Exam 2 Vocabulary Flashcards
Attitude
an overall evaluation of how much we like or dislike
Attitudes can be based on… (2)
Cognitions (thoughts)
Affect (feelings)
Cognitive response
the thoughts we have when we see message
Cognitive responses can be classified as… (3)
- Counterarguments
- Support arguments
- Source derogations
Counterargument
“This product will never work.”
Support arguments
“This product sounds great!”
Source derogations
“This guy was paid to say this.” (mismatch between product and source.)
1-vs.2-sided marketing
REMEMBER: Only talk about your product
1 sided: only talk about good things
2 sided: presents both sides of argument (e.g., Listerine tastes bad but you know it works!)
Comparative marketing
Compare your product to another product and only give the positives of your product (paper towels, dating sites, Mac vs. PC)
Affective foundations of attitudes
Consumers use their feelings as a source of information and rely on those feelings to evaluate stimuli (such as the ads)
When do fear appeals work? (4)
- Must suggest immediate action that will reduce fear
- Moderate level of fear
- Depends on consumer’s motivation to process info (context)
- Source must be credible
Classical conditioning in marketing
Consumers conditioned to associate product with positive things – in the store, consumer will still feel positive stimulus from association
Consumer memory
Our own PERSONAL storehouse or prior knowledge about products, services consumption experiences, etc.
Sensory memory
Our ability to store sensory experiences temporarily as they are produced– stored in sensory form (“amazing” as it sounds, not as a synonym)
Short-term memory
Where we encode or interpret incoming information in light of existing knowledge. Limited, short-lived. Where most of our processing takes place.
Long-term memory
Info transferred from short-term to long-term memory for retrieval later. Where info is ultimately stored. Unlimited capacity and duration
Two types of long-term memory
- Semantic: knowledge @ world that is detached from specific episodes (shared knowledge)
- Autobiographical: knowledge @ ourselves and our past- personal and idiosyncratic
Nostalgia marketing
Makes you feel like semantic memories are autobiographical
Misremembering
brain looks for patterns and tries to make meaning wherever it can (sleep example)
Schemas
Set of associations linked to a concept
Associative network
Connects many schemas– consumers store concepts, feelings, events in “nodes” that are connected by varying strengths
How is memory enhanced through marketing? (3)
- Chunking (acronyms, telephone numbers)
- Rehearsal (jingles)
- Recirculation (repeat same basic msg.)
Stages of consumer decision making (4)
- Problem recognition
- Information search (internal or external)
- Evaluation of alternatives
- Product choice
Decision framing
How a task is defined or represented (menu engineering!)
External framing
Framing by marketer (75% lean vs. 25% fat)
Framing by consumer
Based on personal goals (e.g., justifying buying clothes to look more professional)
Availability heuristic
When examples are easily brought to mind, people see the event as more likely. It’s a mental short-cut
Anchoring
When an initial value is presented, people anchor and make adjustments. However, the adjustments are typically insufficient
Operant conditioning cycle for consumers
Tactic –> Choice –> Usage –> Outcome –> Learning
Brand loyalty tactic
Would turn down other brands in favor of Brand A
Price tactic
Go with cheapest option
Normative tactic
Influenced by others
Affect tactic
Emotion
Variety-seeking tactic
Goal is to change it up
Choice overload
Consumers paralyzed by too many choices and not as likely to purchase (jam study) consumers use shortcuts (heuristics) when making judgments and decisions
Maximizer
will not be satisfied unless you look at all options
Satisficers
will choose something that just passes their threshold
Post-decision regret
Regret after the decision, duh
Anticipated regret
regret before decision, may cause decision paralysis
Near miss
when you were close to the desired outcome
Counterfactual
thinking about what could be- the ideal
Sunk cost
cost that is no longer relevant because money has been spent (irrational to make decisions based on sunk costs)
Consumer satisfaction
When consumer feels their needs have been met :)
Consumer dissatisfaction
when consumers have a negative evaluation of an outcome
What is the key to consumer satisfaction?
Expectations management
Negative WOM
When consumers are motivated to tell others in order to relieve frustration and convince others not to do business with the company– spreads VERY quickly (thanks, Facebook.)
Fundamental Attribution Error
Ignoring influence of situation on behavior and emphasizing personality traits alone
How can a company handle a PR nightmare?
- Admit mistake, offer resources
- Financial compensation
- Keep people informed (avoid FAE!)
- Keep brand ambassadors happy
Affective forecasting
Predicting what makes us happy
Hedonic treadmill
You become acclimated to what you have and it loses its ability to make you happy (kind of like habituation)
What makes us happy? (3 main things)
- Expressing gratitude
- Cultivating optimism
- Doing more of what engages you (FLOW!)
- Acts of kindness, nurturing relationships, practicing religion, taking care of your body
FLOW
Balance between skill set and difficulty - active engagement
Hedonic adaptation
Within two years of a major event, most people return to their standard level of happiness
