SPMT 370 Waltemyer Test Exam 3 Questions
with Verified Correct Answers
What is the main goal of satisfying customers?
Satisfy wants and needs
Types of decision making
Extended Decision Making, Limited Decision Making, Habitual Decision Making
Extended Decision Making
consumers move diligently through decisions making activities in search of information that will
help them reach a decision
Limited Decision Making
consumers spend little time searching for information and often reach decisions based largely
on prior beliefs and experiences
Habitual Decision Making
consumers generally do not seek information at all when a problem is recognized and select a
product based on habit
What does decision making revolve around?
Motivation
Decision making process leads to ___?
consumer choice
Choice is linked to ___?
value
Cognitive Value = ?
Rational decision making
Affective Value = ?
, Experiental decision making
Behavioral Value = ?
situational response - based decision making
Perceived Risk
the perception of the negative consequences that are likely to result from a course of action and
the uncertainty of outcome
Maximizers
consumers who work to find the best solution
Consumer Search Behavior
set of behaviors that consumers engage in as they seek information that can be used to satisfy
wants and needs
Information Consumers Search
Availability of alternatives
Price of alternatives
Performance/ quality of alternatives
Relevant attributes that should be considered AND their importance
Recall
Searching for information from memory/experience
Attributes
specific elements of the brand/product, which are important to the consumer
Evaluations
general/overall recollection (+ or -) about a brand/product
External Search
the gathering of information from sources external to the consumer
Common External Forces:
Significant Others
Retailers
Online Reviews and Social Media
with Verified Correct Answers
What is the main goal of satisfying customers?
Satisfy wants and needs
Types of decision making
Extended Decision Making, Limited Decision Making, Habitual Decision Making
Extended Decision Making
consumers move diligently through decisions making activities in search of information that will
help them reach a decision
Limited Decision Making
consumers spend little time searching for information and often reach decisions based largely
on prior beliefs and experiences
Habitual Decision Making
consumers generally do not seek information at all when a problem is recognized and select a
product based on habit
What does decision making revolve around?
Motivation
Decision making process leads to ___?
consumer choice
Choice is linked to ___?
value
Cognitive Value = ?
Rational decision making
Affective Value = ?
, Experiental decision making
Behavioral Value = ?
situational response - based decision making
Perceived Risk
the perception of the negative consequences that are likely to result from a course of action and
the uncertainty of outcome
Maximizers
consumers who work to find the best solution
Consumer Search Behavior
set of behaviors that consumers engage in as they seek information that can be used to satisfy
wants and needs
Information Consumers Search
Availability of alternatives
Price of alternatives
Performance/ quality of alternatives
Relevant attributes that should be considered AND their importance
Recall
Searching for information from memory/experience
Attributes
specific elements of the brand/product, which are important to the consumer
Evaluations
general/overall recollection (+ or -) about a brand/product
External Search
the gathering of information from sources external to the consumer
Common External Forces:
Significant Others
Retailers
Online Reviews and Social Media
