week 3 Flashcards
what is Evaluative criteria
Attributes that consumers consider when reviewing alternative solutions to a problem
Feature: Performance characteristic of an object
Benefit: Perceived favorable results derived from a particular feature
Value = What you get (benefits) - What you give (costs)
what is Determinant criteria
Criteria that are most carefully considered and directly related to the actual choice that is made
Called determinant attributes
Depend largely on the situation in which a product is consumed
what Criteria is used by consumers when evaluating a product
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
what is bounded
Bounded rationality: Idea that consumers attempt to act rationally within their information-processing constraints
What happened to the effort a consumer puts in to alternative evaluation
Consumers minimize the effort that they put into alternative evaluation and choice
how does Attractiveness of alternatives impact satisfaction
Attractiveness of alternatives impacts satisfaction
More attractive alternatives reduce satisfaction with a selected product, while more unattractive ones increase the satisfaction
What are the two different types of evaluation
Affect-Based Evaluation
Evaluative process wherein consumers evaluate products based on the overall feeling evoked by the alternative
Emotions and mood states play a key role
Consumers seek variety in order to combat feelings of boredom
Attribute-Based Evaluation
Alternatives are evaluated across a set of attributes that are considered relevant to the purchase situation
Rational decision-making process assumes that:
Consumers are careful while integrating information about product attributes and making comparisons between products
explain the difference between super ordinance and sub ordinate categories
Superordinate
Abstract in nature
Represents the highest level of categorization
Subordinate
Detailed in nature
Consumers examine the knowledge that they have stored about various options
Evaluations are more relevant and meaningful
compare the Compensatory and Noncompensatory Rules
Compensatory rule
Allows consumers to select products that may perform poorly on one criterion by compensating for the poor performance by good performance on another
Noncompensatory rule
Strict guidelines are set prior to selection and any option that does not meet the guidelines is eliminated from consideration.
Conjunctive,
Disjunctive,
Lexicographic and
Elimination by Aspects
what is a product category
Product categories – the mental representations of stored knowledge about groups of products
When considering a new product, consumers rely on the knowledge they have regarding the relevant product category.
Even if a product is very different from products that are currently available, consumers still draw on existing category knowledge to guide their expectations and attitudes toward the new product.
what does schemata do
- Existing schemata allow consumers to provide meaning to objects.
- Within these schemata, both product categories and brand categories are found.
Conjunctive rule
Consumer sets a minimum mental cut-off point for various features and rejects products that do not meet or exceed this cut-off.
Assuming a minimum cut-off point of 5, use the conjunctive rule to determine the brand that will be selected
Disjunctive rule
Consumer sets a high mental cut-off point for various features and rejects products that do not meet or exceed this cut-off.
Assuming a minimum cut-off point of 10, use the disjunctive rule to determine the brand that will be selected.
Lexicographic rule
Consumer selects the product that scores highest on the most important attribute
Use the lexicographic rule to determine the brand that will be selected
Elimination by aspects (EBA)
Consumer sets a minimum cut-off point and works their way down the list of attributes based on importance.
Assuming a minimum cut-off point of 5, use the elimination-by-aspects rule (EBA) to determine the brand that will be selected
