test 3 Flashcards
subset of top-of-mind brands evaluated when making a choice
consideration set
equality of preferences towards brands or products in set
preference dispersion
that which helps us discriminate among objects
diagnostic info
attribute that is top of the mind or more important
salient attribute
attribute that is both salient and diagnostic
attribute determinance
when consumer is actively evaluating a brand as he views an ad for it
online processing
tendency to recall info that reinforces or confirms our over all beliefs rather than contradicting them, thereby making our judgement or decision more positive than it should be
confirmation bias
recall of one attribute inhibiting recall of another
inhibition
collecting info from outside sources
external search
search for info that aids specific acquisition
prepurchase search
search that occurs regularly regardless of whether the consumer is making a choice
ongoing search
contact w independent sources of info, such as books, mags, websites
independent search
using samples or service/product trials
experiential search
consumers acquire all needed info on one brand before moving on to next
searching by brand
consumers compare brands in terms of one attribute at a time, such as by price
searching by attribute
eval of an object or estimate of likelihood of an outcome or event
judgement
making a selection among options or courses of action
decision making
judging how likely it is that something will occur
estimation of likelihood
evaluating the desirability of something
judgement of goodness/badness
starting with an initial eval and adjusting it with additional info
anchoring and adjustment process
imagining an event in order to make a judgement
imagery
categorizing spending and saving decisions into accounts mentally designated for specific consumption transactions, goals, or situations
mental accounting
intensity of positive or negative feelings associated with each mental account for saving or spending
emotional accounting
options that are unacceptable when making a decision
inept set
options toward which consumers are indifferent
inept set
when the addition of an inferior brand to a consideration set increases the attractiveness of the dominant brand
attraction effect
initial reference point or anchor in the decision process
decision framing
process by which consumers combine items of info about attributes to reach a decision
cognitive decision making model
process by which consumers base their decision on feelings and emotions
affective decision making model
mental cost-benefit analysis in which negative features can be compensated for by positive ones
compensatory model
simple decision model in which negative info leads to a rejection of the option
noncompensatory model
for each attribute, the point at which a brand is rejected with a noncompensatory model
cutoff level
evaluating one brand at a time
brand processing
type of brand based compensatory model
multiattribute expectancy value model
noncompensatory model that sets min cutoffs to reject bad options
conjunctive model
noncompensatory model that sets acceptable cutoffs to find options that are good
disjunctive model
comparing brands one attribute at a time
attribute processing
compensatory model in which brands are compared by attribute, two at a time
additive difference model
noncompensatory method that compares brands by attributes, one at a time, in order of importance
lexicographic model
similar to lexicographic but adds notion of acceptable cutoffs
elimination by aspects model
when ownership increases value of an item
endowment effect
prediction of how you will feel in the future
affective forecasting
process of making a decision about products or services of different categories
noncomparable decision
making a noncomparable choice based on an overall eval
alternative based strategy
making noncomparable choice by making abstract reps of comparable attributes
attribute based strategy
options that are extreme on some attributes are less attractive than those with moderate levels of attributes
extremeness aversion
when brand gains share because its intermediate rather than extreme option
compromise effect
picking brand bc scores equally well on certain attributes rather than faring unequally on these attributes
attribute balancing
how the info is processed beyond the content of decision
metacognitive experiences
making judgement by comparing stimulus with category prototype or exemplar, comparing new laundry detergent with tide
representativeness heuristic
basing judgments on events that are easier to recall
availability heuristic
how often an event really occurs on average
base-rate info
expectation that info obtained from small number of people reps larger population
law of small numbers
sequential steps used in decision making involving thinking, then feeling, then behavior
traditional hierarchy of effects
sequence of thinking-behaving-feeling
low effort hierarchy of effects
finding a brand that satisfies a need even though the brand may not be the best brand
satisfice
simple rules of thumb used to make low effort decisions
choice tactics
view that behavior is function of reinforcements and punishments received in the past
operant conditioning
tactics based on benefits, features, or evaluations of the brand
performance related tactics
doing the same thing time after time
habit
leading consumers through a series of steps to create desired response
shaping
buying same brand repeatedly because of strong preference for it
brand loyalty
buying two or more brands repeatedly because of a strong preference for them
multibrand loyalty
simplifying decision heuristics that are based on price
price related tactics
acceptable range of prices for any purchase decision
zone of acceptance
consumer who is more likely to be influence by price
deal prone consumer
low elaboration decision making that is based on others opinions
normative choice tactics
low level feelings
affect
tactics based on feelings
affect related tactics
simple type of affective tactic whereby we simply remember our feelings for the product or service
affect referral
easy recognition of a well known brand
brand familiarity
arrangement by which two brands form partnership to benefit from the power of both
co-branding
when all the visual parts of a design fit together
unity
trying something different
variety seeking
level of arousal that is most comfortable for an individual
optimal stimulation level
seeking info simply for stimulation
vicarious exploration
unexpected purchased based on a strong feeling, unplanned
impulse purchase
feeling of anxiety over whether the correct decision was made
post decision dissonance
feeling that one should have purchased another option
post decision regret
testing out expectations through experience
hypothesis testing
forming expectations about the product or service
hypothesis generation
actually experiencing the product or service
exposure to evidence
processing the info one experiences
encoding of the evidence
combining new info with stored knowledge
integration of evidence
when theres not enough info to confirm or disprove hypothesis
ambiguity
market leader or brand that has a large market share
top dog
lower share brand
underdog
blocking exposure to evidence?
