Practise identifying utility theory, satisficing and compensatory or non-compensatory strategies, applying attribute rules and evaluating their everyday use.
Outline 'satisficing' as a model of consumer decision-making.
Award 2 marks for an outline of the term/concept in context.
Award 1 mark for a basic outline of the term/concept.
Example:
This is where the consumer satisfies their needs and searches amongst available products until they find an
acceptable product. (1) This product is then purchased. (1)
They get approximately where they want to go and then stop and decide to purchase the product. (1) If you were shopping for a new dress you would try on a few and then
buy the one that seems 'good enough'. (2)
Other appropriate responses should also be credited.
2
Max 1 mark if no link made to consumer decision-making.
Explain how satisficing as a model of consumer decision-making is reductionist.
Award 2 marks for a detailed explanation.
Award 1 mark for a basic explanation.
Likely answers:
- Just considers the cognitive level of explanation - the
consumer decides what is 'good enough' based on their
attitude about the product and the comparison to a few other similar alternatives.
- Does not take into account other levels such as environmental (store environment).
- The cognitive level of explanation of being 'good
enough' does not explain why customers will spend
extensive amount of time researching alternative products, read reviews, etc. especially when it is a high
value item that the customer might have for a long time e.g. car.
- Does not consider environmental explanation/influences
- a good marketing campaign will increase sales of the products.
- Does not explain why consumers purchase products that are luxury, high end, branded products that are
expensive and are more than 'good enough'.
- Does not consider societal and cultural explanations -products that are endorsed by 'influencers' who are
convincing the customers that they want a product as
the influencer is 'selling' a lifestyle' rather than fulfilling a
need in the consumer. Consumers want these products as they are marketed as being more than good enough.
2
6(b)
For example,
This model is reductionist as it does not consider other levels of explanation such as environmental factors. (1) Some consumers may decide to purchase a product due to the layout and atmosphere of the store. (1)
The model does not explain impulse purchases where the consumer doesn't consider any alternatives so there is no opportunity for them to believe that the product they are about to purchase is good enough as there is no product to compare it to. (2)
Other appropriate responses should also be credited.
7
Zahra works in a large store that sells a wide range of goods. She notices that customers in the store spend a long time
looking at the computers, comparing prices and asking questions. She also notices that when customers select grocery
items they only briefly look at what they put into their shopping trolley.