Marketing 4220 Exam 1
Pareto Principle
80% of sales come from 20% of customers
Memory System
A kind of memory (e.g., episodic memory, semantic memory) that operates on distinct principles and stores a distinct kind of information
Recall
A measure of memory in which the person must retrieve information learned earlier, as on a fill-in-the-blank test.
20% of a firm's customers are responsible for 80% of sales
According to the Pareto Principle: a. 20% of a firm's customers are responsible for 20% of sales b. 80% of a firm's customers are responsible for 20% of sales c. 80% of a firm's customers are responsible for 80% of sales d. 20% of a firm's customers are responsible for 80% of sales
Approach-avoidance
Amy wants to order a delicious looking dessert but will feel bad about the price and calories. What type of motivational conflict is Amy experiencing? a. Approach-avoidance b. Approach-approach c. Avoidance-avoidance d. No conflict; buy the Mercedes, Amy
hedonic
Buying something purely for the emotional benefit is a __________ motive. a. utilitarian b. demographic c. role theory d. hedonic
Third-party
Complaining via a source like Yelp when a product or service doesn't meet your expectations is which type of consumer rights response? a. Third-party b. Response c. Voice d. Private
Approach-Approach
Conflict that results from having to choose between two attractive alternatives
Avoidance-Avoidance
Conflict that results from having to choose between two distasteful alternatives
Cause marketing
Coors Seltzer gives money from each 12 pack sold to the organization called Change the Course to restore 500 gallons of river water. This is an example of a for-profit company aligning with a cause and it's called: a. Cause marketing b. Greenwashing c. Social marketing d. Green marketing
Endowment effect
Customers will pay more for a product if they pick it up and touch it. What is this called? a. Sensory marketing b. Perception c. Endowment effect d. Sensory effect
function; disposed
From the consumer's perspective in the post-purchase phase they determine if the product provides pleasure or performs its intended _____ and how the product will be eventually _______ and affect the environment.
Need; Information
From the consumer's perspective in the pre-purchase phase they must decide if they ____ a product and where they can find _________ about the product and/or alternative choices.
Stressful
From the consumer's perspective in the purchase phase they evaluate whether acquiring a product is _____ and what the product says about themselves.
satisfied
From the marketer's perspective in the post-purchase phase they determine if a consumer will be _______ and whether they will buy it again or tell others about their experiences with the product.
attitudes; cues
From the marketer's perspective in the pre-purchase phase they must determine how consumers ______ are towards products and which ____ consumers use to decide which products are superior to others.
situational factors
From the marketer's perspective in the purchase phase they evaluate whether ______ ______, such as time pressure and store displays, affect a consumer's purchase decision.
Sign
In the semiotic relationship of the Most Interesting Man Alive campaign we discussed, the Most Interesting Man spokesperson is the.... a. Sign b. Object c. Index d. Interpretant
Social Marketing
Marketing conducted in an effort to achieve social change.
several senses
Marketing messages are more effective when they appeal to ____ _______
Situational
Nina goes to the new Dick's store that features rock climbing. She has never done this before and she loves it. She decides to buy equipment and start a new hobby which she wouldn't have done if she didn't try it in the store environment. This is an example of which type of involvement? a. Situational b. Message c. Product d. Motivational
Positive Affect
Pleasant emotions such as joy, happiness, and interest.
Stimulus selection factors
Size, color, position, contrast, and novelty are all a. Endowment factors b. Perceptual factors c. Attention factors d. Stimulus selection factors
Figure-Ground Principle
The Gestalt perceptual organizational principle that the brain organizes sensory information into a figure or figures (the center of attention) and ground (the less distinct background).
market access
The ability to find and purchase goods and services is called: a. functional literacy b. market access c. Stewardship d. media literacy
adaptation
The degree to which people continue to notice a stimulus over time is referred to as: a. perception b. habituation c. adaptation d. attention
Self-Actualization
The highest level of Maslow's Hierarchy of Needs is: a. Physiological b. Belongingness c. Self-Actualization d. Psychological
Trade Dress
The image and overall appearance ("look and feel") of a product that is protected by trademark law.
just noticeable difference (JND)
The smallest difference in the amount of stimulation that a specific sense can detect.
Narrative
The telling of a story or an account of an event or series of events.
