2024 – 84 All consumers have a bounded rationality 85 Affective choices tend to be holistic in nature 86

    84.   All consumers have a bounded rationality.

    85.   Affective choices tend to be holistic in nature.

    86.   Attribute-based choices involve the use of general attitudes, summary impressions, intuitions, or heuristics.

    87.   Attitude-based choices are not used for important decisions.

    88.   Evaluative criteria can differ in type, number, and importance.

    89.   Indirect measurement techniques used to determine consumers’ evaluative criteria differ from direct measurements in that they assume consumers will not or cannot state their evaluative criteria.

    90.   The most common method of direct measurement to determine the relative importance of evaluative criteria is the semantic differential.

    91.   An attribute used to stand for or indicate another attribute is known as a proxy indicator.

    92.   Factors affecting the relative importance and influence of evaluative criteria include usage situation, competitive context, and advertising effects.

    93.   Conjunctive, disjunctive, elimination-by-aspects, and lexicographic are noncompensatory decision rules.

    94.   The conjunctive decision rule establishes minimum required performance standards for each evaluative criterion and selects the first or all brands that meet or exceed these minimum standards.

    95.   The disjunctive decision rule establishes an optimum level of performance for each evaluative criterion.

    96.   For a target market using the elimination-by-aspects rule, it is critical to meet or surpass the consumers’ requirements on one more (in order) of the criteria used than the competition.

    97.   In a compensatory decision, a brand’s weakness on one attribute cannot be overcome by it’s strength on another attribute.