Chapter 3. Consumer Theories and Models Discussion Questions

1. Select one of the six main types of well-being and discuss how it impacts consumer behavior.
2. What do you think of prospect theory? Give an example of when you were uncertain but went ahead and made a consumption decision anyway. Describe the outcome (positive or negative) of the decision.
3. Give an example of a product that you were an innovator in (an early buyer) and an example of a product that you have been a laggard or in the late majority in buying. Describe why you were an early buyer in one case but a late buyer (or nonbuyer) in another.
4. According to Pamela Paul, "Americans want good quality and good value from good companies doing good things." Do you agree or disagree? Explain your answer. How does a declining economy affect consumers' behavior, especially their need for value?