Drives
Urges to perform certain behaviors in order to resolve physiological arousal when that arousal is caused by the biological needs of the organism
Delayed Gratification
Voluntarily postponing an immediate reward in order to complete a task before enjoying a reward.
the hedonic treadmill
We buy things we think will make us happy, but then satisfaction diminishes after purchase. This is referred to as: a. curation b. the hedonic treadmill c. provenance d. materialism
Associative networks
We store information in organized systems of related information called.... a. Memory systems b. Activation networks c. Associative networks d. Encoding
Pre-purchase issues, Purchase Issues, Post-Purchase Issues
What are the 3 aspects of the Consumption Process?
Exposure, Attention, Interpretation
What are the 3 stages of Perception?
Interpretation
What is the final stage of the perception process? a. Attention b. Stimuli c. Interpretation d. Exposure
Encoding
What is the first stage of the memory process? a. Storage b. Attention c. Retrieval d. Encoding
Interdependence
When a product is something the user relies on to complete their daily routine, this attachment is called: a. Nostalgia b. Love c. Interdependence d. Self-concept
Valence
When it comes to motivation, goals have direction. What is this direction called? a. Homeostasis b. Drive c. Motivation d. Valence
Curation
When products are carefully chosen by an expert that is called... a. Curation b. Provenance c. Materialism d. Green marketing
Emotion
Which of the following affective responses is tied to an event, can be changed, and is not long lasting? a. Evaluation b. Affect c. Mood d. Emotion
Instrumental/operant conditioning
Which of the following behavioral learning processes happens through reinforcement? a. None of these b. Incidental learning c. Classical conditioning d. Instrumental/operant conditioning
Lifestyle
Which of the following is NOT a demographic variable? a. Age b. Family structure c. Lifestyle d. Gender
Marketing products
Which of the following is NOT part of the definition of consumer behavior? a. Purchasing products b. Disposing of products c. Marketing products d. Purchasing experiences
Classical
Which of the following learning processes happens by repeatedly pairing a conditioned and an unconditioned stimulus? a. Classical b. Incidental c. Cognitive d. Instrumental/operant
Variable-Ratio Reinforcement
Which reinforcement schedule works best?
Fixed interval
You are taking a scheduled quiz that you knew when to expect. You probably waited to study for it until right before you took it. Major sales at retail stores that happen annually work the same way. These are based on TIME. What type of reinforcement schedule is this? a. Fixed ratio b. Variable ratio c. Variable interval d. Fixed interval
Approach-Avoidance
a choice must be made about whether to pursue a single goal that has both attractive and unattractive aspects
Big Data
a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools
Schema
a concept or framework that organizes and interprets information
Sensory Overload
a condition where consumers are exposed to far more information than they can process
Product Involvement
a consumer's level of interest in a particular product
Stimulus Discrimination
a learned ability to differentiate among similar products
Classical Conditioning
a learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.
Relationship Marketing
a marketing strategy that focuses on keeping and improving relationships with current customers
Recognition
a measure of memory in which the person need only identify items previously learned, as on a multiple-choice test
Elaborative Rehearsal
a method of transferring information from STM into LTM by making that information meaningful in some way
Social Needs
a person's needs for affection, belongingness, acceptance, and friendship
Addictive Consumption
a physiological or psychological dependency on products or services
Cradle to Cradle
a product that uses no new resources in production or disposal
Gestalt Psychology
a psychological approach that emphasizes that we often perceive the whole rather than the sum of the parts
Learning
a relatively permanent change in an organism's behavior due to experience
Script
a sequence of events an individual expects to occur
Want
a specific manifestation of a need that personal and cultural factors determine
Materialism
a tendency to consider material possessions and physical comfort as more important than spiritual values.
Need for Power
a tendency to seek impact, control, or influence over others and to be seen as a powerful individual
Short-Term Memory
activated memory that holds a few items briefly before the information is stored or forgotten
Exchange Process
activity in which two or more parties give something of value to each other to satisfy perceived needs
Product Line Extension
adding additional products to an existing product line in order to compete more broadly in the industry
Symbol
an agreed upon association
Voice-Response
an appeal directly to the company
Endowment Effect
an emotional bias that causes individuals to value an owned (or touched) item above its market value
Hedonic
an experiential need, involving emotional responses or fantasies
Sign
an image related to the product
Motivation
an internal state that activates behavior and directs it toward a goal
Rationalizing
attempt to explain or justify (one's own or another's behavior or attitude) with logical, plausible reasons, even if these are not true or appropriate.
