Question: The decision biases we discussed in class (specifically the compromise effect and attraction effect) have what implication for market research? Collecting information on customer intention
The decision biases we discussed in class (specifically the compromise effect and attraction effect) have what implication for market research?
Collecting information on customer intention to purchase is more important than collecting information on whether customers have the ability or opportunity to buy products
Collecting information from customers on how much they care about each attribute of a product will only partially be able to predict whether customers purchase the product
Understanding how much spending money customers have in general is more important than understanding how much they intend to spend on the category your products are in
You should be able to predict customer behavior with near certainty if you know how they feel about the attributes that make up a product
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