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Bus 347 > Week 7 > Flashcards

Week 7 Flashcards

1
Q

What is involvement?

A

Persons perceived relevance of an object based on their needs, values and interests

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2
Q

What are components of invovelemt?

A

Consequences, factors and potential risks

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3
Q

What are high involvement decisions

A
  1. Decisions that have important consequences that will affect our lives
  2. There’s a criteria applied and active process of searching, learning and evaluating (Problem solving)
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4
Q

What are low involvement decisions

A
  1. Decisions that don’t have important consequences
  2. Choice is made without having a criteria (Habitual decision making)
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5
Q

Why are low and high involvement decisions significant to marketers

A
  • how consumers perceive brands
  • how they respond to advertising
  • how they approach the decision process
  • how interested they are in spending time and effort looking for information
  • deliberating alternatives and choosing which decision rule they will use to make a choice
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6
Q

What is active learning

A

Involves purposeful, motivated acquisition of knowledge. It is nature exciting and engaging

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7
Q

How is active learning applied in consumer behavior?

A

Extensive information search formatting a purchase

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8
Q

High involvement

A

Learning more about the brands we are considering to buy from

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9
Q

What is passive learning?

A

Effortless acquisition of knowledge unrelated to goals

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10
Q

Who was passive learning developed by?

A

Krugman and Hartley

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11
Q

How did Krugman and Hartley come up with passive learning?

A

They observed how people watched tv and which ads that were recalled

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12
Q

What was the result of Krugman and Hartley’s study?

A
  • Awareness of the brand = product behavior of purchasing
  • Consumers purchase and try the brand = attitudes toward it would be formed
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13
Q

What is evoked set

A

Refers to all brand consumers are aware that might meet their needs

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14
Q

Consideration set

A

Refers to things consumers might actually consider buying or a consumer may have already have a well formed intention of what to buy

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15
Q

What is the routine decision process in a high involvement situation

A
  1. Problem recognition
  2. Intention
  3. Choice
  4. Outcome/evaluation
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16
Q

What are the process of low involvement when there’s a few differences among brands?

A
  1. Inertia
  2. Spurious (superficial loyalty)
  3. Random Choice
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17
Q

What are the process of high involvement when there’s a few differences among brands?

A
  1. Complex decision making
  2. Dissonance reduction
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18
Q

What are the process of low involvement in significant difference among brands?

A
  1. Variety
  2. Random Choice
  3. Experiment
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19
Q

What are the process of high involvement in significant difference among brands?

A

Complex decision making or brand loyalty

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20
Q

What is post purchase dissonance?

A

Engaging in extended search and looking for reassurance after purchase to see if they made the right choice

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21
Q

What are the different types of involvement?

A
  1. Product involvement
  2. Message response involvement
  3. Enduring involvement
  4. Ego involvement
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22
Q

What is product involvement?

A

Involvement surrounding personal relevance of the product based on needs, values or interest

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23
Q

What is message response involvement?

A

Involvement that reflects the consumers interest in marketing communications

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24
Q

What is enduring involvement?

A

The pre existing relationship between an individual and the object of concern

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25
Q

What is ego involvement?

A

Consumers perceptions of products or brands that are relevant to their self concept and ego which defines their identity

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26
Q

What is foxalls research?

A
  1. Involvement is a relationship between the product and consumers
  2. Long term interest in a product may affect the level of involvement and these may change depending the situation
  3. Situational involvement also depends on a particular event
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27
Q

How do you increase consumer engagement?

A
  1. Link the brand to hedonic needs
  2. Use distinctive or novel ways of communicating about the product
  3. Use celebrities
  4. Tell a story: Emotional glue and make an audience care
  5. Build a relationship: Building a knowledge of what brands stand for
  6. Get the consumer to participate: Use social media to engage consumers by involving them with their marketing communications
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28
Q

What does the state of flow describe?

A

Involvement that is characterized by enjoyment, focused attention, intrinsic interest, sense of being in control and loss of self consciousness

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29
Q

Who pioneered the study of flow?

A

Psychologist Mihalyi Csikszentmihalyi

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30
Q

What did Psychologist Mihalyi Csikszentmihalyi see with flow?

A

That flow is one of the most rewarding experiences in life that adds to a persons overall well being and suggests that one should seek opportunities to punctuate life with activities that are intrinsically rewarding

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31
Q

What is the dark side of flow?

A

Has addictive behaviors, obsessions, problematic use, impulsiveness

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32
Q

What are the steps in decision making process?

A
  1. Problem recognition
  2. Information search
  3. Alternative evaluation
  4. Choice
  5. Outcomes of choice
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33
Q

What is problem recognition?

A

A realization that is a difference exist between a consumers actual state and ideal state

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34
Q

When can problem recognition occur?

