Mktg 367 Chapter 16

Front 1

What are the basic components of alternative evaluation?

Back 1

Evaluative criteria, importance of criteria, alternatives considered
{V}
Evaluation of alternatives on each criterion
{V}
Decision rules applied
{V}
Alternatives selected

Front 2

What is the rational choice theory?

Back 2

Choosing a product based on the maximization of value to him or her.

Front 3

Main task in rational choice theory?

Back 3

To identify or discover the one optimal choice for the decision facing the decision maker.

Front 4

Bounded Rationality

Back 4

A limited capacity for processing information.

Front 5

Affective Choice

Back 5

Choice based on the evaluation of a product generally focused on the way they will make the user feel as the product is used. More holistic in nature, based primarily on emotional response.

Front 6

Consummatory motives

Back 6

Underlie behaviors that are intrinsically rewarding to the individual involved. (read book for enjoyment)

Front 7

Instrumental motives

Back 7

Activate behaviors designed to achieve a second goal. (appear with book)

Front 8

Attribute-based choice

Back 8

requires the knowledge of specific attributes at the time the choice is made, and it involves attribute-by-attribute comparisons across brands. (laptop, shoe for marathon runner)

Front 9

Attitude-based choice

Back 9

Involves the use of general attitudes, summary impressions, intuitions, or heuristics; no attribute-by-attribute comparisons are made at the time of choice. (Credit card)

Front 10

Evaluative Criteria

Back 10

The various dimensions, features, or benefits a consumer looks for in response to a specific problem.

Front 11

What is the nature and role of Evaluative criteria?

Back 11

Evaluative criteria are typically product features or attributes associated with either benefits desired by consumer or the costs they must incur. Marketers emphasize the benefit the feature will provide not just the feature itself

Front 12

Can evaluative criteria differ in type, number, and importance?

Back 12

Yes, the type of evaluative criteria a consumer uses in a decision varies from tangible cost and performance features to intangible factors like style, taste, and prestige.

Front 13

What things need to be measured for evaluative criteria?

Back 13

-Which evaluative criteria are used by the consumer.
-How the consumer perceives the various alternatives on each criterion.
-The relative importance of each criterion.

Front 14

What is the direct method?

Back 14

Direct method include asking consumers what criteria they use in a particular purchase or, in a focus group setting, noting consumers opinions. Assumes consumer's can and will provide data on attributes.

Front 15

What is the indirect method?

Back 15

Assumes consumers will not or cannot state their evaluative criteria, hence use of projective techniques.

Front 16

Projective techniques

Back 16

A form of indirect methods that allow the respondent to indicate the criteria someone else might use.

Front 17

Perceptual Mapping

Back 17

Another indirect technique that generally involves the consumer first looking at possible pairs of brands and indicating which pair is most similar, which is second most similar, and so forth until all pairs are ranked.

Front 18

What are the implications of individual judgment for marketers?

Back 18

The inability of consumers to accurately evaluate many products can result in inappropriate purchases.

Front 19

Sensory Discrimination

Back 19

The ability of an individual to distinguish between similar stimuli.

Front 20

Just Noticeable Difference (j.n.d.)

Back 20

The minimum amount that one brand can differ from another with the difference still being noticed

Front 21

Surrogate indicators and their importance?

Back 21

An attribute used to stand for or indicate another attribute. Tend to operate more strongly when when consumers lack the expertise to make informed judgments on their own, when consumer motivation or interest in the decision is low, and when other quality-related info is lacking. Based on consumers' beliefs that two features go together or do not go together.

Front 22

Conjunctive Decision Rule

Back 22

Establishes minimum required performance standards for each evaluative criterion and selects the first or all brands that surpass these minimum standards.

Front 23

Compensatory Decision Rule

Back 23

States that the brand that rates the highest on the sum of the consumer's judgments of the relevant evaluative criteria will be chosen.

Front 24

Types of non-compensatory decision rules

Back 24

Lexicographic, EBA, Conjunctive, and Disjunctive

Front 25

What is simple additive and weighted additive?

Back 25

who knows..........

Front 26

Lexicographic Decision Rule

Back 26

Requires the consumer to rank the criteria in order of importance.

Front 27

Elimination-by-aspects decision rule (EBA)

Back 27

Requires the consumer to rank the evaluative criteria in terms of their importance and to establish a cutoff point for each criterion.

Front 28

Conjunctive Decision Rule

Back 28

Establishes minimum required performance standards for each evaluative criterion and selects the first or all brands that surpass these minimum standards.

Front 29

Disjunctive Decision Rule

Back 29

Establishes a minimum level of performance for each important attribute.