1. What are attitudes? Explain the multi-attribute attitude model. Explain why attitudes are important to marketers. (Note: to get full credit you must also write the formula and explain all of its components).

 

• In marketing attitude can be define as set of beliefs and emotions a consumer holds for a particular brand, product, service which determine the perception of the consumer towards the company.

• Multi attribute Model has three components:

1. Attributes
2. Beliefs
3. Weight

• Attitude is important factor in marketers because it decides how will the consumer respond to particular.

Step-by-step explanation

• Attitudes is a persons feelings beliefs or perceptions about a product or service. Attitude maybe negative or positive depending on the experience of the consumer on the brand.

• Multi Attribute Model

The multi attribute model provides a framework for understanding and assessing consumer attitude toward product, brand, or firm.

Attribute as differentiator= Beliefs (1-10 Scale)x Weight (1-10 Scale)

-By weighing beleifs and weight for each attribute it can help marketers to position the attributes of their products.

1. Attributes- are the characteristics of the product or brand.
2. Beleifs- reflects how much consumer beleives the product and will deliver the attribute.
3. Weight- are the significance of the attribute.

• The importance of the attitude to the marketers is it continually track consumer perception of their product quality and value. Attitudes are important because it frequently predict consumers behaviour.