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MKT 325 > Final Exam > Flashcards

Final Exam Flashcards

1
Q

routine choice

A

carried out automatically, with little conscious effort, no information search or deliberation; chewing gum, milk, generally involve habitual responses; little risk

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2
Q

intermediate problem solving

A

limited information search and deliberation; simple decision rules and heuristics; snack foods and soft drinks

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3
Q

extensive problem solving

A

deliberate and systematic effort, infrequently or expensive purchases; unfamiliar purchases

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4
Q

perceived risk

A

the possibility of negative outcomes, then consumers are more likely to demonstrate higher levels of involvement

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5
Q

brand laziness

A

low involvement and low information processing; commodity products like butter, ammonia, salt, flour

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6
Q

brand loyalty

A

high involvement and low information processing; jeans, athletic shoes, TV, cigs, magazines

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7
Q

variety seeking

A

high information processing, low involvement; the desire to choose new alternatives over more familiar ones; beer, candy, sports drinks, chewing gum, cereal

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8
Q

derived variety behavior

A

describes situations where consumers’ brand switching is either externally imposed or extrinsically motivated
- variety seeking due to out of fav in the vending machine or getting an AB at a cards game event though it isn’t you fav beer

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9
Q

intrinsic variety behavior

A

seeks variety for the inherent pleasure of change and positive stimulation

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10
Q

parity products

A

brands that possess functionally equivalent attributes making one brand a satisfactory substitute of most others (advertising becomes very important)
- when variety seeking becomes common

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11
Q

problem solving

A

high involvement, high information search; unfamiliar and expensive products

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12
Q

determinant attributes

A

characteristics of a product that are most likely to affect the buyer’s final choice

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13
Q

want-got-gap

A

the discrepancy that exists between what a consumer wants and the situation he finds himself in
- key to problem recognition!!

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14
Q

need

A

fundamental state of felt deprivation; an internal state that falls below a threshold of acceptability

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15
Q

motives

A

internal drives that push people to resolve a problem or reduce a need; the greater the want-got-gap the higher the motive

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16
Q

want

A

when a consumer’s ideal state rise above their actual state; need satisfiers that are shaped by personality, experiences, and culture…including marketing

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17
Q

opportunity

A

when a consumer’s ideal and actual state simultaneously move in opposite directions, this combination creates a sizable want-got gap that creates an opp

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18
Q

prepurchase search

A

once a problem is recognized, consumers gather info to information their purchase decision

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19
Q

internal search

A

a prepurchase search that accesses information from long term memory; common with low involvement decisions

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20
Q

external search

A

a prepurchase search; colleagues, friends, relatives, mark sources, online, product triasl

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21
Q

ongoing search

A

when consumers obtain information without recognizing a consumption problem; browsing

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22
Q

enduring involvement

A

describes a consumer’s long-term and continuous interest in a brand or brand category; golf enthusiasts are interest in new clubs

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23
Q

situational involvement

A

relatively temporary and context dependent interest in a product or category; infrequent flier visiting another country

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24
Q

brand overload

A

when you feel overwhelmed by the number of available brands that you quickly grab the one most familiar to you; brought on by the proliferation of brands that offer few distinctive attributes

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25
Q

market mavens

A

people who search, accumulate, and share product knowledge with others; keep the marketplace honest

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26
Q

impulse buying

A

purchases made without prior buying; can be a result of an ongoing search

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27
Q

bounded rationality

A

the idea that consumers can only make rational decisions within the limits of time and cognitive ability

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28
Q

expectancy disconfirmation model

A

suggests that consumers form expectations about product performance prior to purchasing a brand based on initial expectations and goals; implies that consumers who attain low expectations will be just as satisfied as consumers who achieve higher expectations; if goals a re met = satisfied, if goals not med, dissatisfied….(don’t set yourself up for failure)

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29
Q

performance based satisfaction

A

when consumers compare the performance of a product with a product’s best possible outcome or potential; “what could be”

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30
Q

consideration set

A

group of brands that consumers think about buying when they need to make a purchase

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31
Q

evoked

A

the brands discovered during the external information search

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32
Q

part-list-cuing

A

involves presenting the names of just some brands when consumers are trying to recall as many brands as possible…makes it more possible for the consumer to think of other brands

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33
Q

attraction effect

A

a target brand seems more attractive when it is compared to inferior brands and less attractive when it is compared to superior brands…add a decoy

