Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
Question
Provide two decision-making examples: one of an occasion when a consumer might use a compensatory decision rule, and one when the consumer might use a noncompensatory decision rule. For each, briefly identify the characteristics of the decision that would make a compensatory or noncompensatory rule the best choice. Be specific.Answer
This answer is hidden. It contains 458 characters.
Related questions
Q:
Online sales training is used to replace the one-on-one interaction of on-the-job training for advanced selling skills.
Q:
Mary visited an office building and went door to door to hand out business cards and sell office products. Mary was making cold calls.
Q:
Jobs in sales are among the highest-paying careers for college graduates.
Q:
The automobile manufacturing industry closely watches annual consumer satisfaction surveys. For years, Japanese car companies consistently had the highest levels of customer satisfaction, creating a(n) ________ for these companies.
A. strategic marketing plan
B. clear mission statement
C. operational advantage
D. sustainable competitive advantage
E. diversification strategy
Q:
When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?
A. planning
B. implementation
C. control
D. segmentation
E. metrics
Q:
Marketers want their firms to develop excellent supply chain management and strong supplier relations so they canA. persuade stores to refuse to carry competitors' products.B. use their power within the supply chain to force weaker firms to accept less favorable pricing.C. control prices and lock in margins.D. create a sustainable competitive advantage.E. justify charging higher prices than their competitors.
Q:
The "implement marketing mix" step of the strategic marketing planning process is part of the control phase.
Q:
SanDisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In the Boston Consulting Group (BCG) portfolio analysis, the Sansa would be considered a dog.
Q:
The strategic planning process always proceeds sequentially through the five steps.
Q:
Geraldo manages the electrical turbine engine division of General Electric Corporation. He makes most decisions independently, without consulting headquarters. Geraldo manages a strategic business unit.
Q:
Duke's is a surfer-themed restaurant chain in Hawaii. Most of its customers are tourists. In a SWOT analysis for Duke's, the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.
Q:
Firms are typically more successful when they focus on opportunities that build on their strengths relative to those of their competition.
Q:
The components of a SWOT analysis are strengths, weaknesses, opportunities, and tactics.
Q:
In July 2010, Microsoft discontinued the Kin, its social networking phone, after just six weeks of disappointing sales. During what step of the strategic marketing planning process would Microsoft have made the decision to stop offering the product?
Q:
Suppose that you and a friend decide to turn your favorite sports activityinline skatinginto a business. You plan to design a line of fashionable clothing that integrates elbow and kneepads. For each of the four macro strategies, briefly describe the most important thing your company should do if you intend to focus on that strategy. Your answers should be specific to the inline skating business.
Q:
Assume you are the manager of a resort property that is close to the mountains, to several recreational sites, and to a few luxury restaurants and stores. How would you manage customer expectations to enhance postpurchase satisfaction? Be specific.
Q:
What evaluative criteria would consumers be likely to use in choosing a family physician?
Q:
After her first year in college, Veronica wants to decide on a major. What internal and external sources of information will she use to help her in making a decision?
Q:
Reginald greets his regular customers by name every morning when they come in for coffee. He offers them a taste of anything special he is cooking that day. He has a database with their birthdays, and offers them free meals on their birthdays. Reginald hopes that this attention to his "regulars" will encourage them to
A. assist him in meeting his functional needs.
B. always include his firm in their universal set.
C. extend problem solving beyond ritual consumption.
D. internalize impulse attitudes.
E. spread positive word of mouth.
Q:
__________ are the three types of attribute sets.
A. Universal, retrieval, and evoked
B. University, relatives, and expression
C. United, relations, and exploration
D. Urban, random, and exchange
E. Unanimity, rule, and express
Q:
To attract and maintain habitual purchasers, marketers spend considerable effort
A. analyzing consumer data for postpurchase dissonance signals.
B. creating strong brands and store loyalty.
C. cultivating cultural decision making.
D. reducing financial risk and increasing psychological payout.
E. offering alternative brands.
Q:
Marketers love consumers who engage in __________, buying their company's product with little thought or consideration of alternatives.
A. compensatory decisions
B. personal problem solving
C. extended problem solving
D. reference group consumption
E. habitual decision making
Q:
Most big box retailers regularly move products from one aisle to another. They also put personal care products in the pharmacy area, many aisles away from the grocery products. They do this because consumers who spend more time walking through the store are likely to buy things they hadn't planned to buy, or make
A. impulse purchases.
B. limited problem-solving decisions.
C. extended problem-solving decisions.
D. ritual consumption purchases.
E. affective alternative decisions.
Q:
Last semester, Henri bought his textbooks over the Internet and saved a considerable amount of money. Classes start in a few days, and he needs to decide right away how and where to purchase his books. Henri will most likely engage in a(n) __________ process.
A. impulse buying
B. limited problem-solving
C. extended problem-solving
D. ritual consumption
E. affective decision
Q:
Limited problem solving usually relies on
A. past experience more than on external information.
B. situational stimuli and attitudes.
C. external searches for information.
D. financial analysis of performance risk.
E. evaluation of the universal set.
Q:
Many states have laws regulating the prices businesses charge during emergencies like hurricanes. These laws are designed to protect consumers whose __________ state may impair their ability to make sound purchase decisions.
A. shopping
B. social
C. theoretical
D. temporal
E. physical
Q:
Before going on his first business trip to China, Brad asked his Chinese American friend to advise him on customs and values common among the Chinese businesspeople he will likely encounter. Brad is trying to avoid __________ business blunders.
A. reference group
B. situational
C. cultural
D. cognitive
E. evoked
Q:
Beverage firms sometimes hire attractive young people to sit at fashionable bars, sipping the company's latest product offering. The firms hope these "models" will serve as a(n) __________ and influence consumers.
A. reference group
B. risk avoider
C. cultural determinant
D. cognitive learning experiment
E. evoked set
Q:
The shared meanings, beliefs, morals, values, and customs of a group of people constitute itsA. reference group.B. family.C. culture.D. cognitive frame.E. evoked set.
Q:
Christopher bought Timberland boots because he felt they were perfect for his outdoor activities. Patrick bought the same kind of boots because he felt they were stylish, especially with the logo clearly visible. The psychological factor driving Patrick's behavior is
A. a functional need.
B. lifestyle.
C. his universal set.
D. learned behavior.
E. his evoked set.