Ch_10__PRODUCT_CONSIDERATION__EVALUATION__AND_CHOICE. All Answers

1. Marketers need to understand consumer evaluation strategies because such strategies ultimately affect consumer choice. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COB ...

1. Marketers need to understand consumer evaluation strategies because such strategies ultimately affect consumer choice. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 2. The consideration set will typically contain a subset of the total number of alternatives available in the marketplace. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Strategy Bloom's: Knowledge 3. Consumers frequently consider as many as 15 brands at a time when making a choice. a. True b. False POINTS: DIFFICULTY: False I Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 4. For a brand to be in the consideration set, it must first have been in the evoked set. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 5. As the number of brands in the consideration set increased, the chance of our brand being chosen decreases. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Strategy Bloom's: Knowledge 6. Consideration sets are always formed at point of purchase. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Strategy Bloom's: Knowledge 7. One way marketers try to influence a consumer's consideration set is through part-list cuing, which is presenting the names of just some brands when the consumer is trying to recall as many brands as possible. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 8. The part-list cuing effect suggests that by getting his/her product into the consumer's mind, a salesperson can actually decrease the probability that other brands will be retrieved from memory. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 9. The part-list cuing effect can actually help consumers be quick and efficient in decision making. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 10. The attraction effect suggests that adding a similar but inferior product to a product line hurts the overall image of the product line. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 11. According to the attraction effect, a company should never encourage consumers to consider competitors' brands, even if a competitor offers an inferior brand. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 12. Average or moderate brands are more likely to chosen from the consideration set when a person has to justify his/her decision. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge KEYWORDS: CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 14. In mixed choice, consumers can see some brands and have to recall others. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 15. Looking at an online menu and trying to decide what to order is an example of mixed choice. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge DIFFICULTY: Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 17. Consumers usually prefer a memory brand over a stimulus brand. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 18. Stimulus brands typically enjoy a choice advantage because consumers may recognize that they have forgotten important details about memory brands. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 20. In attitude-based choice, choice is based on overall evaluations of brands. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 21. For attribute-based choice to work, a prior brand attitude must exist. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 22. In attribute-based versus attitude-based choice, attitude information is typically more accessible than specific attribute information (meaning the information is easier to recall); but when there are few obvious differences among brands, attribute information is considered more diagnostic than attitude information (meaning the information is relevant to distinguishing between choices.) a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 23. According to your readings, puffery is illegal in the United States. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Ethical and Legal Understanding and Reasoning Abilities AACSB Reflective Thinking Skills CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 24. The MODE model states that motivation and opportunity must be high for consumers to use choice heuristics. a. True b. False POINTS: False 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 26. Heuristic processing is more likely when buying ketchup and less likely when buying furniture. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 27. In compensatory choice strategies, good attributes can make up for bad attributes. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 28. An important piece of information often overlooked due to the simulation heuristic is the base rate. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 29. Sally believes if she just keeps playing the lottery, eventually she will win. Sally is suffering from the law of large numbers bias. a. True b. False POINTS: False 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 30. Regression to the mean tells us that unusual events are usually followed by more typical events. a. True b. False POINTS: True 1 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 32. The lexicographic heuristic involves setting a minimum acceptable cutoff level for each attribute and selecting the first alternative that meets the minimum standard for all attributes. a. True b. False POINTS: DIFFICULTY: False I Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 33. The lexicographic heuristic involves choosing the best brand on the basis of its most important attribute. a. True b. False POINTS: True I DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 34. Thinking about the attributes you don't want often leads to different choices than does thinking about the attributes you want. a. True b. False POINTS: True 1 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 35. The additive-difference heuristic involves comparing alternatives on an attribute selected probabilistically and eliminating or rejecting alternatives that do not meet a minimum cutoff point on this attribute. a. True b. False POINTS: DIFFICULTY: False 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 36. The conjunctive heuristic involves choosing the best brand on the basis of all of its most important attributes. a. True b. False POINTS: DIFFICULTY: True 1 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge KEYWORDS: AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model International Perspective Bloom's: Knowledge 38. consists of all of the brands a person will consider purchasing. a. Evoked set b. Brand recall set c. Consideration set d. Primary decision set e. Brand awareness set c POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 39. All of the brands I can recall or remember at any time, regardless of whether I would actually consider purchasing them, is called what? a. The affect set b. The evoked set c. The choice set d. Attitude Accessibility e. The consideration set b POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 40. Which of the following statements about the consideration set is false? a. If a brand is not in the consideration set, it will not be purchased. b. As the number of brands in consideration set increase, the chances of our brand being selected decrease. c. A consideration is always at least 2 brands. d. Brands in the consideration set can come from point-of-sale. e. One way to increase choice of my brand being selected is to control the entrance of competitors' brands into the consideration set. c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Marketing Plan CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 41. Consumers very typically consider between 5 and 9 brands when making product purchase decisions. What concept helps best explain why this is so? a. Memory-based choice b. Rationalization c. Miller's rule d. The consideration set e. None of the above is correct. POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 42. Samantha is getting married. She is currently evaluating six different catering companies to cater the reception. What concept helps best explain Samantha's consideration set? a. Memory-based choice b. Subjective rationality c. Heuristic-based choice d. Attribute-based choice e. Miller's Rule e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.01- 10.01 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 43. Which of the following phenomenon is not a consumer consideration set phenomenon or influence? a. Regression to the mean effect b. Part-list cuing effect c. Attraction effect d. Compromise effect e. All of the above are consideration set influences. POINTS: DIFFICULTY: a 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Strategy Bloom's: Knowledge 44. Reminding consumers about some brands decreases consumer memory for other brands. This phenomenon is known as the: a. direction-of-comparison effect b. anchoring-and-adjustment effect c. attraction effect d. compromise effect e. None of the above is correct. e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 45. John sells televisions at Best Buy (a local electronics store). He get an extra commission if he sells the Best Buy brand, "Insignia." So, when he talks to customers, instead of comparing all of the brands the store carries, he tries to focus the customer in on just one or two other brands and compares those to the Insignia. In this way, he can limit the number of brands the customer considers. In thinking about your readings on consumer decision-making, this is an example of what concept? a. Part-list cuing b. Price-quality heuristic c. Attraction effect d. Compromise effect e. Anchoring-and-adjustment heuristic a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 46. Adding a similar but inferior decoy product to a product line increases the attractiveness of the other products. This is known as the: a. part-list cuing b. price-quality heuristic c. attraction effect d. compromise effect e. anchoring-and-adjustment heuristic c POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Knowledge 47. Sales of the Williams-Sonoma $275 horne bread baking increased when Williams-Sonoma introduced a larger and more expensive model. This is an example of which phenomenon? a. law of large numbers effect b. part-list cuing effect c. attraction effect d. compromise effect e. MODE model effect c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 48. The compromise effect is increased under what condition? a. Having to justify the decision to someone else b. Buying a gift for a friend c. When the consideration set is less than 3 brands d. When involvement is high e. Buying a product for oneself a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.02- 10.02 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 49. Reading the movie listing off a theatre's web site and trying to decide what movie to see is an example of: a. stimulus-based choice b. memory-based choice c. mixed choice d. normative choice e. heuristic choice a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 50. Tina is driving down Main Street in the town where she lives trying to decide where to eat lunch. Many of the restaurants are right on this street and she can see their signs. Others are nearby, but she can't see them- she has to recall them. What type of choice strategy is this? a. Stimulus-based