When consumers deal with retail goods and services, they need to make correct and rational decisions. In marketing and business, attribute-based choices are based on the awareness of specific attributes and the ability to compare characteristics of different brands simultaneously (Mothersbaugh et al., 2020). Individuals with high purchase involvement or motivation are likely to make such choices by addressing individual judgments or following evaluative criteria. For example, a person’s choice between two groups of products includes the analysis of prices, conditions, and other alternatives under which a purchase is organized. It is an example of evaluative criteria in attribute-based choice-making. Individual judgment is a part of any consumer decision when attention is paid to the factors that matter, namely the quality of products, the duration of services, or the possibility of sales. Attributed-based choices may influence pricing structures in several ways because people would like to identify the best attributes that could affect human choices. The compensatory decision rule is based on consumers’ judgments and criteria regarding the highest rates. The lexicographic decision rule initiates consumers’ ranking following the importance of services or products.
Reference
Mothersbaugh, D., Hawkins, D., & Kleiser, S. B. (2020). Consumer behavior: Building marketing strategy (14th ed.). McGraw-Hill Education.