Consumer Behavior Quiz 6.1 - 6.2

What is consumer behavior?

• The process of recalling information stored in the memory

• The enduring belief that a specific mode of conduct is personally or socially preferable to another mode of conduct

• A small intervention that can change a person’s behavior

• The processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services

What is perceived value?

• The value a consumer expects to obtain from a purchase

• A value derived from a product or service that helps the consumer solve problems and accomplish tasks

• The personal assessment of the net worth one obtains from making a purchase

• A value that acts as an end in itself rather than as a means to an end

What is hedonic value?

• The personal assessment of the net worth one obtains from making a purchase

• The value a consumer expects to obtain from a purchase

• A value derived from a product or service that helps the consumer solve problems and accomplish tasks

• A value that acts as an end in itself rather than as a means to an end

What is the first stage in the traditional consumer decision-making process?

• Information Search

• Evaluation of Alternatives and Purchase

• Psychological Ownership

• Need Recognition

What is the process of seeking information in the outside environment called?

• Non-marketing-controlled information source

• External information search

• Internal information search

• Marketing-controlled information source

What does the extent of information search depend on?

• All of the above

• Prior experience

• Knowledge

• Perceived risk

What is an evoked set in the consumer decision-making process?

• The value a consumer expects to obtain from a purchase

• A group of brands resulting from an information search from which a buyer can choose

• A value that acts as an end in itself rather than as a means to an end

• A value derived from a product or service that helps the consumer solve problems and accomplish tasks

What is a nudge in the consumer decision-making process?

• A group of brands resulting from an information search from which a buyer can choose

• The value a consumer expects to obtain from a purchase

• A value derived from a product or service that helps the consumer solve problems and accomplish tasks

• A small intervention that can change a person’s behavior

What is a planned purchase?

• None of the above

• Typically made after the consumer has collected a large amount of information (home, car)

• Often low-priced items or items on sale or purchased with a coupon, sometimes triggered by a nudge (food or snack item)

• Typically made when the consumer knows the product category but waits until shopping to choose a specific style or brand (clothing, furniture)

What is psychological ownership in consumer behavior?

• When consumers feel a sense of ownership of a product, they are willing to pay more for it and are more likely to tell other consumers about it

• The process of recalling information stored in the memory

• A value derived from a product or service that helps the consumer solve problems and accomplish tasks

• A value that acts as an end in itself rather than as a means to an end