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MKTG 371 > EXAM 2 > Flashcards

EXAM 2 Flashcards

Memory, problem recognition and information search, high and low efforts, post decision process

1
Q

why do we care about memory in mktg?

A

bc it affects perceptions, decision making, and the effectiveness of marketing

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2
Q

what is sensory registry?

A

information that comes through our senses: echoic (things we hear) and iconic (things we see)

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3
Q

what is short term memory?

A
  • position of memory where incoming info is encoded and interpreted
  • has a limited capacity: increased for higher involvement
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4
Q

what is miller’s magic number?

A

7 + / - 2

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5
Q

what is long term memory?

A
  • permanently stored knowledge
  • large storage capacity
  • info is not lost, but sometimes cannot be found
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6
Q

what is autobiographical memory?

A

specific to our experiences

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7
Q

what is semantic memory?

A

general knowledge about the world

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8
Q

what is implicit memory?

A

memory for skills
- ex: riding a bike

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9
Q

what is discursive and imagery processing?

A
  • discursive processes info as words
  • imagery processes info as images (duh)
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10
Q

what are 4 ways to improve memory?

A
  1. rehearsal
  2. recirculation: when you remember it bc you encounter it a lot (associative learning)
  3. elaboration: relating the info to what you already know or think about
  4. chunking: grouping multiple items as a single unit
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11
Q

how can marketers improve memory?

A
  • simple messages
  • repetition
  • elaboration
  • strong imagery
  • relatable characters and contexts
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12
Q

how is memory organized?

A
  • concepts, feelings, and events are stored in nodes
  • associative links connect these nodes
  • links in networks are created through knowledge and experience
  • when one node is activated, it spreads along associative links toward related concepts
  • ex.: zebra → animal → zoo → SD Zoo → SDSU
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13
Q

how do links and nodes influence memory retrieval?

A
  • marketers try to strengthen links between brands and associations
  • responsible for false recall
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14
Q

implicit vs. explicit memory

A
  • explicit: memory achieved through active attempts to remember (recognition, recall)
  • implicit: memory for things without conscious awareness
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15
Q

what are the retrieval failures?

A
  • decay: the weakening of nodes or links over time
  • interference: causes us not to remember which features go with which brand or concept
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16
Q

how is retrieval enhanced?

A
  • salience: if something stands out from the larger context in which it is placed bc it is: brought, big, complex, moving, etc.
  • prototypicality: easier to recognized, likely to be linked to many other concepts in memory
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17
Q

memory takeaway

A

all consumer decisions include some component of memory (so obvi marketers should give af)

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18
Q

what is the decision making process?

A

problem recognition → info search → evaluation of alternatives → purchase decision → post purchasew

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19
Q

what is extended problem solving?

A
  • eventual purchase decision is perceived as a risk or highly involving
  • consumer collects lots of info (external and internal)
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20
Q

what is limited problem solving?

A
  • simple and straightforward
  • it’s not that deep
  • lower risk and involvement
  • less searching
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21
Q

what is automaticity?

A

choices made with little to no conscious effort

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22
Q

when does problem recognition occur?

A

when a consumer detects a difference between current and ideal state

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23
Q

what is need vs. opportunity recognition?

A
  • need: actual state moves downward (ex. running out of a product, buying a deficient product)
  • opportunity: ideal state moves upward (ex. exposed to different or better quality products)
24
Q

what do consumers look for for information?

A

brands, attributes, experiences, etc.

25
Q

how does consumer expertise affect their search?

A
  • moderately knowledgeable consumers tend to search more than experts and novices
  • experts: selective
  • novices: uses other ppl’s opinions
26
Q

what is internal vs. external searching?

A
  • internal: scanning memory to recall stuff
  • external: getting info from ads, retailers, catalogs, other ppl, etc.
27
Q

problem recognition and information search takeaway

A

consumers do both internal and external searches to find info about how to get from their actual state to ideal state

28
Q

what are low effort decisions in mktg?

A
  • most daily decisions are low effort
  • for many products, consumers are not that interested or involved
29
Q

why do we use heuristics?

A

bc it makes things easier and humans are lazy

30
Q

what is the availability heuristic?

