Question 1

_______________ is the cognitive impression that is formed of 'reality' which in turn influences the individual's actions and behaviour toward that object.

Accepted Answer

Perception is the cognitive process that enables us to interpret and understand our surroundings. It involves the recognition and interpretation of sensory information to understand the environment, which in turn influences our actions and behavior toward objects or situations.

Question 2

Values are _____________, i.e. they are linked to our motivations and behaviour.

Accepted Answer

Values are conative as they are linked to our motivations and behavior, influencing how we act and make decisions.

Question 3

In marketing, the term ____________ refers to a system of classification of consumers based on their socio-economic grouping:

Accepted Answer

Social grade is a classification system based on socio-economic conditions that categorizes consumers, helping marketers target their audiences more effectively.

Question 4

______________ have studied psychological, cultural and institutional factors that influence decision-making and lead to outcomes very different from those predicted by neoclassical theory.

Accepted Answer

Behavioral economists study the effects of psychological, cultural, and institutional factors on decision-making, which often diverge from the predictions of neoclassical theory.

Question 5

Bollywood cinema aimed at audiences in the Indian sub-continent and at diaspora around the world, using strong love and ethical themes, and a musical format, is an example of:

Accepted Answer

Bollywood cinema, with its specific cultural and entertainment values, targets both domestic audiences and the global Indian diaspora, making it a prime example of ethnic marketing. Ethnic marketing focuses on the cultural specifics of an ethnic group, both in the homeland and abroad.

Question 6

Providing free samples of perfumes (scent) in magazines is an example of which of the following?

Accepted Answer

Providing free samples of perfumes in magazines is an example of classical conditioning, where the scent (unconditioned stimulus) is paired with the magazine (neutral stimulus) to create a positive association.

Question 7

Extrinsic reasons for purchase can be subdivided into five categories. Which of the following is NOT one of the categories?

Accepted Answer

The answer of Extrinsic reasons for purchase can be subdivided...

Question 8

Extrinsic reasons for purchase can be subdivided into following categories, except:

Accepted Answer

Political reasons are not considered extrinsic reasons for purchase.

Question 9

A variety of memorization processes affect consumer choice. The information-processing task in transferring data from short-term to long-term memory differs for ________(two to five seconds) and _________ (five to ten seconds).

Accepted Answer

Recognition and recall are two different processes in memory; recognition involves identifying information previously learned, while recall involves retrieving information without cues.

Question 10

__________theory suggests that humans are less animalistic than Skinnerian school of thought has suggested. It argues that we can delay gratification and dispense our own rewards or punishment. So, we have more choice over how we react to stimuli.

Accepted Answer

Social learning theory suggests that humans have the ability to delay gratification and self-regulate, indicating more choice in reactions to stimuli compared to the more deterministic view of behavior in Skinner's operant conditioning.

Question 11

Behaviour is brought about by our intention to act in a certain way. This intention to act is affected by the attitude a subject has towards a particular behaviour, encompassing the degree to which a person has favourable or unfavourable evaluations or appraisals of the behaviour in question. This refers to the Theory of Planned Behaviour.

Accepted Answer

The Theory of Planned Behavior posits that an individual's behavior is directly influenced by their intention to perform the behavior, which in turn is affected by their attitude towards the behavior, subjective norms, and perceived behavioral control. This includes the evaluation of the behavior as favorable or unfavorable.

Question 12

Opinions are cognitive (i.e. based on thoughts).

Accepted Answer

Opinions are formed based on thoughts, beliefs, and knowledge about a subject, making them cognitive in nature.

Question 13

Confirmation bias is defined as the tendency to recall and favor information that is aligned with and supports previously held beliefs and values.

Accepted Answer

Confirmation bias is the psychological tendency to process, interpret, and remember information in a way that confirms one's preexisting beliefs or hypotheses, leading to a preference for information that supports these beliefs while ignoring or undervaluing evidence that contradicts them.

Question 14

As a consequence of endowment effect consumers who are less knowledgeable about a certain product category are those most likely to be overconfident about their choice.

Accepted Answer

The endowment effect refers to the phenomenon where people ascribe more value to things merely because they own them, rather than being related to overconfidence in choice due to lack of knowledge about a product category. Overconfidence in this context is more closely related to the Dunning-Kruger effect, where people with limited knowledge overestimate their own ability or knowledge.

Question 15

System 1 thinking leads to fast, instantaneous, and intuitive reactions; System 2 thinking is responsible for deliberate thought processes and analytical thinking (Kahneman, 2011).

Accepted Answer

According to Daniel Kahneman's dual-process theory outlined in his 2011 book "Thinking, Fast and Slow," System 1 thinking is indeed fast, automatic, and intuitive, while System 2 thinking is slower, more deliberate, and analytical.

Question 16

A consumer whose decision alternative is blocked, partially or wholly, can become increasingly motivated to go against that specific decision alternative by demonstrating rebellious behaviour.

Accepted Answer

This phenomenon is known as psychological reactance, where individuals experience discomfort due to a perceived loss of freedom or choice and may respond by wanting to engage in the restricted behavior even more.

Question 17

The use of sales promotions to reinforce behaviour and encourage trial or purchase is an example of social learning.

Accepted Answer

Social learning theory primarily involves learning through observation, imitation, and modeling behaviors from others, rather than through direct reinforcement or incentives like sales promotions.

Question 18

Personality can be defined as that aspect of our psyche that determines the way in which we respond to our environment in a relatively stable way over time.

