MKT 302_ch. 13 notes
MKT 302_ch. 13 notes MKT 3020
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This 5 page Class Notes was uploaded by Allie S on Wednesday April 13, 2016. The Class Notes belongs to MKT 3020 at Clemson University taught by Dr. Siemens in Winter 2016. Since its upload, it has received 17 views. For similar materials see Consumer Behavior in Marketing at Clemson University.
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Date Created: 04/13/16
04/10/2016 ▯ Chapter 13: Decision Making 2: Alternative Evaluation and Choice ▯ ▯ Evaluative Criteria =The attributes, features, or potential benefits that consumers consider when reviewing possible solutions to a problem. How we narrow choices o Specific to the individual ▯ Features vs. Benefits Consumers are “sold” on benefits, not features Feature is what you are selling; benefits are what a consumer is looking for o Know desired benefits/feature relationship o Marketers need to explain the feature’s relationship with the derived benefits Get different benefits based on specific needs Ex: Toaster o Features: extra wide slot, comes in variety of colors, 4 slots o Benefits: dependent on the customer Customer 1: painting her kitchen blue – comes in a variety color feature = benefit of matching/coordinating Customer 2: Bagel Eater – extra wide slot feature = benefit of bagels fitting in the toaster ▯ ▯ Determinant Criteria – evaluative criteria that is related to actual choice Criteria that determines choice Marketers need to know what determinant criteria is for their customers o Do consumer research to figure out new benefits/features need o Influence determinant criteria via advertisements Showcase shat we do well as being super important criteria ▯ ▯ Value and Alternative Evaluation ▯ What is “bounded rationality”? Perfectly rational decisions are not always feasible due to constraint found in information processing o Rely on heuristics, overweigh recommendations, exhibit brand loyalty ▯ Types of Evaluation Processes: ▯ Affect based- evaluations based on feelings evoked Spa, vacation/souvenirs, perfume ▯ ▯ Attribute based- evaluations based across set of relevant attributes High involvement, car, watch ▯ ▯ ▯ Product Categorization: Category levels 1. Superordinate level – a “rug” is a rug o Broad category in which all products in the same category are viewed as being the same 2. Subordinate – “doormat” vs. “Persian Rug” o More benefits evaluated ▯ ▯ Perceptual attributes- apparent to the consumer Easily seen/extracted o Price, flavor, derived from package, no experience necessary ▯ ▯ Underlying attributes- qualities of the experience Taste, texture, comfort, How you interact, need experience ▯ ▯ ▯ Factors that influence determining evaluative criteria: ▯ 1. Situational – environmental, time constraint, gift, ▯ ▯ 2. Product Knowledge – the greater the knowledge, the greater the likelihood you’ll use relevant criteria to evaluate ▯ ▯ 3. Social influence – especially if socially visible product, opinion of others ▯ ▯ 4. Expert opinion – market mavens, surrogate consumers, sales personnel ▯ ▯ 5. Online source – forums, product reviews ▯ ▯ 6. Market communications – marketers suggest criteria ▯ ▯ ▯ Consumer Judgment- mental assessments of the presence of attributes and the benefits associated with those attributes Perceptual attributes suggest underlying Marketed to suggest certain attributes exist within product o Consumer judgment is a judgment of how present those are ▯ ▯ What can brand name tell you about a product? Influences consumer judgment – builds association ▯ ▯ Consumer choice: Decision Rules ▯ ▯ 1. Compensatory Rules – compensates Allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute. ▯ ▯ 2. Noncompensatory Rules – strict deal-breaker guidelines Strict guidelines are set prior to selection, and any option that does not meet the specifications is eliminated from consideration. ▯ ▯ Three noncompensatory decision rules: ▯ 1) Conjunctive rule – minmum mental cut off point for features used reject product if it fails to meet min cutoff (min on ALL) o ALL meet min requirements, or none are accepted ▯ ▯ 2) Lexicographic rule – choose product that performs the best on most important feature Choose the best of the feature most important to the customer ▯ ▯ 3) Elimination by Aspects rule – establish min cutoff points for each attribute start with the most important feature and eliminate until 1 product is left ▯ ▯ ▯ Why does decision approach matter? ▯ 1. Compensatory approach – can emphasize good features, but downplay bad features ▯ ▯ 2. Need to know which are non compensatory features, if any ▯ ▯ 3. Need to know cutoff points for features ▯ ▯ 4. Who do we compete with? – evoked set ▯ ▯ ▯ ▯ ▯ ▯ ▯
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