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Marketing: Consumer Behavior Exam 1 > Consumer Behavior > Flashcards

Consumer Behavior Flashcards

Exam 1

1
Q

Two perspectives on consumer behavior

A

Actual human thoughts, feelings, and ACTIONS involved in consumption experiences.
A FIELD OF STUDY (human inquiry) developing an accumulated body of knowledge about human consumption experiences.

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2
Q

The basic consumption process

A

Need – Want – Exchange – Costs and Benefits – Reaction – Value

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3
Q

Basic characteristics of consumption

A

Consumption – the process by which consumers use and transform goods, services, or ideas into VALUE

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4
Q

Economics vs. Consumer behavior

A

Economics – the study of PRODUCTION and CONSUMPTION
Consumer behavior (CB) – often studied at a MICRO LEVEL, focusing on INDIVIDUAL consumers rather than countries.

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5
Q

Two factors affecting service quality

A

How competitive is the marketing environment?
How dependent is the marketer on repeat business?

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6
Q

Governmental controls for fair competition

A

In the U.S., the Robinson–Patman Act, the Sherman Act, and the Clayton Act restrict practices such as PRICE FIXING, secret rebates, and customer coercion.

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7
Q

Relationship marketing

A

Activities based on the belief that a firm’s performance is enhanced through REPEAT BUSINESS.

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8
Q

Consumer behavior field’s roles

A

Provides input to business/marketing strategy
Shapes society
Helps in making responsible decisions as a consumer

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9
Q

Resource-advantage theory

A

A theory explaining why companies succeed or fail.

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10
Q

Product – Attribute – Benefit

A

Attribute – a part of a product that potentially delivers a BENEFIT of consumption.
Product – a bundle of benefits.
Products are PATHWAYS TO BENEFITS.

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11
Q

Characteristics of successful innovations

A

Relative Advantage
Observable
Consistency
Triability
Simplicity

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12
Q

Different ways of doing business

A

Undifferentiated Marketing – Product – Segment
Differentiated Marketing – (Product 1, Product 2, Product 3) – (Segment 1, Segment 2, Segment 3)
Niche Marketing – Product 1 – Segment 1

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13
Q

Consumer behavior and society

A

Consumer behavior creates the SOCIETY we live in and influences public policy.

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14
Q

Consumer behavior and personal growth

A

Topics to be aware of: BUDGET ALLOCATION, Emotions, Unethical Sales Practices, Social Influences, Environment

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15
Q

Two basic approaches to studying consumer behavior

A

Interpretive Research
Quantitative Research

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16
Q

Characteristics of interpretive research

A

Qualitative Research Tools (e.g., case analysis, clinical reviews, focus groups)
Research Dependent (Subjective Opinion)

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17
Q

Phenomenology vs. Ethnography

A

Phenomenology – interprets individual consumer experiences.
Ethnography – interprets COLLECTIVISTIC experiences to draw conclusions about consumption.

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18
Q

Characteristics of quantitative research

A

Statistical Analysis
Surveys
Numerical Measurement
Hypotheses
Not Researcher Dependent

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19
Q

Big data

A

Massive amounts of data that can potentially be used to PREDICT customer behaviors.

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20
Q

Changing demographics

A

Households increasingly have TWO PRIMARY income providers.
Family size is DECREASING in most Western cultures.

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21
Q

Changing and sharing economy

A

PRIVATE LABEL brands as money-saving alternatives.
Sharing economy – rental rather than ownership.
Collaborative consumption – CONSUMER TO CONSUMER rental.

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22
Q

Ultimate outcome of the consumer value framework

A

Internal Influences – Consumption Process (Value, Relationship Quality) – External References

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23
Q

Major components of CVF

A

Relationship Quality (Connectedness) – Customer Relationship Quality (Information about customers)

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24
Q

Customer relationship management

A

Systematic information management system collecting detailed customer information for a customer-oriented approach.

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25
Q

Internal influences

A

Cognition – Thinking or mental processes.
Affect – Feelings associated with objects or activities.
Personality – Individual characteristics and traits.

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26
Q

External influences

A

Social Environment – Influence of others on decision making and value.
Situational Influences – Unique time/place factors affecting decision making and value.

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27
Q

Utilitarian value

A

Gratification derived from solving a problem or accomplishing a task.

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28
Q

Hedonic value

A

Value derived from immediate gratification.

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29
Q

Examples of hedonic and utilitarian values

A

Hedonic Value: Netflix entertains.
Utilitarian Value: Amazon solves a need or problem.

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30
Q

Marketing strategy

A

The way a company creates value for customers.

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31
Q

Marketing myopia

A

A shortsighted view of being in a product business rather than a value or benefits-producing business.

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32
Q

Corporate strategy

A

The definition and general goals of a firm.

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33
Q

Marketing tactics

A

Implementation involves decisions on Price, Promotion, Product, and Distribution.

34
Q

Relationships among corporate strategy, marketing strategy, and marketing tactics

A

Corporate Strategy – Marketing Strategy – Marketing Tactics

35
Q

Value co-creation

A

Realization that a consumer must participate in producing value.

36
Q

Liquid consumption

A

Consumers extract value from immediacy and virtual connections rather than ownership.

37
Q

Market segmentation

A

Separation of a market into groups based on different demand curves.

38
Q

Backward sloping demand

A

A positive relationship between price and quantity.

