SPMT 370 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++
Post-consumption emotions
Emotions experienced after consuming and experiencing the product
-Satisfied consumers feel happy about the decision, and will more than likely repeat the
decision
-Dissatisfied consumers need to cope with feelings of disappointment and/or stress...
critical incident
an exchange between a consumer and business which could have negative implications
for the relationship
Positive word of mouth
an engagement action that occurs when consumers
spread information from one to another about positive consumption experiences with
companies
Negative word of mouth
an engagement action that takes place when
consumers pass on negative information about a company from one to another
Complaining behavior
an action that occurs when a consumer actively seeks
out someone (e.g. coping mechanism - talk to supervisor, service provider...or a friend,
, social media, WOM, etc.) with whom to share an opinion regarding a negative
consumption event
Switching
the act of a consumer choosing a competing choice, rather than repeating the previous
choice, on the next purchase occasion (i.e. loss of business)
relationship quality
degree of connectedness between a consumer and a retailer, brand, or service provider
Consumer loyalty programs
a device or strategy that encourages repeated purchasing and keeps track of the
engagement a consumer has with a business
Types of Risks Faced by Consumers
-Financial risk: The risk associated with the cost of the
product.
-Social risk: The risk associated with how other consumers will view the purchase.
-Functional risk: The risk associated with the likelihood of a product not performing as
expected.
-Physical risk: The risk associated with the safety of the product and the likelihood that
physical harm will result from its consumption.
-Time risk: The risk associated with the time required to search for the product and the
time necessary for the product to be serviced or maintained.
Steps in the decision making process
- Problem/Opportunity = Want/Need Recognition
- Search for Information related to want/need
COMPLETE SOLUTIONS GRADED A++
Post-consumption emotions
Emotions experienced after consuming and experiencing the product
-Satisfied consumers feel happy about the decision, and will more than likely repeat the
decision
-Dissatisfied consumers need to cope with feelings of disappointment and/or stress...
critical incident
an exchange between a consumer and business which could have negative implications
for the relationship
Positive word of mouth
an engagement action that occurs when consumers
spread information from one to another about positive consumption experiences with
companies
Negative word of mouth
an engagement action that takes place when
consumers pass on negative information about a company from one to another
Complaining behavior
an action that occurs when a consumer actively seeks
out someone (e.g. coping mechanism - talk to supervisor, service provider...or a friend,
, social media, WOM, etc.) with whom to share an opinion regarding a negative
consumption event
Switching
the act of a consumer choosing a competing choice, rather than repeating the previous
choice, on the next purchase occasion (i.e. loss of business)
relationship quality
degree of connectedness between a consumer and a retailer, brand, or service provider
Consumer loyalty programs
a device or strategy that encourages repeated purchasing and keeps track of the
engagement a consumer has with a business
Types of Risks Faced by Consumers
-Financial risk: The risk associated with the cost of the
product.
-Social risk: The risk associated with how other consumers will view the purchase.
-Functional risk: The risk associated with the likelihood of a product not performing as
expected.
-Physical risk: The risk associated with the safety of the product and the likelihood that
physical harm will result from its consumption.
-Time risk: The risk associated with the time required to search for the product and the
time necessary for the product to be serviced or maintained.
Steps in the decision making process
- Problem/Opportunity = Want/Need Recognition
- Search for Information related to want/need
