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Inert
set
Which set of alternatives comprises those to which consumers are indifferent? TERM 2
Social risk
DEFINITION 2 A billionaire business woman wants to run for public office, but she's concerned about how voting constituents will react to her rich lifestyle. Her constituents are more frugal, and she's concerned that they might think less of her because of her background. Which type of risk is this? TERM 3
Perceived risk
DEFINITION 3 What risk refers to the perception of the negative consequences that are likely to result from a course of action and the uncertainty of which course of action is best to take. TERM 4
Brand inertia
DEFINITION 4 What is present when a consumer simply buys a product repeatedly without any real attachment? TERM 5
Consumer's awareness
set
DEFINITION 5 What set includes the set of brands or alternatives to which a consumer is aware.
financial risk
While most young adults would like to own a Porsche automobile, which is very expensive, which type of risk is likely preventing them from purchasing one? TERM 7
satisficing
DEFINITION 7 the practice of using decision-making shortcuts to arrive at satisfactory, rather than optimal, decisions. TERM 8
F: Consumer decision making does not always
focus on the purchase of a tangible product,
but it does always involve choices linked to
value.
DEFINITION 8 T/F:Consumer decision making always focuses on the purchase of a product or service. TERM 9
Habitual
DEFINITION 9 With what decision making is choice often based on habit? TERM 10
Performance risk
DEFINITION 10 Hal is considering purchasing a hybrid automobile because he wants better gas mileage and to help save the environment. However, he is concerned that the car might not be as good as expected. Which type of risk is Hal considering?
When the consumer realizes he or she has a
need
When does the consumer decision-making process begin? TERM 17
awareness
set
DEFINITION 17 Which term refers to the set of alternatives of which a consumer is cognizant? TERM 18
physical risk
DEFINITION 18 Which type of risk is associated with the safety of the product and the likelihood that bodily harm will result from its consumption? TERM 19
There is brand loyalty
DEFINITION 19 Refer to Coffee Maker Scenario. Jane purchased the coffee maker that was able to make her favourite brand of coffee drinks. What can be said about her feelings towards the Tim Hortons' brand? TERM 20
Experiential decision-making
DEFINITION 20 Holly is a consumer researcher who assumes that consumers often make purchases and reach decisions based on the affect, or feeling, attached to the product or behaviour under consideration. Which decision making perspective is Holly advocating?
Experiential
What decision making perspective assumes that consumers often make purchases and reach decisions based on the affect, or feeling, attached to the product or behaviour under consideration. TERM 22
consumer, marketer
DEFINITION 22 Brand loyalty has benefits for both the _____ and the ______ TERM 23
ongoing
search
DEFINITION 23 What is the term for a search effort that is not necessarily focused on an upcoming purchase or decision but rather on staying up to date on the topic? TERM 24
actual state & desired
state
DEFINITION 24 A consumer recognizes a need when he or she perceives a difference between which of the following? TERM 25
desired state
DEFINITION 25 Bill wants to be elected mayor of his town. Which term refers to the perceived state for which he strives?
Social
Which type of risk is a concern for consumers who are worried about how other consumers will view their purchases? TERM 32
Pre-purchase
DEFINITION 32 What search activities are focused on locating information that will enable the consumer to reach a decision for a specific problem. TERM 33
universal
DEFINITION 33 Which set of alternatives is the largest?