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34
Q

compromise effect

A

make the brand appear as an average (or a good compromise) brand against all other brands in the consideration set

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35
Q

stimulus based choice

A

when consumers can directly and physically observe all relevant brands in the consideration set and their brand attributes ; examining all brands through the package on the shelf in a store

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36
Q

memory based choice

A

none of the relevant brands and attributes are directly and physically observable and the consumers still make a purchasing choice

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37
Q

mixed choice

A

consumers can see some brands in the consideration set but not all…must remember others

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38
Q

attitude based choice

A

consumers form overall evaluations and general impressions of brands in the consideration set based on a combination of everything they know about all the brands and then select the one with the highest evaluation

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39
Q

attribute based choices

A

consumers compare specific attributes or features of each brand and select the one that performs best o key attributes

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40
Q

MODE model

A

Motivation and Opportunity to deliberate are key DE-terminants of the process that influence consumer choice

  • Motivation: high when the decision is more personally relevant
  • opp is high when people can take the time and have the ability to think carefully and to deliberate their decision
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41
Q

systematic processing

A

when consumers think carefully about decisions using all relevant information and considering all implications

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42
Q

heuristics processing

A

some people are unwilling or unable to make such careful decision through systematic processing, and therefore use heuristics that enable them to make quick decision

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43
Q

persuasion heuristics

A

influence consumers’ beliefs and attitudes

  • length implies strength heuristics: ads filled numbers about all the attributes
  • liking agreement heuristic: based on assumption that consumers usually agree with people they like (balance theory)
  • consensus implies correctness: bandwagon effect
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44
Q

prediction heuristics

A

what we studied: used to form likelihood adjustments

  • anchoring and adjustment
  • availability
  • representative
  • simulation (?)
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45
Q

influence or choice heuristic

A

(the third type of heuristic)
influence or choice heuristic affects consumers decisions directly
- i.e. decision rules

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46
Q

representative heuristic

A

assume a target can be placed into a certain category based on its appearance; make prediction based on perceived similarities between a specific target brand and a general category

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47
Q

availability heuristic

A

make predictions based on how easily one can retrieve information from memory

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48
Q

simulation heuristic

A

make predictions based on how easily an event or a sequence of events can be imagined or visualized…if it can easily be imagined then it tends to be overestimated and vise versa….we are more likely to contract diseases with symptoms we are familiar like fatigue, headaches, muscle res and less likely to get a disease that causes an inflamed liver

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49
Q

expected utility theory

A

suggests that all alternatives can be rated from worst to best; also suggests that alternatives with higher expected values dominate or a better choices than alternatives with lower expected values

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50
Q

cancellation

A

in gambles with different stages such as a games show in which you need to win in stage one in order to advangce to stage two, stage one should cancel out, or be ignored, if it is identical for two different gambling gamesq

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51
Q

transitive

A

if you prefer A to B, and B to C, then you must prefer A to C

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52
Q

invariance principle

A

preferences should remain the same no matter how preferences are measured or how decision alternatives are described

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53
Q

frames

A

in direct violation of the invariance principle, extensive research shows that preferences change when decision alternatives are described in terms of difference frames of perspectives

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54
Q

risk aversion

A

people typically avoid risky alternatives when outcomes are framed positively (lives saved or money gained)

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55
Q

risk seeking

A

people are more likely to accept risk when outcomes are framed negatively ; people think about a choice in terms of negative terms like deaths or money lost, people are more likely to accept risk

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56
Q

preference reversals

A

when people are inconsistent i.e. sometimes risk averse and sometimes risk seeking, this occurs: a preference reversal means that people prefer option A over option B at one point in time, but can prefer option B over option A at a different point in time

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57
Q

reference dependence

A

prospect theory: all outcomes are evaluated with respect to a neutral reference point and that preferences change as reference points change; 100 may seem like a lot to poor people but it doesn’t seem like a lot to rich people have higher reference points (1 mill)

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58
Q

loss aversion

A

the value function is much steeper for losses than for gains; losses have a bigger impact on people relative to equivalent gains; losing 100 has a bigger impact on people than winning 100

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59
Q

diminishing sensitivity

A

outcomes have weaker effects on people as distance from reference point increases; the difference between 100 and 0 seems larger than the difference between 1000 and 1100

