CH 10 High Effort Decision Making.ppt

Chapter 10 Judgment and Decision Making Based on High Consumer Effort Chapter Overview High-Effort Judgment Processes High-Effort Decision-Making Processes High-Effort Thought-Based Decisions High-Effort Feeling-Based Decisions Decision Making When Alternatives Cannot Be Compared Does Context Affect How Decisions Are Made? High-Effort Judgment Processes Judgments Decision Making Judgments of Likelihood and Goodness/Badness Anchoring and Adjustment Process Imagery Biases in Judgment Processes Priming Brand Extensions Perceived Attribute Correlations:Real and Imagined Conjunctive Probability Assessment - Estimate Whether Two Events Occur Simultaneously Illusory Correlation: Are Oranges with Big Navels Really Better? High-Effort Judgment Processes Conjunctive Probability Assessment Illusory Correlation High-Effort Decision-Making Processes Consideration Set Inept Set Inert Set High-Effort Thought-Based Decisions Cognitive Models Types of Decision Processes Compensatory Versus Noncompensatory Models Brand Versus Attribute Models Brand Processing Attribute Processing High-Effort Thought-Based Decisions Compensatory Brand-Processing Models Multiattribute expectancy-value model Compensatory Attribute-Processing Models Additive Difference Model Noncompensatory Brand-Processing Models Cutoff Levels Conjunctive Model—eliminates Disjunctive Model—includes Compensatory Attribute Processing Models Additive Difference Model Brands Compared by Attribute, Two at a Time Differences Added Up as Decision Maker Proceeds by Attribute; e.g.: Epson Canon Diff Price 5 3 2 Weight 3 4 -1 Processor 5 5 0 Battery Life 1 3 -2 After Sale Support 3 3 0 Display Quality 3 3 0