1 / 18

Chapter 8

Chapter 8. Judgment and Decision Making Based on High Consumer Effort. Learning Objectives~ Ch. 8. Distinguish between judgment and decision making, and indicate why both processes are important to marketers.

tao
Télécharger la présentation

Chapter 8

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 8 Judgment and Decision Making Based on High Consumer Effort

  2. Learning Objectives~ Ch. 8 • Distinguish between judgment and decision making, and indicate why both processes are important to marketers. • Explain how cognitive decision-making models differ from affective decision-making models and why marketers are interested in both types of models. • Identify the types of decisions faced by consumers in high-effort situations and discuss how marketers can try to influence these decisions. • Outline the ways that consumer characteristics, decision characteristics, and other people can influence high-effort decisions.

  3. High-Effort Judgment Processes • Estimation of likelihood • Goodness/badness • Anchoring/adjustment • Imagery • Conjunctive probability assessment • Illusory correlation

  4. Biases in Judgment Processes • Confirmation • Self-positivity—prime • Negativity • Mood • Prior brand evaluations What past brand experiences have biased your judgment about future brand consumption?

  5. High-Effort Consumer Decisions~1 • Deciding which brands to consider • There is a vast menu of choices that you must break down to possible choices • Consideration set (evoke set) • Deciding what is important to the choice • Goals • Time • Framing

  6. High-Effort Consumer Decisions~2 • Deciding what offerings to choose • Thought-based decisions • Brands • Product attributes • Gains & losses • Feeling-based decisions • Appraisals & feelings • Affective forecasts

  7. High-Effort Consumer Decisions~3 • Deciding whether to make a decision now • Decision delay • Deciding when alternatives cannot be compared

  8. High-Effort Decision Making Processes • Consideration set • Inept set • Inert set What are the differences among these sets?

  9. High-Effort Thought-Based Decisions • Cognitive decision-making models • Types of decision processes • Compensatory vs. noncompensatory • Brand vs. attribute • Compensatory brand-processing models • Additive difference model

  10. Brand Processing Models • Compensatory Models • Multiattribute models (Theory of Reasoned Action [TORA]) • Noncompensatory Models • Conjunctive model • Disjunctive model What is the main difference between compensatory and noncompensatory models?

  11. Noncompensatory Attribute Processing Models • Elimination by Aspects • Attributes ordered by importance; alternatives acceptable on first attribute proceed to evaluation on further attributes • I will eliminate any brands with a value of 3 or below, beginning with most important attribute • Note the “most important” attribute is up to the consumer (e.g., car safety, style, value/gas mileage, etc.)

  12. Decisions Based on Gains & Losses • Prospect theory • Losses have more influence than gains • Think-have you ever spent more on gas to “save” on a price? • Consumers have stronger reaction to price increases than price decreases • Endowment effect • Ownership increases value (& loss) associated with an item • This is why the 24 hour test drive of vehicles is often a success

  13. High-Effort Feeling-Based Decisions • Affective decision making: decisions are made in a more holistic manner on the basis of feelings or emotions • What is an example of an affective-based purchase that you have made? • Was it a good purchase in retrospect? Endowment effect

  14. Noncomparable Decisions • Noncomparable Decisions: process of making decisions about products or services from different categories (e.g., weekend entertainment) • Consumers use an alternative-based strategy OR an attribute-based strategy • Two main consumer strategies: • Alternative-Based (top-down processing): overall evaluation, may use pros & cons • Attribute-Based (bottom-up processing): consumers form abstract representations to help them compare options

  15. Contextual Effects on Consumer Decision Making • Consumer characteristics • Task characteristics • Task definition/framing • Presence of a group

  16. Consumer Characteristics Affecting Decision Making • Expertise • Mood • Time pressure • Extremeness aversion • Metacognitive experiences

  17. Task Characteristics Affecting Decision Making • Information availability • Information format • Trivial attributes

  18. Group Decision Making How does your consumer behavior/decisions change when you are alone vs. with: your friends? parents? • Individual-alone goals • Individual-group goals

More Related