Customer Decision Making 7.3

Match the following

• Recognition Heuristic

• give most importance to the first bit of information we received regardless further information we gather

• Availability heuristics

• decision were made based on one single 'good' reason only

• Anchoring

• familiarity with one brand make us assume that has more value.

• Representativeness heuristics

• mental shortcut which make judgements by making comparisons with the best-known example of a category

• Take the best heuristic

• mental shortcut based on how easy it is to bring something to mind

A person is going to buy a car but he thinks that milage has more value of importance compared to the colour of the car. What strategy of decision making is this?

• Frequency of good and bad features

• Equal weight strategy

• Satisficing

• Weighted additive strategy

Model of consumer decision making which is a good predictor of consumer behavior and more representative is .....

• Satisficing theory

• Prospect Theory

• Utility Theory

• Compensatory Theory

A person wants to buy a computer, he likes the model and colour of this one type, but the processor is not very up to date. He thinks that the colour variable is equally important as the processor. What strategy is this?

• Lexigraphic

• Weighted Additive Strategy

• Satisficing

• Equal weight strategy

If a person considers the most important attribute and if one item is considered superior in terms of this attribute, the decision making process is abruptly stopped.

• Lexigraphic

• Elimination

• Frequency of good and bad features

• Majority of Conforming Dimension

There are at least two variables affecting our decision making at point of purchase, those are .... and......

• single unit price

• hypnotic selling

• suggestive selling

• multiple unit price

Match the following decision making style

• Rational

• Make decision that feels right

• Dependent

• making decision in a logical way

• Spontaneous

• consulting others and rely on their assistance

• intuitive

• putting off decisions until last minute

• Avoiding

• making quick and impulsive decision

When consumers forget the ads they saw because of the new ads they saw afterwards

• retrospective interference

• proactive interference

• retroactive interference

• prospective interference

These are weaknesses of Jedetski's study about decision making strategy applied to internet shopping, except...

• Lack of ecological validity due to participants were given definitions to study prior to the experiment

• There is order effect due to the experiment design

• They were compared not with themselves but with other group of participants

• Possibility of social desirability/ as the participants were given terms to study prior the experiment