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Topic 7: Judgement and Making Decisions (Decision making (high effort)…
Topic 7: Judgement and Making Decisions
Judgements
Types of judgements
estimation of likelihood
goodness/badness
mental and emotional accounting
biases
confirmation bias
self-positivity bias
negativity bias
mood and bias
prior brand evaluations
prior experience
difficulty of mental calculations
Decision making (high effort)
High effort process
deciding on which brands to consider
deciding what is important to the choice
deciding what offering to choose
deciding whether to make a decision now
deciding when alternatives cannot be compared
Thought-based decisions
Compensatory
Brand
multi attribute expectancy value model
attribute
additive difference
Non compensatory
brand
conjunctive
disjunctive
attribute
lexicographic
elimination by aspects
Feeling-based decisions
Appraisals and feelings
Affective forecasts
Imagery
Factors affecting high effort decisions
Consumer characteristics
Characteristics of the decision
Group context
Decision making (low effort)
Low effort process
Representativeness heuristic
Availability heuristic
Thought-based decisions
Choice tactics
Outcomes
Feeling-based decisions
Feelings as a simplifying strategy
Brand familiarity
decision making based on variety seeking needs
Buying on impulse