Decision Makimg Part II

Question 1

What are evaluative criteria?

Answer 1

Evaluative criteria are the attributes that consumers consider when reviewing alternative solutions to a problem.

Question 2

What is the difference between evaluative criteria and determinant criteria?

Answer 2

Determinant criteria are the criteria that are most carefully considered and directly related to the actual choice that is made.

Question 3

What role do benefits play in the value equation?

Answer 3

Benefits represent ‘what you get’ in the value equation and are at the heart of the value equation.

Question 4

What is hyperchoice?

Answer 4

Hyperchoice refers to a situation where multiple alternatives are available.

Question 5

What are hedonic criteria?

Answer 5

Hedonic criteria include emotional, symbolic, and subjective attributes or benefits associated with an alternative.

Question 6

What are utilitarian criteria?

Answer 6

Utilitarian criteria pertain to functional or economic aspects associated with an alternative.

Question 7

What is bounded rationality?

Answer 7

Bounded rationality is the idea that consumers attempt to act rationally within their information processing constraints.

Question 8

What is affect-based evaluation?

Answer 8

Affect-based evaluation is the process where consumers evaluate products based on the overall feeling evoked by the alternative.

Question 9

What is attribute-based evaluation?

Answer 9

Attribute-based evaluation is the process where alternatives are evaluated across a set of attributes considered relevant to the purchase situation.

Question 10

What are product categories?

Answer 10

Product categories are the mental representations of stored knowledge about groups of products.

Question 11

What are superordinate categories?

Answer 11

Superordinate categories are abstract in nature and represent the highest level of categorization.

Question 12

What are subordinate categories?

Answer 12

Subordinate categories are more detailed and involve examining the knowledge stored about various options.

Question 13

What are perceptual attributes?

Answer 13

Perceptual attributes are visually apparent and easily recognizable attributes.

Question 14

What are underlying attributes?

Answer 14

Underlying attributes are not readily apparent and can be learned only through experience or contact with the product.

Question 15

What factors influence the type of evaluative criteria consumers use?

Answer 15

Factors include situational influences, expert opinions, product knowledge, online sources, social influences, and marketing communications.

Question 16

What is the just noticeable difference?

Answer 16

Just noticeable difference represents how likely it is consumers will perceive the difference between products.

Question 17

How many criteria are necessary to evaluate alternatives effectively?

Answer 17

Research suggests that consumers can evaluate as many as 10 product alternatives and 15 attributes before overload occurs.

Question 18

What is the innuendo effect?

Answer 18

The innuendo effect occurs when consumers jump to negative conclusions about service providers who lack desired information.

Question 19

What is conjoint analysis?

Answer 19

Conjoint analysis is a technique used to develop an understanding of the attributes that guide consumer preferences by comparing product preferences across varying levels of evaluative criteria.