When
noncompensatory rules are used
, strict guidelines are set prior to selection, and any option that does not meet the specifications is eliminated from consideration. 47. A consumer who wants to buy only a black-colored handbag regardless of the brand is employing a compensatory rule.
Which type of analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives?
Conjoint analysis
is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives.
Which type of decision rule allows consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute?
44.
Compensatory rules
allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute.
In which type of evaluation process are alternatives evaluated across a set of attributes that are considered relevant to the purchase situation?
Terms in this set (7)
-Affect based evaluation: consumers evaluate products based on the overall feeling that is evoked by the alternative. … –
Attribute- based evaluation
: evaluated across a set of attributes that are considered relevant to the purchase situation.
When consumers view a purchase as coming in the distant future they are more sensitive to the negative role of price?
When consumers view a purchase as coming in the distant future, they are more sensitive to the negative role of price.
Reward cards
can be a successful method of rewarding loyalty even if consumers do not particularly value the product.
Which type of decision rules have strict guidelines set prior to selection?
| Term Evaluative criteria Definition Attributes that consumers consider when reviewing alternative solutions to a problem | Term Noncompensatory rule Definition Decision rule in which strict guidelines are set prior to selection and any option that does not meet the guidelines is eliminated from consideration |
|---|
Which of the following represents the perceived overall goodness or badness of some product from a consumer perspective?
Quality
represents the perceived overall goodness or badness of a product. 46.
Do consumers pay more attention to features or benefits?
When consumers evaluate alternatives features and benefits are the first things that will make one product more attractive than the other;
Consumers pay more attention to benefits
; Benefits can be hedonic if they provide are emotional or if is more of an experiential benefits and utilitarian benefits are ones that …
Which is a decision rule that allows consumers to select products that perform poorly on one criterion?
Compensatory rules
allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute.
What are evaluative criteria and on what characteristics can they vary?
Evaluative criteria are the various dimensions, features, or benefits a consumer
looks for in response to a problem
. They can vary in terms of type (objectively specified vs. subjectively), number (normally less than six are used), and importance (usually one or two are much more important to a consumer).
What is the lexicographic rule?
According to the lexicographic decision rule, a
decision alternative is better than another alternative if
and only if it is better than the other alternative in the most important attribute on which the two alternatives differ.
What is compensatory rule?
Definition. In evaluating alternatives, the compensatory rule
suggests that a consumer will select the alternative with the highest overall evaluation on a set of choice criteria
.
What is a non compensatory strategy?
A noncompensatory decision-making strategy
eliminates alternatives that do not meet a particular criterion
. A compensatory decision-making strategy weighs the positive and negative attributes of the considered alternatives and allows for positive attributes to compensate for the negative ones.
Which of the following is an example of a final consumer?
An example of a final consumer?
You buy a soft drink at a local grocery and drink it on the way home
. When a purchase has been made, the consumer decision-making process has been completed. You cannot implement the marketing concept without understanding customers.
Which of the following is the first step in the decision-making process?
The first step in decision making process is
the clear identification of opportunities or the diagnosis of problems that require a decision
. Objectives reflect the results the organization wants to attain. Objective is the desired result to be attained when making decisions.
Which of the following is true of the consumer decision-making process?
Which of the following is true of the consumer decision-making process?
Both utilitarian value and hedonic value
are associated with consumer decision making. … The term _____ is used to refer to the product attributes that consumers consider when reviewing possible solutions to a problem.