choice b. Memory-based choice c. Mixed choice d. Normative choice e. Heuristic choice POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 51. Which of following statements about attribute-based versus attitude-based choice is false? a. In attitude-based choice, people make choices based on overall evaluations of brands. b. Attribute information is typically more accessible than attitude information, which means the information is easier to recall. c. Attribute-based choice is often preferred when brands are very similar overall. d. Attribute information is considered more diagnostic than attitude information. (Diagnostic means that the information is relevant to distinguishing between choices.) e. Attitude-based choice can only happen if a brand attitude exists. b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 52. What does M.O.D.E. stand for in the MODE model? a. Motivation; Opportunity; Determinants b. Memory; Opportunity; Decisions; Emotions c. Memory; Opinions; Decision; Emotions d. Motivation; Opinions; Determinants e. None of the above is correct. a POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 53. The manner in which products are displayed on a grocer shelf has little effect on consumer choice when consumer attitudes are highly accessible from memory. This hypothesis is most consistent with which theory? a. Theory of Reasoned Action b. Information Integration Theory c. MODE Model d. Expectancy Disconfirmation Model e. Dissonance Reduction Model c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.03- 10.03 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion CB&C Model Strategy Bloom's: Comprehension 54. Which statement regarding heuristics is true? a. Heuristics involve effortful processing. b. Heuristics are useful tools that managers should use more often. c. Heuristics use the scientific approach to form predictions d. Heuristics are cognitive shortcuts. e. None of the above is true. POINTS: DIFFICULTY: d 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 55. Which of the following is not a type of heuristic? a. Persuasion heuristics b. Opportunity heuristics c. Choice heuristics d. Prediction heuristics e. All of the above are types of heuristics. POINTS: DIFFICULTY: b 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 56. Consumers are most likely to use heuristics when involvement is and processing load is . a. high; high b. high; low c. low; high d. low; low e. All of the above are correct. POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 57. Which of the following about heuristics is false? a. Heuristics enable us to make decisions quickly and easily. b. Persuasion heuristics influence consumers' beliefs and attitudes. c. The MODE model is a type of choice heuristic. d. Heuristic processing is particularly likely when a decision is perceived as unimportant. e. Heuristics can lead consumers to overlook important information. c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 58. Every time Kirk shops for wine, he chooses which brand to purchase based on the how expensive the bottles are. He tries to choose one that isn't too cheap. Kirk is using what type of heuristic? a. Simulation heuristic b. Price-quality heuristic c. Rationalization heuristic d. Price-segmentation heuristic e. Representativeness heuristic b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Pricing CB&C Model Promotion Bloom's: Comprehension 59. heuristics are used to influence consumers' beliefs and attitudes. a. MODE b. Persuasion c. Attraction d. Prediction e. Choice b POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 60. Which of the following influences decision difficulty? a. Number of brands considered b. Number of attributes considered c. Time pressure d. Number of brands available e. All of the above influence decision difficulty. POINTS: DIFFICULTY: e 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.04- 10.04 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 61. Which of the following heuristics is similarity based? a. Representativeness heuristic b. Availability heuristic c. Simulation heuristic d. Anchoring-and-adjustment heuristic e. Miller's rule POINTS: DIFFICULTY: a 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 62. If a consumer believe that Sony televisions are high quality, he/she may conclude that Sony DVD players are similarly high in quality. This is most clearly an example of what type of heuristic? a. Additive-difference heuristic b. Attraction effect c. Representativeness heuristic d. Price-quality heuristic e. Simulation heuristic c POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Promotion Bloom's: Comprehension 63. You hear a small group of people talking about a movie at a party. Everyone in the group seems to have liked the movie. You assume the movie must be good. This assumption is based on what bias? a. The law of large numbers b. The representativeness heuristic c. Anchoring-and-adjustment heuristic d. The compromise effect e. The base rate effect a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 64. The first time Mark flew Rover Airlines, he had a terrible customer service experience. Thus, he was very surprised that his next two flights were quite average in terms of service. Mark's is experiencing what bias? a. The law of large numbers b. The gambler's fallacy c. The base rate effect d. Regression to the mean e. None of the above are correct. d POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 65. Suppose an insurance salesman in Southern California is trying to predict the likelihood of a client's house being damaged by an earthquake in order to estimate insurance premium costs. Within the last several weeks, there were three moderate earthquakes