting all smartphones lacking 5G.
Noncompensatory strategies are often effective when dealing with high-risk decisions with specific criteria.
Compensatory models are less effective when faced with strict requirements from consumers.

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Description

This quiz explores the differences between cognitive and emotional decision-making processes. It covers high-involvement versus low-involvement decisions, providing examples for each type. Test your understanding of how emotions and cognition influence decision-making!