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What is the basic idea behind the term “mere ownership” as discussed in class?

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Please send as a single file and label each question clearly.

Final Exam—Please type all of your answers and be sure to check for typos and grammatical correctness as much as possible. Where possible, feel free to answer using bullet points. Be sure to read the questions carefully and answer them completely. There are no trick questions, but a big mistake students often make is to fail to actually answer the question that is asked.

1. Using ambient scents OR environmental music in a retail environment, explain the S-O-R model of environmental psychology. How does it work? Name at least one of the keys to making sure use of scent will work to a retailer’s benefit?

2. Briefly detail the basic information processing model discussed in class (you do not need to define each of the steps). Make sure you say what is meant by the upside down triangle regarding this model. Also, how could this model be used to justify marketing expenses?

3. What is the basic idea behind the term “mere ownership” as discussed in class?

4. What is a compensatory decision rule? What is a noncompensatory decision rule? Give a personal example of how you can use each in the decisions you make, or might make in the future.

5. Provide a brief summary of the main concepts detailed in a chapter from Cialdini (one you did not present in class). Now, describe how this influence strategy works in your own life.

6. The graph below depicts the results of the unit pricing study we talked about in class. Please describe in words the nature of this effect. (Be specific and clear).

7. Tell me more about basic consumer decision making.

• Below is the basic process a consumer follows when making a decision?

Please provide a brief description of each step.

• List and discuss 3 factors that influence the extent of problem solving.

• Discuss how a manager can use this model to influence how consumers make a decision.