when top dog encourages consumers not to acquire new info
explaining the experience?
reinforcement by top dog of why brand is satisfying and encouragement to try it…coke “live positively”
feeling that results when consumers make a positive eval or feel happy w decision
satisfaction
feeling that results when consumers make negative eval or are unhappy with decision
dissatisfaction
the existence of a discrepancy between expectations and performance
disconfirmation
belief about how a product/service will perform
expectation
utilitarian dimensions
how well product or service functions
hedonic dimensions
how the product makes someone feel
measurement of whether the product/service actually fulfills consumers needs
performance
better than expected performance
positive disconfirmation
performance as good as expected
simple confirmation
performance lower than expected
negative disconfirmation
theory that focuses on fairness of exchanges between individuals which helps in understanding consumer satisfaction and dissatisfaction
equity theory
perception that peoples inputs are equal to their outputs in an exchange
fairness in the exchange
pos or neg emotions experienced while using the products or services
post decision feeling
practice of keeping customers by building long term relationships
customer retention
perception of actual state is function of
physical factors, needs, external stimuli
ideal state is function of
expectations of way things should be, future goals/aspirations, major changes in personal circumstances
problem recognition: how marketers work…
create dissatisfaction with actual state, awareness of actual state, feasible path to ideal state
info from internal search
recall of brands, attributes, evals, experiences
factors enhancing brand recall
prototypicality, familiarity, goals/usage situation, brand preference, retrieval cues
factors affecting attribute recall
accessibility, diagnosticity, salience, vividness, goals
external systematic search
organized, comprehensive, effortful
external search: less risk, low involvement, more knowledge, less time
heuristic search
more risk, high involvement, less knowledge, more time
systematic search
social network of individuals who interact through specific media to pursue mutual interests/goals
virtual community
consumers see product as riskier to buy online when it is what type of product?
experiential info
consumers with little or extensive knowledge search less, moderate knowledge search more…makes bell curve
tru
when brand is in consideration set and no search is undertaken, consistent attention to product quality, avoiding out of stock options, reinforcement ads
maintenance strategy
when brand isnt in consideration set and no search taken, disrupt existing decision pattern, samples, package design and pop, comparative ads
disrupt strategy
when brand is in consideration set and limited search, info search occurs at pop, know where consumers search and what info looking for
capture strategy
brand not in consideration set and limited search, emphasis on attracting consumers attention, low involvement learning, product improvements, search engine optimization,
intercept strategy
brand in consideration set and extensive search undertaken, several brand many attributes many info sources, strong position on important attributes
preference strategy
brand not in consideration set and extensive search, motivate to learn more about brand
acceptance strategy
imagery can help form positive bias and consumers to overestimate their liking
true
biases in judgment
confirmation bias, overconfidence, mood, priming, imagery
conjunctive probability assessment
estimating likelihood two events will occur together, relationship exists between attributes, prior experiences affect accuracy, clean restaurant = high quality
when consumers think two things occur together but they dont, low price equals low quality
illusory correlation
decision making meta goals
maxing accuracy, minimize cognitive effort, minimize negative emotion, max ease of justification
losses have more influence than gains, stronger reaction to price increases than decreases
prospect theory
affective forecasting based on
valence, intensity, duration
noncomparable decision
what you’re doing this saturday
top down processing, overall eval using pros and cons
alternative based decision
bottom up processing, form abstract reps to help compare options
attribute based
process of recalling stored info from memory
internal search