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60
Q

endowment effect

A

tendency to view a product as more valuable if one owns it than if one does not own it

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61
Q

price bundling

A

used by forms to aggregate losses; instead of charging 40 per day to ski, ski resort will bundle 4 days into 160. if weather is bad on 4th day consumers are likely exhibit the sunk cost effect and go skiing anyway

62
Q

endowment effect and the sunk cost effect result from insensitivity to _____

A

opportunity cost

63
Q

libertarian paternalism

A

refers to the idea that people should have free choice but that choice options should be arranged in a manner to help people make the best choices

64
Q

choice architecture

A

policy makers should then structure the choice options in a manner that helps people make informed decision; choice architects should use consumers psychology, social psychology, and behavioral decisions research to structure people choice optinos

65
Q

compatibility principle

A

why do different measurement techniques lead to different preferences? according to this principle, different measurement techniques highlight different aspects of choice options

66
Q

singular evaluation

A

consumers often evaluate products one at a time

67
Q

comparative evaluation

A

consumers compare two or more products concurrently; customers preferred the CD S because they were comparing the THD to the other CD during singular evaluation

68
Q

brand positivity effect

A

consumers form unrealistically favorable evaluations of moderately favorable brands when they form singular evaluations, but not when they form comparative evaluations

69
Q

price-quality heuristic

A

most consumers believe that as price increases, quality also increases

70
Q

scope insensitivity

A

occurs when people lack distributional knowledge about attributes that inherently difficult to evaluate…during singular evaluation people are willing to pay the same amount of money to help 2000 birds than 20,000 birds

71
Q

duration neglect

A

occurs when people are asked to indicate their preferences for two events that are similar but differ in terms of temporal duration..participants remembered the longer trial as being less painful because it had less cold water at the end which felt nice

72
Q

peak and effect

A

duration neglect occurs due to this, or due to better memory for the worst part of the procedure and the end relative to the rest of the procedure

73
Q

affective forecasting

A

…studies that compare the predictions of forecasters with the evaluations of experiencers

74
Q

durability bias

A

found where people believe they will be happy or sad for a long time following a positive or negative event…professors were equally happy a year after the tenure decision regardless; the bias tends to be stronger for negative events

75
Q

self-concept

A

beliefs and attitudes we hold about ourselves; totality of an individuals thoughts and feelings regarding him or herself as an object

76
Q

role identities

A

represent the numerous positions that people occupy in society such as student, friend, son or daughtr

77
Q

personal qualities

A

modes of interpersonal behavior that distinguishes people from one another like sense of humor or friendliness…can be thought of as traits

78
Q

self evaluations

A

consider the adequacy of their performances in various role identities; smart shopper, good boyfriend

79
Q

self-esteem

A

sum of all self-evaluational overall evaluative component of a person’s self-cnoncept; a general attitude toward oneself

80
Q

self schema

A

cognitive structures that help us make sense of who we are; basic sketches of what people know about something; people retrieve information that is consistent with their actual self-schema

81
Q

extended self

A

the direct link between a consumer’s self-concepts and her posessions

82
Q

loved objects

A

shown to derive much of the emotional status by helping to resolve internal conflicts (stuffed animals)

83
Q

self-monitoring

A

the extend to which consumers use situational cues to guide their social behavior

84
Q

malleable self

A

refers to the multifaceted self-concept that includes good self, bad self, not me self, desired self, ideal self, ought to be self

85
Q

self conceptions

A

the result of malleable self: good self, bad self, not me self, desired self, ideal self, etc

86
Q

impression management

A

the process of creating desirable images of ourselves for others

87
Q

appearance management

A

the decisions regarding how consumers control their physical appearances and surroundings

88
Q

ingratiation

A

set of strategic behaviors designed to increase the probability of gaining benefits or favors from another person;;;used to get people to like you

89
Q

self-presentation

A

involves either self-enhancement or self-depreciation…used to get people to like you

90
Q

opinion conformity

A

entails expressing insincere agreement on important issues

91
Q

flattery

A

involves excessive compliments or praise designed to make someone feel good about himself

92
Q

aligning activities

A

consist of comments that attempt to realign our behavior with norms

93
Q

disclaimers

A

verbal assertions, made in advance, to offset the potential negative effects of a behavior…im not expert but

94
Q

accounts

A

excises or justifications…dell claims that you computer crashed from installation of incompatable software is an account or an excuse

