involves making a selection among options or activities.

(a)  

is the determination of the probability that something will occur.

(a)  

reflect our evaluation of the desirability of the offering's features.

(a)  

is use to categorize spending and saving decisions into “accounts” we mentally designate for specific consumption transactions, goals, or situations.

(a)  

suggests that the intensity of the positive or negative feeling associated with each "account" is another important influence on buying behaviour.

(a)  

Give 5 biases in judgement processes

(a)  

they will focus more on judgments that confirm what they already believe and will hold those judgments with more confidence.

(a)  

Consumers can make judgments about the extent to which they or others are vulnerable to having bad things happen to them (e.g., contracting ATDS, getting into an automobile accident). when making these judgments about the likelihood that bad outcomes will happen.

(a)  

Consumers give negative information more weight than positive information when they are forming judgments.

(a)  

First, your mood can serve as the initial anchor for a judgment. If you are in a good mood when browsing a menu, you will probably respond positively to new items you might try.

(a)  

When consumers judge a brand to be good based on their past exposure to it, they may subsequently fail to learn (and view as important) information about the brands attributes that affect its actual quality.

(a)  

Customers learn from their previous experiences, which can be helpful but may also bias judgments during future decisions Imagine you are customizing a product

(a)  

When comparing various prices or discounts, the case or difficulty of calculating the difference will affect consumers judgment of the size of these differences

(a)  

Give 4 Types of Decisions that consumer Face in High Effort Situations

(a)  

(those that are unacceptable)

(a)  

(those they treat with indifference)

(a)  

(those they want to choose among)

(a)  

clearly affect the criteria that will drive a consumer’s choice.

(a)  

The timing of a decision also affects which criteria drive our choices.

(a)  

The way in which the task is defined or represented, decision framing, can affect howi mportant a criterion is to our choice,

(a)  

give all the 3 DECIDING WHICH CRITERIA ARE IMPORTANT TO THE CHOICE:

(a)  

describe how consumers systematically use information about attributes to reach a decision.

(a)  

Researchers also recognize that consumers may make decisions on the basis of feelings or emotions

(a)  

describe the processes by which consumers combine information about attributes to reach a decision in a rational, systematic manner

(a)  

consumers evaluate how good each of the attributes of the brands in their consideration set is (i.e., they make judgments about goodness and badness) and weight them in terms of how important the attributes are to their decisions.

(a)  

consumers use negative information to evaluate brands and immediately eliminate from the consideration set those that are inadequate on any one or more important attribute.

(a)  

In making a decision, consumers may evaluate one brand at a time.

(a)  

consumers set up minimum cutoffs for each attribute that represent the absolute lower value they are willing to accept.

(a)  

The consumer sets up acceptable levels for the cutoffs-levels that are more desirable

(a)  

occurs when consumers compare across brands one attribute at a time, such as comparing each brand on price.

(a)  

brands are compared by attribute, two brands at a time.

(a)  

consumers order attributes in terms of importance and compare the options one attribute at a time, starting with the most important.

(a)  

is similar to the lexicographic model but incorporates the notion of an acceptable cutoff. This model is not as strict as the lexicographic model, and more attributes are likely to be considered. Consumer’s first order attributes in terms of importance and then compares options on the most important attribute. Those options below the cutoff are eliminated, and the consumer continues the process until only one option remains.

(a)  

when asked to set a price for an item to be exchanged sellers typically ask for a much higher price (because they are experiencing a loss of the item or because they perceive selling as a self-threat) than buyers are willing to pay (gaining the item). This has been called the (a)   Because ownership increases the value (and loss) associated with an item.

Give 4 of CONSUMER CHARACTERISTICS

(a)  

Consumers tend to exhibit (a)   , meaning that options for a particular attribute that are perceived as extreme will seem less attractive than those perceived as intermediate.

According to the (a)   a brand will gain share when it is seen as the intermediate or compromise choice rather than as an extreme choice.

consumers prefer a brand with attributes that score equally well on certain criteria more than a brand that has unequal scores across attributes, a phenomenon known as (a)  

These are factors based on our decision-processing experience, such as how easy it is to recall information in memory and to form thoughts as well as how easy it is to process new information.

(a)  

Give all 3 characteristics of the decision

(a)  

The amount, quality, and format of the information can affect the decision-making strategy that consumers use. When a consumer has more information, the decision becomes more complex, and the consumer must use a more detailed decision-making strategy, such as the multi attribute choice strategy

(a)  

The format of the information-the way that it is organized or presented in the external environment-can also influence the decision strategy that consumers use

(a)  

Consumers sometimes finalize decisions by looking at (a)   . For example, if three brands in the consideration set are perceived as equivalent with the exception that one contains a trivial attribute, the consumer is likely to choose the brand with the trivial attribute (arguing that its presence may be useful).

Consumers’ decisions can be affected by the presence of other people, or even a relationship with someone else

(a)  

Three types of individual group goals:

(a)  

Consumers seek to convey a certain image through the decisions they make in a group context. When consumers want to use unique choices as positive self-presentation cues or to express their individuality, the result will be variety seeking at the group level.

(a)  

Consumers who are risk averse and want to minimize regret will tend to make choices that are similar to those made by the rest of the group, leading to uniformity at the group level.

(a)  

Consumers can learn more about the different choices each has made through interaction with other group members.

(a)  

When MAO is low, individuals are motivated to simplify the cognitive process by using heuristics, or rules of thumb, to reduce the effort involved in making judgements.

