Which of the following statements holds true for the term "decision heuristics"?
A)It refers to the set of criteria that consumers use consciously or subconsciously to evaluate alternatives and trade off one characteristic against another, such that good characteristics compensate for bad ones.
B)It refers to the set of criteria that consumers use consciously or subconsciously to choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attributes.
C)It refers to the mental state that occurs when individuals feel completely satisfied with their lives and how they live.
D)It refers to the mental shortcuts that help consumers narrow down choices; examples include price, brand, and product presentation.
E)It refers to the product or service features that are important to buyers and on which competing brands or stores are perceived to differ.

Question

Quizplus · Accepted Answer

Decision heuristics refer to mental shortcuts used by consumers to simplify the decision-making process. Examples of decision heuristics include price, brand, and product presentation. Option A describes compensatory decision-making, option B describes attribute-based decision-making, option C describes life satisfaction, and option E describes key buying criterion.

Which of the Following Statements Holds True for the Term