CH 11 Low Effort Decision Making.pptVIP

Chapter 11 Judgment and Decision Making Based on Low Consumer Effort Doing a lot without doing much! Chapter Overview Low-Effort Judgment Processes Low-Effort Decision-Making Processes Learning Choice Tactics Low-Effort Thought-Based Decision Making Low-Effort Feeling-Based Decision Making Low-Effort Judgment Processes Shortcuts in Making Judgments The Representativeness Heuristic The Availability Heuristic Base-Rate Information Law of Small Numbers We accept and don’t verify Low-Effort Decision-Making Processes How Does Low-Effort Decision Making Differ from High-Effort Decision Making? Hierarchy of Effects Low-Effort Decision-Making Processes How Does Low-Effort Decision Making Differ from High-Effort Decision Making? Passive or Incidental Learning Low-Effort Decision-Making Processes Using Simplifying Strategies when Consumer Effort Is Low Satisfice Choice Tactics Learning Choice Tactics Operant Conditioning Reinforcement Punishment Repetition Learning Choice Tactics Choice Tactics Depend on the Product Low-Effort Thought-Based Decision Making Performance as a Simplifying Strategy Performance-Related Tactics Habit as a Simplifying Strategy Habit Shaping Brand Loyalty as a Simplifying Strategy Brand Loyalty Multibrand Loyal Low-Effort Thought-Based Decision Making Price as a Simplifying Strategy Price-Related Tactics Zone of Acceptance Price Perceptions The Deal-Prone Consumer Low-Effort Thought-Based Decision Making Normative Influences as a Simplifying Strategy Let someone else make the decision. They provide guidance or in effect, take the blame. Low-Effort Feeling-Based Decision Making Feelings as a Simplifying Strategy Affect Affect Referral Brand Familiarity Visual Attributes Co-Branding Low-Effort Feeling-Based Decision Making Decision Making Based on Variety-Seeking Needs Variety Seeking Optimal Stimulation Level (OSL) Sensation Seekers Vicarious Exploration Use Innovativeness Low-Effort Feelings-Based Decision Making Buying on Impulse Write about