Class notes
Decision making in marketing - Lectures
- Course
- Institution
The lectures of DM summarized, including extra information on the topics. I also have a summary of the two tutorials (papers) which you have to learn.
[Show more]
Seller
FollowElinevandeven
Reviews received
Content preview
Decision making in MarketingTheories Lecture 1
Subscriptions
Assume you would like to subscribe to ‘Time’ magazine
1. Internet-only subscription for 59 Euro
2. Print-and-internet subscription for 125 Euro
What would you choose if you had these options?
1. Internet-only 59 Euro
2. Print-only 125 Euro
3. Print-and-internet 125 Euro
3 options 2 options
Internet only ? 68%
Print only ? -
Internet and print ? 32%
Actual experiment à
3 options 2 options
Internet only 16% 68%
Print only 0% ?
Internet and print 84% 32%
Choices are made in a context
• Everything is relative, without context choices (in absolute terms) mean nothing
• We compare everything
Mental account
1) You are going to a movie. As you stand in line at the box office to buy your ticket,
you discover that you have dropped a € 12 bill on the Metro. You are disappointed, of
course, but would this affect your decision to buy the movie ticket?
Will you still pay for the movie ticket?
2) Let's say you are headed to a movie. As you are about to enter the theater, you
reach into your pocket and find to your dismay that you have lost your ticket. You
don't have a receipt, so if you still want to see the movie, you have to pay another €12
for a new ticket.
Will you pay again for the movie ticket?
88% in case 1 (2013:71%)
46 % in case 2 (2013: 58%)
Loosing money à different mental account
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Elinevandeven. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $3.18. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
47561 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now