MKT 347- Final Exam
Buzz is created by word-of-mouth advertising. OPTIONS- True False
Buzz is created by word-of-mouth advertising. Answer: True
Product information that individuals transmit to other individuals is called push promotion. OPTIONS- True False
Product information that individuals transmit to other individuals is called push promotion. Answer: False
antecedent states
Features of the individual person that are not lasting characteristics, such as momentary moods or conditions- situational factors, usage contexts, time pressure, mood, shopping orientation
brand communities
Groups of consumers who feel a commonality and a shared purpose grounded or attached to a consumer good or service.
Functions of Myths- Metaphysical
Help explain origins of existence
Functions of Myths- Sociological
Maintain social order by authorizing a social code to be followed by members of a culture
Most opinion leaders are celebrities rather than everyday consumers. OPTIONS True False
Most opinion leaders are celebrities rather than everyday consumers. Answer: False
red sneakers effect
Nonconforming behaviors, as costly and visible signals, can act as a particular form of conspicuous consumption and lead to positive inferences of status and competence in the eyes of others.
problem recognition
Occurs when consumer sees difference between current state and ideal state- need and opportunity recognition
Opinion leaders are likely to also be opinion seekers. OPTIONS- True False
Opinion leaders are likely to also be opinion seekers. Answer: True
Prerequisites for Successful Adoption- Trialability
People are more likely to adopt an innovation if they can experiment with it prior to purchase
membership reference groups
People the consumer actually knows Advertisers use "ordinary people"
aspirational reference groups
People the consumer doesn't know but admire Advertisers use celebrity spokespeople
Priming:
Physical cues prime us to react even when we are not aware of the impact
Steps in the decision making process
Problem recognition Information search Evaluation of alternatives Product choice
Prerequisites for Successful Adoption- Relative Advantage
Product should offer relative advantage over other alternatives
Profane consumption involves consumer objects and events that are ordinary. OPTIONS- True False
Profane consumption involves consumer objects and events that are ordinary. Answer: True
Functions of Myths- Psychological
Provide models for personal conduct
product utility
Refers to the usefulness of a product
Online social capital
Reputation economy and online gated community
Monomyths:
a myth that is common to many cultures (e.g., Spiderman and Superman)
Status hierarchy
a ranking of group members by their power and influence over other members
dyadic encounter
a series of questions used to help people better understand one another and thus enhance their communication and teamwork skills; a two person group
sharing economy
connecting owners of underused assets with others willing to pay to use them
Social capital
cooperative relationships that facilitate the resolution of collective problems
discontinuous innovation
creates really big changes in the way we live. EX- plane, car, computer
Executive control center
important decision making, including moral judgments, can be worn down or distracted even by simple tasks like memorizing numbers.
The underground economy
in the form of flea markets and other used-product sales formats is a significant element in the U.S. market
Habitual Decision making-
includes decisions made with little or no conscious effort. It could be due to : - Inertia - Brand Loyalty - Conscious decision
dynamically continuous innovation
is a significant change to an existing product
social identity
the "we" aspect of our self-concept; the part of our answer to "Who am I?" that comes from our group memberships
reward power
the ability of a manager to give or withhold tangible and intangible rewards
presentation
the actual stage of gift exchange
initiator
the buying center participant who first suggests buying the particular product or service
separation
the consumer distances him or herself from the past
reformulation
the giver and receiver redefine the bond of the relationship based on the impact of the gift exchange
gestation
the giver procures an item to mark some event. The event might be structural, meaning that is culturally dictated such as Christmas, or it may be emergent.
