Noteshells18 - Consumption Satisfaction and Disposal What happens after purchase 1 Outline Amount consumed Influences on satisfaction

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1 1 Consumption, Satisfaction, and Disposal: What happens after purchase? 2 Outline Amount consumed Influences on satisfaction: Enjoyment (different from predicted enjoyment) Quality Results of dissatisfaction Disposal 3 What might we want to manage in consumption? Amount consumed. Consider: When consumed? Where consumed? How consumed? How often consumed? How much consumed at once?
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2 4 What might we want to manage in consumption? Satisfaction with consumption. Consider: Enjoyment (Perceived) Quality (and value) 5 Do we choose what we’ll enjoy? Not always. “Choice drivers” may differ from “enjoyment drivers.” Example: River rafting 6 Preference in Choice vs. Preference in Consumption In choice, quantitative differences seem important. May choose the item that “maxes out” on particular easy-to-quantify dimensions. Qualitative differences often end up affecting “real” experiences more.
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3 7 Choice vs. Consumption Experience People do not predict well what they’ll like: Some attributes loom large in choice, not in experience (Hsee et al., 2002). People aren’t good at predicting future tastes (Kahneman A further example… 8 The Endowment Effect (Kahneman, Knetsch, & Thaler, 1990; Group 1 (Sellers): Given a mug. For how much money would you sell it? Group 2 (Buyers): Shown the same mug. For how much money would you buy it? Basically, both groups have the same task: How much is this mug worth to you? 9 The Endowment Effect $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 Sellers Buyers Sellers require more money to part with the mug than buyers would pay to acquire the mug. There is no “real” reason
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This note was uploaded on 06/05/2011 for the course MAR 3503 taught by Professor Cohen during the Fall '08 term at University of Florida.

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Noteshells18 - Consumption Satisfaction and Disposal What happens after purchase 1 Outline Amount consumed Influences on satisfaction

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