Decisions Based On Product Attributes

Decisions based on Product Attributes Attribute processing which occurs when consumers compare across brands one attribute at a time, such as comparing each brand on price. According to additive difference model, brands are compared by attribute, two brands at a time. With the lexicographic model, consumers order attributes in terms of importance and compare the options one attribute at a time.

The elimination-by-aspects model is similar to lexicographic model but incorporates the notion of an acceptable cutoff.

Decisions based on Gains and Losses

Research shows that the decisions consumers make also depend on whether the consumer is motivated to seek gains or to avoid losses. According to prospect theory, losses loom larger than gains for consumers even when the two outcomes are of the same magnitude.

DECIDING WHAT BRAND TO CHOOSE: HIGH-EFFORT FEELING-BASED DECISIONS With affective decision making, consumers make a decision because the choice feels right rather than because they have made a detailed, systematic evaluation of offerings. • Appraisal and Feelings

Appraisal theory examines how our emotions are determined by the way that we think about or “appraise” the situation, a field being explored by many researchers.

• Affective Forecasts and Choices What Will I Feel?

How Much Will I Feel It?

How Long Will I Feel It?

• Valence (good or bad) • Nature of feeling (specific emotion on such as happiness, regret, guilt, shame)

• Intensity

• Duration

• Imagery

Consumers can attempt to imagine themselves consuming the product or service.

ADDITIONAL HIGH-EFFORT DECISIONS Consumers in high-effort situations face two more key decisions. First, should they delay the decision or make it right now? And second, how can they make a decision when the alternatives cannot be compared?

Decision Delay If consumers perceive the decision to be too risky or if it entails an unpleasant task, they may delay making a decision.

Decision Making When Alternatives Cannot Be Compared Consumers sometimes need to choose from a set of options that cannot be directly compared on the same attributes.