Horizontal Mobility
the movement of an individual from one social position to another of the same rank
legitimate power
the power a person receives as a result of his or her position in the formal hierarchy of an organization
Occupational prestige
the subjective evaluation people give to jobs; •Is stable over time and similar across cultures •Single best indicator of social class
Stages of Rites of Passage
separation, liminality, incorporation
Mental accounting:
framing a problem in terms of gains/losses influences our decisions
The creative subsystem
generates new symbols and products
gift giving stages
gestation, presentation, reformulation
A communications subsystem
gives meaning to the new product and provide it with a symbolic set of attributes
consumer tribes
group of people who share a lifestyle and who can identify with each other because of a shared allegiance to an activity or a product; share emotions, moral beliefs, styles of life, and affiliated product
Mental budget
helps us to estimate what we will consume over time so that we can regulate what we do in the present
Autonomic decision:
one family member chooses a product
The managerial subsystem
selects, makes, produces, and manages the distribution of new symbols and products
Morning Morality Effect
shows that people are more likely to cheat, lie, or even commit fraud in the afternoon than in the morning.
recommerce
(a play on the term e-commerce) shows that many consumers want to squeeze more value out of their possessions by selling or trading them
neuromarketing
(fMRI), a brain-scanning device that tracks blood flow as we perform mental tasks to take an up-close look at how our brains respond to marketing messages and product design features
Synoptic ideal
- far from reality •- The evolving roles of "wife" & "husband"
Roles in Collective Decision Making
1. Initiator 2. Gatekeeper 3. Influencer 4. Buyer 5. User
According to the principle of least interest, a person will gain power in a group as she decreases her commitment to the group. OPTIONS- True False
According to the principle of least interest, a person will gain power in a group as she decreases her commitment to the group. Answer: True
need recognition
Actual state declines
American spendthrifts outnumber American tightwads. OPTIONS- True False
American spendthrifts outnumber American tightwads. Answer: False
An economy that is driven by a fairly small number of rich people is OPTIONS- True False
An economy that is driven by a fairly small number of rich people is called a plutonomy. Answer: True
An example of social mobility is when a consumer moves from one social class to another. OPTIONS- True False
An example of social mobility is when a consumer moves from one social class to another. Answer: True
An individual's motivation to distance himself from a negative reference group cannot be as powerful as his motivation to please a positive group. OPTIONS- True False
An individual's motivation to distance himself from a negative reference group cannot be as powerful as his Answer: False
The day reconstruction method requires a respondent to ________. OPTIONS: try to remember what he or she did a month ago on the same day of the week keep a record of everything he or she recycles during the month keep a diary of everything he or she did during the day dispose of any unused product during a specified period of time
Answer: keep a diary of everything he or she did during the day
Stephanie loves flea markets and garage sales. She spends most of her Saturday mornings going from one to another. About once a month, she holds her own garage sale just to get rid of some of the items she purchased during the month. Stephanie is actively engaged in ________. OPTIONS: underground cycling lateral cycling freecycling divestment cycling
Answer: lateral cycling
A story containing symbolic elements that express the shared emotions and ideals of a culture is called a ________. OPTIONS: more ritual myth norm
Answer: myth
Influence network
Consumers communicate the information vigorously to one another and they also participate in a two-way dialogue with the opinion leader
Discretionary income is the money available to a household over and above that required for a comfortable standard of living. OPTIONS- True False
Discretionary income is the money available to a household over and above that required for a comfortable standard of living. Answer: True
Duane and Kenneth are both active members of Linkedin, a professional networking Web site. They follow and post to discussion boards, connect with colleagues, and frequently update their profiles. In networking terms, Duane and Kenneth are both nodes. OPTIONS- True False
Duane and Kenneth are both active members of Linkedin, a professional networking Web site. They follow and post to discussion boards, connect with colleagues, and frequently update their profiles. In networking terms, Duane and Kenneth are both nodes. Answer: True
Education is one determining factor in future income. OPTIONS- True False
Education is one determining factor in future income. Answer: True
Functions of Myths- Cosmological
Emphasize that all components of the universe are part of a single picture
When a Rolls-Royce, a Cartier diamond, and an Andy Warhol painting are bought and displayed as markers of social class, they are ________. OPTIONS: social inhibitors status symbols psychological blocks social parameters
Selected Answer: status symbols
coercive power
The ability of a manager to punish others
evoked set
The alternatives a consumer knows about is the evoked set
The most common method of identifying opinion leaders is to use the social registry document kept by most city newspapers. OPTIONS- True False
The most common method of identifying opinion leaders is to use the social registry document kept by most city newspapers. Answer: False
consideration set
The ones actually considered make up the consideration set
Information search
The process by which we survey the environment for appropriate data to make a reasonable decision.
