Understanding Consumer Biases

What is the primary effect of anchoring bias on consumer decisions?

• It makes consumers ignore all new information.

• It encourages consumers to seek out multiple opinions.

• It causes consumers to rely heavily on the first piece of information they receive.

• It leads consumers to focus only on the price of a product.

How does a positive mood influence consumer behavior?

• Consumers become more critical of product quality.

• Consumers are more likely to respond positively to new products.

• Consumers tend to avoid making any purchases.

• Consumers are more likely to focus on negative information.

Why might consumers in a negative mood shop more?

• To focus on negative reviews.

• To avoid making decisions.

• To mitigate their negative mood.

• To enhance their negative mood.

What is the impact of negativity bias on consumer reviews?

• Consumers give equal weight to positive and negative reviews.

• Consumers tend to ignore negative reviews.

• Consumers focus more on negative reviews than positive ones.

• Consumers only read positive reviews.

How do marketers try to counteract negativity bias?

• By increasing the number of positive reviews.

• By satisfying consumer needs to avoid negative comments.

• By focusing solely on positive reviews.

• By ignoring negative comments.