that received lots of media coverage and several stories in the news related to earthquakes. In what cognitive heuristic is the salesman most likely to engage? a. Representativeness heuristic b. Availability Heuristic c. Lexicographic Heuristic d. The Price/Quality Heuristic e. The Anchoring-and-Adjustment Heuristic b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 66. Joe is trying to decide where to eat dinner tonight. He considers the local restaurant around the comer from his apartment, and recalls that the last time he ate there, the service was poor and the food was cold when it arrived. He figures the chances of bad service again tonight are high so he decides to go somewhere else. What heuristic is Joe engaging in? a. Representativeness heuristic b. Availability Heuristic c. Lexicographic Heuristic d. The Price/Quality Heuristic e. The Anchoring-and-Adjustment Heuristic b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 67. Which of the following heuristics is most clearly memory based?. a. Representativeness heuristic b. Availability heuristic c. Simulation heuristic d. Framing effect e. Anchoring-and-adjustment heuristic b POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 68. Which heuristic involves forming predictions based on the ease with which a situation can be imagined? a. Representativeness heuristic b. Availability heuristic c. Simulation heuristic d. Framing effect e. Anchoring-and-adjustment heuristic c POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 69. Suggestive selling in stores, such as signs that read: "6 apples for $1.99" and "Limit 12 bottles per customer" and "Buy 2 for the price of 1" take advantage of what prediction heuristic? a. Frequency of good and bad features heuristic b. Price -Quality heuristic c. Simulation heuristic d. Representativeness heuristic e. Anchoring-and-Adjustment heuristic e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer CB&C Model Pricing CB&C Model Promotion Bloom's: Comprehension 70. Fill in the blanks: based." choice models are attitude-choice based. But, choice models attribute-choice a. Mixed-based; stimulus-based b. Noncompensatory; compensatory c. Attitude heuristic; mixed choice d. Memory-based; stimulus-based e. Compensatory; noncompensatory POINTS: DIFFICULTY: e 2 Moderate LEARNING OBJECTIVES: COBE.KARD.15.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 71. When Jim flies horne from school for break, he always chooses the cheapest flight possible. He feels this is the most important attribute of ticket purchase. (He doesn't care about carrier or flight time.) This is an example of what type of heuristic thinking? a. The lexicographic heuristic b. A disjunctive heuristic c. The attitude heuristic d. A elimination-by-aspects heuristic e. A peripheral cue heuristic a POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 72. In a choice strategy, good attributes can make up for bad attributes. The "Frequency of Good and Bad Features Heuristic" is an example of this type of choice strategy. a. attribute-based b. conjunctive heuristic c. compensatory d. non-compensatory e. None of the above is correct. c POINTS: 2 DIFFICULTY: Easy LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 73. Selecting a brand by systematically rejecting all brands that do not have the key feature you want, attribute by attribute until one brand remains is known as which choice heuristic? a. Lexicographic heuristic b. Additive-difference heuristic c. Conjunctive heuristic d. Elimination-by-aspects heuristic e. Price-quality heuristic POINTS: DIFFICULTY: d 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 74. Buying the first brand that is satisfactory on all attributes in an example of which choice heuristic? a. Lexicographic heuristic b. Additive-difference heuristic c. Conjunctive heuristic d. Elimination-by-aspects heuristic e. Price-quality heuristic POINTS: DIFFICULTY: c 2 Moderate LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Knowledge 75. Which of the following is not an attribute-based heuristic? a. Disjunctive heuristic b. Lexicographic heuristic c. Elimination-by-aspects heuristic d. Additive-difference heuristic e. All of the above are attribute-based heuristics. e POINTS: 2 DIFFICULTY: Challenging LEARNING OBJECTIVES: COBE.KARD.l5.10.05- 10.05 NATIONAL STANDARDS: United States- BUSPROG: Reflective Thin- BUSPROG: Analytic STATE STANDARDS: TOPICS: KEYWORDS: United States - NONE - DISC: Individual Dynamics - Individual Dynamics AACSB Reflective Thinking Skills CB&C Model Customer Bloom's: Comprehension 76. Why do consumers rarely have very large consideration sets? 77. Identify the ways in which to influence the consideration set discussed in your readings. 78. How can a manager use the attraction effect? 79. Why would a moderately priced camera probably be selected over a low priced or a high priced camera? 80. Defrne stimulus-based, memory-based, and mixed choice. 81. When is a memory brand preferred to a stimulus brand? 82. Tina is driving down Main Street in the town where she lives trying to decide where to eat lunch. Many of the restaurants are right on this street and she can see their signs. Others are nearby, but she can't see them- she has to recall them. What type of choice strategy is this? And, which type of restaurant is Tina more likely to choose­ one of the restaurants on Main Street or off Main Street? 83. What is the difference between attitude-based choice and attribute-based choice? 84. When are consumers likely to use a choice heuristic? When are they unlikely to do so? 85. How does the availability heuristic influence how consumers make predictions about products? 86. How does the lexicographic heuristic work? 87. Describe the conjunctive heuristic.