The rising availability of comparison shopping phone apps does threaten the existence of many retailers. OPTIONS: True False
The rising availability of comparison shopping phone apps does threaten the existence of many retailers. Answer: True
The worldwide popularity of McDonald's suggests that there is a global consumer culture that unites people around the world by their common devotion to brands. OPTIONS- True False
The worldwide popularity of McDonald's suggests that there is a global consumer culture that unites people around the world by their common devotion to brands. Answer: True
Surrogate consumer:
a marketing intermediary hired to provide input into purchase decisions.
Information cascades
These conversations create information cascades that occur when a piece of information triggers a sequence of interactions (much like an avalanche).
Decision Rules : A. Compensatory Rule---Weighted additive rule
allows consumer to take in to account the relative importance by weighting.
Plutonomy
an economy that a small number of rich people control
minimal group paradigm
an experimental paradigm in which researchers create groups based on arbitrary and seemingly meaningless criteria and then examine how the members of these "minimal groups" are inclined to behave toward one another
Upward Mobility
an increase—or upward shift—in social class
timestyle
an individual's priorities regarding how he or she spends time as influenced by personal and cultural factors
Innovation:
any product that consumers perceive to be new
design thinking
approaching management problems as designers approach design problems
Market mavens
are actively involved in transmitting marketplace information of all types •They are into shopping and aware of what's happening in the marketplace •They have overall knowledge of how and where to get products
Expectancy disconfirmation model-
beliefs about a product based on prior experience
peer-to-peer commerce
decentralized platform whereby two individuals interact directly with each other, without intermediation by a third-party, or without the use of a company of business selling a product or service
Serial reproduction
does not resemble the original
Mindscape themes
draw on abstract ideas and concepts, fantasy, and often possess spiritual overtones. Day spas might reflect a spiritual theme
Decision Rules : Noncompensatory -- Conjunctive rule:
entails processing by brand
Consumer hyperchoice
forces us to make repeated decisions that may drain psychological energy while decreasing our abilities to make smart choices.
liminality
limbo stage; one stage in a rite of passage during which a ritual participant experiences a period of outsiderhood, set apart from normal society, that is key to achieving a new perspective on the past, future, and current community
heuristics
mental shortcuts
avoidance groups
motivation to distance oneself from other people/groups
Decision Rules : Noncompensatory -- Elimination-by-aspects rule:
must have a specific feature to be chosen like cut-offs
Sacralization
occurs when ordinary objects, events, and even people take on sacred meaning
Objectification
occurs when we attribute sacred qualities to mundane items, through processes like contamination
During lateral cycling....
one consumer exchanges something he or she owns for something the other person owns. EX- underground economy, recommerce, swishing
Organizational buyers:
purchase goods and services on behalf of companies for use in the process of manufacturing, distribution, or resale. •Involves many people •Requires precise, technical specifications •Is based on past experience and careful weighing of alternatives •May require risky decisions •Involves substantial dollar volume •Places more emphasis on personal selling
Consumer satisfaction/dissatisfaction (C S/D)-
reaction to a product after purchase
Homophily
refers to the degree to which a pair of individuals is similar in terms of education, social status, and beliefs
Ideology
refers to the mental characteristics of a people and the way they relate to their environment and social groups. This relates to the idea of a common worldview. Members of a culture tend to share ideas about principles of order and fairness.
