As an Amazon Associate I earn from qualifying purchases.

What is Anchoring and Adjustment Heuristic in Marketing? PDF Download

Learn Anchoring and Adjustment Heuristic definition in marketing with explanation to study “What is Anchoring and Adjustment Heuristic”. Study anchoring and adjustment heuristic explanation with marketing terms to review marketing course for online MBA programs.

Anchoring and Adjustment Heuristic Definition

  • When consumers arrive at an initial judgment and then make adjustments of their first impressions based on additional information.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Anchoring and Adjustment Heuristic Explanation

Anchoring and adjustment defines the process where individuals basis their initial creative ideas on one allocated point. It is a cognitive process described by behavioral finance. It occurs during decision making process, where an individual believes on initial information in order to make final purchase decision regarding product which can be right or wrong.

Keep Learning Marketing Explanations

What is Straight Rebuy?

The procedure that happens when a shopper makes another buy of the indistinguishable products in the indistinguishable sum under the ...

What is Concentrated (niche) Marketing?

Niche marketing is a specific form of marketing. Consequently, other marketing technique follows wide range of consumers. This method is ...

What is Conventional Distribution Channel?

Conventional distribution channel is the most prevailing distribution channels in the market. It usually comprises of chain incudes; producer, retailer ...

What is Reliability?

Unwavering quality in insights and psychometrics is the general consistency of a measure. A measure is said to have a ...

What is Communication Adaptation?

Communication adaptation describes change in the product strategy due to the change in communication strategy. For example, a skin color ...

What is Marketing Logistics (or physical distribution)?

Promoting coordination's include arranging, conveying and controlling the progression of physical products, showcasing materials and data from the maker to ...