Chapter 6

What kind of value is the one derived from a product or service that helps the consumer solve problems and accomplish tasks?

• Hedonic value

• Utilitarian value

• Perceived value

• Solving value

All of the following are factors determining the level of consumer involvement EXCEPT:

• Interest

• Previous experience

• Social visibility

• Competitor's moves

What is this image an example of?

• A large Want-Got Gap

• A product with perceived value

• A socialization process

• A Low-Involvement purchase

What is a “group of brands resulting from an information search from which a buyer can choose”?

• Perceived set

• Search set

• Decision set

• Evoked set

What kind of involvement purchase requires eye-catching package design and/or coupons?

• High-involvement purchases

• Medium-involvement purchases

• Low-involvement purchases

• Standard-involvement purchases

What type of factors that affect the consumer decision journey are beliefs and attitudes?

• Social factors

• Cultural factors

• Individual factors

• Psychological factors

What steps of the Consumer Decision-Making Process are eliminated once a customer becomes loyal?

• Evaluation of alternatives and purchase

• Information search and evaluation of alternatives

• Post-purchase behavior

• Need recognition and information search

Who is responsible for the socialization process?

• Influencers

• Family

• Oneself

• Society

Customers seek more information about a product when there is:

• High level of interest

• More knowledge and more product experience

• More risk involved

• Options a and c are correct

What factors affect the consumer decision journey?

• Family and reference groups

• Social class

• Gender

• All of the above