Search engine optimization (SEO)
refers to the procedures companies use to design the content of Web sites and posts to maximize the likelihood that their content will show up when someone searches for a relevant term.
Prospect theory:
risk differs when we face gains versus losses
Constructive processing argues that
we evaluate the effort we'll need to make a particular choice and then tailor the amount of cognitive "effort" we expend to get the job done.
Desacralization:
when a sacred item/symbol is removed from its special place or is duplicated in mass quantities (becomes profane).
Counteractive construal
when they exaggerate the negative aspects of behaviors that will interfere with the ultimate goal.
A feedback loop is
when we provide people with information about their actions in real time, and then give them a chance to change those actions so that you push them to improve.
Prerequisites for Successful Adoption- Complexity
A product that is easy to understand will be chosen over competitors
Loss aversion:
We emphasize losses more than gains
A consumer's belief about what the future holds is an indicator of consumer confidence. OPTIONS- True False
A consumer's belief about what the future holds is an indicator of consumer confidence. Answer: True
A good metaphor for women whose timestyles are spontaneous in their planning orientation and have a present focus is "Time is a mirror." OPTIONS True False
A good metaphor for women whose timestyles are spontaneous in their planning orientation and have a present focus is "Time is a mirror." Answer: False
A membership reference group comprises idealized figures such as successful business people, athletes, or performers. OPTIONS- True False
A membership reference group comprises idealized figures such as successful business people, athletes, or performers. Answer: False
information power
A type of marketing channel power that occurs if the channel member exerting the power has information that the other channel member wants or needs and can therefore get them to do what they want.
A customer buying an unfamiliar product that carries a fair degree of risk would most likely engage in ________ decision making? OPTIONS: affective limited cognitive habitual
Answer: cognitive
According to ________, we evaluate the effort we'll need to make a particular choice and then we tailor the amount of cognitive "effort" we expend to make that choice. OPTIONS: constructive processing cognitive processing mental processing behavioral processing
Answer: constructive processing
An interrelated function in culture that maintains social order because it authorizes a social cope for members of a culture to follow is called psychological. OPTIONS- True False
An interrelated function in culture that maintains social order because it authorizes a social cope for members of a culture to follow is called psychological. Answer: False
A bucket in consumer decision making is ________. OPTIONS: cognitive habitual affective All of these
Answer: All of these
A reason why consumers conform is ________. OPTIONS: cultural pressures fear of deviance commitment All of these
Answer: All of these
The plain and simple fact is that Ralph has body odor. Worse than that, Ralph does not seem to care. Ralph's clothes are in shambles, and his personal hygiene could certainly be improved. For most people, Ralph would be in which of the following groups? OPTIONS: Aspirational group Cohesive group Deindividualization groups Avoidance groups
Answer: Avoidance groups
_______ measures how optimistic or pessimistic people are about the future health of the economy and how they will fare in the future. OPTIONS: Saving rate Credit score Consumer confidence Income inequality
Answer: Consumer confidence
Which of the following is NOT one of the three distinct stages of gift-giving rituals? OPTIONS: Presentation Gestation Reformulation Convention
Answer: Convention
_______ derives from the knowledge that a consumer possesses about a content area. OPTIONS: Coercive power Expert power Reward power Referent power
Answer: Expert power
______ is the process by which the consumer surveys the environment for appropriate data to make a reasonable decision. OPTIONS: Product choice Information search Evaluation of alternatives Problem recognition
Answer: Information search
Of the countries listed below, which is thought to be highly status-conscious? Answers:Brazil; Canada; Spain ; Japan
Answer: Japan
Casinos make their interiors very plush and expensive looking, knowing that gamblers who would be reluctant to make a $10 bet in average surroundings would gladly make $100 wagers in luxurious surroundings. Which of the following best explains gamblers' behavior? OPTIONS: The luxurious surroundings increase the probability of classical conditioning through mere exposure, which results in behavior that is not rational. Mental accounting emphasizes the extraneous characteristics of the choice environment even if the results are not rational. Most people are unaware of the true risk of making certain decisions and believe that a larger wager has higher odds of winning. The functional risk of gambling is decreased in luxurious surroundings, leading gamblers to wager more.
