describe an original decision-making scenario that conveys how the heuristic (availiability, representativeness, or confirmation) and associated bias(es) played a part in the outcome

How can the following models help managers? (1) Cluster Analysis, (2) Choice Models, (3) Conjoint Models, and (4) Market Response Models

What is Decision Theory?

29 The last step of the 8 steps decision making process is  A) developing alternatives B) identifying a problem C) implement the alternatives D) evaluating decision effectiveness

6. A consumer has chosen the model of MP3 player that he intends to purchase. On his way to the store, he has a conversation with his sister about the MP3 player he is going to buy. She expresses her opinion about MP3 players. The factor that could come between the consumer's intention to buy an MP3 player and his ultimate purchase decision is directly related to O the consumer's evaluation process for MP3 players. Ounexpected situational factors surrounding the consumer's decision. O additional consumer research on MP3 players. O another's attitude toward the chosen product.

Differentiate between the following Response Hierarchy Models AIDA Model – Hierarchy of Effects Model – Innovation Model- Communication ModelWhich model will be the best for newly launched automobile brands KIA and MG; give appropriate reasoning

Group Decision Making: Social decision schemes or rules can predict the final outcome of group decision making on the basis of the individual members’ initial positions What are the four schemes can be used ? with explanation

Attitude is a big influencer in decision making. What can a marketer do to change attitude?

Identify how one can avoid making confirmation bias and overconfidence bias errors in the decision-making process.