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Girard  (p. 9-22)

Cooper (p. 23-32)

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Coulmas-Law (p.42-46)

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JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Consumer Decision Making with Limited Information: Purchasing “Tech” Swimsuits

Author(s): Robert E. Wright

Citation: Wright Robert E., (2016)"Consumer Decision Making with Limited Information: Purchasing “Tech” Swimsuits," Journal of Applied Business and Economics, Vol. 18, Iss.4, pp. 16-19

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Consumers are frequently involved in a purchase decision making process where they have limited

information about the quality of the product being purchased. In such situations, consumers may resort to

using a choice heuristic to simplify the decision making process. This paper discusses the situation where use

of the anchor and adjustment heuristic may induce consumers to pay a high price for a product, based on

using a high priced, high quality product as the anchor, and implications for marketers.