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Decision making 2 (Consumer
decision rules (2 Categories : 1)…
Decision making 2
Consumer
decision rules
2 Categories : 1) compensatory- consumer evaluate brand options in terms of each relevant attribute and computes a weighted/sum mated score reflecting the brand relative merit and consumer pick the brand with the highest score.
2) non-compensatory- when negative attribute comes to mind, the product is disqualified from further consideration
conjunctive rule- minimally acceptable level as cut-off point to reject brands quickly
disjunctive rule - cut off point used to accept products instead
lexicographic rule- rank attributes importance and use the most important one to rank brands and repeat process till 1 brand is the last one standing.
elimination by aspects rule- rank attributes importance and set minimum cut-off point values for each
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Relationship marketing
costs savings: 1) reduced marketing costs 2) lower transaction costs 3)reduced customer turnover expenses 4) increased cross-selling successes 5)more positive WOM 6) reduce failure costs
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