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5.Think about the last car you purchased. Which of the following two models explain your behavior:...

5.Think about the last car you purchased. Which of the following two models explain your behavior: Expectancy-value model or Lexicographic heuristics model. Explain in detail.

(Instead of a car it could be any other “durable” product of your choice).

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Answer #1

The last car purchased by me was based on Lexicographic heuristics model. Lexicographic heuristics model includes buying a product based on its perceived most important attribute. The perceived most important attribute for purchasing the car was the brand efficiency and performance as well as its recency of the model for resale value.

Several attributes are considered while purchasing a car and the market has competitive products and offers for a certain price bracket. Lexicographic heuristics model means selecting a product based on its most important perceived attribute by customers to make a choice from several options.

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