“Get closer to your customer by understanding how they mak

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“Get closer to your customer by understanding how they make choices”1 Impact on choice. Explain how the set of alternatives (choice set) under consideration may influence choice.2 Ability of consumers to report their own tastes or importance weights. Explain how the choice set may affectreporting.3 Shifting the focus of attention. Explain how attention may be shifted and how this affects choice.4 Compare and contrast how a “low-equity” low-price brand and a “high-equity” high-price brand would haveretailers arrange a product display.5 Fear of wrong choice. Explain how the manner in which alternatives are evaluated may affect choice.6 Define ‘framing.’ How might framing affect choice? Illustrate.7 Variety seeking. Explain the influence of time frame (time horizon).8 Impact on brand choice. Explain the effect of adding features and promotions with “limited” perceived value.9 Briefly describe three managerial implications suggested by the Simonson article

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