Midterm exam 2 Flashcards

1
Q

Factors influencing consumer behavior

A
  • Cultural: Culture, Subculture, Social class.
  • Social: Reference groups, Family, Roles and Status.
  • Personal: Age, Occupation, economic situation, Lifestyle, Personality and Self-concept.
  • Psychological: Motivation, Perception, Learning, Beliefs and attitudes.
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2
Q

Cultural factors

A
  • Culture: is the learned values, perceptions, wants and behaviors from family and other important institutions.
  • Subculture: is the way of life of a group within a society, which are different from others.
  • Social class: is society’ ordered divisions whose members share similar values, interests and behaviors. Measured by combination of occupation, income, education, wealth, etc.
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3
Q

Social factors

A

Reference groups: are groups that form a comparison or reference in forming attitudes or behavior.

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4
Q

The buyer decision process

A
  1. Need recognition: buyer recognize a problem
  2. Info search: sources of info (personal, commercial, public, experiential sources)
  3. Evaluation of alternatives: how buyer processes info to arrive at brand choices
  4. Purchase decision: act of buying the most preferred brand
  5. Post-purchase decision: satisfaction or dissatisfaction towards purchase.
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5
Q

4 Types of buying decision behavior

A
  1. Complex buying behavior: highly motivated in a purchase and perceive significant differences among brands. eg. Product is expensive or risky.
  2. Dissonance reducing buying behavior: High involv, few differences between brand. Consumer avoid negative info about the brand purchased.
  3. Variety-seeking buying behavior: Low involv, significant brand differences. Low brand loyalty.
  4. Habitual buying behavior: eg. bread. Low involv, little significant brand difference.
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6
Q

Diffusion of innovation theory: Individual differences in innovation

A

Innovators: willing to take risks, have highest social status and financial liquidity

Early adopters: opinion leaders, adopt new ideas early but cautiously.

Early majority: deliberate and adopt new ideas before the average person.

Late majority: skeptical, adopt new ideas only after he majority of people have tried it.

Laggards: suspicious, adopt ideas only when they become tradition.

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7
Q

Positioning strategy

A
  • Price positioning strategy: Low-price (convice consumers that they are receiving more value for their money); High price (convince consumers they are receiving superior quality for a worth price)
  • Quality positioning strategy: using exceptional parts and materials, and committing minimal defects.
  • Restricted distribution strategy: only available at certain stores at high prices.
  • Benefit positioning strategy: highlight benefits of product or service to the customer.
  • Problem and solution positioning: present brand as solution to customers problems. eg. Banks, insurance.
  • Competitor positioning strategy: demostrate superiority amonst competition. eg. Galaxy vs iPhone.
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8
Q

Marketing mix

A
  • Product: three levels (Augmented, actual, core product)
  • Price:
  • –Price penetration (stimulate market and sales growth by offering products at low prices)
  • –Price skimming (setting high price for a new product and the reducing its price, eg. Playstation)
  • Promotion: Advertising Strategy guides
  • Place
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9
Q

Advertising Strategy guides: FCB Grid Model

A

Informative: High involv., Thinking. Learn-Feel-Do.

Affective: High involv., Feeling. Feel-Learn-Do

Habit Forming: Low invol, Thinking. Do-Learn-Feel

Self-Satisfaction: Low invol., Feeling. Do-Feel-Learn

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10
Q

Advertising Strategy guides: ROI Model

A

Relevance: the message was important and gave me good reasons to buy the product.

Originality: ads are similar to others

Impact: I got high emotionally involved in this ad.

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11
Q

Advertising Strategy guides: Standardization vs Adaptation

A

Standarization:

  • Pro: Economies of scale in production, Consistent image, simplification of ad control.
  • Contra: Cultural differences, regulations

Adaptation:

  • Pro: greater levels of customer satisfaction, minimize negative impacts of cultural issues.
  • Contra: High costs, slow implementation of marketing strategy, inconsistency of brand image
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12
Q

Ad creative Strategy

A
  1. Generic message strategies (focus on selling the category rather than the specific brand)
  2. Pre-emptive messages: be the first to make a claim about ur product.
  3. Unique selling proposition: something unique about your product that other do not offer.
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13
Q

What is digital media?

