Exam 10: Product Consideration, Evaluation, and Choice

Consumers very typically consider between 5 and 9 brands when making product purchase decisions.What concept helps best explain why this is so?

The simulation heuristic is most closely tied to similarity.

Adding a similar but inferior decoy product to a product line increases the attractiveness of the other products.This is known as the:

Tina is driving down Main Street in the town where she lives trying to decide where to eat lunch.Many of the restaurants are right on this street and she can see their signs.Others are nearby, but she can't see them- she has to recall them.What type of choice strategy is this? And, which type of restaurant is Tina more likely to choose­ one of the restaurants on Main Street or off Main Street?

The lexicographic heuristic involves setting a minimum acceptable cutoff level for each attribute and selecting the first alternative that meets the minimum standard for all attributes.

Reading the movie listing off a theatre's web site and trying to decide what movie to see is an example of:

Regression to the mean tells us that unusual events are usually followed by more typical events.