Chapter 13-16 Flashcards
CHAPTER 13:
What is Hedonic criteria?
Hedonic value is emotional, symbolic and subjective attributes of the purchase.
Eg. A teenager’s emotional attachment to a gaming console is a hedonic criterion
CHAPTER 13:
What is Utilitarian criteria?
Utilitarian criteria is determined by the Functional or Economic aspects of the purchase.
Eg. The low cost of the gaming console is a utilitarian criterion
CHAPTER 13:
What is bounded rationality?
Bounded rationality means perfectly rational decision which are not made feasible.
Regardless of their level of intelligence and are forced to work under unavoidable constraints Eg. unreliable, information and capacity to evaluate.
Chapter 13:
What is consumer judgement and are the factors which consumer make judgement about?
Consumer judgement is the mental assessments of presence attributes as well as the benefits.
The factors which consumers make judgments about: Presence of features Feature levels Benefits associated with features Value associated with the benefit How objects differ from each other
Chapter 13:
Distinguish between compensatory and non-compensatory rules that guide consumer choice.
Compensatory rules:
Allow consumers to select products that may perform poorly on one attribute by compensating for the poor performance by good performance on another attribute
Non compensatory rules:
Strict guidelines are set prior to selection, and any option that does not meet the specifications is eliminated from consideration
Chapter 13:
What is the non-compensatory model?
Conjunctive Rule
Disjunctive Rule
Lexicographic Rule
Elimination-By-Aspect Rule (EBA)
Chapter 13:
What is Affect Based Evaluation and Attribute Based Evaluation?
Affect-based evaluation:
Evaluate products based on the overall feeling that is evoked by the alternative.
Attribute-based evaluation:
Evaluate alternatives across a set of attributes that are considered relevant to the purchase situation
Chapter 14:
What are the different goods?
Durable goods - Goods consumed over long periods of time. eg. a washing machine is an example of a durable good.
Non-durable goods - Goods consumed quickly eg. a cup cake is an example of a non-durable good.
Consumption frequency- How many times each is good is used or frequented.
Chapter 14:
What is satisfaction and dis-satisfaction?
Satisfaction:
A mild, positive emotional state resulting from a favorable appraisal of a consumption outcome.
Dissatisfaction:
A mild, negative affective reaction resulting from an unfavorable appraisal of a consumption outcome.
Chapter 14:
What is cognitive dissonance? and the four conditions of cognitive dissonance
Lingering doubts about a decision that has already been made. Sometimes known as buyer’s regret.
Conditions include:
Consumer is aware that there are many attractive alternatives.
Decision is difficult to reverse
Decision is important and involves risk
Consumer has low self-confidence
Chapter 14:
What is the post consumption expectancy theory?
Expectancy / Dis-confirmation-
Predictive, Normative, Ideal
Equity- consumers cognitively compare their own level of inputs and outcomes to those of another party in an exchange
Attribution - Why a certain even occurred. Elements include:
Locus - Judgments of who is responsible for an event
Control - The extent to which an outcome was controllable
Stability - The likelihood that an event will occur again.
Chapter 15:
What is critical incident?
Critical incident is the exchanges between consumers and business that the consumer views as unusually negative
Chapter 15:
What us procedural justice?
Procedural justice is defined as the extent that consumers believe the processes involved in processing a transaction, performing a service or handling a complaint is fair.
Chapter 15:
What is complainant behavior? and what is the difference between a complainer and non complainer?
Complainant occurs when a consumer actively seeks out someone to share an opinion with regarding a negative consumption event
Complainers:
Tell others when the company performs poorly.
Potential valuable source of information.
More likely to become satisfied with company intervention.
More likely to return following exchange.
Non-Complainers
May tell friends/family about poor performance
Not as valuable to firm because they don’t complain.
Preemptive action must be taken to create satisfaction.
Chapter 15:
What are the implications of word of mouth?
Negative:
Takes place when consumers pass on negative information about a company from one to another.
Positive:
Occurs when a consumer spreads information from one to another about positive consumption experiences with companies.