(a)  

One way that consumer can make simple estimations or a judgment is to make comparisons with the category prototype or exemplar. This categorization process is called the (a)  

Judgments can also be influenced by the case with which instances of an event can be brought to mind, a short cut called the (a)   . Consumers are more likely to recall more accessible or more vivid events, a tendency that influences their judgments-even though they may be unaware of this effect

In some low-effort situations, consumers may make a decision without being consciously aware of how or why they are doing so.

(a)  

views behavior as a function of previous actions and of the reinforcements or punishments obtained from these actions

(a)  

To understand low-elaboration decision making, marketers need to know how consumers learn to apply choice tactics.

(a)  

usually comes from a feeling of satisfaction that occurs when we as consumers perceive that our needs have been adequately met.

(a)  

occurs when consumers can have a bad experience with a product or service, form a negative evaluation of it, and never purchase it again

(a)  

is when consumers learn when the same act is repeatedly reinforced or punished over time.

(a)  

category that we are considering. For example, we might be brand loyal to Heinz ketchup but always buy the cheapest trash bags.

(a)  

Give 4 of Low-Effort Thought-Based Decision-Making

(a)  

Tactics based on benefits, features or evaluation of the brand.

(a)  

a learned behavior that involves regular performance of the same act repeatedly overtime.

(a)  

buying the same brand repeatedly because of strong preference for it.

(a)  

simplifying decision heuristics that are based on price.

(a)  

low elaboration decision-making that is based on others’ opinions

(a)  

3 uses of this tactic can result:

(a)  

in which others try to manipulate us

(a)  

in which we observe others to guide our behavior

(a)  

in which we are concerned about the opinions of others.

(a)  

Give 3 of Low-Effort Feeling-Based Decision-Making

(a)  

tactics based on feelings

(a)  

a simple type of affective tactic whereby we simply remember our feelings for the product or service

(a)  

easy recognition of a well known brand.

(a)  

an arrangement by which the two brands form a partnership to benefit from the power of both.

(a)  

trying something different

(a)  

an unexpected purchase based on a strong feeling.

(a)  

Give 3 of Impulse purchase is characterized into:

(a)  

is most likely to occur when more than one alternative is attractive and the decision is important.

(a)  

occurs when consumers perceive an unfavorable comparison between the performance of the chosen option and the performance of the options not chosen.

(a)  

is a belief or expectation about some future event or state.

(a)  

Give 3 of WHAT AFFECTS LEARNING?

(a)  

When consumers are motivated to process information, they will generate a number of hypotheses and seek out information to test them, actively engaging in the process of learning from experience.

(a)  

Consumers (a)   affects the extend which they learn from experience. When knowledge high, consumers ate likely to have well-defined beliefs and expectations and are therefore less likely to generate hypotheses

Some situations do not readily provide the opportunity to learn from experience, even when consumers have well-formed hypotheses.

(a)  

Confirmation bias and overconfidence can pose major hurdles to the learning process, particularly when evidence is ambiguous.

(a)  

when consumer expectations are confirmed (needs are met) or even exceeded

(a)  

when consumer expectations are disconfirmed (needs are not met)

(a)  

Give 2 of SATISFACTION/DISSATISFACTION BASED ON THOUGHTS Thought-based judgments of satisfaction/dissatisfaction can relate to:

(a)  

occurs when there is a discrepancy, positive or negative, between our prior expectations and the product’s actual performance.

(a)  

indicates whether the expected outcomes have been achieved

(a)  

describes how individuals think about explanations for or causes of effects or behavior.

(a)  

Is the problem consumer or marketer related

(a)  

Is the event under the customer’s or marketer's control?

(a)  

Is the cause of the event temporary or permanent

(a)  

concerns the nature of exchanges between individuals and their perceptions of these exchanges. In marketing it has been applied to examining the exchange between a buyer and a seller or a more general institution

(a)  

Give 2 of SATISFACTION/DISSATISFACTION BASED ON FEELINGS

(a)  

give 3 of Specifically, dissatisfied consumers can:

(a)  

Dissatisfied consumers are more likely to complain when the perceived cause of their dissatisfaction is:

(a)  

3 Types of complainers:

(a)  

are the least likely to complain.

(a)  

are likely to complain directly to the retailer or service provider rates are angry consumers who are most likely to engage in negative word of mouth, stop buying patronage, and complain to the provider but not to a third party such as the media or government.

(a)  

engage heavily in all types of complaining including to a third party. Activists can now reach thousands of people by posting negative comments on blogs on websites, or on social media such as Twitter.

(a)  

Companies should pay close attention to four customer characteristics when preparing complaint-resolution policies and practices:

(a)  

If customers are dissatisfied, marketers need to find ways of making up for this dissatisfaction to win back the customer business

(a)  

When consumers are dissatisfied with a product or service, they are often motivated to tell others in order to relieve their frustration and to convince others not to purchase the product or to do business with the company

(a)  

(a)   is more likely to occur when consumers perceive that the company is at fault, the problem is severe, and when they are unhappy with the company's responsiveness

Marketers should strive for (a)   the practice of working to satisfy customers with the intention of developing long-term relationships with them.

Businesses have to work especially hard to reassure and retain customer after a crisis in which a product or service has harmed people.

(a)  

Give 4 Steps to retain customers:

(a)  

At the most basic level, disposition or disposal is the getting rid of meaningless or used-up items or what is left of them (e.g. packaging).

(a)  

2 types of disposition

(a)  

Because of concerns about conserving natural resources, studying disposition behaviors can provide valuable insights for the development of recycling programs

(a)  

Consumers are more likely to recycle when they perceive that the benefits outweigh the costs, including money, time, and effort.

(a)  

Consumers who know how to recycle are more likely to do so than those who do not

(a)  

If separating, storing, and removing recyclable materials is difficult or inconvenient, consumers will usually avoid doing so.

(a)