TWO METHODOLOGICAL APPROACHES TO COGNITIVE ALGEBRA OF PURCHASE CHOICE
A consumerâ€™s evaluation of a product is affected by several factors. Information integration theory assumes that the evaluation process consists in a combination of information integration rules known as cognitive algebra. Functional measurement methodology applied to information integration theory provides the way of determining the most adequate integration function. Conjoint analysis was originated in mathematical psychology and developed in market research by Paul Green to determine the factors that predict consumer preferences for multi-attribute options about a wide variety of products and which combination of a limited number of attributes is most influential on respondent choice. In the present study, consumersâ€™ perceptions have been evaluated regarding three different prices, discounts, and brands of milk. Both functional measurement and conjoint analysis were used with the aim of estimating all the possible effects of interaction. The results are discussed in light of these two methodological frameworks.