MGMC02H3 Chapter Notes - Chapter 9: Negativity Bias, Confirmation Bias, Prospect Theory

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6 Jan 2011

Document Summary

Ch9: judgment and decision making based on h igh. High-effort judgment processes: judgments/decisions consumers make when mao to process info relevant to the decision is high, judgments evaluations or estimates regarding the likelihood that products/services possess certain features or will perform in a certain manner. This initial value can be info or an affective response available from memory; it can be attribute info from external environment encountered first; consumer values and normative influences are strong determinants of initial value. But consumers don"t engage in negativity bias when already committed to a brand: mood and bias: mood can serve as initial anchor for a judgment (e. g. when shopping for a cd in a good mood, you"ll likely respond positively to any music you hear) moods can reduce consumer"s search for and attention to negative info; consumers want to preserve their good mood by ignoring negative info.