Karteikarten
Decision making & Decision rules
Karten in diesem Stapel (18)
- 1What are decision rules?Processes used by consumers to make decisions in different situations
- 2What are Non-compensatory rules?Choice shortcuts where a product with a low standing on one attribute can NOT make up for it with a high standing on another
- 3What are Compensatory rules?Choice shortcuts where poor performance on one attribute can be compensated by quality performance on others
- 4What are the 3 Non-compensatory decision rules?Lexicographic rule, Elimination by aspects rule, Conjunctive rule
- 5Define Lexicographic rule?the product that is best on the most important aspect selected
- 6Define Elimination by aspects rule?Products are eliminated based on specific cut-offs
- 7Define conjunctive rule?the brand is selected if it meets all of the cut-offs
- 8What are the 2 Compensatory decision rules?Simple additive rule & Weighted additive rule
- 9Simple additive rule:consumer chooses the alternative with the greatest number of positive attributes.
- 10Weighted additive rule:consumer takes into account the relative importance of positively rated attributes and multiplies ratings by importance before adding up.
- 11What is Mental accounting?process in which decisions are influenced by:
• the way the problem is posed ( framing),
• whether it is put in the terms of gain or loss. - 12What is the sunk-cost fallacy?Where having paid for something makes a consumer reluctant to waste it.
- 13Loss aversion =people place more emphasis on the loss than any gains.
- 14Prospect theory –Risk differs when the consumer faces option of gains versus
losses. - 15Define ethnocentrismpreferring products from one's own culture over those of other countries
- 165 steps of the decision process- Problem recognition
- information search
- evaluation of alternatives
- product choice
-outcomes - 17What does the Emotion As Social Information model explain?how others use our emotions to make decisions and judgements
- 18People are influenced emotionally in one of two ways?Inferential processes
& Affective responses
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- Karteikarten am Decision making & Decision rules, erstellt von Ash Andrew am 05/02/2015.
- Erstellt von
- Ash Andrew
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