MARK 3000 GRANTHAM UGA LATEST EXAMS
SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔Low Involvement Purchases - ✔✔Low cost, standardized, not important, low risk.
Routine response behavior and habitual
✔✔In store promotions
Link to high involvement issue - ✔✔How do marketers influence low involvement
purchases?
✔✔High Involvement Purchases - ✔✔Important to consumer
Risk is present
Consumer spends effort and time purchasing
✔✔Psychological Needs - ✔✔Pertains to the personal gratification consumers associate
with a product or service
✔✔Internal Search for information - ✔✔Occurs when the buyer examines his or her own
memory and knowledge about the product or service, gathered through past
experiences
✔✔External Search for information - ✔✔Occurs when the buyer seeks information
outside his or her personal knowledge base to help make the buying decision
✔✔Universal Sets - ✔✔Includes all possible choices for a product category
✔✔Retrieval Sets - ✔✔Includes those brands or stores that the consumer can readily
bring forth from memory
✔✔Evoked Sets - ✔✔Comprises the alternative brands or stores that the consumer
states he or she would consider when making a purchase.
, ✔✔Universal Sets
Retrieval Sets
Evoked Sets - ✔✔What are the three attribute sets?
✔✔Determinant Attributes - ✔✔Product or service features that are important to the
buyer and on which competing brands or stores are perceived to differ
✔✔Compensatory Decision Rule - ✔✔At work when the consumer is evaluating
alternatives and trade offs one characteristics against another, such that good
characteristics compensate for bad ones.
✔✔Non-Compensatory Decision Rule - ✔✔At work when consumers choose a product
or service on the basis of a one characteristics or a subset of its characteristics,
regardless of the values of it other attributes.
✔✔Conversion Rate - ✔✔Percentage of consumers who buy product after viewing it
✔✔Postpurchase cognitive dissonance - ✔✔The psychologically uncomfortable state
produced by an inconsistency between beliefs and behaviors that in turn evokes a
motivation to reduce the dissonance buyers remorse.
✔✔Customer Satisfaction
Postpurchase Dissonance
Customer Loyalty - ✔✔Three components of post purchase outcomes?
✔✔Motives - ✔✔A need or want that is strong enough to cause the person to seek
satisfaction
✔✔Maslow's Hierarchy of Needs - ✔✔A paradigm for classifying people's motives.
It argues that when a lower level, more basic need are fulfilled, people turn to satisfying
their higher level human needs.
✔✔Physiological
Safety
Love
Esteem
Self-actualization - ✔✔Maslow Hierarchy of Needs from lower levels to higher levels
✔✔Physiological Needs - ✔✔Those relating to basic biological necessities of life.
Food, drink, rest, and shelter
✔✔Safety Needs - ✔✔Pertains to protection and physical well being
✔✔Love Needs - ✔✔Needs expressed through interactions with others
SCRIPT QUESTIONS AND ANSWERS SURE A+
✔✔Low Involvement Purchases - ✔✔Low cost, standardized, not important, low risk.
Routine response behavior and habitual
✔✔In store promotions
Link to high involvement issue - ✔✔How do marketers influence low involvement
purchases?
✔✔High Involvement Purchases - ✔✔Important to consumer
Risk is present
Consumer spends effort and time purchasing
✔✔Psychological Needs - ✔✔Pertains to the personal gratification consumers associate
with a product or service
✔✔Internal Search for information - ✔✔Occurs when the buyer examines his or her own
memory and knowledge about the product or service, gathered through past
experiences
✔✔External Search for information - ✔✔Occurs when the buyer seeks information
outside his or her personal knowledge base to help make the buying decision
✔✔Universal Sets - ✔✔Includes all possible choices for a product category
✔✔Retrieval Sets - ✔✔Includes those brands or stores that the consumer can readily
bring forth from memory
✔✔Evoked Sets - ✔✔Comprises the alternative brands or stores that the consumer
states he or she would consider when making a purchase.
, ✔✔Universal Sets
Retrieval Sets
Evoked Sets - ✔✔What are the three attribute sets?
✔✔Determinant Attributes - ✔✔Product or service features that are important to the
buyer and on which competing brands or stores are perceived to differ
✔✔Compensatory Decision Rule - ✔✔At work when the consumer is evaluating
alternatives and trade offs one characteristics against another, such that good
characteristics compensate for bad ones.
✔✔Non-Compensatory Decision Rule - ✔✔At work when consumers choose a product
or service on the basis of a one characteristics or a subset of its characteristics,
regardless of the values of it other attributes.
✔✔Conversion Rate - ✔✔Percentage of consumers who buy product after viewing it
✔✔Postpurchase cognitive dissonance - ✔✔The psychologically uncomfortable state
produced by an inconsistency between beliefs and behaviors that in turn evokes a
motivation to reduce the dissonance buyers remorse.
✔✔Customer Satisfaction
Postpurchase Dissonance
Customer Loyalty - ✔✔Three components of post purchase outcomes?
✔✔Motives - ✔✔A need or want that is strong enough to cause the person to seek
satisfaction
✔✔Maslow's Hierarchy of Needs - ✔✔A paradigm for classifying people's motives.
It argues that when a lower level, more basic need are fulfilled, people turn to satisfying
their higher level human needs.
✔✔Physiological
Safety
Love
Esteem
Self-actualization - ✔✔Maslow Hierarchy of Needs from lower levels to higher levels
✔✔Physiological Needs - ✔✔Those relating to basic biological necessities of life.
Food, drink, rest, and shelter
✔✔Safety Needs - ✔✔Pertains to protection and physical well being
✔✔Love Needs - ✔✔Needs expressed through interactions with others
