Posted: July 28th, 2016

Describe a recent consumer choice you made and present the information as a table.

Describe a recent consumer choice you made and present the information as a table. a) Describe the process if you used the Satisficing strategy to make your choice, then state what your choice would be using this strategy. b) Is Satisficing compensatory or non-compensatory and why (Define compensatory and non-compensatory)? c) In the same example, show how you would choose using the lexicographic strategy. d) Is Lexicographic a compensatory or non-compensatory and why? Did you choose the same thing, if not, why not? e) When is it appropriate to use compensatory versus non-compensatory and vice-versa? MG110