MKTG 367 LATEST 2026 EXAM QUESTIONS AND
SOLUTIONS GRADED A+
✔✔consumer search behavior - ✔✔the set of behaviors that consumers engage in as
they seek information that can be used to satisfy needs
✔✔desired state - ✔✔a perceived state for which a consumer strives
✔✔experiential decision-making perspective - ✔✔a perspective that assumes
consumers often make purchases and reach decisions based on the effect, or feeling,
attached to the product or behavior under consideration
✔✔extended decision making - ✔✔a decision-making approach when consumers move
diligently through various problem-solving activities in search of the best information that
will help them reach a decision
✔✔external search - ✔✔the gathering of information from sources external to the
consumer such as friends, family, salespeople, advertising, independent research
reports, and the internet
✔✔habitual decision making - ✔✔a decision-making approach when consumers
generally do not seek information at all when a problem is recognized and select a
product based on habit
✔✔inept set - ✔✔the alternatives in the awareness set that are deemed to be
unacceptable for further consideration
✔✔inert set - ✔✔the alternatives in the awareness set about which consumers are
indifferent or do not hold strong feelings
✔✔information overload - ✔✔the situation in which consumers are presented with so
much information that they cannot assimilate the variety of information presented
✔✔internal search - ✔✔the retrieval of knowledge stored in memory about products,
services, and experiences
✔✔limited decision making - ✔✔a decision-making approach when consumers search
very little for information and often reach decisions based largely on prior beliefs about
products and their attributes
✔✔ongoing search - ✔✔a search effort that is not necessarily focused on an upcoming
purchase or decision, but rather on staying up to date on the topic
, ✔✔perceived risk - ✔✔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
✔✔prepurchase search - ✔✔a search effort aimed at finding information to solve an
immediate problem
✔✔price - ✔✔the information that signals the amount of potential value contained in a
product
✔✔quality - ✔✔a perceived overall goodness or badness of some product
✔✔rational decision-making perspective - ✔✔a perspective that assumes consumers
diligently gather information about purchases, carefully compare various brands of
products on salient attributes, and make informed decisions regarding what brand to
buy
✔✔satisficing - ✔✔the practice of using decision-making shortcuts to arrive at
satisfactory, rather than optimal, decisions
✔✔search regret - ✔✔the negative emotions that come from failed search processes
✔✔universal set - ✔✔the total collection of all possible solutions to a consumer problem
✔✔variety-seeking behavior - ✔✔a behavior that involves seeking new brands or
products as a response to boredom or to satisfy a perceived need for change
✔✔affect-based evaluation - ✔✔The evaluative process wherein consumers evaluate
products based on the overall feeling that is evoked by the alternative
✔✔attribute correlation - ✔✔The perceived relationship between product features
✔✔attribute-based evaluation - ✔✔The evaluative process wherein alternatives are
evaluated across a set of attributes that are considered relevant to the purchase
situation
✔✔benefit - ✔✔The perceived favorable results derived from a particular feature
✔✔bounded rationality - ✔✔The idea that consumers attempt to act rationally within
their information-processing constraints
✔✔compensatory rule - ✔✔The decision rule that allows consumers to select products
that may perform poorly on one attribute by compensating for the poor performance by
the good performance on another attribute
SOLUTIONS GRADED A+
✔✔consumer search behavior - ✔✔the set of behaviors that consumers engage in as
they seek information that can be used to satisfy needs
✔✔desired state - ✔✔a perceived state for which a consumer strives
✔✔experiential decision-making perspective - ✔✔a perspective that assumes
consumers often make purchases and reach decisions based on the effect, or feeling,
attached to the product or behavior under consideration
✔✔extended decision making - ✔✔a decision-making approach when consumers move
diligently through various problem-solving activities in search of the best information that
will help them reach a decision
✔✔external search - ✔✔the gathering of information from sources external to the
consumer such as friends, family, salespeople, advertising, independent research
reports, and the internet
✔✔habitual decision making - ✔✔a decision-making approach when consumers
generally do not seek information at all when a problem is recognized and select a
product based on habit
✔✔inept set - ✔✔the alternatives in the awareness set that are deemed to be
unacceptable for further consideration
✔✔inert set - ✔✔the alternatives in the awareness set about which consumers are
indifferent or do not hold strong feelings
✔✔information overload - ✔✔the situation in which consumers are presented with so
much information that they cannot assimilate the variety of information presented
✔✔internal search - ✔✔the retrieval of knowledge stored in memory about products,
services, and experiences
✔✔limited decision making - ✔✔a decision-making approach when consumers search
very little for information and often reach decisions based largely on prior beliefs about
products and their attributes
✔✔ongoing search - ✔✔a search effort that is not necessarily focused on an upcoming
purchase or decision, but rather on staying up to date on the topic
, ✔✔perceived risk - ✔✔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
✔✔prepurchase search - ✔✔a search effort aimed at finding information to solve an
immediate problem
✔✔price - ✔✔the information that signals the amount of potential value contained in a
product
✔✔quality - ✔✔a perceived overall goodness or badness of some product
✔✔rational decision-making perspective - ✔✔a perspective that assumes consumers
diligently gather information about purchases, carefully compare various brands of
products on salient attributes, and make informed decisions regarding what brand to
buy
✔✔satisficing - ✔✔the practice of using decision-making shortcuts to arrive at
satisfactory, rather than optimal, decisions
✔✔search regret - ✔✔the negative emotions that come from failed search processes
✔✔universal set - ✔✔the total collection of all possible solutions to a consumer problem
✔✔variety-seeking behavior - ✔✔a behavior that involves seeking new brands or
products as a response to boredom or to satisfy a perceived need for change
✔✔affect-based evaluation - ✔✔The evaluative process wherein consumers evaluate
products based on the overall feeling that is evoked by the alternative
✔✔attribute correlation - ✔✔The perceived relationship between product features
✔✔attribute-based evaluation - ✔✔The evaluative process wherein alternatives are
evaluated across a set of attributes that are considered relevant to the purchase
situation
✔✔benefit - ✔✔The perceived favorable results derived from a particular feature
✔✔bounded rationality - ✔✔The idea that consumers attempt to act rationally within
their information-processing constraints
✔✔compensatory rule - ✔✔The decision rule that allows consumers to select products
that may perform poorly on one attribute by compensating for the poor performance by
the good performance on another attribute
