SPMT 370 EXAM 3 QUESTIONS & ANSWERS
Consumer Decision Making Process Overview - Answers -1. Problem Recognition
2. Information Search
3. Alternatives Evaluation
4. Purchase Decision
5. Post Purchase Decision Evaluation
Consumers are continually making decisions that are meant to... - Answers -...solve
problems & satisfy wants and needs
Decision Kaking Process 5 activities: - Answers --need/want recognition
-search for information
-evaluation of elder natives
-choice
-post choice evaluation
Decision Making, Choice, Value - Answers --revolves around motivation (a goal)
-leads to consumer choice
-always linked to value
3 Perspectives of the Decision Making Process - Answers -1. Rational decision making
perspective
2. Experiential decision making perspective
3. Behavioral influence decision making
Rational Perspective - Answers --consumer are rational, carefully arrive at decision
Ex: features of ticket options
Experiential Perspective - Answers --influenced by feelings
Ex: going snowboarding for fun
Behavioral Influence Perspective - Answers --decisions are responses to environmental
influences
Ex: see a margarita billboard, go buy a marg
Perceived Risk - Answers -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
As involvement and risk increase... - Answers -Consumers are motivated to move more
carefully through the decision making process
Extended Decision Making - Answers --consumers more diligently through decision
making activities in search of the best information that will help them reach a decision
, -high involvement and significant risk
Limited Decision Making - Answers --consumers search very little for information and
often reach decisions based largely on prior beliefs about products and their attributes
-low involvement and low risk
Habitual Decision Making - Answers --consumers generally do not seek information at
all when a problem is recognized and select a product based on habit
-brand loyalty
-brand inertia
Summary of Decision Making Process - Answers --decision making processes do not
guarantee maximum value
-consumers often make mistakes or settle for alternatives that they are unsure of
-most purchases made daily are low involvement and do not entail significant risk
-some consumers called "maximizes" work to find the best solution
Satisficimos - Answers -The practice of decision making shortcuts to arrive at
satisfactory, rather than optimal decisions
Need/Want Recognition - Answers -When consumers perceive a difference between
their actual state and a desired state, the decision making process is triggered
Primary distinctions between a want and a need: - Answers --ability to put off the
purchase decision
-freedom to choose
Marketing Implications - Answers -You want to trigger a need/want
-demonstrate to the consumer the difference between actual state and desired state
Consumer Search Behavior - Answers -The set of behaviors that consumers engage in
as they seek information that can be used to satisfy needs/wants
Consumers seek: - Answers --availability of alternatives
-price of alternatives
-relevant attributes that should be considered + importance
-performance/quality of each alternative
Pre Purchase Search - Answers -A search effort aimed at finding information to solve
an immediate problem
(Computer breaks today need a new one)
OnGoing Search - Answers -A search effort that is not necessarily focused on an
upcoming purchase or decision, but rather on staying up to date on the topic
Recall - Answers -Searching for information from memory
Consumer Decision Making Process Overview - Answers -1. Problem Recognition
2. Information Search
3. Alternatives Evaluation
4. Purchase Decision
5. Post Purchase Decision Evaluation
Consumers are continually making decisions that are meant to... - Answers -...solve
problems & satisfy wants and needs
Decision Kaking Process 5 activities: - Answers --need/want recognition
-search for information
-evaluation of elder natives
-choice
-post choice evaluation
Decision Making, Choice, Value - Answers --revolves around motivation (a goal)
-leads to consumer choice
-always linked to value
3 Perspectives of the Decision Making Process - Answers -1. Rational decision making
perspective
2. Experiential decision making perspective
3. Behavioral influence decision making
Rational Perspective - Answers --consumer are rational, carefully arrive at decision
Ex: features of ticket options
Experiential Perspective - Answers --influenced by feelings
Ex: going snowboarding for fun
Behavioral Influence Perspective - Answers --decisions are responses to environmental
influences
Ex: see a margarita billboard, go buy a marg
Perceived Risk - Answers -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
As involvement and risk increase... - Answers -Consumers are motivated to move more
carefully through the decision making process
Extended Decision Making - Answers --consumers more diligently through decision
making activities in search of the best information that will help them reach a decision
, -high involvement and significant risk
Limited Decision Making - Answers --consumers search very little for information and
often reach decisions based largely on prior beliefs about products and their attributes
-low involvement and low risk
Habitual Decision Making - Answers --consumers generally do not seek information at
all when a problem is recognized and select a product based on habit
-brand loyalty
-brand inertia
Summary of Decision Making Process - Answers --decision making processes do not
guarantee maximum value
-consumers often make mistakes or settle for alternatives that they are unsure of
-most purchases made daily are low involvement and do not entail significant risk
-some consumers called "maximizes" work to find the best solution
Satisficimos - Answers -The practice of decision making shortcuts to arrive at
satisfactory, rather than optimal decisions
Need/Want Recognition - Answers -When consumers perceive a difference between
their actual state and a desired state, the decision making process is triggered
Primary distinctions between a want and a need: - Answers --ability to put off the
purchase decision
-freedom to choose
Marketing Implications - Answers -You want to trigger a need/want
-demonstrate to the consumer the difference between actual state and desired state
Consumer Search Behavior - Answers -The set of behaviors that consumers engage in
as they seek information that can be used to satisfy needs/wants
Consumers seek: - Answers --availability of alternatives
-price of alternatives
-relevant attributes that should be considered + importance
-performance/quality of each alternative
Pre Purchase Search - Answers -A search effort aimed at finding information to solve
an immediate problem
(Computer breaks today need a new one)
OnGoing Search - Answers -A search effort that is not necessarily focused on an
upcoming purchase or decision, but rather on staying up to date on the topic
Recall - Answers -Searching for information from memory
