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MSLE 3500 STUDY GUIDE FOR MIDTERM #1 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

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MSLE 3500 STUDY GUIDE FOR MIDTERM #1 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS Question: 1. What are the ways we make purchase decisions ? Answer: Cognitive, responsibe, reflexive Question: 2. What is a cognitive purchase decision? Answer: We exert significant mental energy Question: 3. What is a responsive purchase decision? Answer: When we buy in response to something we've seen, read, or heard. This is the main role of branding and marketing. Question: 4. What is a reflexive purchase decision? Answer: When we buy things without even thinking because we know and trust the brand. Question: 5. What are the parts of a brand positioning statement? Answer: Target audience, benefit, and reason why Question: 6. Why do people interact with companies via social media? Answer: Adds depth to buisness-customer relationships and allows businesses to establish a sense of trust w/ customers Question: 7. Definition of heuristics Answer: Mental shortcuts that ease the cognitive load of making a decision. Ex: packaging

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MSLE 3500 STUDY GUIDE FOR MIDTERM #1 UPDATED
ACTUAL QUESTIONS AND CORRECT ANSWERS

Question:
1. What are the ways we make purchase decisions ?
Answer:
Cognitive, responsibe, reflexive

Question:
2. What is a cognitive purchase decision?
Answer:
We exert significant mental energy

Question:
3. What is a responsive purchase decision?
Answer:
When we buy in response to something we've seen, read, or heard. This is the main role of branding and
marketing.

Question:
4. What is a reflexive purchase decision?
Answer:
When we buy things without even thinking because we know and trust the brand.

Question:
5. What are the parts of a brand positioning statement?
Answer:
Target audience, benefit, and reason why

Question:
6. Why do people interact with companies via social media?
Answer:
Adds depth to buisness-customer relationships and allows businesses to establish a sense of trust w/
customers

Question:
7. Definition of heuristics
Answer:
Mental shortcuts that ease the cognitive load of making a decision. Ex: packaging

Question:
8. 5 elements to create brand insistence?
Answer:
Emotional connection, value, accessibility, awareness, relevant differentiation.

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