Triple Bottom-Line Orientation
business strategies that strive to maximize financial, social, and environmental return
Third-Party Response
complaints via another source
Similarity Principle
consumers tend to group together objects that share similar physical characteristics
Consumer Involvement
degree of personal relevance a consumer finds in pursuing value from a particular category of consumption
Need for Achievement
desire for accomplishment, mastery of people, ideas, things, desire for reaching a high standard
Need for Affiliation
desire to associate with others, to be part of a group, to form close and intimate relationships
Post-Decision Dissonance
dissonance aroused after making a decision, typically reduced by enhancing the attractiveness of the chosen alternative and devaluating the rejected alternatives
Private-Response
express dissatisfaction to friends or boycott store
Moods
feelings that tend to be less intense than emotions and that lack a contextual stimulus
Attention
focusing awareness on a narrowed range of stimuli or events
Behavioral Learning
forms of learning, such as classical conditioning and operant conditioning, that can be described in terms of stimuli and responses
Reinforcement
in operant conditioning, any event that strengthens or reinforces the behavior it follows
Emotions
intense feelings that are directed at someone or something
Provenance
knowing where your goods come from
Observational Learning
learning by observing others; also called social learning
Incidental Learning
learning that occurs from repetition rather than from conscious processing
Decay
loss of memory due to the passage of time, during which the memory trace is not used
Shrinkage
losses experienced by retailers due to shoplifting, employee theft, and damage to merchandise
Marketerspace
marketing environment where companies decide what the marketplace will offer
Consumerspace
marketing environment where customers act as partners with companies to decide what the marketplace will offer
Sensory Marketing
marketing strategies that focus on the impact of sensations on our product experiences
Associative Networks
models for how pieces of information are linked together and stored in memory
Esteem Needs
need for self-esteem, achievement, competence, and independence; need for recognition and respect from others
Safety Needs
need to feel that the world is organized and predictable; need to feel safe, secure, and stable
Physiological Needs
needs relating to the basic biological necessities of life: food, drink, rest, and shelter
Negative Affect
negative emotions such as anger, guilt, and sadness
Interference
occurs when some information makes it difficult to recall similar material
Cause Marketing
occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products
Highlighting Effect
occurs when the order in which consumers learn about brands determines the strength of association between these brands and their attributes
Look-Alike Packaging
package designs that mimic the shapes and colors of well-known brands
Halo Effect
people react to similar stimuli in much the same way they react to the original stimulus
Maslow's Hierarchy of Needs
physiological, safety, social, esteem, self-actualization
Evaluations
positive or negative reactions to events and objects that are not accompanied by high levels of physiological arousal
Utilitarian
practical
Business Ethics
principles and standards that determine acceptable conduct in business
Intentional Learning
process by which consumers set out to specifically learn information devoted to a certain subject
Curation
products are carefully chosen by an expert
Cult Products
products that command fierce consumer loyalty, devotion, and maybe even worship by consumers
Message Involvement
properties of the medium and message content that influence a person's degree of engagement with the message
Inertia
refers to low-involvement buying behavior that is out of habit
Homeostasis
relatively constant internal physical and chemical conditions that organisms maintain
Icon
resembles a product
Fixed Interval Reinforcement
schedule of reinforcement in which the interval of time that must pass before reinforcement becomes possible is always the same
Variable Interval Reinforcement
schedule of reinforcement in which the interval of time that must pass before reinforcement becomes possible varies for each trial or event
Fixed-Ratio Reinforcement
schedule of reinforcement in which the number of responses required for reinforcement is always the same
Variable-Ratio Reinforcement
schedule of reinforcement in which the number of responses required for reinforcement is different for each trial or event
Licensing
selling the right to use some process, trademark, patent, or other right for a fee or royalty
Schema
set of expectations about objects and situations
Index
shares a property
Serial Wardrobers
shoppers who buy an outfit, wear it once, and return it
Need
something essential for survival
Demographics
statistical data relating to the population and particular groups within it.
Situational Involvement
temporary interest in an offering, activity, or decision, often caused by situational circumstances
Von Restorff Effect
tendency to remember distinctive stimuli better than less distinctive stimuli
Closure Principle
the Gestalt principle that describes a person's tendency to supply missing information in order to perceive a holistic image
Differential Threshold
the ability of a sensory system to detect changes in or differences between two stimuli
Brand Positioning
the act of designing the company's offering and image to occupy a distinctive place in the mind of the target market
Brand Equity
the added value a brand name gives to a product beyond the functional benefits provided
Punishment
the addition of a negative event to weaken a response
Drive Theory
the belief that behavior is motivated by drives that arise from biological needs that demand satisfaction
Perceived Risk
the belief that choice of a product has potentially negative consequences, whether financial, physical, and/or social
Consumer-Brand Attachments
the brands we buy say something about our identity. Self-Concept Attachment, Interdependence, Nostalgic, and Love.
