SPMT 370 Exam 3 Question and
answers correctly solved 2025/2026
Decision-Making Process - correct answer ✔The process of choosing between two or more alternatives
or options; most logical way to make a decision.
Extended Decision-Making - correct answer ✔When consumers move diligently through decision-
making activities in search of the best information that will help them reach a decision.
The Extended Decision-Making process is... - correct answer ✔High Involvement and Significant Risk.
The Limited Decision-Making process is... - correct answer ✔Low involvement (e.g., time constraints)
and generally Low Risk
Habitual Decision-Making - correct answer ✔Consumers generally do not seek information at all when
a problem is recognized and select a product based on habit.
Examples of Habitual Decision Making are... - correct answer ✔Brand Loyalty and Brand Inertia
Brand Loyalty - correct answer ✔Consistent preference for one brand over all others.
Brand Inertia - correct answer ✔Occurs when a consumer simply buys a product repeatedly without
any real attachment
What does decision-making revolve around? - correct answer ✔Motivation
What do decision-making processes lead to? - correct answer ✔Consumer Choice
, Consumer choice is always linked to what? - correct answer ✔Value
What are the 3 "value" related approaches to the decision-making process? - correct answer ✔-
Rational (Utilitarian)
- Experiential (Hedonic)
- Behavioral Influence (Impulsive)
Perceived Risk - correct answer ✔The perception of the negative consequences that are likely to result
from a course of action (a choice) and the uncertainty of which course of action is best to take.
Financial Risk - correct answer ✔Risk associaated with the cost of the product. (BIGGEST RISK)
Social Risk - correct answer ✔Risk associated with how other consumers will view the purchase.
Functional Risk - correct answer ✔Risk associated with a product not performing as expected.
Physical Risk - correct answer ✔Risk associated with the safety of a product and the likelihood that
physical harm will result from consumption.
Time Risk - correct answer ✔Risk associated with the time required to search for the product and the
time necessary for the product to be serviced or maintained.
The decision-making process does not always guarantee _____________. - correct answer ✔Maximum
Value
Maximizers - correct answer ✔Consumers who work to find the best solution.
answers correctly solved 2025/2026
Decision-Making Process - correct answer ✔The process of choosing between two or more alternatives
or options; most logical way to make a decision.
Extended Decision-Making - correct answer ✔When consumers move diligently through decision-
making activities in search of the best information that will help them reach a decision.
The Extended Decision-Making process is... - correct answer ✔High Involvement and Significant Risk.
The Limited Decision-Making process is... - correct answer ✔Low involvement (e.g., time constraints)
and generally Low Risk
Habitual Decision-Making - correct answer ✔Consumers generally do not seek information at all when
a problem is recognized and select a product based on habit.
Examples of Habitual Decision Making are... - correct answer ✔Brand Loyalty and Brand Inertia
Brand Loyalty - correct answer ✔Consistent preference for one brand over all others.
Brand Inertia - correct answer ✔Occurs when a consumer simply buys a product repeatedly without
any real attachment
What does decision-making revolve around? - correct answer ✔Motivation
What do decision-making processes lead to? - correct answer ✔Consumer Choice
, Consumer choice is always linked to what? - correct answer ✔Value
What are the 3 "value" related approaches to the decision-making process? - correct answer ✔-
Rational (Utilitarian)
- Experiential (Hedonic)
- Behavioral Influence (Impulsive)
Perceived Risk - correct answer ✔The perception of the negative consequences that are likely to result
from a course of action (a choice) and the uncertainty of which course of action is best to take.
Financial Risk - correct answer ✔Risk associaated with the cost of the product. (BIGGEST RISK)
Social Risk - correct answer ✔Risk associated with how other consumers will view the purchase.
Functional Risk - correct answer ✔Risk associated with a product not performing as expected.
Physical Risk - correct answer ✔Risk associated with the safety of a product and the likelihood that
physical harm will result from consumption.
Time Risk - correct answer ✔Risk associated with the time required to search for the product and the
time necessary for the product to be serviced or maintained.
The decision-making process does not always guarantee _____________. - correct answer ✔Maximum
Value
Maximizers - correct answer ✔Consumers who work to find the best solution.
