Consumer Behavior: Global Edition: Leeds University Business School by Michael Solomon

Author:Michael Solomon [Solomon, Michael]
Language: eng
Format: mobi
Publisher: Pearson Education
Published: 2013-02-17T14:00:00+00:00

CHAPTER 8 Decision Making

353

low-literate consumer, 327

neuromarketing, 343

reputation economy, 345

market beliefs, 346

noncompensatory decision rules, 350

satisficing, 328

maximizing, 328

perceived risk, 336

search engines, 328

mental accounting, 330

problem recognition, 326

Sisyphus Effect, 329

milieu, 323

product signal, 345

social game, 323

MMORPGs (massively multiplayer

prospect theory, 332

variety amnesia, 330

online role playing games), 324

purchase momentum, 322

variety seeking, 330

mode, 323

rational perspective, 321

Zipf’s Law, 349

REVIEW

1 Why do we say that “mindless” decision making can actually be

9 List three types of perceived risk, and give an example of

more efficient than devoting a lot of thought to what we buy?

each.

2 List the steps in the model of rational decision making.

10 “Marketers need to be extra sure their product works as

3 What is purchase momentum, and how does it relate (or

promised when they first introduce it.” How does this state-

not) to the model of rational decision making?

ment relate to what we know about consumers’ evoked

4 What is the difference between the behavioral influence

sets?

and experiential perspectives on decision making? Give

11 Describe the difference between a superordinate category,

an example of the type of purchase that each perspective

a basic level category, and a subordinate category.

would most likely explain.

12 What is an example of an exemplar product?

5 Name two ways in which a consumer problem arises.

13 List three product attributes that consumers use as product

6 Give an example of the sunk-cost fallacy.

quality signals and provide an example of each.

7 What is prospect theory? Does it support the argument that

14 How does a brand name work as a heuristic?

we are rational decision makers?

15 Describe the difference between inertia and brand loyalty.

8 Describe the relationship between a consumer’s level of

16 What is the difference between a noncompensatory and a

expertise and how much she is likely to search for infor-

compensatory decision rule? Give one example of each.

mation about a product.

CONSUMER BEHAVIOR CHALLENGE

■ DISCUSS

1 This chapter argues that for many of today’s consumers,

6 What is the future of social gaming? How do you evaluate

it’s a bigger problem to have too many choices than to not

the potential of these activities for marketing activities?

have enough choices. Do you agree? Is it possible to have

7 Technology has the potential to make our lives easier as it

too much of a good thing?

reduces the amount of clutter we need to work through to

2 Commercial Alert, a consumer group, is highly critical of

access the information on the Internet that really interests

neuromarketing. The group’s executive director wrote,

us. However, perhaps intelligent agents that make recom-

“What would happen in this country if corporate market-

mendations based only on what we and others like us have

ers and political consultants could literally peer inside our

chosen in the past limit us, in that they reduce the chance

brains and chart the neural activity that leads to our selec-

that we will stumble on something (e.g., a book on a topic

tions in the supermarket and voting booth? What if they

we’ve never heard of or a music group that’s different from

then could trigger this neural activity by various means, so

the style we usually listen to) through serendipity. Will the

as to modify our behavior to serve their own ends?” 108 What

proliferation of “shopping bots”

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