MRKT 452 Lecture Notes - Lecture 2: Availability Heuristic, Store Brand, Profit Margin
19 Feb 2018
School
Department
Course
Professor
Document Summary
Choice heuristics: rules, buy product i bought last time, on sale *used in grocery store (if x then buy. Vivid (easy recalled) information is more important than less vivid info for risk/probability judgements. One long ling that separates into small or small in the beginning. Satisfaction point of view: one line system has constant system, people like movement, makes others think that something is happening. Canadians (vividness of low value, coins are smaller) Credit cards: difficult to visualize loss = more spending. Cash: easy to visualize loss = less spending. Short and wide drink amount looks less but is actually more. Vivid info considered more true than less vivid info. Dependable association store brand is assumed to be dependable of national brand, association comes to mind. Packaging with different colors to represent different things. Don"t miss out first 20 articles are free giving something up is physiologically hard. Videotron 39. 99 (anchoring, low price) for first four months (framing)
