Financial Risk – Consumer Behavior – Marketing Quiz 7

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Financial Risk, Compensatory Rules, Determinant Criteria, Consumer Behavior – Marketing Quiz

The key terms in this Consumer Behavior course include Financial Risk, Benefit, Compensatory Rules, Determinant Criteria, Underlying Attributes, Experience Qualities, Consumer Behavior – Marketing Quiz 7


The risk associated with the cost of a product is known as _____.

performance risk

financial risk

physical risk

social risk


Sean is planning to move to an apartment closer to the city center. He feels that staying closer to the city center will reduce his daily commute. This is an example of a(n) _____.

feature

concept

attribute

benefit


_____ allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute.

Lexicographic rules

Disjunctive rules

Conjunctive rules

Compensatory rules


Which of the following is true of determinant criteria?

They are easier to establish when several attributes are important.

They cannot be established by statistical methods.

They depend on the situation in which a product is consumed.

They do not change with circumstances.

Correct. Which criteria are determinant can depend largely on the situation in which a product is consumed. Marketers therefore position products on the determinant criteria that apply to a specific situation. See Evaluation of Alternatives: Criteria Evaluation of Alternatives: Criteria


The underlying attributes of a product are referred to as _____.

search qualities

features

signals

experience qualities


The risk associated with the cost of a product is known as _____.

performance risk

financial risk

physical risk

social risk


Sean is planning to move to an apartment closer to the city center. He feels that staying closer to the city center will reduce his daily commute. This is an example of a(n) _____.

feature

concept

attribute

benefit


Which of the following is true of determinant criteria?

They are easier to establish when several attributes are important.

They cannot be established by statistical methods.

They depend on the situation in which a product is consumed.

They do not change with circumstances.

Correct. Which criteria are determinant can depend largely on the situation in which a product is consumed. Marketers therefore position products on the determinant criteria that apply to a specific situation. See Evaluation of Alternatives: Criteria Evaluation of Alternatives: Criteria