Explain how the set of alternatives (choice set) under consideration may influence choice.

“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 affect reporting. 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 have retailers 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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