Episodic Memory
the collection of past personal experiences that occurred at a particular time and place
Production Processes
the consumer has the ability to perform the behavior
Retention
the consumer retains behavior in memory
Habituation
the decreasing response to a stimulus with repeated exposure to it
Adaptation
the degree to which consumers continue to notice a stimulus over time
Need for Uniqueness
the desire for novelty through the purchase, use, and disposition of products and services
Green Marketing
the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment
Extinction
the diminishing of a conditioned response; occurs in classical conditioning when an unconditioned stimulus (US) does not follow a conditioned stimulus (CS); occurs in operant conditioning when a response is no longer reinforced.
Retroactive Interference
the disruptive effect of new learning on the recall of old information
Proactive Interference
the disruptive effect of prior learning on the recall of new information
Greenwashing
the exaggerated or false marketing of a product, good, or service as environmentally friendly
Market Access
the extent to which a consumer has the ability to find and purchase goods and services
Mood Congruency
the idea that our judgements tend to be shaped by our moods
Sensory Memory
the immediate, very brief recording of sensory information in the memory system
Material Accumulation
the instinct to earn more than we can possibly consume, even when this imbalance makes us unhappy
Operant (Instrumental) Conditioning
the learning of voluntary behavior through the effects of pleasant and unpleasant consequences to responses
Interpretant
the meaning derived from a sign or symbol
Absolute Threshold
the minimum stimulation needed to detect a particular stimulus 50 percent of the time
Hedonic Consumption
the multi-sensory, fantasy, and emotional aspects of consumers' interactions with products
Self-Actualization Needs
the need to be the best one can be; at the top of Maslow's hierarchy
Corporate Social Responsibility
the notion that corporations are expected to go above and beyond following the law and making a profit
Hedonic Treadmill
the observed tendency of humans to quickly return to a relatively stable level of happiness despite major positive or negative events or life changes
Role Theory
the perspective that much of consumer behavior resembles roles in a play
Sensory Threshold
the point at which a stimulus is strong enough to make a conscious impact on a person's awareness
Weber's Law
the principle that, to be perceived as different, two stimuli must differ by a constant minimum percentage (rather than a constant amount)
Sensation
the process by which our sensory receptors and nervous system receive and represent stimulus energies from our environment
Retrieval
the process of bringing to mind information that has been previously encoded and stored
Market Segmentation
the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups
Modeling
the process of observing and imitating a specific behavior
Perception
the process of organizing and interpreting sensory information, enabling us to recognize meaningful objects and events
Compulsive Consumption
the process of repetitive, often excessive, shopping used to relieve tension, anxiety, depression, or boredom
Storage
the process of retaining encoded information over time
Encoding
the processing of information into the memory system
Object
the product
Love Attachment
the product elicits emotional bonds of warmth, passion, or other strong emotion
Self-Concept Attachment
the product helps to establish the user's identity
Interdependence Attachment
the product is a part of the user's daily routine
Nostalgic Attachment
the product serves as a link to the consumer's past
Affect
the range of feelings in the forms of emotions and moods that people experience
Positive Reinforcement
the reinforcement of a response by the addition or experiencing of a pleasurable stimulus
Negative Reinforcement
the reinforcement of a response by the removal, escape from, or avoidance of an unpleasant stimulus
Long-Term Memory
the relatively permanent and limitless storehouse of the memory system. Includes knowledge, skills, and experiences.
Extinction
the removal of a positive event to weaken a response
Service Script
the sequence of events a consumer expects to experience in a service situation
Family Branding
the strategy in which a firm uses the same brand for all or most of its products
Psychographics
the study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.
Semiotics
the study of signs and symbols and their use or interpretation
Consumer Behavior
the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires
Perceptual Defense
the tendency for consumers to avoid processing stimuli that are threatening to them
Perceptual Viligance
the tendency for consumers to be more aware of stimuli that relate to their current needs
State-Dependent Retrieval
the tendency for information to be better recalled when the person is in the same state during encoding and retrieval
Stimulus Generalization
the tendency to respond to a stimulus that is only similar to the original conditioned stimulus with the conditioned response
Subliminal Perception
thought or behavior that is influenced by stimuli that a person cannot consciously report perceiving
Haptic
touch-related sensations
Database Marketing
tracking consumers' buying habits very closely, and then crafting products and messages tailored precisely to people's wants and needs based on this information
Counterfeiting
unauthorized copying and production of a product
Cognitive Dissonance
unpleasant mental experience of tension resulting from two conflicting thoughts or beliefs
Digital Natives
young people who have grown up using the internet and social networking
