“Get closer to your customer by understanding how they make choices”
1 Impact on choice. Explain how the set of alternatives (choice set) under consideration may influence choice.
2 Ability of consumers to report their own tastes or importance weights. Explain how the choice set may affect
reporting.
3 Shifting the focus of attention. Explain how attention may be shifted and how this affects choice.
4 Compare and contrast how a “low-equity” low-price brand and a “high-equity” high-price brand would have
retailers arrange a product display.
5 Fear of wrong choice. Explain how the manner in which alternatives are evaluated may affect choice.
6 Define ‘framing.’ How might framing affect choice? Illustrate.
7 Variety seeking. Explain the influence of time frame (time horizon).
8 Impact on brand choice. Explain the effect of adding features and promotions with “limited” perceived value.
9 Briefly describe three managerial implications suggested by the Simonson article