What is the lexicographic rule?

Asked By: Yevheniy Salat | Last Updated: 16th May, 2020
Category: business and finance marketing and advertising
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Definition. The Lexicographic Rule suggests that consumers rank choice criteria from most to least important and choose the best alternative on the most important criterion.[1]

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Beside this, what is conjunctive rule?

Definition. The conjunctive rule suggests that consumers establish a minimum acceptable level for each choice criterion and accept an alternative only if it equals or exceeds the minimum cutoff level for every criterion.[1]

Secondly, what is the difference between compensatory and Noncompensatory decision rules? A compensatory decision rule asumes that the consumer when evaluating alternatives trades off one characteristic against another. On the other hand, a non-compensatory decision rule choose a product or sevice on the basis of one or a subset of its characteristics regardless of the values of its other attributes.

Additionally, what is compensatory rule?

Compensatory Decision Rules A type of decision rule in which a consumer evaluates each brand in terms of each relevant attribute and then selects the brand with the highest weighted score. Brands that fall below the cutoff point on any one attribute are eliminated from further consideration.

When a consumer uses evaluative criteria they are?

12. Consumer Decision Making Process Evaluative CriteriaEvaluative Criteria are the dimensions a consumer will use to evaluate the features of the alternative choices. Some consumers would compare based on functional criteria. For others, style, ease of operation, related services, or prestige may be important.

31 Related Question Answers Found

What is decision making in consumer Behaviour?

Consumer decision making process involves the consumers to identify their needs, gather information, evaluate alternatives and then make their buying decision. The consumer behavior may be determined by economic and psychological factors and are influenced by environmental factors like social and cultural values.

What is consumer decision rules?

Consumer decision rules are the procedures used by consumers to facilitate brand (or other consumption related) choices. These rules reduce the burden of making complex decisions by providing guidelines or routines that make. the process less taxing.

What is affect referral?

Affect referral is an approach of evaluating purchasing alternatives. According to this model, a consumer selects a brand for which they have the most liking and emotional connection. This means that a brand for which he has the positive feelings will be purchased by him irrespective of its attributes.

What is extended decision making?

''Extended decision making is the response to a very high level of purchase involvement; an extensive internal and external information search is followed by a complex evaluation of multiple alternatives; after the purchase, uncertainty about its correctness is likely; and thorough evaluation of the purchase will take

What is elimination in psychology?

Elimination By Aspects. Elimination by aspects is a model of a decision making technique developed by Amos Tversky in the 1970s. When faced with multiple options this method first identifies a single attribute or feature that is most important to the decision maker.

What is conjunctive rule in psychology?

Conjunctive rule uses the logical relation AND to relate stimulus attributes, such as small and square. Disjunctive rule uses the logical relation OR to relate stimulus attributes, such as small or square. Rule learning refers to the process of discovering a logical rule from known relevant attributes.

What does non compensatory mean?

Definition. In evaluating alternatives, noncompensatory rules suggest that positive and negative consequences of alternatives do not compensate for each other. Types of noncompensatory rules include the Conjunctive Rule, the Disjunctive Rule, and the Lexicographic Rule.[1]

Is or disjunctive or conjunctive?

Conjunctive Versus Disjunctive
When you see a list in a statute, the items are generally joined either by the term "and" or the term "or." If they are joined by "and," the statute is conjunctive. If they are joined by "or," the statute is disjunctive.

What is compensatory model?

Compensatory model refers to the weakness of a brand on one attribute can be compensated for or by strength on another, and the attributes are summed

What is non compensatory model?

NON-COMPENSATORY MODELS OF CONSUMER CHOICE. The expectancy-value model is a compensatory model in that perceived good things for a product can help to overcome perceived bad things. But consumers may not want to invest so much time and energy to evaluate brands.

What is disjunctive rule?

Disjunctive rule: a minimally acceptable cut off point is established for each attribute. The brands are evaluated, and, the brand that falls above the cut off point on any of the attributes is selected. If a brand ranks considerably high than the others on this attribute, it is selected.

What is the difference between the linear compensatory rule and the conjunctive rule?

The difference between is as follows: Compensatory rule: A consumer determines a brand or model on basis of the relevant attributes and scores each brand according to their requirement. Conjunctive rule: In this a consumer establishes a minimum acceptable level for each attribute.

What is non compensatory decision rule?

Non-compensatory decision rules: A type of consumer decision rule by which positive evaluation of a brand attribute does not compensate for a negative evaluation of the same brand on some other attribute. Brands that fall below the cutoff point on any one attribute are eliminated from further consideration.

What are the three types of consumer decision making processes?

The three types are nominal decision making, which requires little to no search for alternatives; limited decision making, which requires some but not much of a search for alternatives; and extended decision making, which requires extensive evaluation of alternatives and post-purchase evaluation.

What is time poverty and how can it influence our purchase decisions?

What is time poverty, and how can it influence our purchase decisions? A feeling of having less time available than is required to meet the demands of everyday living. May be rushed and impulse buying/unplanned buying will be more likely to occur.

How do consumers use compensatory and Noncompensatory decision making models?

The compensatory and non-compensatory models are the cognitive models through which the information is combined together for decision making. The compensatory model is a cost benefit analysis of the consumer. The consumer analyses the goodness and badness about the brand with the positive and negative information.

Which one of the following is a social factor that affects the consumer decision?

Social factors affect consumer behavior significantly. Every individual has someone around influencing their buying decisions. The important social factors are: reference groups, family, role and status.