Harvard Note: Consumer Decision Making Quiz PDF

### **[QUIZ: Section 2.1 - Frameworks for Understanding How Consumers Make Decisions]** #### **Cognitive vs. Emotional Decision Making** 1. **What is a characteristic of cognitive decision-making?\ **a) Impulsive and emotional\ b) Deliberative and information-based *(Correct)\ *c) Bas...

### **[QUIZ: Section 2.1 - Frameworks for Understanding How Consumers Make Decisions]** #### **Cognitive vs. Emotional Decision Making** 1. **What is a characteristic of cognitive decision-making?\ **a) Impulsive and emotional\ b) Deliberative and information-based *(Correct)\ *c) Based on peer influence\ d) Focused solely on aesthetics 2. **Which example represents emotional decision-making?\ **a) Choosing an insurance policy\ b) Buying a wool-lined jacket in Hawaii for sentimental reasons *(Correct)\ *c) Selecting a phone plan with the best value\ d) Comparing prices of similar items 3. **What is an example of a decision that combines cognitive and emotional components?\ **a) Buying a house purely based on location\ b) Purchasing a smartphone for functionality and style *(Correct)\ *c) Selecting a policy for health insurance\ d) Picking a grocery store based on proximity 4. **In which scenario does cognitive decision-making dominate?\ **a) Buying a birthday gift\ b) Choosing a financial investment *(Correct)\ *c) Deciding on a vacation destination\ d) Purchasing luxury jewelry 5. **Which factor would primarily influence an emotional decision?\ **a) Product durability\ b) Aesthetics and personal attachment *(Correct)\ *c) Extended warranty options\ d) Financial considerations 6. **Which type of product is more likely to involve emotional decision-making?\ **a) Laptop for work\ b) Designer jewelry *(Correct)\ *c) Health insurance\ d) Cleaning supplies 7. **How can marketers appeal to emotional decision-makers?\ **a) Provide detailed product comparisons\ b) Use imagery that evokes strong feelings *(Correct)\ *c) Highlight the practical benefits\ d) Reduce product prices 8. **Which type of decision is faster?\ **a) Emotional decisions *(Correct)\ *b) Cognitive decisions\ c) Complex financial decisions\ d) All decisions are equally fast 9. **An emotional decision is likely to be:\ **a) Based on extensive research\ b) Quick and subjective *(Correct)\ *c) Driven by financial constraints\ d) Logical and deliberate 10. **What type of decision involves both emotional and cognitive elements?\ **a) Deciding which restaurant to visit\ b) Buying a wedding dress *(Correct)\ *c) Selecting a life insurance policy\ d) Choosing a mobile app subscription #### **High-Involvement vs. Low-Involvement Decision Making** 11. **What defines high-involvement decision-making?\ **a) Based on routine purchases\ b) Involves significant risk and deliberation *(Correct)\ *c) Quick and impulsive\ d) Primarily influenced by trends 12. **Low-involvement purchases typically involve:\ **a) Habitual and minimal effort *(Correct)\ *b) Detailed comparisons\ c) Extensive financial risk\ d) Emotional engagement 13. **Which of the following is an example of a high-involvement purchase?\ **a) Selecting a toothpaste brand\ b) Buying a new car *(Correct)\ *c) Choosing a snack\ d) Picking a t-shirt 14. **Which context suits low-involvement decision-making?\ **a) Evaluating long-term investments\ b) Routine grocery shopping *(Correct)\ *c) Buying a new property\ d) Selecting health insurance 15. **What strategy might marketers use for low-involvement products?\ **a) Focus on detailed comparisons\ b) Use repetitive advertising and accessibility *(Correct)\ *c) Provide in-depth tutorials\ d) Highlight unique features 16. **High-involvement decisions are likely when:\ **a) Risk is high and alternatives are significant *(Correct)\ *b) Products are cheap and habitual\ c) Purchases are influenced by peers\ d) The consumer is short on time 17. **What is a key characteristic of low-involvement purchases?\ **a) Significant financial consequences\ b) Low risk and habitual behavior *(Correct)\ *c) High levels of emotional engagement\ d) Complex research processes 18. **Which scenario represents high-involvement decision-making?\ **a) Buying a snack before a movie\ b) Researching vacation destinations for months *(Correct)\ *c) Choosing a parking spot\ d) Deciding between two fast-food chains 19. **Marketers targeting high-involvement buyers should:\ **a) Focus on convenience\ b) Provide detailed information and testimonials *(Correct)\ *c) Avoid emphasizing risk\ d) Use short, catchy advertisements 20. **Low-involvement decisions often rely on:\ **a) Emotional satisfaction\ b) Brand loyalty and habit *(Correct)\ *c) Detailed comparative analysis\ d) Comprehensive research ### **Optimizing vs. Satisficing Decision Making** 21. **What does \"satisficing\" mean in decision-making?