A

High involvement and low involvement

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35
Q

What is a need recognition?

A

recognizing you need something to fix your situation

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36
Q

What is opportunity recognition?

A

Is a situation where a consumers actual state stays the same and the ideal state is different

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37
Q

What is information search?

A

Where we identify appropriate information to fix our choices but it is not purely functional

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38
Q

What is pre purchase search?

A

Researching complex information to make the decision

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39
Q

What is ongoing search?

A

This occurs independently of a specific immediate purchasing problem

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40
Q

Who identified the 5 classes of information?

A

Vogt and Fesenmaier

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41
Q

What are the five classes of information need?

A
  1. Functional
  2. Hedonic
  3. Sign
  4. Innovation
  5. Aesthetic
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42
Q

What are functional needs?

A

Acquisition of knowledge from ones own experiences, those of others, and through stimuli and reduce risk. These act as a way of educating a consumer about the products utility, attributes and applications

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43
Q

What are hedonic needs?

A

Are elements of pleasurable experiences that may occur during decision making

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44
Q

What are signs needs?

A

What are products saying ab out us and information passed to signify your social positions

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45
Q

What are innovation needs?

A

This is something that is new or different to a consumers

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46
Q

What are aesthetic needs?

A

Are information viewed as a stimulus to visual thinking to imagining the product and how it looks like in your life

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47
Q

What are internal search?

A

Resources that have previous experience s stored in memory to draw upon

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48
Q

What is external search?

A

May be needed for difficult purchase

49
Q

What are examples of incidental information?

A

By talking to people or noticing an ad

50
Q

What are alternative evaluation?

A

Third step of decision making and it is identified information that issued to evaluate the choices

51
Q

What are evoked set?

A

When consumers choose brands they already know

52
Q

What is consideration set?

A

When consumers look at brands they consider to buy

53
Q

What is inert set?

A

Brands that consumers don’t consider at all

54
Q

What is evaluative criteria?

A

Factors used to compare things to make a choice

55
Q

What are potential factors that will be considered in the evaluative criteria?

A

Beliefs, attitudes and intentions

56
Q

What are outcomes of choice?

A

How people feel about their purchases

57
Q

What is disconfirmation paradigm?

A

The difference between a consumers pre purchase expectations of the product performance and their post purchase experiences

58
Q

What are the possible scenarios of the disconfirmation paradigm

A

A product is perceived to perform better than expected

59
Q

What do consumers look for?

A

Reasons for satisfaction or dissatisfaction

60
Q

What is the attribution theory?

A

This seeks to understand how consumers can rationalize their satisfaction or dissatisfaction

61
Q

Why do attributes arise?

A

Its when one evaluates the extent to which the initial product performance corresponds to ones aspiration that product and one then questions the outcome

62
Q

What are some key points of attributions?

A
  1. Type of product will affect the nature of attribution, mass produced products = lead to stable attributions
  2. Unstable attributes = likely to occur when the nature of product means that the quality could vary
  3. Well formed expectation of a satisfactory or unsatisfactory experience can be difficult to change
  4. Attribution will be with or outside of the control of the consumer
63
Q

What do marketers need to be aware of the type of attribution?

A

They need to be aware that their products will likely be subject to and ensure that they respond appropriately

64
Q

Who studied different shopper types?

A

West Brooke and Black and Ganesh et al

65
Q

What are the different shopper types?

A
  1. Economic
  2. Social
  3. Apethic
  4. Enthusiast
  5. Basic
  6. Bargain
66
Q

What are economic shopers?

A

Price conscious people looking for a bargain

67
Q

What are social shoppers?

A

Those who enjoyed the social experience of going shopping

68
Q

What are apathetic shoppers?

A

Uninterested in shopping and not enjoying it

69
Q

What are apathetic shopers?

A

Indifferent to shopping

70
Q

What are enthusiast shoppers?

A

They enjoy shopping

71
Q

What are destination shoppers?

A

They find the right place to buy the brand or product they are after

72
Q

What are bargain seekers?

A

They want to find a good deal

73
Q

What are market mavens?

A

Active information seeking consumers who likes to communicate, provide information to others on a broad variety of goods, services and marketplace characteristics

74
Q

What are the hedonic reasons of purchasing

A

Getting pleasure from the activity

75
Q

Who published an exploratory review of 30 people aged between 20 and 47 and looked at social and personal motives of shopping?

A

Tauber in 1972

76
Q

What are the personal motives for shopping?

A
  1. Role playing
  2. Diversion
  3. Self gratification
  4. Learning about new trends
  5. Physical activity
  6. Sensory stimulation
77
Q

What is role playing according to tuber?

A

Relates to a certain role

78
Q

What is diversion according to tuber?

A

Shopping can be a recreational activity and can be a diversion for everyday life

79
Q

What is self gratification?

