Chapter 2 Quiz

. Behavioral economics is a branch of traditional economics that

takes the contexts of a consumer's decisions into account.

is concerned with the time required to buy a product.

makes consumption experiences more efficient and seamless.

involves the careful expression of continuous innovations.

. A consumer that exerts deliberate effort to their thoughts and decision-making before they behave is operating in the _______ mode.

exchange

automatic

symbolic

reflective

. Consumption that is designed to provide pleasure, fun, or enjoyment is known as _______ consumption.

hedonic

default

reflective

negative

. What is consumer culture theory?

A core consumption experience, which involves the sensation of consumption and whether we feel good about it

A descriptive consumer research method where a single interviewer discusses a topic with a consumer

A broad collection of perspectives and research methods for studying the social and cultural aspects of consumption

A shift in conceptualizing the consumer as a rational decision-maker to thinking of the consumer as an experience-seeker

. Which research method is used to create a deep understanding of a culture or cultural phenomenon, including its knowledge and meaning systems?

Reciprocity

Introspection

Netnography

Ethnography

. Incremental improvements in products that tend to create very few changes to consumption patterns are called

dynamically continuous innovations.

continuous innovations.

technologically-empowered innovations.

discontinuous innovations.

. Which type of consumers tend to prefer innovations offering incremental improvements on existing technology and like to compare product features?

Laggards

The early majority

Innovators

Early adopters

. The diffusion of innovation refers to

the overall themes of communication between individuals and groups.

how consumers make sense of marketing messages and develop responses to them.

online community interactions that can be extremely helpful to consumers.

how new innovations are accepted and spread throughout a group of consumers.

. Companies can use social media to reinforce a consumer's relationship with a brand by

engaging with specific consumer groups.

anticipating consumer responses.

tracking the endowment effect.

collecting and selling consumer data.

. Online reviews are meaningful to consumers because

the writer has a clear financial incentive.

they are written by marketing professionals.

they are written by consumers with real experiences.

they can be tailored to consumers beliefs.

Quiz Content