1. Identify a group of products to evaluate. The products are your choice. The decision could be...
Question:
1. Identify a group of products to evaluate. The products are your choice. The decision could be one that you are perhaps considering or a decision you've previously made. If necessary, you could use a website that offers multiple products for comparison, such as Best Buy, Walmart, or Amazon.
You should evaluate a minimum of three brands. Ideally, for this assignment, if you can, you should find a product category that has at least five brands.
2. Create a table following these instructions.
a. Determine your evaluative criteria. What attributes do you deem as important?
b. Determine how important each attribute is to you. A higher number would mean the attribute is more important. The sum of all of the attribute importance rates MUST total 100.
c. Establish the cutoff values (both minimum and acceptable) for each attribute
d. Identify the brands and rate the favorability of each brand's attributes from 5, very good, to 1, not very good.
3. Determine your choice using the following rules:
a. Conjunction Model
b. Disjunctive Model
c. Lexicographic Model
d. Elimination-by-Aspects Model
e. Multiple Attribute Model
f. *Additive-Difference Model.
*For simplicity, in calculating the Additive-Difference model you only need to compare TWO brands. All other models MUST use ALL brands considered.
4. Summarize how you arrived at your decision. Write a short description for your decision for each model describing how you made a choice. Realize that depending on the evaluative criteria, cutoff values, and importance weights you may NOT have one, single choice. Don't be concerned if this should occur. For this assignment, it is okay. If you were making this decision for real, you may need to consider additional criteria. As well, don't be concerned if the choices are not identical across the models. As we saw with the examples in the video, depending on the decision criteria the decisions were different for the models.
Advertising & Promotion An Integrated Marketing Communications Perspective
ISBN: 978-0070891302
5th Canadian Edition
Authors: Gerorge E.Belch, Micheal A.Belch, Micheal A.Guolla