Answer: Mental accounting emphasizes the extraneous characteristics of the choice environment even if the results are not rational.
A coupon-dispensing machine in a grocery aisle and an employee handing out free samples of a new product are both examples of ________. OPTIONS: pretailing shopping orientations POP stimuli retail theming
Answer: POP stimuli
With respect to social organization, some barnyard animals exhibit signs of a dominance-submission hierarchy. Which of the following terms best illustrates such a hierarchy? Answers:Dog-eat-dog; Social class ; Pecking order; King-of-the-hill
Answer: Pecking order
The perception of time is different in different cultures. It would likely be most accepted for employees to be paid by the hour in a culture with which of the following perceptions of time? OPTIONS: River Map Mirror Pressure cooker
Answer: Pressure cooker
_______ occurs whenever the consumer sees a significant difference between his or her current state of affairs and some desired state. OPTIONS: Evaluating alternatives Problem recognition Information search Evaluating of evoked set
Answer: Problem recognition
________ is when ordinary objects, events, and even people take on sacred meaning. OPTIONS: Objectification Profane consumption Contamination Sacralization
Answer: Sacralization
________ refers to the passage of individuals from one social class to another. OPTIONS: Social prestige Social affinity Social mobility Social class
Answer: Social mobility
Which of the following is NOT listed as a determiner of how much a person will save (saving rate)? Answers: The relationship between the lending prime rate and growth rates; Cultural differences; World events such as wars; The individual's own sense of optimism about his or her personal circumstances
Answer: The relationship between the lending prime rate and growth rates
What is a major distinction between customers who purchase a product because they are brand loyal and those who purchase by inertia? OPTIONS: Whether the purchase is made after a compensatory or noncompensatory decision process Whether the customers hold a very positive or weak attitude toward the productT he social risk of the product The cost of the product
Answer: Whether the customers hold a very positive or weak attitude toward the product
The average American's standard of living continues to improve. These income shifts are linked to two key factors: ________. OPTIONS: a shift from blue-collar to white-collar employment and an increase in computer usage an increase in immigration to the U.S. and the increase of technical skills a shift in population from the North to South and advances in human rights a shift in women's roles and an increase in educational attainment
Answer: a shift in women's roles and an increase in educational attainment
In the cultural production process, the people who control the flow of information between producers and customers are called ________. OPTIONS: cultural gatekeepers cultural informers innovators lead users
Answer: cultural gatekeepers
Tory Burch flats, cage-free eggs, electric cars, selfies, and high tech furniture are part of the ________. OPTIONS: cultural movement value movement lifestyle movement marketing concept movement
Answer: cultural movement
Home shopping parties may activate the risky shift or ________, in which the individual at the party may get so caught up in the party spirit that he orders products that he would normally not purchase. OPTIONS: deindividuation principle of least interest homophily surrogate shift
Answer: deindividuation
People often make decisions on the basis of a mental accounting. One facet of this accounting is making a decision based on the way a problem was posed. This is called ________. OPTION: loss aversion positioning the sum-cost fallacy framing
Answer: framing
Recent research on opinion leadership has called into question the traditional view that there are ________ opinion leaders, whose recommendations people see for all purchases. OPTIONS: polymorphic monomorphic generalized heterophilous
Answer: generalized
Luminaries from Amazon, Google, and Twitter tend to use ________. OPTIONS: hedonic adaptation social capital cultural capital glamping
Answer: glamping
A tendency for people to marry in a social class similar to their own is called ________. OPTIONS: social dating social stratification affluenza homogamy
Answer: homogamy
One percenters are an example of ________. OPTIONS: income inequality pay pay ratio saving rate plutonomy
Answer: income inequality pay
