EXAM THREE Flashcards
Voicer Complainers
Complain to company
What is Prospect Theory?
Making decisions based on gains and losses; gains and losses are viewed differently
Free Flow Model
Encourages browsing in the store, however not able to display as many products
Noticeable features of a space (Color, Store Layout)
Design Factors
Irate Complainers
Boycott
Name all types of Choice Tactics
- Performance
- Price
- Habit
- Brand Loyalty
- Variety Seeking
- Impulse
- Brand Familiarity
Awareness Set
Brands a consumer is aware of
Inert Set
Indifferent towards options
Low cost, frequent purchases, little thought, little involvement
Habitual Problem Solving
Activists Complainers
Other external sources
Consumers create “mental tabs” that go into specific accounts
Mental Accounting
Evaluations someone makes of the alternatives when going through the decision-making process
Judgements
Time influences on consumer behavior
Temporal Surroundings
Owning an item increases its value
Endownment Effect
Compensatory Model
Weigh positive and negative attributes (positive compensates negative)
Final choice that is made based on attitudes and judgements
Decisions
Expectation that a small number of people represents the larger population
Law of Small Numbers
Customers make predictions about future emotions and outcomes
Affective Forecasting
Seeking confirming information
Confirmation Bias
The state you wanna be at
Ideal States
Consumers actively put off making a decisions
Decision Delay
Conjunctive Model
Processing by brand, setting a minimum cutoff level, first brand that meets expectations is selected
Loop/Racetrack Model
Easily draws customer around the entire store, not ideal for high traffic stores
Minimal difference between actual and ideal states
No Problem State
Feelings about money influences how money is spent, intensity of feelings associated with each mental account
Emotional Accounting
More expensive products, infrequent purchases, unfamiliar products with extensive thought
Extensive Problem Solving
Evaluating the fairness of the exchange itself or fairness compared to others
Equity Theory
Strike Zone
Customers generally turn right in the store
Multi-Attribute Model
Processing by brand, weigh their importance, evaluate each brand based off of attributes
Reason for Purchasing Behaviors
Task Definition
Making a judgement based on comparison with others in prototypical categories
Representativeness Heuristics
Name all types of Operant Conditioning
- Positive Reinforcement
- Negative Reinforcement
- Positive Punishment
- Negative Punishment
Name all Influences on Post-Purchase Dissonance
- Degree of commitment to the purchase decision
- Importance of decision
- Involvement level
- Difficulty of choosing between alternatives
- Impulse Purchases
Based judgement on easy to recall events over finding new information
Availability Heuristics
Consideration Set
Brands likely to be considered in purchase
Feeling of uncertainty over making right decision
Post-Purchase Dissonance
Grid Layout Model
Can display lots of products, can be physically cramped and does not encourage browsing
Non Compensatory Model
Eliminating alternatives do not meet particular criteria (requires less effort) (negative attributes create immediate rejection)
Design of a physical environment to influence customers’ moods and purchasing behaviors
Atmospherics
Avoidance of Extremes
Extremeness Aversion
Attempting to find explanations for events
Attribution Theory
Bad things happen to others
Self-Positivity
Most common form of scent marketing
Billboard Scenting
Elimination By Aspects Model
Processing by attributes, consumer creates cutoffs, eliminate brands that do not meet minimum cutoff levels
Making an initial evaluation (anchor) and then adjusting based on new information
Anchoring
Inept Set
Unacceptable options
Confirmation Bias and Self-Positivity are apart of…
Accuracy of Judgements
Sensory elements (Lighting, Aroma, Music, Temperature)
Ambient Factors
The state you are in now
Actual State
Name all the Decision Models:
- Compensatory vs. Non Compensatory
- Multi-Attribute Model
- Elimination by Aspects Model
- Conjunctive Model
Décor, sound, light, weather, aroma, and merchandise configuration
Physical Surroundings
Ignoring how often an event realistically occurs on average
Base Rate Information
What is Decoy Effect?
Preference for one of two options changes when a third option is introduced
Decompression Zone
First 10 feet in store
Factors associated with time and place that temporarily affect how buyers behave
Situational Factors
