MARK2051 Chapter Notes - Chapter 5: Likert Scale, Conjoint Analysis, Perceptual Mapping
Document Summary
Evaluative criteria: features/desired characteristics of a product required to meet consumer"s needs; features consumer believes product should have e. g. suitable price, brand, ingredient. The nature of evaluation criteria: product features/attributes associated by customers with either benefits they desire/costs they must incur, tangible or intangible, characteristics of individual and purchase situation influence number of evaluative criteria considered. Limited to attributes listed by researcher: results in preference curve for each evaluation criterion, can"t measure interaction between criteria, not well suited to measure importance of emotional responses. Surrogate indicator: attribute used to estimate level of different attribute e. g. price for quality. Heuristic: mental "rule of thumb" used by consumers to assist in decision-making process. Sensory discrimination: ability of an individual to distinguish between similar stimuli using one of the senses. Just-noticeable difference (jnd): minimum amount of change in a stimulus that needs to occur for consumers to notice the difference -> weber"s law.