95
Q

personality

A

set of unique psychological characteristics tat influences how a person responds to his or her environment including cognitive affective and behavioral tendencies

96
Q

personality traits

A

represent consumers tendencies to respond in a certain way across similar situations

97
Q

Five Factor Model

A 
OCEAN
Openness
Conscientiousness
Extraversion
Agreeableness
Neutroticism
98
Q

compulsive buying

A

the drive to consume uncontrollably and to buy in order to avoid problems

99
Q

brand image

A

compromise all the thoughts and feelings consumers have about a certain brand…logos, slogans, endorsers, price, distribution channel, typical use

100
Q

brand personality

A

refers to the set of human characteristics associated with a brand

  1. competence
  2. excitement
  3. sophisitication
  4. sincerity
  5. ruggedness
101
Q

brand personification

A

give a brand characterization; involves giving non human like traits…geiko’s talking gecko; the M&M characters

102
Q

brand anthropomorphization

A

assigns both human traits and form to non-humans; enlists fictitious characters with both human traits and human forms; jolly green giant, pillsbury doughboy,

103
Q

cognitive personality variables

A

the personality traits that describe an individual’s mental responses to objects…establishes the differences between social sciences and the natural sciences

104
Q

locus of control

A

describes the extent to which an individual possesses internal or external reinforcement beliefs: internal = master of my own destiny…external = fate, luck, more powerful factors

105
Q

need for cognition (NFC)

A

measures an individuals natural tendency to engage in and enjoy effortful cognitive actives; want to engage in cognitive analysis; relatively unaffected by irrelevant background appeals like celebrity endorsers

106
Q

need for humor (NFH)

A

represents an individuals tendency to crave, seek out, and enjoy humor, a construct more motivationally driven than sense of humor….pay cost attention to humorous ads

107
Q

theory of lay epistemology

A

the formation and use of everyday knowledge suggests that individuals differ in the degree to which they make the important trade-off between speed and accuracy…the trade off between speed an accuracy when making a purchasing decision

108
Q

need for cognitive closure

A

NFCC - describes a consumer’s desire for definite knowledge of any kind to reduce confusion or ambiguity

109
Q

verbal compliance

A

describes a situation when someone says “yes” to a specific request

110
Q

behavioral compliance

A

describes a situation where someone actually carries out that request

111
Q

automaticity principle

A

corner stone of all influence technique; principle asserts that people often think mindlessly and as a result,behave automatically, without fully evaluating the consequences of a request; routine, habitual behaviors

112
Q

because heuristic

A

people tend to process all requests small requests mindlessly…so hearing the word “because” may be enough to trigger compliance for small requests

113
Q

commitment and consistency principle

A

pressure to maintain consistency is surprisingly powerful; people are expected to exhibit beliefs, attitudes, and behaviors that are stable and coherent; inconsistencies often invite interpretations of personality flaws or mental illness

114
Q

foot in the door technique

A

involves making a small request followed by a target one..pretending to be a survey researcher and then eventually ask them to make a purchase..would you like to test drive this vehicle? would you do me a small favor? try this perfume

115
Q

self-perception theory

A

suggests that complying with a small request leads people to label themselves as helpful, good citizens or reasonable people…once people have labeled themselves as such, they have a desire to maintain that self-perception

116
Q

low ball technique

A

car sales people are notorious for this technique; they try to get an initial commitment, and then they change the deal…they offer a deal and then halfway through the paper work they find out that the car actually costs more due to a mistake

117
Q

commitment theory

A

suggest that the purpose of obtaining an initial commitment is to impart resistance to change…people don’t like to change their mind or back out

118
Q

bait and switch

A

a special case of the low-ball technique; also known as lure procedure; lures customers in by advertising a low-priced product or service..when the customers discover the product is not available, the sales people offer them a different more expensive product

119
Q

reciprocity principle

A

when someone does you a favor, you feel obligated to return it in kind; not only social ettiquite, but its also surprising powerful influence on technique…people are often tricked in to returning much larger favors than they receive…free samples

120
Q

door in the face technique

A

following up a large, unreasonable request with a small more sensible request usually improves behavioral compliance

121
Q

that’s not all technique

A

opposite of the low ball technique, this one starts high and builds in a downward fashion; initial deal is changed into an even better deal before the consumer has an opportunity to reject the firs offer

122
Q

multiple deescalating requests technique

A

involves more than two requests; differs from the that’s not all technique in that once a request is refused, additional requests follow-one after another-until one is finally made

123
Q

even-a-penny technique

A

a way to appear extremely reasonable; involves the legitimation of trivial contribution

124
Q

scarcity principle

A

people often want what they cannot have; people often want things they cannot have in the future; “while supplies last” “limited edition”

125
Q

affirmation of the consequent

A

something to do with the scarcity principle???????

