Posted: January 21st, 2025

Expected Value and Consumer Choices – GM

Assignment 2: Expected Value and Consumer Choices
Consumers’ choices are prey to subtle discrepancies that arise in
cognitive accounting. Learning how and when you are prey to these discrepancies
is an important step in improving your decision making.
As the readings for this module demonstrate, people value gains and
losses differently under different scenarios. For example, contestants in a
game show might choose a guaranteed $10 prize over a 50 percent chance of
winning $20 despite the fact that the expected values are the same.
Using the readings for this module, the Argosy University online library
resources, and the Internet, address the following:
·
What is mental accounting and how does
it impact consumer decision making?
·
How might a company take advantage of
consumers’ mental accounting? Give examples.
·
As a marketer, how might you frame
certain decisions to benefit from the disparities that arise in one’s cognitive
accounting?
·
As a consumer, how would you avoid the
pitfalls posed by the inequalities of one’s cognitive accounting?
Write a 3–5-page paper in Word format. Apply APA standards to citation
of sources. Use the following file naming convention:
LastnameFirstInitial_M4_A2.doc.
ByWednesday, February 19, 2014, deliver your
assignment to theM4: Assignment 2
Dropbox.Assignment 2 Grading CriteriaMaximum PointsExamined the concept of mental accounting and how it impacts consumer
decision making.20Adequately described how a company can take advantage of consumers’
mental accounting, providing appropriate examples.24As a marketer, explained how certain decisions might be framed to
benefit from the disparities that arise in one’s cognitive accounting. As a
consumer, explained how to avoid the pitfalls posed by the inequalities of
one’s cognitive accounting.36Wrote in a clear, concise, and organized manner; demonstrated ethical
scholarship in accurate representation and attribution of sources; displayed
accurate spelling, grammar, and punctuation.20Total:100

Tags: Best Online Essay Writers - Thesis and Dissertation Help, Custom Dissertation Writing Services for PhD Students, Essay USA, UK - Cheap Essay Writing Service