Question 1

What is a buyer most likely experiencing when he or she examines his or her own memory and knowledge about a product or service that is gathered through past experiences?
A)An external locus of control
B)An impulse buying decision
C)An external search for information
D)An internal locus of control
E)An internal search for information

Accepted Answer

When a buyer examines his or her own memory and knowledge about a product or service that is gathered through past experiences, it is called an internal search for information. This means the buyer is relying on his or her own personal experiences and information to make a purchasing decision, rather than seeking out external sources of information.

Question 2

Which of the following statements is true of financial risk?
A)It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively.
B)It is the risk that involves the perceived danger inherent in a poorly performing product or service.
C)It is the risk associated with the fear of an actual harm should a product not perform properly.
D)It is the risk that includes the initial cost of a purchase, as well as the costs of using the item or service.
E)It is the risk associated with the way people will feel if a product or service does not convey the right image.

Accepted Answer

Financial risk refers to the monetary loss that consumers may face when making a purchase, including both the initial cost and any subsequent costs associated with using or maintaining the product or service.

Question 3

Ishika is planning to throw a party for her friends in a restaurant.She tries to recall all the restaurants that she has visited over the years and weighs the pros and cons of each of these restaurants before coming to a decision.Which of the following is being exemplified in this scenario?
A)Habitual decision making
B)An internal search for information
C)Postpurchase dissonance
D)Impulse buying
E)An external search for information

Accepted Answer

Ishika is recalling her own experiences with various restaurants, which is an example of an internal search for information, where a person relies on personal knowledge and memories to make a decision.

Question 4

The consumer belief that fate or other external factors control all outcomes is called a(n):
A)external locus of control.
B)ritual-based pattern.
C)external search for information.
D)internal locus of control.
E)internal search for information.

Accepted Answer

The description matches the definition of an external locus of control, where individuals believe that outside factors such as luck, fate or chance determine their outcomes rather than their own actions.

Question 5

A buyer seeks information beyond her personal knowledge base to help make a buying decision.This is an example of a(n):
A)external locus of control.
B)ritual-based purchase.
C)external search for information.
D)internal locus of control.
E)internal search for information.

Accepted Answer

The buyer is seeking information beyond her personal knowledge base, which indicates an external search for information.

Question 6

Gina wants to buy a car.Before buying it, she asks her friends for their opinions, reads reviews in consumer reports, consults several websites, and visits several dealerships.This is an example of:
A)habitual decision making.
B)an external search for information.
C)impulse buying.
D)an internal search for information.
E)postpurchase dissonance.

Accepted Answer

Gina is conducting an external search for information by gathering opinions from friends, reading reviews in consumer reports, consulting several websites, and visiting dealerships.

Question 7

Which of the following needs pertain specifically to the performance of a product or service?
A)Esteem needs
B)Functional needs
C)Safety needs
D)Physiological needs
E)Psychological needs

Accepted Answer

Functional needs relate to the specific performance of a product or service, such as its ability to meet the intended purpose or solve a problem. Esteem needs relate to social status or self-esteem, safety needs relate to security and protection, physiological needs relate to basic survival needs, and psychological needs relate to emotional or mental well-being.

Question 8

Consumer decision process model represents…
A)Steps consumers go through during a purchase
B)Process that consumers go through in a store to make a final purchase decision
C)Process that companies go through to convince customer to make a purchase
D)Factors that target market consider to make a purchase decision
E)Steps that consumer go through before, during, and after making purchases.

Accepted Answer

The consumer decision process model represents the steps that consumers go through before, during, and after making purchases. These steps include problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation. Therefore, option E is the best choice. The other options are not accurate as they either focus on a specific aspect of the consumer decision process or are not related to the decision-making process at all.

Question 9

Marketers can do all the followings to influence consumers decision process at the need recognition stage EXCEPT:
A)Reminder advertising for the product
B)Showing how a new product can enhance consumers' image
C)Creating awareness about a new product
D)Changing physical layout of a store to remind customers to buy certain products
E)Invest on SEO of the company website

Accepted Answer

SEO of the company website might influence consumers at other stages of the decision process (such as information search, evaluation of alternatives), but it does not directly influence the need recognition stage. The other options all directly influence consumers at the need recognition stage by reminding them of the product or creating awareness about it.

