Podcast
Questions and Answers
What type of bias involves consumers having a preference for known brands due to familiarity?
What type of bias involves consumers having a preference for known brands due to familiarity?
- Self-positivity bias
- Confirmation bias
- Prior brand evaluations (correct)
- Negativity bias
Which set of options consists of those that consumers are indifferent towards when making a decision?
Which set of options consists of those that consumers are indifferent towards when making a decision?
- Inept set
- Inert set (correct)
- Consideration set
- Attraction effect
Which factor influences the relevance and importance of decision criteria based on whether consumers think in abstract or concrete terms?
Which factor influences the relevance and importance of decision criteria based on whether consumers think in abstract or concrete terms?
- Consumer goals
- Framing of the decision
- Timing of the decision (correct)
- Loss aversion
In which type of decision-making model do consumers base their decisions on feelings or emotions?
In which type of decision-making model do consumers base their decisions on feelings or emotions?
What determines whether bad attributes can be compensated for by good ones in a decision-making process?
What determines whether bad attributes can be compensated for by good ones in a decision-making process?
Which type of bias involves framing a decision as either a loss or gain influencing consumer choice?
Which type of bias involves framing a decision as either a loss or gain influencing consumer choice?
What is judgment in decision-making?
What is judgment in decision-making?
Which process involves starting with an initial evaluation and adjusting it with additional information?
Which process involves starting with an initial evaluation and adjusting it with additional information?
What does 'mental accounting' involve in consumer behavior?
What does 'mental accounting' involve in consumer behavior?
What is the role of imagery in judgments of likelihood and goodness/badness?
What is the role of imagery in judgments of likelihood and goodness/badness?
In high effort judgment processes, what does anchoring and adjustment involve?
In high effort judgment processes, what does anchoring and adjustment involve?
What does estimation of likelihood involve?
What does estimation of likelihood involve?
