Answered: Why can “mindless” decision making…

Ciccarelli: Psychology_5 (5th Edition)

5th Edition

ISBN:9780134477961

Author:Saundra K. Ciccarelli, J. Noland White

Publisher:Saundra K. Ciccarelli, J. Noland White

Chapter1: The Science Of Psychology

Section: Chapter Questions

Problem 1TY

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Question

1. Why can “mindless” decision making actually be more efficient than devoting a lot of thought to what we buy? 2. List the steps in the model of cognitive decision making. 3. What is purchase momentum, and how does it relate (or not relate) to the model of rational decision making? 4. Explain how a consumer can display signs of purchase momentum. 5. Name two ways in which a consumer problem arises. 6. Give an example of the sunk-cost fallacy. 7. What is prospect theory? Does it support the argument that we are rational decision makers? 8. “Marketers need to be extra sure their product works as promised when they first introduce it.” How does this statement relate to what we know about consumers’ evoked sets? 9. Describe the difference between a superordinate category, a basic level category, and a subordinate category. 10. What is an example of an exemplar product? 11. List three product attributes that consumers use as product quality signals and provide an example of each. 12. How does a brand name work as a heuristic? 13. Describe the difference between inertia and brand loyalty. 14. What is the difference between a non-compensatory and a compensatory decision rule? Give one example of each. 15. What is a prime? How does it differ from a nudge? 16. What are some factors that influence how an organizational buyer evaluates a purchase decision? 17. What is a prediction market? 18. Distinguish between straight rebuy and modified rebuy. 19. How can a marketer manipulate the social and physical surroundings in a retail store to influence purchasing decisions? How does it work? 20. In terms of temporal factors, what does slow or fast mean? 21. Helicopter moms may be an American phenomenon, but is there anything similar to this in your own country? 22. Describe the role of family financial officer. How does this role change over time? 23. What is meant by the concept of the synoptic deal? Is it relevant in most cases? How would you distinguish between a consensual purchase decision and an accommodative one? Provide an example of each of them.

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