Exchange Rate Forecasting IP
February 24, 2021
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February 24, 2021

Discussion questions

Answer all parts separately, each part has to be answered as a summary of 250-300 words. If you use some other sources as a reference use in-text citations and list the references as well.

Part # 1: Situational Influences


We’re barraged with marketers trying to influence us every moment we’re awake it seems.

Many factors can change how we perceive the message being delivered to us.

It’s hard to control every factor that encompasses the situation where a potential purchase may be made.


What are the four types of SITUATIONAL INFLUENCE?

Think of a purchase you’ve made in each scenario and share what the situation was, what you purchased and why.

How does the situation relate to the consumer and the stimulus of the message?

Part # 2: Decision Making


Figure 14-1 from this week’s reading demonstrates the decision making process in terms of normal, limited and extended decision making.


Describe a situation where you made a purchase from a normal decision making standpoint.

Describe a situation where you made a purchase from a limited decision making standpoint.

Describe a situation where you made a purchase from an extended decision making standpoint.

Which situation cost you more money?

What’s the longest it’s taken you to make a purchase decision?

Part # 3: Decisions


Whether we realize it or not we all go through a process when making a purchase decision.

Figure 15-1 from this week’s reading outlines our purchase decision process.


Outline a recent purchase and identify what criteria you evaluated.

What solutions existed?

How did you determine the performance of each option?

Did you make a decision or keep searching?

Part # 4: Alternative Choices


When we buy most products we’re typically weighing various products with varying pricing and options. I’ve stood and stared at prices thinking what’s the difference between these products. I’ve also seen the obvious differences in products and had my decision made easier for me based on the quality of the products.


When you buy products how many products do you typically evaluate?

What’s the most number of products you’ve compared when making a purchase?

What’s the most expensive purchase you’ve made where you didn’t consider an alternative product?

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