39
Q

Blue ocean strategy

A

Positioning a firm far from competitors to create its own industry and isolate itself from competitors.

40
Q

Perceptual map vs. Strategy canvas

A

Perceptual Map – Graphically depicts the positioning of competing products.
Strategy Canvas – A perceptual mapping technique involving more than two dimensions.

41
Q

Customer lifetime value

A

The approximate worth of a customer to a company in terms of overall profitability.

42
Q

Learning vs. Perception

A

Learning – Change in behavior from interaction with a stimulus.
Perception – Awareness and interpretation of reality.

43
Q

Perception and reality

A

Perceptions do not always match real-world conditions.

44
Q

Exposure, sensation, attention, and comprehension

A

Exposure – Bringing a stimulus within proximity.
Sensation – Immediate response to a stimulus.
Attention – Allocation of processing capacity.
Comprehension – Deriving meaning from information.

45
Q

Relationships among sensing, organizing, and reacting

A
  1. Sensing 2. Organizing 3. Reacting
46
Q

Sensing

A

Immediate response to stimuli from the five senses.

47
Q

Grounded cognition

A

Theory suggesting that bodily sensations influence thoughts and meanings.

48
Q

Organizing

A

Different outcomes based on categorization difficulties: Assimilation, Accommodation, Contrast.

49
Q

Assimilation vs. Accommodation vs. Contrast

A

Assimilation – Recognizing a stimulus as belonging to a specific category.
Accommodation – Stimulus shares some but not all characteristics.
Contrast – Stimulus does not fit existing categories.

50
Q

Selective perception

A

Selective Exposure – Selective Attention – Selective Distortion

51
Q

Subliminal processing

A

Human brain processes very low strength stimuli without conscious awareness.

52
Q

Subliminal persuasion

A

Behavior change induced by subliminal processing.

53
Q

JND and Weber’s Law

A

JND (Just Noticeable Difference) – Noticing differences between stimuli.
Weber’s Law – Ability to detect differences decreases as initial stimulus intensity increases.

54
Q

JMD

A

Just Meaningful Difference – Smallest change influencing consumption and choice.

55
Q

Explicit memory, implicit memory, and preattentive effects

A

Explicit Memory – Deliberate recollection of information.
Implicit Memory – Intuitive, non-deliberate memory.
Preattentive Effects – Learning without attention.

56
Q

Mere exposure effect

A

Consumers prefer stimuli they’ve been exposed to previously

57
Q

Subliminal messages vs. mere exposure effect

A

Subliminal Messages – Presented below perception threshold.
Mere Exposure Effect – Preference for stimuli due to prior exposure.

58
Q

Mere association effect

A

Transfer of meaning between objects that are similar by accidental association.

59
Q

Factors that help create attention

A

Intensity of stimuli, Contrast/Surprise, Movement, Size, Personalization, Involvement

60
Q

Unintentional learning vs. Intentional learning

A

Unintentional Learning – Behavior change through intuitive processes.
Intentional Learning – Deliberative effort to learn information.

61
Q

Theories relevant to unintentional learning

A

Classical Conditioning – Instrumental Conditioning

62
Q

Classical conditioning

A

Behavioral change through associating a stimulus with another that naturally causes a reaction.

63
Q

Unconditioned stimulus, conditioned stimulus, unconditioned response, and conditioned response

A

Unconditioned Stimulus – Stimulus with an already associated response.
Conditioned Stimulus – Stimulus that can be conditioned to evoke a response.
Unconditioned Response – Natural response to an unconditioned stimulus.
Conditioned Response – Response from a conditioned stimulus.

64
Q

Instrumental conditioning

A

Learning where a behavioral response is conditioned through reinforcement (rewards or punishments).

65
Q

Nudge marketing

A

Influencing consumers through subtle stimuli without deep cognitive processing.

66
Q

Pseudo-set framing

A

Motivates consumers to complete sets whether real or imagined.

67
Q

Signal theory

A

Communications convey meaning beyond the explicit or obvious interpretation.

68
Q

Three major factors affecting consumer comprehension

A

Characteristics of the Message
Characteristics of the Receiver
Characteristics of the Communication Environment

69
Q

Simplicity and meaningful comprehension

A

Simpler messages are more likely to be comprehended meaningfully.

70
Q

Result of moderate levels of incongruity

A

Improved comprehension.

71
Q

Figurative language and value

A

Use of expressions to convey nonliteral meaning.

72
Q

Outcomes of high involvement

A

Consumers pay more attention and are more open to ads.

73
Q

Expectation and satisfaction

A

Beliefs about future situations affect satisfaction.

74
Q

Framing

A

The influence of information environment on the perceived meaning.

75
Q

Prospect Theory

A

Framing affects risk assessments consumers make.

76
Q

Negatively framed information

A

Primes losses, leading consumers to avoid.

77
Q

Message media

A

Paper messages are often better comprehended than digital ones.

78
Q

Characteristics of sensory memory

A

Storage of stimuli from the five senses.

79
Q

Characteristics of workbench memory

A

Duration, Capacity, Involvement

80
Q

Dual coding and chunking

A

Dual Coding – Using two different sensory traces to remember something.
Chunking – Organizing information into manageable units.

81
Q

Long-term memory

A

Unlimited duration and capacity for storing all encountered information.

82
Q

Semantic coding

A

Converting stimuli into meaningful verbal expressions.

Marketing: Consumer Behavior Exam 1 (1 decks)

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