Consumers who always are on the lookout for novel products or services and who are first to try something new are ________. OPTIONS: early adopters innovators continuous innovation laggards
Answer: innovators
Tanya type scans the newspaper ads every day for new information about current fashion styles and trends, even though she isn't thinking about buying clothes anytime soon. Tanya is engaging in a(n) ________ search. OPTIONS: delayed ongoing internal pre-purchase
Answer: ongoing
Consumer satisfaction/dissatisfaction is part of the ________ step of the consumer decision-making process. OPTIONS: evaluation of alternatives postpurchase evaluation product choice problem recognition information search
Answer: postpurchase evaluation
When a consumer is determining her overall feelings or attitudes about a product after purchasing it, she is involved in the ________ step of the consumer decision-making process. OPTIONS: postpurchase evaluation product choice information search evaluation of alternatives problem recognition
Answer: postpurchase evaluation
The first stage in the consumer decision-making process is ________. OPTIONS: problem recognition evaluation of alternatives information search product choice
Answer: problem recognition
According to the consumer behavior model presented in the text, the ________ includes the shopping experience, point-of-purchase stimuli, and sales interactions. OPTIONS: antecedent state cognitive process post-purchase process purchase environment
Answer: purchase environment
A special ritual marking a person's transition from one role to another is called a ________. OPTIONS: cycle rite of passage convention sacralization
Answer: rite of passage
Tara was shopping for a new pair of shoes for work. The salesperson was very helpful and friendly, bringing Tara some styles she hadn't thought to try on but that she ended up really liking. Noticing Tara's University of Wisconsin tee-shirt, the salesperson said that she was a student there. Tara ended up buying three pairs of shoes rather than the one pair she had planned on. Tara's experience shows the effect of ________ on consumer behavior. OPTIONS: atmospherics retail theming reward power salespeople
Answer: salespeople
Trisha grew up in a drug-ridden inner city neighborhood. Through sheer determination and intelligence, Trisha is now a medical doctor teaching on the staff of a large university hospital. Trisha is proud of what she has accomplished, but sometimes she feels stressed and uncertain of who she really is. The concept of ________ assesses the impact of such inconsistencies. Answers: habitus; invidious distinction ; status crystallization; homogamy
Answer: status crystallization
A(n) ________ is a marketing intermediary retained by a consumer to guide what that consumer buys. OPTIONS: market maven surrogate consumer opinion leader power user
Answer: surrogate consumer
When people are differentiated in terms of their aesthetic and intellectual preferences, a ________ is being applied. Answers:social cluster consumption ; constellation ; taste culture; culture code designation
Answer: taste culture
Homophily refers to the degree to which a pair of individuals is similar in terms of education, social status, and beliefs. OPTIONS- True False
Homophily refers to the degree to which a pair of individuals is similar in terms of education, social status, and beliefs. Answer: True
Hong Kong Disneyland is an example of an emic perspective. OPTIONS- True False
Hong Kong Disneyland is an example of an emic perspective. Answer: True
opportunity recognition
Ideal state moves upward
In many cultures, myths feature talking animals that act as mediating figures. OPTIONS- True False
In many cultures, myths feature talking animals that act as mediating figures. Answer: True
In the modern holiday ritual of Christmas, the figures of Christ and Santa can be seen as binary opposites; one promotes selflessness while the other promotes materialism. OPTIONS- True False
In the modern holiday ritual of Christmas, the figures of Christ and Santa can be seen as binary opposites; one promotes selflessness while the other promotes materialism. Answer: True
Prerequisites for Successful Adoption- Compatibility
Innovation should be compatible with consumers' lifestyles
Prerequisites for Successful Adoption- Observability
Innovations that are easily observable are more likely to spread
Two-step flow model of influence
It proposes that a small group of influencers disseminates information because they can modify the opinions of a large number of other people.
