| A | B |
|---|
| mental budget | An example of this would be "saving" up calories during the week because you know you're going to have a big splurge this weekend |
| Type 1 | Most decision making is this fast thinking mode |
| Type 2 | When purchase decisions are important, we tend to use THIS mode |
| problem recognition | The first stage in the consumer decision-making process |
| information search | the process by which the consumer surveys the environment for appropriate data to make a reasonable decision |
| determinant | Features actually used to differentiate among choices |
| evaluative | Dimensions we use to judge the merits of competing options |
| post purchase evaluation | when a consumer uses a selected product and decides whether it merits his or her expectations |
| consideration | group of vehicles that someone is considering purchasing |
| conjunctive | According to the ________ rule, a product with a low standing on one attribute cannot make up for this position by being better on another attribute |
| habitual | Buying decisions that are made with little or no conscious effort |
| compensatory | In THIS decision making, a consumer evaluates brands on the most important attribute, but specific cutoffs are imposed. |
| evoked set | The alternatives that a consumer knows about |
| simple additive rule | type of rule is a consumer using if they select the option that has the largest number of positive attributes |
| satisficing | A decision strategy that seeks to deliver an adequate solution rather than the best possible solution |
| heuristic | A mental or problem-solving shortcut used to make a decision |
| bounded rationality | The "good enough" perspective on decision making |
| brand loyalty | A consumer who buys the same brand over and over again |
| inertia | throwing something in your cart because its what you buy usually and you don't really care |
| familiarity | buying a familiar brand that you parents may have used is this type of heuristic |
| price | Someone who selects the option with the highest price since they believe that quality and price are directly related, is an example of using what heuristic |
| loss aversion | People hate losing things more than they like getting things |
| prospect | According to THIS theory, utility is defined in terms of gains and losses |
| framing | One facet of mental accounting is making a decision based on the way a problem was posed. |
| temporal framing | A store is is having an END OF SUMMER sale |
| nudge | a deliberate organizational change adopted to modify someone's behavior |
| long tail | According to THIS a company can make money if it sells small amounts of items that only a few people want, if the company sells enough different items |
| intelligent agents | sophisticated software programs that use collaborative filtering technologies to learn from past user behavior to recommend new purchases |
| cybermediaries | Directories and portals, website evaluators, forums, fan clubs, and user groups are all forms of |
| search engine optimization | refers to the tactics companies use to design websites and posts to maximize the likelihood that their content will show up when someone searches for a relevant term |