Question 10

Mary believes that if she makes a wise decision, it is not to her credit, and if she makes a poor one, it is not her fault.This is an example of:
A)an external locus of control.
B)limited problem solving.
C)an internal locus of control.
D)ritual consumption.
E)extended problem solving.

Accepted Answer

Mary's belief that outcomes are determined by external factors rather than her own decisions indicates an external locus of control.

Question 11

Ansel is planning to purchase a new house.He consults his family and friends for suggestions on suitable residential areas.He contacts a number of real estate agents to find out more about the prices of houses.He also searches online to have a look at the houses for sale and reads the comments of people interested in buying houses.This is an example of:
A)habitual decision making.
B)an internal search for information.
C)postpurchase dissonance.
D)impulse buying.
E)an external search for information.

Accepted Answer

Ansel's actions of consulting family and friends, contacting real estate agents, and searching online indicate that he is conducting an external search for information. This means he is seeking information from sources outside of himself to aid in his decision-making process.

Question 12

Mark wants to go to a good fast-food restaurant for dinner.He recalls all the fast-food restaurants that he has visited.He then decides on his favourite, a restaurant that he has been visiting since childhood.This is an example of:
A)habitual decision making.
B)an external search for information.
C)impulse buying.
D)an internal search for information.
E)postpurchase dissonance.

Accepted Answer

Mark is relying on his memory and past experiences to make a decision, which is an example of an internal search for information.

Question 13

Coraline wants to buy a new house.She is a great believer in destiny and fate.She feels that regardless of what information she has, she can do little to influence the outcome of the deal and therefore does not engage in extensive research.This is an example of:
A)an external locus of control.
B)limited problem solving.
C)an internal locus of control.
D)ritual consumption.
E)extended problem solving.

Accepted Answer

Coraline's belief in destiny and fate suggests that she believes external factors, such as luck or chance, have a greater influence on the outcome of the deal than her own actions or decisions. This is characteristic of an external locus of control.

Question 14

Raheem wants to purchase a new laptop.He believes that no matter how hard he looks at other alternatives and other brands available in the market, he will end up compromising some of the features that he would want in his laptop.He feels that he has no restraint over the outcome of his purchase.This belief is most indicative of a(n):
A)need for self-actualization.
B)internal locus of control.
C)postpurchase dissonance.
D)external locus of control.
E)social need.

Accepted Answer

Raheem's belief that his purchase outcome is beyond his control suggests an external locus of control, which is the belief that external factors, such as luck or fate, have a greater influence on one's life and outcomes than one's own actions or decisions.

Question 15

Which of the following statements is true of physiological risk?
A)It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively.
B)It is the risk that involves the perceived danger inherent in a poorly performing product or service.
C)It is the risk associated with the fear of actual harm should a product not perform properly.
D)It is the risk that includes the initial cost of a purchase, as well as the costs of using the item or service.
E)It is the risk associated with the way people will feel if a product or service does not convey the right image.

Accepted Answer

Physiological risk is the risk associated with the fear of actual harm should a product not perform properly. It encompasses concerns about the physical well-being of the consumer, such as the risk of injury, illness, or negative health effects.

Question 16

When consumers believe they have some control over the outcomes of their actions, they generally engage in more search activities.This is called a(n):
A)external locus of control.
B)ritual-based pattern.
C)external search for information.
D)internal locus of control.
E)internal search for information.

Accepted Answer

The concept of consumers believing they have control over the outcomes of their actions is related to internal locus of control. When consumers feel that they have control, they are more likely to engage in internal search for information, which is the process of gathering information from memory or personal experience, rather than seeking out external sources of information.

Question 17

The personal gratification that consumers associate with a product or service fulfills:
A)esteem needs.
B)functional needs.
C)safety needs.
D)physiological needs.
E)psychological needs.