Sunk-cost fallacy:
We are reluctant to waste something we have paid for
cybermediary
a Web site or app that helps to filter and organize online market information so that customers can identify and evaluate alternatives more efficiently
horizontal revolution
a fundamental change in how consumers communicate via social media, whereby information doesn't just flow from big companies and governments; information flows across people as well
Taste culture
a group of consumers who share aesthetic and intellectual preferences
Downward Mobility
a lowering of one's social class
Rituals
are sets of multiple, symbolic behaviors that occur in a fixed sequence and that tend to be repeated periodically. Many consumer activities are ritualistic. •Trips to Starbucks •Sunday brunch
Intelligent agents
are sophisticated software programs that use collaborative filtering technologies to learn from past user behavior to recommend new purchases.
Myths
are stories with symbolic elements that represent the shared emotions/ideals of a culture. Story characteristics: •Conflict between opposing forces •Outcome is moral guide for people •Myth reduces anxiety by providing guidelines
Marketscape themes
build on associations with man-made places. The Venetian Hotel in Las Vegas is an example of a marketscape
Cyberspace themes
build on information and communications technology. eBay uses this approach
Point Of Purchase
can be an elaborate product display or demonstration, a coupon dispensing machine, or an employee who gives out free samples of a new cookie in the grocery aisle.
antibrand communities
coalesce around a celebrity, store, or brand—but in this case they're united by their disdain for it
mass culture
common culture experienced by a large number of people
Decision Rules :Noncompensatory -- Lexicographic rule:
consumers select the brand that is the best on the most important attribute
Spendthrifts
consumers who derive pleasure from large-scale purchasing
Syncretic decision:
involve both partners -Used for cars, vacations, homes, appliances, furniture, home electronics, interior design, phone service -As education increases, so does syncretic decision making
Profane consumption:
involves consumer objects and events that are ordinary and not special
Sacred consumption:
involves objects and events that are set apart from normal activities that are treated with respect or awe
Total Quality Management (TQM)
is a complex set of management and engineering procedures that aims to reduce errors and increase quality.
continuous innovation
is a modification of an existing product- EX- a new type of jean cut
Framing:
is how we pose a question to people or how we ask them to do something.
Prediction market
is one of the hottest trends in organizational decision-making techniques
Long tail
is that we no longer need to rely solely on big hits (such as blockbuster movies or best-selling books) to find profits.
Culture
is the accumulation of shared meanings, rituals, norms, and traditions; is a society's personality
Feature creep
is the complexity of features that products provide
A culture production system
is the set of individuals and organizations that create and market a cultural product. It has three major subsystems: •Creative •Managerial •Communications
Collecting
is the systematic acquisition of a particular object or set of objects
collaborative consumption
joining together as a group to use a specific product more efficiently
Decision Rules : A. Compensatory Rule --Simple additive rule
leads to the option with the largest number of positive attributes
swishing
people organize parties to exchange clothing or other personal possessions with others
referent power
power that comes from subordinates' and coworkers' respect, admiration, and loyalty
expert power
power that is based on the special knowledge, skills, and expertise that a leader possesses
Ecology
refers to the way a system adapts to its habitat. The technology a culture uses to obtain and distribute resources shapes its ecology
Social structure
refers to the way people maintain an orderly social life. This includes the domestic and political groups that dominate the culture.
Business-to-business (B2B) marketers:
specialize in meeting needs of organizations such as corporations, government agencies, hospitals, and retailers
Cultural capital
the symbolic and interactional resources that people use to their advantage in various situations
Opinion leader
their recommendations are more influential than others when we decide what to buy. - Generalized opinion - Monomorphic- experts in a limited field - Polymorphic- experts in several fields
Abranding
they disguise their luxury items in the belief that high-status people do not need to display expensive logos, so those who do betray lower status.
Sociometric methods
trace communication patterns among group members
crowdsourcing
using consumers to develop and market products