3 Consumer Decision Rules: Evaluating Car Models ts eBook Print eferences People use various consumer decision rules to select a product or service from among several alternatives. In compensatory decision making, consumers trade off one product characteristic against another positive characteristics compensate for negative ones. In noncompensatory decision making, consumers choose a product based on only one characteristic, regardless of the value of the others. (As a consumer , you'll need to weigh various criteria-based on your opinions, observation, and experience-in order to make a well-informed purchasing decision) In the following exercise, you'll evaluate car models using both compensatory and non-compensatory consumer decision rules Read the fictional scenario below, reviewing the criteria that Ashley Jones uses to select a car model Study the data in the product evaluation table and then answer the questions that follow Ashley Jones is about to start her first year of medical school and needs a car to get to classes, the library, and the local hospital for clinical training She'll be spending so much time in the car that fuel economy is important to her Price is even more important, though, given that she is already thinking about the student loans she'll have to repay. Most of Ashley's driving will be done on freeways, and in winter the weather can be really bad. Given this, safety and reliability are very important to her. Even though style is something that will impact her decision, she's more focused on getting something practical Ashley also likes the idea of custom options, so the option to customize is also among her decision-making criteria. Ashley, new to car buying, begins to do some research about different models and options. She learns that there are three main categories of cars: sedans, SUVs, and coupes. She is most familiar with sedans-her parents have always owned sedans and her hthar thinh nam ne tammdat hierin famih nehler araw reale that can ho the hottestrarre Ashley, new to car buying, begins to do some research about different models and options. She learns that there are three main categories of cars: sedans, SUVs, and coupes. She is most familiar with sedans-her parents have always owned sedans and her brother just bought a new one to accommodate his growing family. Ashley's research reveals that sedans have the best safety records of all car categories: they are one of the most fuel-efficient models on the market, and they are often available at a lower price point than SUVs or coupes. Unfortunately, sedans are not the most stylish cars around-in fact, they're a bit boring. SUVs, on the other hand, are more fun looking than the sedan-it's practical, yet stylish. They are also rated well in safety and stability. particularly in bad weather. Unfortunately, they do not tend to be as fuel efficient as the sedan. It is also more expensive. Meanwhile, Ashley's roommate just bought a new coupe. The coupe is definitely the most attractive of the vehicles Ashley has seen. The coupe is a bit more expensive then the sedan and less expensive than the SUV. It is also the least fuel efficient of the three car models. The coupe has a less than average safety rating and does not do as well as the SUV in bad weather. Further the coupe offers lots of options to customize, so Ashley needs to consider how important this factor is in her decision-making process. How should Ashley decide which car model to purchase? Ashley decides to formalize her analysis and lets the numbers guide her ences decision The following product evaluation table shows the numerical importance weights and performance scores that Ashely applied to each of the selection criteria she identified. Note that the total weight of all four criteria equals 10, where 0.1 is the least important and 0.4 is the most important. The performance scores fall on a scale of 1 to 10, where 1 is the lowest score and 10 is the highest. The total performance scores vary across each airline. PRODUCT EVALUATION Sedan limnortance Performance SUV Performance Coupe Performance PRODUCT EVALUATION Weighted Score Coupe Performance Weighted Sedan SUV Importance Performance Performance Weights Weighted Score Score Safety 0.41 10 4 5 Fuel Efficiency 0.3 5 1.51 101 Style 0.2 1 0.2 10 Price 0.1 10 11 TOTAL 26 6.7 26 3 1.21 0.3 2 3 2 0.1 7.1 5 16 0.7 3.2 1. Which car model scored the highest on price? (Click to select) 2. Which car model scored the highest on safety? (Click to select) 3. Which car model scored the highest on style? (Click to select) 4. Which car model scored the highest on fuel efficiency? (Click to select) 5. Which car model scored the lowest on style? (Click to select) Dr 2 - 3 2. WIR Ldt mouer scoreu uenighest Onsdiety! (Click to select) Ints 3. Which car model scored the highest on style? (Click to select) 4. Which car model scored the highest on fuel efficiency? (Click to select) 5. Which car model scored the lowest on style? (Click to select 6. Which car model scored the lowest on price? (Click to select) eBook Print References 7. Which car model scored the lowest on fuel efficiency? Click to select) 8. Which car model scored the lowest on safety? (Click to select) 9. Based on a compensatory decision making model, which vehicle type should Ashley choose? (Click to select) 10. Based on a noncompensatory decision making model based on safety, which vehicle type should Ashley choose? (Click to select)