Accepted Answer

The personal gratification that consumers feel with a product or service suggests that the product/service fulfills their psychological needs, such as the need for belonging, status, or self-expression. This goes beyond functional (B), safety (C), physiological (D), or esteem (A) needs that are more related to basic or practical requirements.

Question 18

Brian believes that he can get a better deal when buying his first bike.This is because he believes that if he conducts an extensive search for information and tries to use this information when negotiating his purchase, he will definitely be able to strike a better deal.This is an example of:
A)an external locus of control.
B)limited problem solving.
C)an internal locus of control.
D)ritual consumption.
E)extended problem solving.

Accepted Answer

Brian's belief that his actions and efforts (extensive search for information and negotiation) will directly influence the outcome (getting a better deal on a bike) exemplifies an internal locus of control. This concept refers to the perception that one has control over the events in their life through their own actions.

Question 19

While buying a new gown, Rhonda goes online and looks at several websites.She makes copious notes and spends hours comparing prices and designs.She then consults a designer friend, looks at several magazines, and discusses the issue with her sisters and mother.This is an example of:
A)an external locus of control.
B)limited problem solving.
C)an internal locus of control.
D)ritual consumption.
E)extended problem solving.

Accepted Answer

The answer of While buying a new gown, Rhonda goes...

Question 20

Which of the following statements is true of social risk?
A)It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively.
B)It is the risk that involves the perceived danger inherent in a poorly performing product or service.
C)It is the risk associated with the fear of an actual harm should a product not perform properly.
D)It is the risk that includes the initial cost of a purchase, as well as the costs of using the item or service.
E)It is the risk associated with the way people will feel if the product or service does not convey the right image.

Accepted Answer

Social risk is the risk associated with the way people will perceive a purchase or how it will affect their image or status. The statement "It is the risk that involves the fears that consumers suffer when they worry others might not regard their purchases positively" best describes social risk.

Quiz 4: Consumer Behaviour

What is a buyer most likely experiencing when he or she examines his or her own memory and knowledge about a product or service that is gathered through past experiences?

Which of the following statements is true of financial risk?

Ishika is planning to throw a party for her friends in a restaurant.She tries to recall all the restaurants that she has visited over the years and weighs the pros and cons of each of these restaurants before coming to a decision.Which of the following is being exemplified in this scenario?

The consumer belief that fate or other external factors control all outcomes is called a(n) :

A buyer seeks information beyond her personal knowledge base to help make a buying decision.This is an example of a(n) :

Gina wants to buy a car.Before buying it, she asks her friends for their opinions, reads reviews in consumer reports, consults several websites, and visits several dealerships.This is an example of:

Which of the following needs pertain specifically to the performance of a product or service?

Consumer decision process model represents…

Marketers can do all the followings to influence consumers decision process at the need recognition stage EXCEPT:

Mary believes that if she makes a wise decision, it is not to her credit, and if she makes a poor one, it is not her fault.This is an example of:

Mark wants to go to a good fast-food restaurant for dinner.He recalls all the fast-food restaurants that he has visited.He then decides on his favourite, a restaurant that he has been visiting since childhood.This is an example of:

Coraline wants to buy a new house.She is a great believer in destiny and fate.She feels that regardless of what information she has, she can do little to influence the outcome of the deal and therefore does not engage in extensive research.This is an example of:

Which of the following statements is true of physiological risk?

When consumers believe they have some control over the outcomes of their actions, they generally engage in more search activities.This is called a(n) :

The personal gratification that consumers associate with a product or service fulfills:

Brian believes that he can get a better deal when buying his first bike.This is because he believes that if he conducts an extensive search for information and tries to use this information when negotiating his purchase, he will definitely be able to strike a better deal.This is an example of:

While buying a new gown, Rhonda goes online and looks at several websites.She makes copious notes and spends hours comparing prices and designs.She then consults a designer friend, looks at several magazines, and discusses the issue with her sisters and mother.This is an example of:

Which of the following statements is true of social risk?