Transcript Chapter 13 Decision Making II: Alternative Evaluation and
Chapter 13 Decision Making II: Alternative Evaluation and Choice
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Outcomes
• • Understand the difference between evaluative criteria and determinant criteria Comprehend how value affects the evaluation of alternatives © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Outcomes
• • Explain the importance of product categorization in the evaluation of alternatives process Distinguish between compensatory and noncompensatory rules that guide consumer choice © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Evaluative Criteria
• • • Attributes, features, or potential benefits that consumers consider when reviewing possible solutions to a problem Feature - Performance characteristic of an object Benefit - Perceived favorable result that is derived from the presence of a particular feature © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Determinant Criteria
• Determinant criteria - Evaluative criteria that are related to the actual choice that is made © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Value and Alternative Evaluation
• • • Hedonic criteria - Emotional, symbolic, and subjective attributes or benefits that are associated with an alternative Utilitarian criteria - Functional or economic aspects associated with an alternative Bounded rationality - Perfectly rational decisions are not always feasible due to constraints found in information processing © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Types of Evaluation Processes
•
Affect-based evaluation
– Evaluate products based on the overall feeling that is evoked by the alternative •
Attribute-based evaluation
– Evaluate alternatives across a set of attributes that are considered relevant to the purchase situation © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Product Categorization and Criteria Selection
• • Product categories - Mental representations of stored knowledge about groups of products Category levels – Superordinate – Subordinate © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Perceptual and Underlying ¬Attributes
• Perceptual attributes Visually apparent and easily recognizable • Underlying attributes Readily apparent and can only be learned through experience with the product – Signal - Characteristic that allows a consumer to diagnose something distinctive about an alternative © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Factors Determining Evaluative Criteria Used
Situational Influences Product Knowledge Expert Opinions Social Influences Online Sources Marketing Communications © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Issues That Affect Consumer Judgments
• • • • • Just noticeable difference Attribute correlation Quality perceptions Brand name associations Consumer personality © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Consumer Choice: Decision Rules
• 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 •
Noncompensatory
rules - Used, strict guidelines are set prior to selection, and any option that does not meet the specifications is eliminated from consideration © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Noncompensatory Models
Conjunctive Rule Disjunctive Rule Lexicographic Rule Elimination-by-aspects Rule (EBA)
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
© 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Retail Outlet Selection
• Several factors influence the choice of retail outlet including objective and subjective criteria such as: – Product variety – Store image – Location – Service – Product quality © 2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.