1 / 19

Chapter 13 Decision Making II: Alternative Evaluation and Choice

Chapter 13 Decision Making II: Alternative Evaluation and Choice. Learning Outcomes. Understand the difference between evaluative criteria and determinant criteria Comprehend how value affects the evaluation of alternatives. Learning Outcomes.

tadeo
Download Presentation

Chapter 13 Decision Making II: Alternative Evaluation and Choice

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 13Decision Making II: Alternative Evaluation and Choice

  2. Learning Outcomes • Understand the difference between evaluative criteria and determinant criteria • Comprehend how value affects the evaluation of alternatives

  3. Learning Outcomes • Explain the importance of product categorization in the evaluation of alternatives process • Distinguish between compensatory and noncompensatory rules that guide consumer choice

  4. 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

  5. Determinant Criteria • ­Determinant criteria- Evaluative criteria that are related to the actual choice that is made

  6. 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

  7. 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

  8. Product Categorization and Criteria Selection • Product categories- Mental representations of stored knowledge about groups of products • Category levels • Superordinate • Subordinate

  9. 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

  10. Factors Determining Evaluative Criteria Used

  11. Issues That Affect Consumer Judgments • Just noticeable difference • Attribute correlation • Quality perceptions • Brand name associations • Consumer personality

  12. 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

  13. Noncompensatory Models

  14. 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

More Related