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Decision-Making II: Alternative Evaluation & Choice. Chapter 12. Evaluations of Alternative Choices. Evaluative criteria Feature Performance characteristic Benefit Results derived from that feature Determinant criteria. Value & Alternative Evaluation. Role of values

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Presentation Transcript
evaluations of alternative choices
Evaluations of Alternative Choices
  • Evaluative criteria
    • Feature
      • Performance characteristic
    • Benefit
      • Results derived from that feature
    • Determinant criteria
value alternative evaluation
Value & Alternative Evaluation
  • Role of values
    • Hedonic and utilitarian
  • Bounded rationality
  • Affect-based evaluation
  • Attribute-based evaluation
product categorization
Product Categorization
  • Consumers gather information, and must try to organize it
  • Product categories
    • Category levels
      • Various categories
      • Superordinate v. subordinate
      • Perceptual v. underlying
      • Signal
criteria selection
Criteria Selection
  • What determines what evaluative criteria are used?
    • Situational influencers
    • Product knowledge
    • Expert opinions
    • Social influencers
    • Online sources
    • Market communications
criteria selection6
Criteria Selection
  • Are Consumers Accurate in their Assessment?
    • Judgments
    • Issues that affect judgments
      • Just noticeable difference
        • Brand variants
      • Attribute correlation
      • Quality perceptions
        • Objective
        • Perceived
      • Brand name
criteria selection7
Criteria Selection
  • How many criteria are necessary?
    • 10 products & 15 attributes
  • What if missing information?
  • How to decide what criteria to use?
consumer choice
Consumer Choice
  • Decision Rules
    • Compensatory rules
    • Noncompensatory rules
      • Conjunctive
      • Disjunctive
      • Lexicographic
      • Elimination-by-aspects
    • Usage
    • Retail outlet selection
      • Trends