1. IN WHAT WAYS DO
CONSUMERS STRAY FROM A
DELIBERATIVE,RATIONAL
DECISION MAKING PROCESS?

2. CONSUMERS DON’T
ALWAYS MAKE
INFORMED OR
RATIONAL CHOICES

3. SOMETIMES,T
HEY DON’T
GET THE
WHOLE
PICTURE
BECAUSE OF
LOW
INVOLVEMENT IN
THE DECISION
MAKING
PROCESS

4. SOMETIMES CONSUMERS MAKE
THE CHOICE OF SWITCHING
BRANDS SIMPLY BECAUSE THEY
SEEK VARIETY

5. DECISION HEURISTICS ARE USED BY
CONSUMERS BECAUSE OF THEIR DEVIATIONS
FROM RATIONAL BEHAVIOUR

6. AVAILABILTY HEURISTIC
CONSUMERS MAKE THEIR PREDICTIONS BASED ON THE
QUICKNESS AND EASE WITH WHICH A PARTICULAR EXAMPLE
OF AN OUTCOME COMES TO MIND

7. REPRESENTATIVENESS
HEURISTIC
CONSUMERS BASE THEIR PREDICTIONS ON HOW
REPRESENTATIVE OR IMILAR THE OUTCOME IS TO
OTHER EXAMPLES

8. ANCHORING AND ADJUSTMENT
HEURISTIC
CONSUMERS ARRIVE AT AN INITIAL
JUDGEMENT AND THEN ADJUST IT
ACCORDING TO ADDITIONAL
INFORMATION

9. DECISION FRAMING IS
THE MANNER IN WHICH
CHOICES ARE
PRESENTED TO AND
SEEN BY DECISION
MAKERS

11. SEGREGATE
SMALL GAINS
FROM LARGE
LOSSES
INTEGRATE
SMALLER
LOSSES WITH
LARGER GAINS
SEGREGA
TE GAINS
INTEGRA
TE
LOSSES
THALER’S CORE
PRINCIPLES OF
MENTAL
ACCOUNTING