3/4 of course Flashcards
calorie intake is increased by:
- More choices (especially online)
- More convenience
- Larger portion sizes
- Evolutionary influences
what is precommitment?
making a binding decision ahead of time
when is precommitment effective?
- when they are credible
- when you make them initially small and then later larger
how do you maximize self-control?
- reduce temptation
- memory (cues)
- clear goals
- monitoring
Successful firms launch newer/better products over time because:
- Customers’ ideal points for attributes go up over time due to competing firms offering better products/features => lower choice for current product
- Customers become used to current performance over time => lower surprise/satisfaction for current product
what are the reasons for the attitude behaviour gap?
- Low Budget
- Long Purchase Cycle
- High Competition
- Low Memory During Choice
what can manager do to reduce attitude behaviour gap?
reminder, implementation method, behaviour consistency
what is the new product development process?
- idea generation
- idea screening
- concept development and testing
- marketing strategy development
- business analytics
- product development
- market testing
- commercialization
what are key attributes of new products?
- relative advantage
- use innovativeness
- Price
- Switching Costs
- Trialability
- Complexity
what is concept testing?
- Ask target consumers to see/use prototype
- Measure response of target consumers
what activities can consumers do on the internet?
- Commerce
- Information
- Connection
- Entertainment
What benefits can consumers get on the internet? (CICE)
- More Choices
- More Information
- More Convenience
- More Efficiency
what is collaborative filtering (recommendations)?
putting a target customer in a group of like-minded customers and give recommendations based on what other people in the group have watched
what is content-based filtering (recommendations)?
take one individual customer and analyze their data over time to fit the best model
what is the sleeper effect?
forget the source, remember the allegation
how do you reduce temptation?
- Structural barriers (imposed by others)
- Memory (get rid of cues/things that remind you of the behaviour you’re trying to stop)
how do you increase self-control?
- Goals, monitoring, capacity
- Social pressure
- Increase motivation, ability, opportunity
