MARKETING
Assume you are planning to purchase a used car. Our objective is for you to apply the material on consumer decision processes.
a. Identify the key attributes you would like to learn about before you make your decision.
- This tells marketers and sellers about the range of topics to advertise or discuss with potential buyers.
b. Identify the importance of each attribute. Quantify the importance of each attribute so that the importance weights sum to 1.0.
- This tells marketers what to emphasize in the content of their advertising.
c. Identify the sources and search sequence you would use and how important is each source in learning about each attribute.
- This would help marketers to understand how to allocate their media budgets.
d. Identify which attributes in your utility function are non-compensatory (it must have 4 doors). A which sets of attributes are compensatory (you are willing to accept trade-offs, for example price and comfort may be compensatory.