Consumer Behavior Exam 3 - Questions with Verified Answers

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Consumer Behavior Exam 3 - Questions with Verified Answers In a _____, the brand that has the best overall score, attribute goodness times importance summed across all of the brand's attributes, is ... the one consumers choose. brand-equivalent model resistive model compensatory model noncompensatory model brand-compliant model In a(n) _____, a negative rating on a key attribute leads to immediate rejection of the brand from the consideration set. evolutionary model expectancy-value model compensatory model noncompensatory model incremental model When brands in consumers' consideration set are similar in attractiveness, they must put more effort into making a decision and will more likely use a(n) _____. high-elaboration model compensatory model associative model cutoff model low-elaboration model Which of the following is one of the drawbacks of compensatory models? They cannot help consumers in weighing the goodness of an attribute. They cannot be used when brands in consumers' consideration set are similar in attractiveness. They form an analysis where a negative evaluation of one brand cannot be made up by the positive features on others. They require a significant amount of effort. They do not fit with most decision-making situations. For each attribute, the point at which a brand is rejected with a noncompensatory model is referred to as the _____. end note margin point cutoff level threshold benchmark Using a conjunctive model, consumers set up: minimum cutoffs for each attribute that represent the absolute lowest value they are willing to accept. evaluations that put the weight on positive information rather than on negative information. evaluations based on several of the most important attributes rather than on all of them. acceptable levels for the cutoffs that are desirable to find the good ones. evaluations to immediately eliminate brands that are inadequate on any one or more important attributes. A _____ is best when a customer wishes to rule out unsuitable options as soon as possible. brand awareness state self-affirmation strategy subjunctive model conjunctive model compensatory strategy Price comparison shopping in which consumers compare each brand on price and select the one with the desired price is an example of _____. attribute processing brand classification exploratory modeling price stratification brand processing In the _____, the consumer bases evaluations on several of the most important attributes rather than on all of them. intractable model spiral model disjunctive model value-based model exploratory model The difference between a conjunctive model and a disjunctive model is that a disjunctive model puts the weight on _____. negative information positive information attribute information attribute evaluations consumer evaluations The _____ is a compensatory model in which brands are compared by attribute, two brands at a time. dual attribute model additive difference model value-based model consumer-specific model elimination-by-aspects model With the _____, consumers order the attributes in terms of importance and compare the options one attribute at a time, starting with the most important attribute. subjunctive model spiral model exploratory model evolutionary model lexicographic model Which of the following statements is true of a lexicographic model? If one attribute of an option dominates, the consumer selects that option. Consumers stop comparing brands in case there is a tie between two attributes. It is a type of a compensatory selection strategy. A weak attribute results in immediate rejection of the brand from the consideration set. It evaluates one brand at a time. The elimination-by-aspects model is similar to the lexicographic model except that it: includes only positive attribute information. incorporates the notion of an acceptable cutoff. includes only negative attribute information. compares the attributes of two or more brands. eliminates brand associations. According to prospect theory, _____. losses loom larger than gains for consumers even when the outcomes of decision models are of the same magnitude gains are more important to consumers than losses though both have the same value when asked to set a price for an item to be exchanged, sellers typically ask for a much lesser price than buyers are willing to pay [Show More]

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