Question: Marketers often analyze how consumers perceive their products by using a multi-attribute model which considers a set of product attributes along with the importance weights
Marketers often analyze how consumers perceive their products by using a multi-attribute model which considers a set of product attributes along with the importance weights of each of those attributes. Similarly, when consumers are faced with a decision, they, too, consider the product attributes and their importance weights. However, depending on their level of involvement in the decision, consumers have a variety of decision strategies at their disposal to assist them in making the decision. Using the information below, complete the chart by defining each type of decision strategy and determining sneakers that would be selected using that method.
|
| Look | Comfort | Quality | Fit | Price |
| Importance Weights | .10 | .15 | .20 | .25 | .30 |
| New Balance | 10 | 2 | 1 | 8 | 3 |
| Adidas | 7 | 8 | 5 | 4 | 3 |
| Nike | 8 | 6 | 7 | 8 | 8 |
| Sketchers | 5 | 3 | 4 | 2 | 9 |
Note: The numbers in the chart refer to how the brand is rated on that attribute. 10 means it is outstanding, 5 means about average, and 1 means it is among the worst dimension. The weights on the top are chosen to add up to 1. The higher the weight the more important the attribute. Assume 4 is the threshold for poor performance.
| Strategy | Definition (what do you do) | Type of Processing | Product Choice |
| Compensatory |
| Select one
Brand Attribute |
|
| Conjunctive |
| Brand Attribute |
|
| Disjunctive |
| Brand Attribute |
|
| Lexicographic |
| Brand Attribute |
|
| Elimination by Aspects |
| Brand Attribute |
|
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