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What is Lexicographic Heuristic in Marketing? PDF Download

Learn Lexicographic Heuristic definition in marketing with explanation to study “What is Lexicographic Heuristic”. Study lexicographic heuristic explanation with marketing terms to review marketing course for online MBA programs.

Lexicographic Heuristic Definition

  • A consumer choosing the best brand on the basis of its perceived most important attribute.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Lexicographic Heuristic Explanation

As a side note, heuristic, for this situation, alludes to a standard guideline in a buyers basic leadership process. The anticipation worth model (a compensatory model) expresses that an items (or administrations) saw great characteristics (things) can help conquer apparent terrible things. Be that as it may, shoppers frequently take a psychological alternate way (heuristics) to settle on a purchasing choice. The lexicographic heuristic is one of three decision heuristics a purchaser may use to make a purchasing decision. As a model, a shopper might be looked with the need to purchase a cell phone. Given that the accessible cell phone brands are equivalent in the customers mind, the shopper will choose a cell phone dependent on its apparent significant property. This could be that one specific cell phone, over different alternatives, may have an apparent better camera.

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