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