Final answer:
A multi-attribute model for fast food restaurants involves listing brands, intuitively picking a favorite, deciding on important attributes, rating the importance and beliefs, calculating scores, and examining if the scores align with intuition.
Step-by-step explanation:
To construct a multi-attribute model for fast food restaurants, let's follow these steps:
- List 4-5 major brands: McDonald's, Subway, Burger King, KFC, and Taco Bell.
- Pick your favorite brand based on intuition: Let's say Subway.
- Decide 4-6 important attributes: Food Quality, Price, Service Speed, Nutritional Value, and Location Convenience.
- Rate the importance of each attribute on a 1-5 scale where 1 is least important and 5 is very important: Food Quality (5), Price (4), Service Speed (3), Nutritional Value (4), Location Convenience (2).
- Rate the attribute beliefs for each brand on a 1-5 scale where 1 is very bad and 5 is very good. Example for Subway: Food Quality (4), Price (3), Service Speed (4), Nutritional Value (5), Location Convenience (4).
- Calculate the total attitude score for each brand by multiplying the importance rating by the belief rating for each attribute and summing them up. For Subway: (5×4) + (4×3) + (3×4) + (4×5) + (2×4) = 71.
Comparing the total attitude scores for all brands will reveal if the intuition matches the more analytical approach. If another brand scores higher than Subway, but you still prefer Subway, it might be due to unaccounted attributes or personal biases not reflected in the model.