Consumer Choice
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Transcript of Consumer Choice
![Page 1: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/1.jpg)
HOW CONSUMERS MAKE
CHOICES
Team 1
Francis Martinez | Michela Caltran | Roushan Kumar
Roman Malyshev | Gregory Vanhaute | Ding Zhao
![Page 2: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/2.jpg)
The aim of marketing is
to know and understand the customer
so well the product or service
fits him and sells itself.
- Peter Drucker
![Page 3: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/3.jpg)
A consumer choice is a
complex nonlinear
process:
Bounded Rationality: a
limited capacity for
processing information
Preferences are not stable
They construct a decision process that is appropriate
for the situation at hand.
![Page 4: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/4.jpg)
Affective Based Choice
Based primarily on the immediate
emotional response to the
product or service.
The underlying motive is
consummatory: rewarding to the
individual.
Marketers should help consumers
visualize how they will feel during
and after the consumption
experience.
![Page 5: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/5.jpg)
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Can you think of a recent
purchase, where you made
an affective choice?
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Attribute Based Choice
Attribute-based choice requires the
knowledge of the specific attributes
of the alternatives at the time the
choice is made, and it involves
attribute-by-attribute comparisons
across brands.
This is an effortful and time-
consuming process. It also tends
to produce a more nearly optimal
decision
![Page 8: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/8.jpg)
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What product categories do you think
will fall under the attribute-based choice?
• Vehicles
• Sport equipment
• Technology products
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Attitude Based Choice
Attitude-based choice involves the use
of general attitudes, summary
impressions, intuitions, or heuristics;
no attribute-by-attribute comparisons
are made at the time of choice.
General attitudes
Summary impression
Intuition or heuristics
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In which situation would you base
your purchase on someone’s opinion
rather than affective
or attribute-based choice?
![Page 13: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/13.jpg)
Conclusion
Motivation, information availability and situational factors interact to
determine which choice process will be used.
Three types of consumer choice processes are:
Affective choice
Attribute-based choice
Attitude-based choice
These are not mutually exclusive and combinations may be used in
a single decision.
![Page 14: Consumer Choice](https://reader034.fdocuments.in/reader034/viewer/2022042716/55a993401a28ab49608b48fa/html5/thumbnails/14.jpg)
Thank you for
your participation!