All Free Management Sciences MCQs with Answers

• A. selective attention
• B. selective shopping
• C. selective ad watching
• D. selective noticing

Explanation: Selective attention is the tendency to notice information that seems relevant or expected while ignoring much of the surrounding…

• A. availability heuristic
• B. representative heuristic
• C. anchoring heuristic
• D. adjusting heuristic

Explanation: The availability heuristic bases a judgment on examples that are easily recalled, often because they are recent or vivid.

• A. long term memory
• B. short term memory
• C. permanent memory
• D. None of above

Explanation: Short-term memory is a limited-capacity, temporary store for information currently being processed.

• A. brand personality
• B. personality
• C. self-goals
• D. self-values

Explanation: Brand personality is the set of human characteristics consumers associate with a brand, such as being sincere, exciting, competent, or…

• A. social factors
• B. cultural factors
• C. personal factors
• D. all of the above

Explanation: Social, cultural, and personal influences all shape what consumers need, prefer, and buy.

• A. recognize problem
• B. evaluation of substitutes
• C. deciding information sources
• D. research dynamics

Explanation: Evaluation of substitutes means comparing the expected benefits of one product with competing market offerings before making a choice.

• A. social risk
• B. attitude risk
• C. psychological risk
• D. physiological risk

Explanation: Social risk is the fear that a product's failure or poor performance will cause embarrassment or reduce acceptance among family, friends…

• A. critical accounting
• B. decision accounting
• C. mental accounting
• D. geographical accounting

Explanation: Mental accounting describes how consumers mentally categorize and evaluate financial outcomes from purchases, such as treating savings…

• A. public sources
• B. media sources
• C. personal sources
• D. commercial sources

Explanation: Family members, friends, and acquaintances are personal sources because the information comes through direct social relationships.

• A. anchoring heuristic
• B. adjusting heuristic
• C. availability heuristic
• D. geographical heuristic

Explanation: The availability heuristic makes people judge likelihood from examples that are easy to recall, such as a memorable product failure…

• A. linking product to engaging issue
• B. linking product to personal situation
• C. triggering emotions to personal values
• D. adding an important feature

Explanation: Linking toothpaste with the important and engaging issue of avoiding cavities makes an otherwise routine product more personally relevant…

• A. segregate loss
• B. segregate gains
• C. integrate gains
• D. integrate loss

Explanation: Segregating gains means evaluating separate positive outcomes individually, which can make each benefit feel more rewarding.

• A. time constrained
• B. money constrained
• C. availability constrained
• D. geographical constrained

Explanation: Money-constrained consumers have limited financial resources, so they tend to favour lower-priced products or seek greater value for their…

• A. total set of brands
• B. brands awareness
• C. consideration set
• D. availability set

Explanation: Brand awareness is the consumer's ability to know, recognize, or recall a market offering or brand.

• A. physical risk
• B. functional risk
• C. financial risk
• D. social risk

Explanation: Functional risk is the fear that a product will not perform its intended function or meet expected performance standards.

• A. self-concept
• B. self-monitors
• C. ideal self-concept
• D. actual self-concept

Explanation: Self-monitors are especially alert to how other people perceive and evaluate them, so they adjust their behaviour or consumption…

• A. membership groups
• B. formal groups
• C. transaction group
• D. informal groups

Explanation: Family, friends, coworkers and neighbours are membership groups because the consumer belongs to or regularly interacts with them.

• A. word associations
• B. sentence associations
• C. Company associations
• D. brand associations

Explanation: Brand associations are the collection of thoughts, images, experiences and attitudes linked to a particular brand in the consumer’s…

• A. discounts
• B. lesser prices
• C. warranties
• D. low demands

Explanation: A warranty reduces uncertainty by assuring the customer that the seller will repair, replace or support the product if it fails to meet…

• A. elaboration route
• B. central cues
• C. value cues
• D. peripheral route

Explanation: The peripheral route changes attitudes through indirect cues such as brand associations, celebrity endorsements or packaging rather than…