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10 Cards in this Set
- Front
- Back
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Universal Set |
- All possible choices for a product category - Overwhelming - Limited time, cognitive capacity, motivation, etc. |
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Consideration Set |
- The subset of brands from which the consumer will actually choose. Derived from... Evoked Set: internal search, information stored in memory External Information Search Point-of-purchase- Situational; products and information available |
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What is the goal of marketers? |
- Make sure that they are in the consideration set - Make sure that they are evaluated favorably when compared to others |
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Part-List Cuing |
Marketers try to influence which and how many other brands are in the consideration set. -Providing a partial list of brands makes it more difficult to recall all brands from memory. -comparative advertising -retail environment |
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The Attraction Effect |
- Brand appears more attractive when compared to inferior brands and less attractive when compared to superior brands |
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The Compromise Effect |
A target brand appears more attractive when its viewed as a "good compromise". Compromise brands are seen as average on all important attributes. *Apple iphone |
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Define Consumer Choice |
Selecting one product or service from the set of possible choices (consideration set) -Information for evaluation comes from internal (memory) and external sources (stimulus) -Choice can be made by internal (memory) or external sources (stimulus). |
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Five types of Consumer Choice |
1. Memory-based choice: none of the considered brands are physically or directly observable (restaurant) 2. Stimulus- base choice: Consumer directly and physically observe all relevant brans in the consideration (beverage at grocery store) 3. Mixed Choice: consumers can see some brands but must remember others. 4. Attitude-based Choice: All info about a brand is combined into an overall evaluation (attitude) and stored in memory 5. Attribute-based Choice: Consumers compare the specific attributes or features of each brand. |
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Define Heuristics |
Heuristics are mental shortcuts that simplify decision making |
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Three General Types of Heuristics |
1.Persuasion Heuristics 2. Prediction Heuristics 3. Influence (choice) Heuristics |
