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MKT 305 > Chapter 9 > Flashcards

Chapter 9 Flashcards

1
Q

purchase momentum

A

our initial impulse purchase actually increases the likelihood that we will buy even more

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2
Q

consumer hyperchoice

A

forces us to make repeated decisions that may drain psychological energy while decreasing our abilities to make smart choices

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3
Q

constructive processing

A

evaluate the effort we’ll need to make a particular choice and then tailor the amount of cognitive “effort” to get the job done

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4
Q

mental budget

A

helps us to estimate what we will consume over time so we can regulate what we do in the present

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5
Q

self-regulation

A

person’s efforts to change or maintain his or her actions over time

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6
Q

implementation intentions

A

dictate how much weight we give to different kinds of info, a timetable to carry out a decision, or even how we will deal w disruptive influences

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7
Q

counteractive construal

A

exaggerate negative aspects of behaviors that will interfere w the ultimate goal

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8
Q

feedback loop

A

provide ppl w info about their actions and give them a chance to change those actions so that they push them to improve ex: speed displays

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9
Q

morning morality effect

A

ppl are more likely to cheat, lie, or even commit fraud in the afternoon than in the morning

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10
Q

executive control center

A

important decision making, including moral judgments, can be worn down or distracted even by simple tasks like memorizing numbers

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11
Q

rational perspective

A

people calmly and carefully integrate as much info as possible w what they already know about a product

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12
Q

steps in cognitive decision-making process

A
  1. problem recognition- experience a significant difference between out current state and some state we desire
  2. information search- process by which we survey the environment for appropriate data to make a reasonable decision
  3. evaluate alternatives
  4. product choice
  5. postpurchase evaluation- occurs when we experience the product or service we selected and decide whether it meets our expectations
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13
Q

evoked set

A

alternatives we know about

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14
Q

consideration set

A

alternatives we seriously consider

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15
Q

feature creep

A

products have more and more features

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16
Q

neuromarketing

A

functional magnetic resonance imaging to track blood flow as we perform mental tasks to take an up-close look at how our brains respond to marketing messages and product designs

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17
Q

cybermediary

A

website or app that helps to filter and organize online market info so that customers can identify and evaluate alternatives more effectively

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18
Q

intelligent agents

A

software programs that use collaborative filtering technologies to learn from past user behavior to recommend new purchases

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19
Q

search engines

A

ex: bing, yahoo, youtube

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20
Q

search engine optimization

A

procedures companies use to design the content of web sites and posts to maximize the likelihood that their content will show up when someone searches for a relevant term

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21
Q

long tail

A

companies can make money if they sell small amounts of items that only a few ppl want if they sell enough different items`

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22
Q

hybrid products

A

feature characteristics from 2 distinct domains ex: cronut

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23
Q

category exemplars

A

tend to exert a disproportionate influence on how ppl think of the category in general

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24
Q

evaluative criteria

A

dimensions we use to judge the merits of competing options

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25
Q

determinate attributes

A

features we actually use to differentiate among our choices

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26
Q

compensatory rule

A

allows a product to make up for its shortcomings on one dimension by excelling on another

27
Q

simple additive rule

A

leads the option that has the largest number of positive attributes

28
Q

weighted additive rule

A

allows the consumer to take into account the relative importance of the attributes by weighting each one

29
Q

noncompensatory rule

A

an option doesn’t suit us on one dimension, we just reject it out of hand and move one

30
Q

lexicographic rule

A

“select the brand that is the best on the most important attribute”

31
Q

elimination-by-aspects rule

A

chooses a brand if it has all the cutoffs, rejects a brand that fails to meet any one cut-off

32
Q

habitual decision making

A

choices we make w little or no conscious effort

33
Q

inertia

A

involves less effort to throw a familiar package in the cart

34
Q

brand loyalty

A

pattern of repeat purchasing that involves a conscious decision to continue buying the same brand

35
Q

framing

A

how we pose the question to people or what exactly we ask them to do

36
Q

loss aversion

A

people hate losing things more than they like getting things

37
Q

prospect theory

A

analyze how the value of a decision depends on gains or losses

38
Q

sunk-cost fallacy

A

if we’ve paid for something we’re more reluctant to waste it

39
Q

behavioral economics

A

focuses on the effects of psychological and social factors on the economic decisions we make

40
Q

priming

A

cues in the environment that make us more likely to react in a certain way even though we’re unaware of these influences

41
Q

nudge

A

deliberate change by an organization that intends to modify behavior

42
Q

default bias

A

more likely to comply w a requirement than to make the effort not to comply

43
Q

bounded rationality

A

“good enough” perspective

44
Q

heuristics

A

“mental rules-of-thumb”; shortcuts

45
Q

country of origin

A

companies often go out of their way to link a brand w a specific country ex: Italian sports car

46
Q

organizational buyers

A

ppl who purchase goods and services on behalf of companies for the companies’ use in manufacturing, distribution, or resale

47
Q

buyclass theory of purchasing

A
  1. level of info he or she must gather prior to the decision
  2. seriousness w which he or she must consider all possible alternatives
  3. degree to which he or she is familiar w the purchase
48
Q

straight rebuy

A

habitual decision; automatic choice when inventory level reaches a preestablished reorder point

49
Q

Modified rebuy

A

occurs when an organization wants to repurchase a product but also wants to make some minor modifications

50
Q

new task

A

extensive problem solving; often serious risk involved

51
Q

B2B e-commerce

A

internet interactions between 2 or more businesses or organizations

52
Q

prediction market

A

group of ppl w knowledge about an industry are, collectively, better predictors of the future than are nay of them as individuals

53
Q

crowdsourcing

A

practice of soliciting ideas for new products and even advertising campaigns from a user community

54
Q

wisdom of crowds

A

groups are smarter than the smartest people in them

55
Q

consensual purchase decision

A

members agree on the desired purchase and disagree only in terms of how to make it happen

56
Q

accommodation purchase decision

A

can’t agree on a purchase that satisfies everyone’s needs

57
Q

interpersonal need

A

level of investment in the group

58
Q

synoptic ideal

A

husband and wife to act a s joint decision makers

59
Q

automatic decision

A

when one family member chooses a product

60
Q

juggling lifestyle

A

frenzied, guild-ridden compromise between conflicting cultural ideals of motherhood and professioalism

61
Q

kin-network system

A

maintain ties among family members, immediate and extended

62
Q

dadvertising

A

commercials that depict a domestic version of fathers who tenderly and wisely look after the kids

63
Q

home shopping party

A

capitalizes on group pressures to boost sales ex: pure romance

64
Q

social shopping

A

allows online shopper to simulate the experience of shopping w others in a brink-and-mortar store ex: try on via an avatar

MKT 305 (11 decks)

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