AMB200 Exam Questions And 100% Correct Answers
Consumer Behaviour - ANSWER The study of the processes involved when individuals
or groups select, purchase, use or dispose of products, services, ideas or experiences
to satisfy needs or desires.
3 Phrases of the consumer behaviour process - ANSWER 1) Preconsumption
2) Consumption
3) Post Consumption
Factors in the consumption process - ANSWER Co- Create Value, Crowd Sourcing,
Value in use
Co-Create Value - ANSWER Consumers want to co-create value by being actively
involved in the process.
Crowd Sourcing - ANSWER Where consumers become actively involved in projects
including fundraising, innovation & even manufacturing.
Value in use - ANSWER Recognises that value is not just created at the point of an
exchange. Value can be created in the consumption of the experience itself.
Types of Consumer Decisions - ANSWER Extended Problem Solving
Limited Problem Solving
Habitual Decision Making
5 Stages of Consumer Decision Making - ANSWER Problem Recognition
Information Search
, Evaluation of Alternatives
Choosing between Alternatives
Purchase
Evoked Set - ANSWER Alternatives actively considered during decision making process
(already in consumers memory, or prominent in retail environment).
Consideration Set - ANSWER Alternatives that you would actually consider.
Inept Set - ANSWER Alternatives you would never consider.
Heuristics - ANSWER Mental rules of thumb which aids speedy decision making.
Non Compensatory Rules - ANSWER Choice short cuts that eliminates all options that do
not meet basic standards
Compensatory Rules - ANSWER Choice shortcuts where poor performance on one
attribute can be compensated by quality performance on others.
Lexicographic rule - ANSWER The product that is best on the most important attribute is
selected
Elimination by aspects rule - ANSWER Products are eliminated based on specific cut
offs for predetermined attributes.
Conjunctive Rule- ANSWER The brand is chosen if it meets all the cut offs
Simple Additive rule - ANSWER Consumer selects the alternative with the largest
number of positive attributes-add up all ratings
Consumer Behaviour - ANSWER The study of the processes involved when individuals
or groups select, purchase, use or dispose of products, services, ideas or experiences
to satisfy needs or desires.
3 Phrases of the consumer behaviour process - ANSWER 1) Preconsumption
2) Consumption
3) Post Consumption
Factors in the consumption process - ANSWER Co- Create Value, Crowd Sourcing,
Value in use
Co-Create Value - ANSWER Consumers want to co-create value by being actively
involved in the process.
Crowd Sourcing - ANSWER Where consumers become actively involved in projects
including fundraising, innovation & even manufacturing.
Value in use - ANSWER Recognises that value is not just created at the point of an
exchange. Value can be created in the consumption of the experience itself.
Types of Consumer Decisions - ANSWER Extended Problem Solving
Limited Problem Solving
Habitual Decision Making
5 Stages of Consumer Decision Making - ANSWER Problem Recognition
Information Search
, Evaluation of Alternatives
Choosing between Alternatives
Purchase
Evoked Set - ANSWER Alternatives actively considered during decision making process
(already in consumers memory, or prominent in retail environment).
Consideration Set - ANSWER Alternatives that you would actually consider.
Inept Set - ANSWER Alternatives you would never consider.
Heuristics - ANSWER Mental rules of thumb which aids speedy decision making.
Non Compensatory Rules - ANSWER Choice short cuts that eliminates all options that do
not meet basic standards
Compensatory Rules - ANSWER Choice shortcuts where poor performance on one
attribute can be compensated by quality performance on others.
Lexicographic rule - ANSWER The product that is best on the most important attribute is
selected
Elimination by aspects rule - ANSWER Products are eliminated based on specific cut
offs for predetermined attributes.
Conjunctive Rule- ANSWER The brand is chosen if it meets all the cut offs
Simple Additive rule - ANSWER Consumer selects the alternative with the largest
number of positive attributes-add up all ratings
