Exam 13: Decision Making II: Alternative Evaluation and Choice

What type of attributes is not readily apparent and can be learned only through experience with the product?

Energy Bar Scenario Product nutrition labels provide considerable information for consumers. For example, a consumer deciding among the many brands of energy bars might compare three offerings: Clif Bar, Larabar, and ProBar. The most important attribute for this consumer is protein content, followed by calories, taste, sugar, price, and fat content. This consumer would like an energy bar with a high protein content but low in calories, sugar, fat, and price that also tastes good. Information is easily found on nutrition labels for all but the taste attribute. This information is summarized in the following table: Attributes in order of importance Clif Bar Larabar ProBar Protein 10 grams 5 grams 8 grams Calories 250 190 350 Taste ? ? ? Sugar 13 grams 17 grams 14 grams Price \ 1.13 \ 1.25 \ 2.50 Fat 2 grams 9 grams 8 grams -Refer to Energy Bar Scenario. Using the lexicographic rule, which energy bar would this consumer select?

Which of the following are the evaluative criteria that are related to the actual choice that is made?

Sometimes consumers will decide where they will buy before they determine what they will buy.

For Tesla Motors, what are aspects such as fuel efficiency, a network of Supercharger charging stations, software applications, and other Tesla performance characteristics examples?

Size, shape, colour, and price are absolute attributes.

When looking for a new refrigerator, Rebecca notices that one model has more drawers than the others. What has she noted during her evaluation process?

Perceptual attributes can easily be evaluated prior to the actual purchase. What is another term for perceptual attributes?

Bounded rationality describes the idea that perfectly rational decisions are not always feasible due to constraints found in information processing.

Which type of consumer choice decision rule is the attitude-toward-the -object model an example of?

Which type of analysis is used to understand the attributes that guide preferences by having consumers compare products across levels of evaluative criteria and the expected utility associated with the alternatives?

Distinctions at basic levels in a consumer's product categories are very specific, while distinctions at subsequent levels are generally made across product categories.

Energy Bar Scenario Product nutrition labels provide considerable information for consumers. For example, a consumer deciding among the many brands of energy bars might compare three offerings: Clif Bar, Larabar, and ProBar. The most important attribute for this consumer is protein content, followed by calories, taste, sugar, price, and fat content. This consumer would like an energy bar with a high protein content but low in calories, sugar, fat, and price that also tastes good. Information is easily found on nutrition labels for all but the taste attribute. This information is summarized in the following table: Attributes in order of importance Clif Bar Larabar ProBar Protein 10 grams 5 grams 8 grams Calories 250 190 350 Taste ? ? ? Sugar 13 grams 17 grams 14 grams Price \ 1.13 \ 1.25 \ 2.50 Fat 2 grams 9 grams 8 grams -Refer to Energy Bar Scenario. Taste is not readily apparent and can be determined only by actually eating the energy bar. Which type of attribute is taste?

Perceived quality is based on consumer perceptions.

Superordinate categories are abstract in nature and represent the highest level of categorization.

Size, shape, colour, and price are all examples of which type of attributes?

Product traces are mental representations of stored knowledge about groups of products.

What are the two major types of rules that consumers use when selecting products?

Jose is trying to determine the actual quality of different brands of lawn mowers by looking at Consumer Reports ratings. What type of quality is this an example of?

Which decision rule do consumers use to select an option that performs best on the most important attribute to that consumer?