MARK 3000 GRANTHAM UGA STUDY ACTUAL
QUESTIONS AND ANSWERS SURE A+
✔✔External Search for Information - ✔✔Occurs when the buyer seeks information
outside his or her personal knowledge base to help make the buying decision
✔✔Internal Locus of Control - ✔✔Refers to when consumers believe they have some
control over the outcomes of their actions, in which case they generally engage in more
search activities
✔✔External Locus of Control - ✔✔Refers to when consumers believe that fate or other
external factors control all outcomes
✔✔Performance Risk - ✔✔Involves the perceived danger inherent in a poorly
performing product or service
✔✔Financial Risk - ✔✔Risk associated with a monetary outlay; includes the initial cost
of the purchase, as well as the costs of using the item or service
✔✔Social Risk - ✔✔The fears that consumers suffer when they worry others might not
regard their purchases positively
✔✔Retrieval Sets - ✔✔Includes those brands or stores that the consumer can readily
bring forth from memory
✔✔Evoked Set - ✔✔Comprises the alternative brands or stores that the consumer
states he or she would consider when making a purchase decision
✔✔Evaluate Criteria - ✔✔Consist of a set of salient, or important, attributes about a
particular product
, ✔✔Physiological Risk - ✔✔The fear of an actual harm should a product not perform
properly
✔✔Safety Risk - ✔✔Same as Psychological Risk
✔✔Psychological Risk - ✔✔Associated with the way people will feel if the product or
service does not convey the right image
✔✔Universal Sets - ✔✔Includes all possible choices for a product category
✔✔Determinant Attributes - ✔✔Product or service features that are important to the
buyer and on which competing brands or stores are perceived to differ
✔✔Consumer Decision Rules - ✔✔The set of criteria that consumers use consciously or
subconsciously to quickly and efficiently select from among several alternatives
✔✔Compensatory Decision Rule - ✔✔good characteristics compensate for bad ones;
Decision made on multiple criteria
✔✔Multi-Attribute Model - ✔✔A compensatory model of customer decision making
based on the notion that customers see a product as a collection of attributes or
characteristics. The model uses a weighted average score based on the importance of
various attributes and performance on those issues
✔✔Noncompensatory Decision Rule - ✔✔Base decision on only one criteria
✔✔Conversion Rate - ✔✔Percentage of consumers who buy a 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; buyer's remorse
✔✔Negative Word of Mouth - ✔✔Occurs when consumers spread negative information
about a product, service, or store to others
✔✔Motive - ✔✔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 lower-level, more basic needs (physiological and safety) are fulfilled,
people turn to satisfying their higher-level human needs (social and personal)
QUESTIONS AND ANSWERS SURE A+
✔✔External Search for Information - ✔✔Occurs when the buyer seeks information
outside his or her personal knowledge base to help make the buying decision
✔✔Internal Locus of Control - ✔✔Refers to when consumers believe they have some
control over the outcomes of their actions, in which case they generally engage in more
search activities
✔✔External Locus of Control - ✔✔Refers to when consumers believe that fate or other
external factors control all outcomes
✔✔Performance Risk - ✔✔Involves the perceived danger inherent in a poorly
performing product or service
✔✔Financial Risk - ✔✔Risk associated with a monetary outlay; includes the initial cost
of the purchase, as well as the costs of using the item or service
✔✔Social Risk - ✔✔The fears that consumers suffer when they worry others might not
regard their purchases positively
✔✔Retrieval Sets - ✔✔Includes those brands or stores that the consumer can readily
bring forth from memory
✔✔Evoked Set - ✔✔Comprises the alternative brands or stores that the consumer
states he or she would consider when making a purchase decision
✔✔Evaluate Criteria - ✔✔Consist of a set of salient, or important, attributes about a
particular product
, ✔✔Physiological Risk - ✔✔The fear of an actual harm should a product not perform
properly
✔✔Safety Risk - ✔✔Same as Psychological Risk
✔✔Psychological Risk - ✔✔Associated with the way people will feel if the product or
service does not convey the right image
✔✔Universal Sets - ✔✔Includes all possible choices for a product category
✔✔Determinant Attributes - ✔✔Product or service features that are important to the
buyer and on which competing brands or stores are perceived to differ
✔✔Consumer Decision Rules - ✔✔The set of criteria that consumers use consciously or
subconsciously to quickly and efficiently select from among several alternatives
✔✔Compensatory Decision Rule - ✔✔good characteristics compensate for bad ones;
Decision made on multiple criteria
✔✔Multi-Attribute Model - ✔✔A compensatory model of customer decision making
based on the notion that customers see a product as a collection of attributes or
characteristics. The model uses a weighted average score based on the importance of
various attributes and performance on those issues
✔✔Noncompensatory Decision Rule - ✔✔Base decision on only one criteria
✔✔Conversion Rate - ✔✔Percentage of consumers who buy a 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; buyer's remorse
✔✔Negative Word of Mouth - ✔✔Occurs when consumers spread negative information
about a product, service, or store to others
✔✔Motive - ✔✔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 lower-level, more basic needs (physiological and safety) are fulfilled,
people turn to satisfying their higher-level human needs (social and personal)
