Sub Cultures Ch.13

Question 1

Subculture

Answer 1

group whose members share beliefs and common experiences that set them apart from others.

Question 2

microculture

Answer 2

Individuals may identify with a microculture based on lifestyle or aesthetic preference. They typically command fierce loyalty.

Question 3

Multigenerational marketing strategy

Answer 3

Using imagery that appeals to consumers from more than one generation.

Question 4

Material parenting

Answer 4

Using products to shape behavior of children (reward/punish)

Question 5

Parental Yielding

Answer 5

Occurs when a parental decision-maker surrenders to a child’s request. This is a billion dollar driver of sales

Question 6

Gen Z

Answer 6

Born roughly between late 1990’s to early 2000s. They are digital natives, which means they grew up in a culture where technology was always present.

Question 7

Consumer identity renaissance

Answer 7

Redefinition process people undergo when they retire.

Question 8

What are the two types of Consumer identity renaissance

Answer 8

Revived (reviving past identity) or Emergent (pursuit of entirely new life project)

Question 9

Regional subcultures

Answer 9

segmenting market according to geographic location.

Question 10

Reactance

Answer 10

unpleasant motivational response to a perceived threat to a person’s behavioral freedoms.

Question 11

Ritual

Answer 11

Set of symbolic behaviours that occur in a fixed sequence and that tend to be repeated periodically (e.g. Oreo cookies are twisted, and dunked in milk)

Question 12

Ritual Artifact

Answer 12

Item used in the performance of rituals

Question 13

Psychology of early adopters

Answer 13

They tend to be category-specific, very knowledgeable and high involvement

Question 14

Penetration Pricing

Answer 14

Set low price first then increase (Netflix) works well for companies with fixed costs.

Question 15

Price skimming

Answer 15

Set high price first then reduce (e.g, Iphone)

Question 16

Psychology of the majority

Answer 16

They are low-involvement consumers, so entertain them with fun/emotional communication
They are high in need for conformity: they need <social> (celebrity endorsement, product placement, word of mouth)
Pricing: different prices for different consumer segments</social>

Question 17

Horizontal Differentiation

Question 18

Vertical Differentiation

Question 19

5 prerequisites for successful Adoption

Answer 19

1. Relative Advantage:
2. Compatibility: Must fit consumer’s lifestyle
3. Observability: Ones that are observable spread faster
4. Trialability: reduce risk b
5. Complexity

Question 20

Trickle down effect

Answer 20

From high fashion to adoption by early adopters, then eventually to mass market (low status consumers)