Identify and describe the three types of consumer decision-making processes.
What will be an ideal response?
The three types of consumer decision-making processes are
1. Habitual decision making: little or no conscious effort
2. Limited problem solving: moderate amount of effort and time. Customers engage in this type of buying process when they have had some prior experience with the product or service and their risk is moderate.
3. Extended problem solving: customers devote considerable time and effort to analyze their alternatives; factors such as financial, physical, and social risks are considered
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The source of a message has an impact on whether the message will be accepted or not. Two particularly important source characteristics are ________
A) culture and ethnicity B) credibility and attractiveness C) credibility and recency D) attractiveness and recency
________ are granted for turning in old item when buying a new one
A) Promotional allowances B) Quantity discounts C) Functional discounts D) Seasonal discounts E) Trade-in allowances
For available-for-sale equity securities, the Unrealized Loss on Long-Term Investments account should be reported as a(n)
a. "other loss" item on the income statement. b. prior period adjustment. c. separate item in the stockholders' equity section of the balance sheet. d. extraordinary item on the income statement.
An entrepreneur using predictive logic is likely to:
a. avoid failure at all costs. b. iterate c. take small actions d. embrace and leverage failure