A

Shopping maybe a compensation for other problems in consumers’ lives

80
Q

What is learning about new trends?

A

Keeping up to date

81
Q

What is physical activity?

A

People shopping for exercise

82
Q

What is sensory stimulation?

A

Creating flow experience in shoppers

83
Q

What are social experiences in shopping

A

Social events

84
Q

What is communicating with others who have similar interests

A

Talking about something in common

85
Q

What did Royo Vela and Casamassima conclude?

A

That brand communities can be used by companies to increase customers levels of satisfaction and commitment and enhance positive word of mouth communication

86
Q

What is peer group attraction?

A

People are attracted to shop as a way for them to associate with their aspirational group

87
Q

What is status and authority in shopping

A

Feeling special

88
Q

What is pleasure of bargaining?

A

Pleasure of haggling or feel that they can get a deal

89
Q

Who identified four groups of online shopping?

A

Rohm and Swaminathan

90
Q

What are the four groups of online shopping

A
  1. Convenience shopper —> Convenience of shopping
  2. Variety seeker —> liked seeking across retail alternatives, products and brands
  3. Balanced buyer —> showed a lower likelihood to plan purchases and might be more impulsive
  4. Store oriented shopper —> they prefer physical orientations of the store and immediate possession of goods
  5. Comparison shoppers —> compare product features, prices and brands before making their purchases and actively look for promotional offers
  6. Blended shopping —> consumers mix and match interenet and online stores (order online and pick up in person)
91
Q

What is impulse purchasing

A

A strong urge to buy something without the thought of consequences

92
Q

What is accelerator impulse?

A

Impulsively buying for a future need

93
Q

What is compensatory impulse?

A

Make impulse purchases as a reward for success or as a compensation for failure

94
Q

What is breakthrough impulse?

A

Relates to the sudden need to make a purchase triggered by some kind of unconscious problem or issue

95
Q

What is blind impulse?

A

Impulse buys that are not easily explained or rationalized by the consumer

96
Q

Why is choice a good thing?

A

It means we can have more variety in style, price and content

97
Q

Why is choice viewed as a bad thing?

A

Leads to confusion and discomfort

98
Q

What is the paradox of choice?

A

Too much freedom and more choices leads consumers to be less happy with what they choose because it is hard to find the best especially in environments where there is a lot to choose from

99
Q

What is satisficing?

A

The approach of making a good enough decision after considering a limited number of alternatives

100
Q

What are the components of a satisficer consumer?

A

Choose a brand based on a threshold ie price

101
Q

How can marketers benefit with this information?

A

Marketers can use this information from purchasing statistics to identify where to invest and what products are kept in production and what is out

102
Q

What is maximizing?

A

Considers all alternatives and seeks out the best option

103
Q

What are heuristics?

A
  1. Mental shortcuts or rules to help fix decision making
  2. These can lead to less optimal decisions but can be useful for consumers in situations where there is a lot of choices but little differences between brands and the outcome of choice
104
Q

What are cognitive biases?

A

Systematic deviations from rationality in reasoning, memory, or evaluation

105
Q

Who categorized heuristics?

A

Jansson Boyd

106
Q

What are the four types of heuristics?

A
  1. Prediction
  2. Persuasion
  3. Compliance
  4. Choice
107
Q

What is prediction heuristics?

A

Used where the consumer is trying to predict a future outcome

108
Q

What is availability heuristics?

A

Judging the likelihood or frequency of something happening in the future by how easy it is to remember similar events

109
Q

What are representativeness heuristics?

A

Refers to judging something on the basis of how similar it is to something else

110
Q

Who found that people typecast features and make assumptions on the basis of stereotyping?

A

Tvversky and Kahneman

111
Q

What is persuasion heuristics?

A

Refers to how people take shortcuts the processing messages and deciding what to believe and how to behave

112
Q

What is the social proof?

A

Where majority of opinion is used for guidance

113
Q

What is compliance heuristics?

A

These are built around the likelihood of choosing something based on complying with a request

114
Q

What is scarcity heuristic?

A

Means that we place higher value on something judged to be rare or scarce

115
Q

What is reciprocity?

A

Involves apparent return of a favor

116
Q

What is choice heuristics?

A
  • Allows us to reduce the number of attributes to be considered for the possible alternative choices
  • These are oriented towards reducing cognitive efforts especially in situations where the product class is not very important where there are a lot of brands to choose from
117
Q

What is lexicographic heuristic?

A

Consumers decide which attribute is more important and select the brand that offers. the best value for this attribute

118
Q

What is anchoring?

A

Over reliance on one piece of irrelevant information to make a decision

119
Q

What is framing?

A

This refers to how we make a decision through the context where a choice is presented to us

Bus 347 (6 decks)

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