SPMT 370 REVIEW EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS GRADED A++ LATEST
UPDATE
Consumers are continually making decisions that are meant to solve problems or
opportunities, in other words...
Satisfy wants or needs
The decision-making process generally includes how many stages?
five
The Consumer Based consumption process works in conjunction with?
the decision-making process
Extended decision making
consumers move diligently through decision-making activities in search of information
that will help them reach a decision
Limited decision making
consumers spend little time searching for information and often reach decisions based
largely on prior beliefs and experiences
Habitual decision making
consumers generally do not seek information at all when a problem is recognized and
select a product based on habit.
Decision-making revolves around
, motivation
decision-making processes leads to
consumer choice
choices are linked to
value
Cognitive(Utailiarian)
rational decision-making
Affective (Hedonic)
experiential decision-making
Behavioral (Impulsive)
situational response-based decision-making
Perceived Risk
the perception of the negative consequences that are likely to result from a course of
action (a choice) and the uncertainty of outcome
Types of Perceived Risk
Social, Functional, Physical, Financial & time
Maximizers
consumers who work to find the best solution
Satisficing
the practice of using decision-making shortcuts to arrive at satisfactory, rather than
optimal, decisions
Most daily decisions and purchases are...
low-involvement and do not entail significant risk or involvement
WITH COMPLETE SOLUTIONS GRADED A++ LATEST
UPDATE
Consumers are continually making decisions that are meant to solve problems or
opportunities, in other words...
Satisfy wants or needs
The decision-making process generally includes how many stages?
five
The Consumer Based consumption process works in conjunction with?
the decision-making process
Extended decision making
consumers move diligently through decision-making activities in search of information
that will help them reach a decision
Limited decision making
consumers spend little time searching for information and often reach decisions based
largely on prior beliefs and experiences
Habitual decision making
consumers generally do not seek information at all when a problem is recognized and
select a product based on habit.
Decision-making revolves around
, motivation
decision-making processes leads to
consumer choice
choices are linked to
value
Cognitive(Utailiarian)
rational decision-making
Affective (Hedonic)
experiential decision-making
Behavioral (Impulsive)
situational response-based decision-making
Perceived Risk
the perception of the negative consequences that are likely to result from a course of
action (a choice) and the uncertainty of outcome
Types of Perceived Risk
Social, Functional, Physical, Financial & time
Maximizers
consumers who work to find the best solution
Satisficing
the practice of using decision-making shortcuts to arrive at satisfactory, rather than
optimal, decisions
Most daily decisions and purchases are...
low-involvement and do not entail significant risk or involvement