126
Q

social validation principle

A

“proof in numbers”; maintains that the perceived validity or correctness of an idea increases as the number of people supporting the idea increases

127
Q

list technique

A

presenting a list of supporters or donors to a prospect; people are more willing to donate

128
Q

diffusion of responsibility

A

if no one quickly steps forward to act then the likelihood of anyone acting decreases and a snowball of pluralistic ignorances ensures; in fact, people are much more likely to help when they perceive themselves to be the only person available to help i.e. the situation cannot be diffused

129
Q

descriptive norms

A

involve perceptions of which behaviors are common or popular i.e. what is everyone doing; the more people doing something the more likely you are to do it

130
Q

injunctive norms

A

involve perceptions of which behaviors are accepted or rejected by society

131
Q

liking principe

A

we tend to comply with the requests of those whom we like

132
Q

ingratiation

A

tactic commonly used to engender liking; involves purposely bringing oneself into the good graces of another person

133
Q

indirect associations

A

creating these to a positively evaluated stimulus like a popular uni or sorts team can increase liking for that stimulus; when our team wins we are more likely to wear hats anti their name on it

134
Q

affect transfer

A

special case of classical conditioning; occurs when the positive affect or feelings created by an unconditioned stimulus becomes associated with a conditioned stimulus…advertisers are famous for attempting to transfer positive feelings created by the drama in an ad to the sponsored brand

135
Q

MUM effect

A

the tendency to keep mum about unpleasant messages

136
Q

authority principle

A

authority figures use titles, uniforms, or expensive possession that convey status to impress and influence others to obey and listen

137
Q

organic word of mouth

A

word of mouth that occurs naturally

138
Q

buzz marketing / word of mouth marketing

A

execution of marketing tactics specially designed to generate positive word of mouth marketing messages and create a virus like exponential spread to those messages

139
Q

viral marketing

A

buzz campaign that usually involves the internet to facilitate the spread of word of mouth and spark buzz

140
Q

stealth marketing

A

buzz marketing campaign that specifically relies on spreading word of mouth in a covert of clandestine manner…while the tactics may not differ appreciably in a stealth marketing campaign than in a buzz marketing generally, the consumer is supposed to remain unaware that a company is systematically generating buzz

141
Q

experimental marketing

A

buzz marketing technique based on the idea of creating one-on-one experiences that allow consumers to experience the brand in a sensory way that is usually unique, fun, and entertaining;;;;cranberry bogs

142
Q

community marketing

A

organizing and supporting niche communities that share a common interest surround a brand;;;online or offline; fan clubs, user groups and forums; harley owners group (HOGs)

143
Q

grassroots marketing

A

type of community marketing; organizing and supporting communities on a personal and local level; like door to door

144
Q

consumer generated marketing

A

creation of advertising or other marketing content by the consumers; sharing images, posing digital stories, creating an ad through a promotion or contest

145
Q

correspondent inference

A

assumption that a person’s behavior is a reflection of their beliefs and underlying dispositions, rather than the result of some situation variable; so a celeb wearing or using a brand leads the consumer to infer that the celebrity actually likes the brand and is a user of the brand

146
Q

visual product placement

A

entrails placing the brand on a screen within the setting or background of a program; most common; easiest to overlook because little or no interaction between the characters and the actual product

147
Q

verbal product placement

A

actor references or request a product by name..most common in music or books

148
Q

brand interaction

A

characters actually handle the product physically interact with it in some way..an actor drinking a coke

149
Q

brand integration

A

brand is woven into the thread of the story; junior mint scene in seinfeld

150
Q

sponsorship and branded entertainment

A

most intensive form of marriage between a content and a brand; brand is the sponsor of the content and has extensive editorial control of the content

151
Q

mobile marketing

A

any marketing communications directed to a mass audience, target group, or individual using a mobile device

MKT 325 (2 decks)

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