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Decision Making Process

Essay by   •  January 18, 2012  •  Essay  •  946 Words (4 Pages)  •  1,321 Views

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Firsly, we will use intuitive criteria of multi -objective decision making. And as we know that there are different approach to make a decision based on people knowledge to his/ her environment

Before using these approaches , we will explain some terminologies related with intuitive making decision.these are basically ; recognition heuristic, Minimalist strategy, Lexicographic strategy,EBA (Eliminations by aspects).

To start with recognition heurstic which is basically if one of more objects is recognized and the others are not, the recognized object has the higher value with respect to the criterion which means that a person who well- know about the product or brand , tends to choose that product. This recognition usually can arouse by recent memory, for example, familiar product brand, highly advertised product, highly well-known car, etc. in our case we have five different brand name these are Apple, Samsung , Toshiba, Sony and Dell ,and we can say that decision maker has an idea about most of them , as a result he looks lıke indifferent between the all five brands. But he would say that there are lots of advertisement on televison related with Samsung but not the completely relavant to our alternative but still Smasung affects his mind because of the recency effect . as a result he would make a decision on samsung just because recent memory .we can analyses that this might not be the best choice for the decision maker.

Secondly; Minimalist strategy can be applied when neither of alternatives recognized or all alternatives recognized .if not recognized just chose one of them. If all recognized choose random one of the attributes of the alternatives.

In our case it is assumed that all products are recognized so I have to look over the attributes of all products.

First of all, each products have almost the same CPU just except sony has Sony 17 . This attribute doesn't make any differences between the all products. Thus I have to check other attributes.

Additionally; all products have windows 7 rather than Apple ,it has IOS. As result decion maker is stiil in differences between among all products. Minimalist strategy can be applied to the case and decision maker choose the cheapest cost attribute and he would chose the Samsung having just $ 753.. If the third attributes of all products were the same, we had to check the fourth attributes and so on.

Now; thirdly we will analyses the strategy called lexicography stragety which is a non-compensatory decision rule where consumers first rank product attributes in terms of their importance, then compare brands in terms of the attribute considered most important. If one brand scores sufficiently high, it is selected; if not, the process is continued with the second ranked attribute, and so on. In order to in this casewe will apply lexicographic strategy to this case we have decide which attributes we really want.. this is the key

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