SPMT 370 - Exam 3 2025/2026 Exam
Questions with Detailed Verified
Answers (100% Correct Answers) |
Already Graded A+
decision making process - 🧠 ANSWER ✔✔1.) need/want recognition
2.) search for information
3.) evaluation of alternatives
4.) choice
5.) post choice evaluation
extended decision making - 🧠 ANSWER ✔✔consumers move diligently
through decision making activities in search for information that will help
them reach a decision (high involvement and significant risk)
limited decision making - 🧠 ANSWER ✔✔consumers spend little time
searching for information and often reach decisions based largely on prior
beliefs and experiences (low involvement and low risk)
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,habitual decision making - 🧠 ANSWER ✔✔consumers generally do not
seek information at all when a problem is recognized and select a product
based on habit (lowest risk)
brand loyalty - 🧠 ANSWER ✔✔deeply held commitment to a
product/service regardless of situational factors that could lead to switching
brand inertia - 🧠 ANSWER ✔✔buys repeatedly without any real attachment
cognitive (utilitarian) value appraoch - 🧠 ANSWER ✔✔rational decision
making
affective (hedonic) value approach - 🧠 ANSWER ✔✔experiential decision
making
behavioral (impulsive) value approach - 🧠 ANSWER ✔✔situational
response based decision making
rational decision making - 🧠 ANSWER ✔✔consumers are rational and they
carefully arrive at decisions based on data and information
experiential decision making - 🧠 ANSWER ✔✔decision making is often
influenced by the feelings associated with consumption/experiences
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, behavioral decision making - 🧠 ANSWER ✔✔decisions are responses to
environmental influences
perceived risk - 🧠 ANSWER ✔✔the perception of the negative
consequences that are likely to result form a course of action (a choice)
and the uncertainty of outcome
financial risk - 🧠 ANSWER ✔✔the risk associated with the cost of the
product
social risk - 🧠 ANSWER ✔✔the risk associated with how other consumers
will view the purchase
functional risk - 🧠 ANSWER ✔✔the risk associated with the likelihood of a
product not performing as expected
physical risk - 🧠 ANSWER ✔✔the risk associated with the safety of the
product and the likelihood that physical harm will result from its
consumption
time risk - 🧠 ANSWER ✔✔the risk associated with the time required to
search for the product and the time necessary for the product to be
serviced or maintained
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
Questions with Detailed Verified
Answers (100% Correct Answers) |
Already Graded A+
decision making process - 🧠 ANSWER ✔✔1.) need/want recognition
2.) search for information
3.) evaluation of alternatives
4.) choice
5.) post choice evaluation
extended decision making - 🧠 ANSWER ✔✔consumers move diligently
through decision making activities in search for information that will help
them reach a decision (high involvement and significant risk)
limited decision making - 🧠 ANSWER ✔✔consumers spend little time
searching for information and often reach decisions based largely on prior
beliefs and experiences (low involvement and low risk)
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 1
,habitual decision making - 🧠 ANSWER ✔✔consumers generally do not
seek information at all when a problem is recognized and select a product
based on habit (lowest risk)
brand loyalty - 🧠 ANSWER ✔✔deeply held commitment to a
product/service regardless of situational factors that could lead to switching
brand inertia - 🧠 ANSWER ✔✔buys repeatedly without any real attachment
cognitive (utilitarian) value appraoch - 🧠 ANSWER ✔✔rational decision
making
affective (hedonic) value approach - 🧠 ANSWER ✔✔experiential decision
making
behavioral (impulsive) value approach - 🧠 ANSWER ✔✔situational
response based decision making
rational decision making - 🧠 ANSWER ✔✔consumers are rational and they
carefully arrive at decisions based on data and information
experiential decision making - 🧠 ANSWER ✔✔decision making is often
influenced by the feelings associated with consumption/experiences
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 2
, behavioral decision making - 🧠 ANSWER ✔✔decisions are responses to
environmental influences
perceived risk - 🧠 ANSWER ✔✔the perception of the negative
consequences that are likely to result form a course of action (a choice)
and the uncertainty of outcome
financial risk - 🧠 ANSWER ✔✔the risk associated with the cost of the
product
social risk - 🧠 ANSWER ✔✔the risk associated with how other consumers
will view the purchase
functional risk - 🧠 ANSWER ✔✔the risk associated with the likelihood of a
product not performing as expected
physical risk - 🧠 ANSWER ✔✔the risk associated with the safety of the
product and the likelihood that physical harm will result from its
consumption
time risk - 🧠 ANSWER ✔✔the risk associated with the time required to
search for the product and the time necessary for the product to be
serviced or maintained
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER:
619652435. TERMS OF USE. PRIVACY STATEMENT. ALL RIGHTS RESERVED 3
