Questions and Answers About Luxury Products Essay -- customers, brand

Questions and Answers(2) How does a brand name or countrified of origin school as a heuristic?(3) Do ratings vary as a function of the country of origin? (4) Are there any significant differences or similarities surrounded by internal versus foreign brands for each(prenominal) fashion product (eg. A Chinese luxury brand versus an Australian luxury brand)? (5) What are the implications for companies and businesses that use country of origin as a itinerary of advertising / promoting their product and brands? a)Based on the results in question 4a, (2) How does a brand name or country of origin work as a heuristic(2 marks)? Heuristic or rules of thumb are general decision making strategies people use that are based on smallish information, yet truly often correct heuristics are mental shortcuts that reduce the cognitive burden associated with decision making (Shah & Oppenheimer, 2008). In this case, consumers always see an Italian product with the good example of luxury brand. Thus, they may expunge all Italian based product is always expensive, exclusive, unique, high price and comfortable. Meanwhile, consumer may also assume that all products from china were all low quality, cheap and not long lasting based on what they heard and see on the television or friends.(3) Do ratings change as a function of the country of origin? Explain why or why not. (4 marks) Yes. It is because the perceived theoretical relationship between the cue of country of origin and the attributes of a product is largely conducted by product-country images, among which quality as a representative of a countrys employment has an important loading on consumers evaluations of products (Broniarczyk & Alba, 1994). For example, Korean music has been famous worldw... ... Decision Outcomes. Student Pulse.http//www.studentpulse.com/articles/180/2/decision-making-factors-that-influence-decision-making-heuristics-used-and-decision-outcomesKlein, Jill Gabrielle, Richard Ettenson and Marle ne D. Morris (1998). The Animosity Model of Foreign Product bribe An Empirical strain in the Peoples Republic of China, Journal of Marketing, 62(1), 89-100Shah, A.K., & Oppenheimer, D.M. (2008).Heuristics made easy An effort-reduction framework. Psychological Bulletin, 134(2), 207-222. DOI 1.1037/0033-2909.134.2.207.Shimp, Terence A. and Subhash Sharma (1987), Consumer Ethnocentrism Construction and Validation of the CETSCALE, Journal of Marketing search 24(3), 280-289Tversky, Amos and David Kahneman. 1974. Judgement chthonian Uncertainty Heuristics and Biases. Science 185 1124-1131. http//turtletrader.com/heuristics.pdf Questions and Answers About Luxury Products Essay -- customers, brand Questions and Answers(2) How does a brand name or country of origin work as a heuristic?(3) Do ratings change as a function of the country of origin? (4) Are there any significant differences or similarities between domestic versus foreign brands for EACH fashion product (eg. A Chinese luxury brand versus an Australian luxury brand)? (5) What are the implications for companies and businesses that use country of origin as a way of advertising / promoting their product and brands? a)Based on the results in question 4a, (2) How does a brand name or country of origin work as a heuristic(2 marks)? Heuristic or rules of thumb are general decision making strategies people use that are based on little information, yet very often correct heuristics are mental shortcuts that reduce the cognitive burden associated with decision making (Shah & Oppenheimer, 2008). In this case, consumers always see an Italian product with the exemplar of luxury brand. Thus, they may assume all Italian based product is always expensive, exclusive, unique, high price and comfortable. Meanwhile, consumer may also assume that all products from China were all low quality, cheap and not long lasting based on what they heard and see on the television or friends.(3) Do ratings change as a fu nction of the country of origin? Explain why or why not. (4 marks) Yes. It is because the perceived theoretical relationship between the cue of country of origin and the attributes of a product is largely conducted by product-country images, among which quality as a representative of a countrys production has an important effect on consumers evaluations of products (Broniarczyk & Alba, 1994). For example, Korean music has been famous worldw... ... Decision Outcomes. Student Pulse.http//www.studentpulse.com/articles/180/2/decision-making-factors-that-influence-decision-making-heuristics-used-and-decision-outcomesKlein, Jill Gabrielle, Richard Ettenson and Marlene D. Morris (1998). The Animosity Model of Foreign Product Purchase An Empirical Test in the Peoples Republic of China, Journal of Marketing, 62(1), 89-100Shah, A.K., & Oppenheimer, D.M. (2008).Heuristics made easy An effort-reduction framework. Psychological Bulletin, 134(2), 207-222. DOI 1.1037/0033-2909.134.2.207.Shimp, Te rence A. and Subhash Sharma (1987), Consumer Ethnocentrism Construction and Validation of the CETSCALE, Journal of Marketing Research 24(3), 280-289Tversky, Amos and David Kahneman. 1974. Judgement under Uncertainty Heuristics and Biases. Science 185 1124-1131. http//turtletrader.com/heuristics.pdf