New Material pt. 2 Flashcards
List and describe five values of western culture that we discussed in class.
Materialism: placing importance on money and material goods
Luxury goods, “the Joneses”, celebrities as reference groups
Work and play
US – employees generally work harder and longer than in the past
Individualism- Worry about me, me, me
Health- McDonalds- whole foods
Hedonism: the principle of pleasure seeking
Youth- Want to look younger and younger
The environment- We care about it
Technology- Heavily involved
List and describe three of the Big 5 personality traits.
Extroversion: outgoing vs. reserved
Agreeableness: friendly vs. unkind
Neuroticism: nervous vs. confident
Define the following personality terms: dogmatism, need for uniqueness, need for cognition, susceptibility, and self-monitoring behavior.
Dogmatism: resistance to change
Need for uniqueness: looking for novelty in purchases, related to conformity/counterconformity, unconventional purchases
Need for cognition: how much people like to think
Susceptibility to influence: success level of persuasion attempts
Self-monitoring behavior: the degree to which people look to others for cues on how to behave
Why would a marketer use the VALS – Value and Lifestyle Survey?
The survey is an attempt to understand consumers on a level greater than their basic demographics.
What are three things that affect adoption, resistance, and diffusion of an innovation?
Uncertainty
Social relevance
social factors
List and define the three categories of innovation we discussed in class. Provide an example of each.
Continuous innovation: limited effect on consumption patterns, new models with no customer learning curve
ex.) Iphone 6, minor change from iPhone 5
Dynamically continuous innovations: has a pronounced effect on consumption patterns, often involving new technology
ex.) Laptop, tablet
Discontinuous innovations: so new that consumers have never known anything like it before (paradigm shift)
Ex.)Paradigm-shifting products include the home computer and the smartphone
How can marketers use the three need categories – functional, symbolic, and hedonic – to help promote innovations?
Functional innovations: have utilitarian benefits that are better than existing offerings
Hedonic or aesthetic innovations: an innovation that appeals to our aesthetic, pleasure-seeking, and/or sensory needs
Symbolic innovation: a product, service attribute, or idea that has new social meaning
What role does breadth play in describing an innovation?
Breadth: the range of new and different uses for a particular product
Phone vs. computer, phone, calendar, watch (all put in one)
Define adoption and resistance as they relate to an innovation. What are some negative and positive effects of innovations?
Adoption: a purchase of an innovation by a consumer or household
Resistance: a desire not to buy the innovation, even in the face of pressure to do so
Negative effects: time to learn, purchase price, compatibility with other products
Positive effects: saves time, saves money, promotion possibilities, stave off firing
Draw a figure that describes the high-effort hierarchy of effects and low-effort hierarchy of effects.
Awareness, information gathering, attitude formation, trial, adoption
Awareness, trial, attitude formation, adoption
Draw a graph of the diffusion of innovation curve; include the five adopter groups in the graph.
Innovators, early adopters, early majority, late majority, laggards
Draw a graph of the product life cycle curve; include the four categories in your graph.
Introduction, growth, maturity, decline
Draw and discuss three patterns of life cycle curves – S-shaped, fad, fashion
(Picture)
Define two perceived benefits that a marketer might use to sell an innovation to consumers.
Relative advantage: benefits superior to those found in existing products
Use innovativeness: finding uses that differ from the product’s intended use
What are three things that we discussed in class that can impact diffusion rates?
Compatibility: the extent to which an innovation is consistent with one’s needs, values, norms, or behaviors
Trialability: try before you buy
Complexity: how difficult is the product to understand or use
Define social and temporal dilemmas
Social dilemma: deciding whether to put self-interest or the interests of others first
Temporal dilemma: deciding whether to put immediate interests or long-term interests first
List and describe four acquisition controversies we discussed in class.
Materialism: the excessive desire to acquire and consume material goods
Addictive behavior: excessive behavior typically brought on by chemical dependency
Compulsive behavior: an irresistible urge to perform an irrational act
Consumer theft
How might a consumer rationalize consumer theft behavior? List and describe three factors.
product factors, environmental factors, consumer factors
Define the black market, and provide an example of two products/services that can be found on the black market
Black market: an illegal market in which consumers pay often exorbitant amounts of money for products not readily available
ex.) Fake bags, Cuban cigars
What are four issues that marketers should consider when marketing to children?
Do not understand cost
Undeveloped cognitive abilities
Teach children materialism
Unable to store/retrieve information in long-term memory
Define greenwashing and provide two examples of products that use greenwashing in their marketing activities.
Greenwashing: misleading use of environmental claims for marketing purposes
Fluffy language- Words or terms with no real meaning. “Eco-friendly”
Best in class- claiming you are slightly greener than the rest, even if the rest are terrible
What are three things that consumers can do to resist marketing efforts they deem unethical?
Individual resistance—negative word-of-mouth
Social media has leveled the playing field
Advocacy groups—inform public about business practices
Boycotts
Avoid purchasing