Accepted Answer

Personality refers to the long-term pattern of thoughts, emotions, and behaviors that characterize a person and explain how an individual interacts with and adapts to their environment, indicating a level of stability over time.

Question 19

Emotions and values refer to observable, verbal responses given by individuals to an issue or question and are easily affected by current affairs and discussions with significant others.

Accepted Answer

Emotions and values are internal states and beliefs that influence behavior and attitudes, not merely observable verbal responses. They can be affected by external factors but are not solely determined by them.

Question 20

A consumer opinion is much less susceptible to groups and social influence than their values, as values are relatively unstable positions that people take in relation to an issue or assessment of something.

Accepted Answer

Values are deeply ingrained and tend to be stable over time, influencing how individuals perceive and react to various situations, including consumer opinions, which are more susceptible to change through social influence and group dynamics.

Quiz 3: Consumer Buying Behaviour

_______________ is the cognitive impression that is formed of 'reality' which in turn influences the individual's actions and behaviour toward that object.

Values are _____________, i.e. they are linked to our motivations and behaviour.

In marketing, the term ____________ refers to a system of classification of consumers based on their socio-economic grouping:

______________ have studied psychological, cultural and institutional factors that influence decision-making and lead to outcomes very different from those predicted by neoclassical theory.

Bollywood cinema aimed at audiences in the Indian sub-continent and at diaspora around the world, using strong love and ethical themes, and a musical format, is an example of:

Providing free samples of perfumes (scent) in magazines is an example of which of the following?

Extrinsic reasons for purchase can be subdivided into five categories. Which of the following is NOT one of the categories?

Extrinsic reasons for purchase can be subdivided into following categories, except:

A variety of memorization processes affect consumer choice. The information-processing task in transferring data from short-term to long-term memory differs for (two to five seconds) and _ (five to ten seconds) .

__________theory suggests that humans are less animalistic than Skinnerian school of thought has suggested. It argues that we can delay gratification and dispense our own rewards or punishment. So, we have more choice over how we react to stimuli.

Opinions are cognitive (i.e. based on thoughts).

Confirmation bias is defined as the tendency to recall and favor information that is aligned with and supports previously held beliefs and values.

As a consequence of endowment effect consumers who are less knowledgeable about a certain product category are those most likely to be overconfident about their choice.

System 1 thinking leads to fast, instantaneous, and intuitive reactions; System 2 thinking is responsible for deliberate thought processes and analytical thinking (Kahneman, 2011).

A consumer whose decision alternative is blocked, partially or wholly, can become increasingly motivated to go against that specific decision alternative by demonstrating rebellious behaviour.

The use of sales promotions to reinforce behaviour and encourage trial or purchase is an example of social learning.

Personality can be defined as that aspect of our psyche that determines the way in which we respond to our environment in a relatively stable way over time.

Emotions and values refer to observable, verbal responses given by individuals to an issue or question and are easily affected by current affairs and discussions with significant others.

A consumer opinion is much less susceptible to groups and social influence than their values, as values are relatively unstable positions that people take in relation to an issue or assessment of something.

Quiz 3: Consumer Buying Behaviour

_______________ is the cognitive impression that is formed of 'reality' which in turn influences the individual's actions and behaviour toward that object.

Values are _____________, i.e. they are linked to our motivations and behaviour.

In marketing, the term ____________ refers to a system of classification of consumers based on their socio-economic grouping:

______________ have studied psychological, cultural and institutional factors that influence decision-making and lead to outcomes very different from those predicted by neoclassical theory.

Bollywood cinema aimed at audiences in the Indian sub-continent and at diaspora around the world, using strong love and ethical themes, and a musical format, is an example of:

Providing free samples of perfumes (scent) in magazines is an example of which of the following?

Extrinsic reasons for purchase can be subdivided into five categories. Which of the following is NOT one of the categories?

Extrinsic reasons for purchase can be subdivided into following categories, except:

A variety of memorization processes affect consumer choice. The information-processing task in transferring data from short-term to long-term memory differs for ________(two to five seconds) and _________ (five to ten seconds) .

__________theory suggests that humans are less animalistic than Skinnerian school of thought has suggested. It argues that we can delay gratification and dispense our own rewards or punishment. So, we have more choice over how we react to stimuli.

Opinions are cognitive (i.e. based on thoughts).

Confirmation bias is defined as the tendency to recall and favor information that is aligned with and supports previously held beliefs and values.

As a consequence of endowment effect consumers who are less knowledgeable about a certain product category are those most likely to be overconfident about their choice.

System 1 thinking leads to fast, instantaneous, and intuitive reactions; System 2 thinking is responsible for deliberate thought processes and analytical thinking (Kahneman, 2011).

A consumer whose decision alternative is blocked, partially or wholly, can become increasingly motivated to go against that specific decision alternative by demonstrating rebellious behaviour.

The use of sales promotions to reinforce behaviour and encourage trial or purchase is an example of social learning.

Personality can be defined as that aspect of our psyche that determines the way in which we respond to our environment in a relatively stable way over time.

Emotions and values refer to observable, verbal responses given by individuals to an issue or question and are easily affected by current affairs and discussions with significant others.

A consumer opinion is much less susceptible to groups and social influence than their values, as values are relatively unstable positions that people take in relation to an issue or assessment of something.

A variety of memorization processes affect consumer choice. The information-processing task in transferring data from short-term to long-term memory differs for (two to five seconds) and _ (five to ten seconds) .