A

forming a judgement based on what info is readily available or what comes to mind quickly and easily

31
Q

what is the representativeness heuristic?

A

if it seems it would be true, it must be true (ex. before and after picture of a whitening toothpaste)

32
Q

what is base rate neglect?

A

when we use irrelevant info to make a probability judgement (ex. asking a server what they like on the menu. why tf that matter?)

33
Q

what are sunk costs?

A

costs that have incurred that you cannot get back

34
Q

what are the halo and horns effect?

A
  • halo: assuming if someone has one good attribute, they must have all good attributes (ex. attractive ppl are seen as smarter, funnier, etc.)
  • horns: opposite of halo
35
Q

what is the confirmation bias?

A

we see what we expect to see (ex. unhealthy food is yummylicious)

36
Q

what is the optimism bias?

A

thinking bad things happen to other people, but not ourselves
- in mktg: marketers need to convince ppl they actually are at risk

37
Q

what is the egocentric bias?

A
  • thinking other people think the same way you do; you think ppl are more like you than they actually are (ex. i think X politician is an idiot and other ppl feel the same way)
  • a tendency to overestimate how well we communicate with others
38
Q

what is the outgroup homogeneity bias?

A

thinking ppl outside of your group in another group are all the same (ex. ppl looking at kpop idols and saying they all look the same)
- the tendency for ppl in a group to see themselves as more diverse

39
Q

what is the family influence effect?

A

the tendency to buy the same products your parents bought (intergenerational effect)

40
Q

what is brand loyalty?

A
  • an emotional connection with a brand bc of shared values, experiences, etc. that contributes to the emotional attachment to the brand
  • makes decision making easier
41
Q

what is the status quo bias?

A

the repeated decision if that is an option

42
Q

what is the fundamental attribution error?

A

when we see negative behavior in another, we attribute it to the person instead of the situation; we do the opposite for ourselves (ex. if someone is late, we assume it is bc of smth with them)

43
Q

what does choice overload lead to (POC book)

A

more stress and anxiety, we are less happy with our choice, we are thinking about the other choices, we are not as satisfied

44
Q

what is willful ignorance?

A

the tendency to avoid information, while useful and important, could cause emotional unease (ex. if you think gaining some info will make you feel negative, you might willingly ignore it)

45
Q

why should marketers care about after a sale?

A
  • repeat purchases
  • word of mouth (WOM)
  • post decision regret
45
Q

what is the compensatory decision process?

A
  • cost and benefit analysis
  • good can make up for the bad
45
Q

what is self control and how can we increase it?

A
  • the ability to focus on the long term rather than short term goals
  • increasing it: get rid of temptation, limit availability, distract yourself
45
Q

what is non-compensatory process?

A
  • simpler decision models
  • bad cannot be compensated
45
Q

why do we like variety?

A
  • satiation (quench)
  • stimulation
  • preference uncertainty
45
Q

expectancy disconfirmation model

A
  • Actual performance = product expectations
  • Actual is below expectations → dissatisfied
  • Actual is = to expectations → satisfied
  • Actual is above expectations → delighted
46
Q

what is post decision regret?

A
  • dissonance you feel after your decision
  • easing it: make customers feel good about their purchases (thank you notes), make customers feel confident about their purchase (warranties)
46
Q

how can marketers manage expectations?

A
  • underpromise and overdeliver
  • spell out clear definitive simple messages
  • set expectations accurately
  • communicate consistently
47
Q

what is the attribution of blame theory?

A
  • When something goes wrong, people want to know who to blame
  • Factors that influence who gets blamed and how much blame is given
    1. Stability: is the cause of the event temporary or permanent ?
    2. Controllability: is the event under the consumer or marketer’s control?
48
Q

what is the equity theory?

A

explains how we feel about if we pay a certain amount and someone else pays the same amount, we expect our return to be the same as the other person

49
Q

what is satisfaction research?

A

exploring differences between the process of choosing and the actual choice

50
Q

why do marketers need to understand disposal?

A
  • need to understand reasons for product replacement
  • may want to shape product lifespan
  • need to understand flow of used goods

MKTG 371 (1 decks)

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