Part 10 JUDGMENT AND DECISION MAKING: HIGH CONSUMER EFFORT

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A General Model of Consumer Problem Solving. . . . . . . . . Issue Recognition. Look for Information. Assessment of Alternatives . Decision. Buy. Postpurchase Use and Reevaluation. . . . . . . Section Overview. JudgmentThought-based (psychological) choice makingFour sorts of choice processesFeeling-based (full of feeling) choice makingDecisions when correlation of choices is

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´╗┐Part 10 JUDGMENT AND DECISION MAKING: HIGH CONSUMER EFFORT

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A General Model of Consumer Problem Solving Problem Recognition Search for Information Evaluation of Alternatives Choice Decision Purchase Postpurchase Use and Reevaluation

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Chapter Overview Judgment Thought-based (psychological) basic leadership Four sorts of choice procedures Feeling-based (full of feeling) basic leadership Decisions when examination of choices is troublesome How setting impacts choices Framing

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Judgments versus Choices Evaluations; genuine decision between choices not settled on Judgments Choice between options; situated to some degree on judgments Decisions

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Decision-Making Issues "Normal" choice criteria choices well thoroughly considered; choices thought about cost versus advantage Emotional bases how does every alternative make you feel? One charge card offers a low loan cost, however another has a service agreement. The American Express card make me feel fruitful!

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Cognitive Decision Making (High Effort) Compensatory versus non-compensatory models Brand versus property based preparing "I got a F in Calculus. Who cares- - I got An in introduction to golf!"

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Types of Decision Models Compensatory Noncompensatory Processing by Brand Processing by Attribute Multi-trait (e.g. TORA) Conjunctive Disjunctive Additive Difference Lexicographic Elimination by viewpoints

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Compensatory/Attribute Processing Models Additive Difference Models brands looked at by quality, two at any given moment contrasts included as leader continues by property; e.g.: Brand A Brand B Difference Attribute 1 3 4 -1 Attribute 2 4 2 2 Attribute 3 6 4 2 - - - - TOTAL (A versus B) +3

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Noncompensatory Brand Processing Models Conjunctive models adequacy shorts (essentials) set for each trait "AND" govern Disjunctive model set elevated requirements for characteristics "OR" lead

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Noncompensatory Attribute Processing Models Lexicographic Model Attributes requested by significance Stop when one decision rules Elimination by perspectives Attributes requested by significance Stop when just a single choice remains

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ALL ALTERNATIVES SURVIVING ALTERNATIVES Reality of Consumer Decision Making Consumers may utilize different basic leadership systems

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Group Application Exercise: Cognitive Decision Making Get into gatherings of 3-5. You will be appointed ONE of the 3 basic leadership approaches demonstrated as follows. (1)Noncompensatory/Processing by brand (2)Noncompensatory/Processing by quality (3)Compensatory/Processing by trait Write a situation indicating how your intellectual basic leadership approach could be connected to choosing what school to go to.

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Marketing Implications Product D Product P Cut-off Levels for Product Design Rank request of Attributes Encourage Switching between choice models

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High-Effort Feeling-Based Decisions Common for offerings with hedonic, typical, or stylish properties Is every now and again consolidated with psychological preparing

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Deciding Between Non-Comparable Alternatives Alternative-based system general assessment of every choice Attribute-based methodology theoretical assessment of options for every choice

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Consumer qualities inspiration to process capacity to process chance to process Task attributes thought set accessibility of information Framing by the buyer outside surrounding Decision-Making Context

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Chapter 10 Review Judgment Rational Decision Making Compensatory versus Noncompensatory Processing by Brand versus Handling by Attribute Affective Decision Making Deciding When Alternatives Can't Easily be Compared Influence of Context on Decision Making

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