MBA 706 EXAM QUESTIONS AND
ANSWERS UPDATED (2024/2025)
(VERIFIED ANSWERS)
Limited problem solving - ANS ✓ex: home appliances ( more expensive more
time to make decision)
browse web, research the product, pricing
extended problem solving - ANS ✓very seldom make, long time to make
decision
ex: new home, vehicle
Understanding the context of consumer decision making process - ANS
✓demographics ex: money, age
Product availability ex: shortages
number of alternatives ex: other products
occasion ex: gift buying, anni
NEED RECOGNITION - ANS ✓FUNCTIONAL NEEDS
PSYCHOLOGICAL NEEDS
MBA 706
, 2
MBA
Functional and psychological needs - ANS ✓interaction between functional
and psychological needs helps with marketing mix elements
ex: buying furniture
Information Search - ANS ✓Internal and external sources
perceived benefits vs perceived costs affect - ANS ✓information search
perceived costs include - ANS ✓financial and social consequences
Risks associated with purchase (more expensive) - ANS ✓Psychological- did i
make the right purchase
performance-electronics
financial- automobile(finance)
physiological- safe?
social- what will people think
Alternative evaluation - ANS ✓Evoked Set
retrieval
universal
Evoked Set - ANS ✓preferred brands, products, and channels
MBA 706
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