Question91. If a company finds that a consume

91. If a company finds that a consumer has chosen a competitive product over their company’s offering, one way to get the consumer back could be by developing a strategy wherein the company “shifts the buyer’s ideals” on one or more levels.

92. With noncompensatory models of consumer choice, positive and negative

attribute considerations usually net out.

93. Volvo has the reputation for being one of the most “safe” cars on the road. For those that value safety, Volvo would be the logical choice. The preceding is an example of the lexicographic heuristic of consumer choice.

94. If a product poses a threat to the physical well being of a consumer, this is calledpsychological risk.

95. A key driver of sales frequency is the adoption rate.

96. With respect to a consumer-buying situation that involves variety-seeking behavior, the market leader can encourage variety seeking by offering lower prices or deals.

97. Many products are bought under conditions of low involvement. This means that the consumer does not touch them except from a distance.

98. A rule of thumb is called a heuristic.

99. In the anchoring heuristic, the consumer bases his or her predictions on the quickness and ease with which a particular example of an outcome comes to mind.

100. Prospect theory maintains that consumers frame decision alternatives in terms of gains and losses according to a value function.

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