MKTG 315 Chapter Notes - Chapter 13: Bounded Rationality, Rationality, Conjoint Analysis
Document Summary
Book notes: chapter 13: decision making ii: alternative evaluation and choice. Determinant criteria: criteria that are most carefully considered and directly related to the actual choice that is made, called determinant attributes, depend largely on the situation in which a product is consumed. Value and alternative evaluation: criteria used by consumers when evaluating a product, hedonic criteria, emotional, symbolic, and subjective attributes or benefits that are associated with an alternative, utilitarian criteria, functional or economic aspects associated with an alternative. Affect-based evaluation: evaluative process wherein consumers evaluate products based on the overall feeling evoked by the alternative, emotions and mood states play a key role, consumers seek variety in order to combat feelings of boredom. Attribute-based evaluation: alternatives are evaluated across a set of attributes that are considered relevant to the purchase situation, rational decision-making process assumes that, consumers are careful while integrating information about product attributes and making comparisons between products.
