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.

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Chapter 5: Attitudes Based on High Effort

In order to keep with changing trends in the market, marketers need to help consumers form positive brand attitudes based on new beliefs and associations. These beliefs have a huge influence for customers on buying decisions. Dollar Tree was able to have a big influence on changing people's attitudes when it came to the products that they were offering. When the Covid-19 pandemic first hit, a lot of customers we're flooding the stores to get their hands on the desired products that they thought they needed due to the lockdowns that were placed. Due to the huge wave of customers hitting stores, a lot of desired products went out of stock real quick. Dollar Tree ended up benefiting from this because a lot of stores were running out of stock of a lot of products so customers had to turn to different alternatives. One of the hottest commodities during the pandemic was toilet paper. A lot people went overboard and ended up buying more than what they needed at big named retailers....

Chapter 14: Psychographics: Values, Personality, and Lifestyles

Examines the effect of these cultural influences on an individual level - namely, on values (deep-held beliefs), personality (consumer traits), and lifestyles (behavioral patterns that are manifestations of values and personality. (Mintap) Values According to the textbook, values are "enduring beliefs about abstract outcomes and behaviors that are good or bad, such as health, independence, family life, and peace." Shaping this into the dollar tree, most of society's pre-pandemic had a lower value view on the dollar tree but compared to now, it is encouraged to shop at a dollar store. The dollar tree may not hold a high materialistic value, but it allows for more sentimental value. With D.I.Y becoming a trend, many handmade gifts have held a higher value for some. Dollar Tree will enable customers to express their emotions fully. Personality Personality is customers' patterns that they may have picked up from growing up or from their parents. Researching and understand...

Chapter 9: Judgment and Decision-Making Based on Low Effort

In a recent post, we analyzed the high effort decision making, in which we went into depth about how labels and packing can influence customers' minds into buying a product. On the other hand, Low effort judgment and decision-making is how little time a customer spends choosing a product. The textbook states, " In some low-effort situations, consumers may decide without being consciously aware of how or why they are doing so. As much as 50 percent of all shopping decisions are made spontaneously and unconsciously while consumers are in the store." ( Unconscious Low-Effort Decision-Making) When a customer shops at a Dollar Tree, they know the item's quality will not be at the high end. The customer expects a convenience store where the options are not different and are equal in price. This allows the customer to go into an unconscious state where they can purchase their needs without putting much thought into them. Dollar Tree is the perfect store for those who do not...

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