Questions and Answers About Luxury Products Essay -- customers, brand

Questions and Answers(2) How does a brand name or country of reference work as a heuristic?(3) Do ratings change as a function of the country of rootage? (4) Are there both significant differences or similarities between domestic versus foreign brands for EACH panache product (eg. A Chinese luxuriousness brand versus an Australian luxury brand)? (5) What are the implications for companies and businesses that use country of foundation as a air of advertising / promoting their product and brands? a)Based on the results in question 4a, (2) How does a brand name or country of contrast work as a heuristic(2 marks)? Heuristic or rules of thumb are general finis making strategies people use that are based on low information, yet very often correct heuristics are mental shortcuts that narrow the cognitive burden associated with decision making (Shah & Oppenheimer, 2008). In this case, consumers al right smarts translate an Italian product with the exemplar of luxury brand. Thu s, they whitethorn assume entirely Italian based product is always expensive, exclusive, unique, high price and comfortable. Meanwhile, consumer may also assume that completely products from China were all low quality, tatty and not long lasting based on what they heard and affect on the television or friends.(3) Do ratings change as a function of the country of origin? Explain wherefore or why not. (4 marks) Yes. It is because the perceived theoretical relationship between the cue of country of origin and the attributes of a product is largely conducted by product-country images, among which quality as a representative of a countrys production has an important feeling on consumers evaluations of products (Broniarczyk & Alba, 1994). For example, Korean music has been famous worldw... ... Decision Outcomes. Student Pulse.http//www.studentpulse.com/articles/one hundred eighty/2/decision-making-factors-that-influence-decision-making-heuristics-used-and-decision-outcomesKlein, J ill Gabrielle, Richard Ettenson and Marlene D. Morris (1998). The Animosity Model of Foreign Product Purchase An experimental Test in the Peoples Republic of China, Journal of Marketing, 62(1), 89-100Shah, A.K., & Oppenheimer, D.M. (2008).Heuristics made diffused An effort-reduction framework. Psychological Bulletin, 134(2), 207-222. DOI 1.1037/0033-2909.134.2.207.Shimp, Terence A. and Subhash Sharma (1987), Consumer Ethnocentrism Construction and Validation of the CETSCALE, Journal of Marketing enquiry 24(3), 280-289Tversky, Amos and David Kahneman. 1974. Judgement under Uncertainty Heuristics and Biases. Science 185 1124-1131. http//turtletrader.com/heuristics.pdf Questions and Answers About Luxury Products bear witness -- customers, brand Questions and Answers(2) How does a brand name or country of origin work as a heuristic?(3) Do ratings change as a function of the country of origin? (4) Are there every significant differences or similarities between domestic versus foreign brands for EACH demeanor product (eg. A Chinese luxury brand versus an Australian luxury brand)? (5) What are the implications for companies and businesses that use country of origin as a way of advertising / promoting their product and brands? a)Based on the results in question 4a, (2) How does a brand name or country of origin work as a heuristic(2 marks)? Heuristic or rules of thumb are general decision making strategies people use that are based on short(p) information, yet very often correct heuristics are mental shortcuts that inhibit the cognitive burden associated with decision making (Shah & Oppenheimer, 2008). In this case, consumers always knock against an Italian product with the exemplar of luxury brand. Thus, they may assume all Italian based product is always expensive, exclusive, unique, high price and comfortable. Meanwhile, consumer may also assume that all products from China were all low quality, shabby and not long lasting based on what the y heard and recognize on the television or friends.(3) Do ratings change as a function of the country of origin? Explain why or why not. (4 marks) Yes. It is because the perceived theoretical relationship between the cue of country of origin and the attributes of a product is largely conducted by product-country images, among which quality as a representative of a countrys production has an important frame on consumers evaluations of products (Broniarczyk & Alba, 1994). For example, Korean music has been famous worldw... ... Decision Outcomes. Student Pulse.http//www.studentpulse.com/articles/ clxxx/2/decision-making-factors-that-influence-decision-making-heuristics-used-and-decision-outcomesKlein, Jill Gabrielle, Richard Ettenson and Marlene D. Morris (1998). The Animosity Model of Foreign Product Purchase An verifiable Test in the Peoples Republic of China, Journal of Marketing, 62(1), 89-100Shah, A.K., & Oppenheimer, D.M. (2008).Heuristics made hands-down An effort-reduction framework. Psychological Bulletin, 134(2), 207-222. DOI 1.1037/0033-2909.134.2.207.Shimp, Terence A. and Subhash Sharma (1987), Consumer Ethnocentrism Construction and Validation of the CETSCALE, Journal of Marketing investigate 24(3), 280-289Tversky, Amos and David Kahneman. 1974. Judgement under Uncertainty Heuristics and Biases. Science 185 1124-1131. http//turtletrader.com/heuristics.pdf