 Consideration-set heuristicsJohn R. Hauser Journal of Business Research, 2014, vol. 67, issue 8, 1688-1699 Abstract: Consumers often choose products by first forming a consideration set and then choosing from among considered products. When there are many products to screen (or many features to evaluate), it is rational for consumers to use consider-then-choose decision processes and to do so with heuristic decision rules. Managerial decisions (product development, marketing communications, etc.) depend upon the ability to identify and react to consumers' heuristic consideration-set rules. We provide managerial examples and review the state-of-the-art in the theory and measurement of consumers' heuristic consideration-set rules. Advances in greedoid methods, Bayesian inference, machine-learning, incentive alignment, measurement formats, and unstructured direct elicitation make it feasible and cost-effective to understand, quantify, and simulate “what-if” scenarios for a variety of heuristics. These methods now apply to a broad set of managerial problems including applications in complex product categories with large numbers of product features and feature-levels. Keywords: Consideration sets; Decision heuristics; Fast-and-frugal decisions; Consumer behavior; Marketing; Product development (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:67:y:2014:i:8:p:1688-1699 DOI: 10.1016/j.jbusres.2014.02.015 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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