Chapter 8: Judgment and Decision-Making Based on High Effort

 As mentioned in our past blog posts talking about and analyzing Dollar Tree's approaches to their marketing strategies and etc. The strategies are unique to their mission and goals.  We haven't discussed the judgment and decision-making based on the high effort portion yet. Judgment is an "evaluation of an object or estimation of the likelihood of an outcome or event." This occurs when a customer conducts the decision-making process by estimating the value of the product like how much is offered for the price and the benefits and downsides of the brand or products. Customers also take a lot of information about the product or brand to evaluate whether it is worthy to be purchased or not. In a Dollar Tree store of course the quality is not going to be expensive so the judgement process would not be as rigourous compared to a higher end store with different types of quality for products to choose from. 

In this particular case, we are talking about providing products that do not exceed one dollar and fifty cents. Consumers always think about the cons and benefits before they buy the products and dollar tree. However, there are some consumers that buy impulsively. Meaning that they do not think when they are buying. The consumers that do think before they choose to buy something go through the high effort decision-making process. This is when they decide which brands to consider (developing the consideration set) like in Dollar Tree the brands don't really matter since they are worth the same for the quanitity. Another factor would be what is important to the choice (how it is affected by goals, decision timing, and decision framing) like how ergently do I need this product from Dollar tree? Does it satisfy my needs?. Another factor would be what offerings to choose from. Finally, the last factor would be what to do when alternatives cannot be compared (when they can use an alternative-based or attribute-based strategy). This factor would probably be the most encountered issue because the store has products that are worth around the same and the quality is about the same so it is harder to compare and make a decision.