\ **a) Choosing the perfect option\ b) Selecting an option that meets minimum requirements *(Correct)\ *c) Avoiding a decision altogether\ d) Maximizing utility at all costs 22. **When do consumers tend to satisfice?\ **a) When they have abundant resources\ b) When time and effort are limited *(Correct)\ *c) When options are complex\ d) When they seek the best value 23. **Optimizing occurs when:\ **a) Consumers focus on finding the absolute best choice *(Correct)\ *b) Time and effort are minimal\ c) All alternatives are identical\ d) Decisions are routine 24. **Which scenario demonstrates satisficing?\ **a) Researching laptops for months before purchasing\ b) Choosing the first hotel that has good reviews and is affordable *(Correct)\ *c) Comparing every insurance plan available\ d) Avoiding making a choice altogether 25. **A satisficer is likely to:\ **a) Spend significant time researching\ b) Choose the first acceptable option *(Correct)\ *c) Always seek the best possible choice\ d) Avoid risk altogether 26. **Which situation typically requires optimizing?\ **a) Buying a pen\ b) Purchasing a house *(Correct)\ *c) Selecting a coffee shop\ d) Choosing a detergent brand 27. **Satisficing often results in:\ **a) The best possible outcome\ b) Reduced decision-making time *(Correct)\ *c) Increased stress\ d) Higher financial costs 28. **What is a key advantage of satisficing?\ **a) Ensures maximum satisfaction\ b) Reduces cognitive effort *(Correct)\ *c) Guarantees the best possible choice\ d) Avoids all potential risks 29. **Optimizing tends to occur when:\ **a) Products have little price variation\ b) Alternatives vary significantly in quality *(Correct)\ *c) Purchases are habitual\ d) Decisions are made under time pressure 30. **Which of the following encourages satisficing?\ **a) Limited time to decide *(Correct)\ *b) Abundance of resources\ c) Significant financial stakes\ d) High emotional involvement ### **Compensatory vs. Noncompensatory Decision Making** 31. **What is a characteristic of compensatory decision-making?\ **a) Trade-offs are made between attributes *(Correct)\ *b) Alternatives are ignored based on a single attribute\ c) Decisions are impulsive\ d) Emotional factors dominate 32. **Noncompensatory decision-making involves:\ **a) Considering all product attributes\ b) Eliminating alternatives that fail to meet a critical threshold *(Correct)\ *c) Balancing pros and cons of options\ d) Making compromises 33. **Which of the following is an example of compensatory decision-making?\ **a) Rejecting all laptops without a touch screen\ b) Choosing a car that is less affordable but highly fuel-efficient *(Correct)\ *c) Ignoring all hotels with less than four-star ratings\ d) Purchasing the cheapest available item 34. **When does noncompensatory decision-making dominate?\ **a) When trade-offs are acceptable\ b) When consumers have strict criteria *(Correct)\ *c) When all options are equally desirable\ d) When decisions are high-involvement 35. **Compensatory decision-making is suitable when:\ **a) Trade-offs are unimportant\ b) Multiple attributes affect the decision *(Correct)\ *c) Only a single attribute matters\ d) Decisions are low-risk 36. **Which strategy is consistent with noncompensatory decision-making?\ **a) Weighing all pros and cons\ b) Rejecting options that do not meet minimum standards *(Correct)\ *c) Focusing on emotional benefits\ d) Considering all available options 37. **What is the primary benefit of compensatory decision-making?\ **a) Simplifies the decision process\ b) Ensures all factors are considered *(Correct)\ *c) Reduces time and effort\ d) Avoids trade-offs 38. **Noncompensatory rules often apply to:\ **a) High-risk decisions with specific criteria *(Correct)\ *b) Low-involvement purchases\ c) Routine buying behavior\ d) Impulse purchases 39. **A consumer rejecting all smartphones without 5G capabilities demonstrates:\ **a) Compensatory decision-making\ b) Noncompensatory decision-making *(Correct)\ *c) Satisficing\ d) Emotional decision-making 40. **Compensatory models are less effective when:\ **a) There is no variation in attributes\ b) Consumers have strict requirements *(Correct)\ *c) Purchases involve minimal risk\ d) Decisions are routine