MKT 100 Lecture Notes - Lecture 51: Chocolate Chip, Decision Rule, Cappuccino

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

For example, a consumer looking to buy a new automobile might take into consideration things like selling price, gas mileage, safety features, and the reputation of the dealership"s service department. At times, however, it becomes diffi cult to evaluate different brands or stores because there are so many choices. Consumers utilize several shortcuts to simplify the potentially complicated decision process: determinant attributes and consumer decision rules. Morgan rejects the car simply on the basis of price. She rated the price of a toyota as 6 on the 10 point scale. That is, the strength of the good points does not compensate for its biggest weakness a high ticket price. Decision heuristics not everyone uses compensatory or noncompensatory decision rules. Some use decision heuristics, which are mental shortcuts that help a consumer narrow down his or her choices. Always buying brand name goods allows some consumers to feel safe with their choices.