A
  • devices, which store digitized info.

- digital interfaces and platforms connecting human users to info and content.

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14
Q

Traditional media vs Digital media

A

Traditional media:

  • every medium has a specific function
  • heavy users of some are light users of others
  • content travel with limited disruption
  • media attributes based on functional benefits

Digital media:

  • media are becoming similar.
  • media collaborate each other.
  • content become more valuable than the media, themselves.
  • media attributes based on emotional connections.
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15
Q

Types of digital advertising

A
  • Native ads: Paid content, must provide the kind of info that the publication’s audience typically expects.
  • Search engines ads: involves the promotion of websites by increasing their visibility in search engine results pages.
  • Social media ads: allows reach, spread, exchange, record and track info at any moment.
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16
Q

Rethinking customers

A

Broadcast/ content generator: they post and share picture, videos, thought and info.

Nodes of networks: nodes of social network and virtual communities.

17
Q

Digital marketing strategies: Paid/ owned/ earned media framework

A
  • Paid media: Brand pays to leverage (aprovechar) a channel.
  • Owned media: you leverage a channel you create and control. eg. blog
  • Earned media: when consumers become the channel of your brand. eg. via word of mouth
18
Q

Digital marketing strategies: Gamification

A

The application of typical elements of game playing in order to drive participation and engagement with the product. customer=gamer

19
Q

What is a crisis?

A

The perception of an unpredictable event that threatens important expectancies of stakeholders and can seriously impact an organization’s performance and generate negative outcomes.

20
Q

Crisis management

A

it is the process that are allocated to manage unexpected incidents that threat organizations, individuals, etc.

21
Q

Crisis stage models: Five stage model for crisis management. (Mitroff, 1994)

A

Signal detection: seek warning signs of crises

  • > probing and prevention: active search and reduction of risk factors
  • > damage containment: actions taken to limit crises spread
  • > recovery: effort to return to normal operations
  • > learning: review and learning from it.
22
Q

Crisis stage model: Three-stage model

A

Pre-crisis: includes all aspects of crisis preventions

  • > Crisis impact: steps taken to cope with and respond to the crisis event.
  • > Recovery: the postcrisis stage begins when the crisis is resolved
23
Q

Crisis communication

A

The exchange of information among interested parties about the nature, magnitude, significance, and control of risks.

24
Q

Crisis Communication theory: Image restoration theory (IRT)

A
  • It focuses on reputation (image) and how this can be repaired after an
    attack.
  • It combines elements from rhetoric studies (apologia/justification) and interpersonal communication.
25
Q

IRT: Five categories of image repair strategies (message options)

A
  • Denial: cut connection between the crisis and organization.
  • Evading responsibility: accepting some connection to crisis, but deny/ reduce accountability.
  • Reducing offensiveness: makes the crisis “look better” for the organization
  • Corrective action & mortification: offer compensation and ask for forgiveness
26
Q

Crisis Communication theory: Situational crisis communication theory (SCCT)

A
  • People search for causes of negative and unexpected events.
  • Cause is attributed to either the person involved in the event or circumstances surrounding the event.
27
Q

SCCT: Three categories of crisis types

A
  • Victim crises: very weak responsibility
  • Accident crises: minimal crisis responsibility
  • Intentional (preventable) crises: strong crisis responsibility
28
Q

Crisis Response Strategies in SCCT

A
  • Denial posture: cut connections between organization and crisis.
  • Diminishment posture: reduce negative effects of the crisis.
  • Rebuilding posture: improve the organization reputation
  • Bolstering posture: build positive connection between organization and public