Podcast
Questions and Answers
What is the first stage in the consumer decision making process?
What is the first stage in the consumer decision making process?
- Problem Recognition/Need (correct)
- Product Choice/Decision
- Information Search
- Post Purchase Evaluation
What is Constructive Processing in consumer decision making?
What is Constructive Processing in consumer decision making?
- Evaluating the effort required for a choice and choosing the best strategy suited to the level of effort (correct)
- Seeking advice from friends and family before making a decision
- Making impulsive decisions without evaluating the consequences
- Relying on previous experiences to make a decision
What type of decision making process is characterized by carefully weighing alternatives and collecting as much information as possible?
What type of decision making process is characterized by carefully weighing alternatives and collecting as much information as possible?
- Limited Decision Making
- Habitual Decision Making
- Extended Problem Solving (correct)
- Constructive Processing
In which type of decision making does the consumer make a decision without much effort, often due to existing knowledge?
In which type of decision making does the consumer make a decision without much effort, often due to existing knowledge?
What does the experiential perspective in marketing emphasize?
What does the experiential perspective in marketing emphasize?
What does primary demand introduce?
What does primary demand introduce?
What can influence consumer decision-making according to the text?
What can influence consumer decision-making according to the text?
What is involved in the information search process for consumers?
What is involved in the information search process for consumers?
What type of information do consumers value more than advertisements?
What type of information do consumers value more than advertisements?
What influences the amount of information search for consumers?
What influences the amount of information search for consumers?
Why is more information not always better for decision-making?
Why is more information not always better for decision-making?
What influence does prior expertise have on the amount of information search?
What influence does prior expertise have on the amount of information search?
What do marketing strategies aim to capture at each stage of the consumer journey?
What do marketing strategies aim to capture at each stage of the consumer journey?
What do brands compete for in the marketplace?
What do brands compete for in the marketplace?
What influences consumer decisions according to the text?
What influences consumer decisions according to the text?
What characterizes habitual decision making?
What characterizes habitual decision making?
What is the evoked set in consumer decision making?
What is the evoked set in consumer decision making?
What are evaluative criteria in consumer decision making based on?
What are evaluative criteria in consumer decision making based on?
What is the focus of determinant attributes in consumer decision making?
What is the focus of determinant attributes in consumer decision making?
What does the behavioral influence perspective suggest about consumer decisions?
What does the behavioral influence perspective suggest about consumer decisions?
What percentage of brand choice is made in the store?
What percentage of brand choice is made in the store?
How are functional products evaluated in consumer decision making?
How are functional products evaluated in consumer decision making?
What is limited decision making characterized by?
What is limited decision making characterized by?
What characterizes extended decision making?
What characterizes extended decision making?
What are marketers aiming to establish in the evoked set?
What are marketers aiming to establish in the evoked set?
What influences low involvement decisions according to the behavioral influence perspective?
What influences low involvement decisions according to the behavioral influence perspective?
How are high involvement decision making and limited decision making different?
How are high involvement decision making and limited decision making different?
What is showrooming an example of?
What is showrooming an example of?
What are heuristics in decision making?
What are heuristics in decision making?
What is framing in decision making?
What is framing in decision making?
What is the sunk cost fallacy?
What is the sunk cost fallacy?
What are cybermediaries in consumer behavior?
What are cybermediaries in consumer behavior?
What is variety seeking behavior in consumer behavior?
What is variety seeking behavior in consumer behavior?
What are compensatory decision rules in consumer behavior?
What are compensatory decision rules in consumer behavior?
What are noncompensatory decision rules in consumer behavior?
What are noncompensatory decision rules in consumer behavior?
What are situational effects on buying in consumer behavior?
What are situational effects on buying in consumer behavior?
What is the primary reason for showrooming behavior?
What is the primary reason for showrooming behavior?
What is the main concept behind the economics of information approach in consumer behavior?
What is the main concept behind the economics of information approach in consumer behavior?
What is the role of biases in decision making according to the text?
What is the role of biases in decision making according to the text?
Study Notes
Consumer Behavior and Decision Making
- Economics of Information Approach: Consumers gather necessary information for informed decisions
- Cybermediary: Intermediaries filter and organize information from numerous online sources
- Showrooming: Consumers visit stores in person, then buy online, an example of external search
- Variety Seeking: Consumers seek variety due to boredom or desire for change
- Heuristics: Mental rules for quick decisions, such as market beliefs and biases
- Biases in Decision Making: Consumers are often not as logical as they think
- Framing: Choices are influenced by how they are presented, leading to risk aversion or seeking
- Sunk Cost Fallacy: Reluctance to waste money due to perceived loss, emphasizing loss over gain
- Compensatory Decision Rules: Averaging product attributes for rational decisions
- Noncompensatory Decision Rules: Simple rules for decision-making based on heuristics
- Situational Effects on Buying: Factors like physical, social, and temporal elements affect purchasing decisions
- Why Do We Shop: Reasons include social experiences, interpersonal attraction, instant status, and the thrill of the chase
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Description
Test your knowledge of consumer behavior and decision making with this quiz. Explore topics such as the economics of information approach, showrooming, heuristics, biases in decision making, decision rules, situational effects on buying, and the reasons behind shopping behaviors.
