CH. 1,2,3,4

Heuristics

"mental rules of thumb" Ex: more expenses things are better quality OR buy the same brand I bought last time

Determinant attribute

- owning a specific brand will make a person feel good

Affect

-many of our decisions are driven by our emotional responses to products. these reactions are called _____.

information-processing perspective

-what most people do when making decision -weighing the pros and cons of something - using the info that they already know about it.

Affective decision making

occurs when our emotional reactions determine how we react to a product.

Objectification

occurs when we attribute sacred qualities to mundane items, through processes like contamination

steps in the consumer decision Making :

1. Problem recognition 2. informational search 3. evaluation of alternatives 4. product choice 5. outcomes

Steps in the cognitive decision-making process:

1. problem recognition 2. information search 3. evaluation of alternatives 4. product choice

3 types of involvement

1. product 2. message 3. situational - the way we evaluate and choose a product depends on our degree of involvement with that PRODUCT, the marketing MESSAGE, and/or the purchase SITUATION.

Smartphone GPS Signals Social media posts credit card transactions

Big data is generated from:

A customer buying an unfamiliar product that carries a fair degree of risk would engage in: -the outcome of a series of stages that results in the selection of one product over competing options.

Cognitive decision-making

Which relationship between product and customer is most at risk when customer switches brands?

Interdependence

A(n) ________ refers to a set of beliefs and the way we organize those beliefs in our minds.

Knowledge structure

A consumer who moves his or her ideal state upward is experiencing ________ recognition.

Opportunity

George sees everything as "black or white-no in between." George may be characterized as a:

Positivist

Promoters attempting to have their products shown prominently in films use what promotion tool?

Product Placement

Under ________, utility is defined in terms of gains and losses. -describes how people make choices.

Prospect theory

Decision strategy that seeks to deliver an adequate solution rather than best solution is: -happy to exert less mental effort & simply receive an adequate outcome

Satisficing

When in a good mood or uninvolved in other activities a consumer is most likely to engage in:

Variety seeking

Pre-purchase Purchase Post-purchase

Which of the following time periods is encompassed in the study of consumer behavior?

consumer goods pricing acts

bans price maintenace

Rules of conduct that guide actions in the marketplace are known as ________.

business ethics

Habitual decision making

describes the choices we make with little or no conscious effort- many purchase decisions are so routine we may not realize we've made them until we look in our chopping carts.

Features actually used to differentiate among choices are called ________ attributes.

determinant

The learning process when we learn the beliefs/behaviors endorsed by our own culture is called:

enculturation

Internet Tax reform act

established moratorium on special taxation of the internet

Coca-Cola is an example of a(n) ___product because it characterizes the soft drink category.

exemplar

Making false claims about the environmental friendliness of products by companies is called:

greenwashing

consumer product safety acts

identify, set standards, recall ,ban

Market Segmentation strategies

means an organization targets its products, service, or idea only to specific groups of consumers rather than to everyone

A ________ is a custom with a strong moral overtone.

more

Ecology

our environment and how we adapt to our habitat

Magnuson-moss warranty - improvement act

product warranties and FTC policies regarding deceptive praticies

Dodd-Frank Wall street reform and consumer protection act (2010)

promotes financial stability

A special ritual marking a person's change in social status is called a ________.

rite of passage

the nutrition labeling and education act

the newest rules on food labeling

Perceived risk

the person believes there may be negative consequences if he or she chooses the wrong option

Mental accounting

the way we pose a problem and whether it's phrased in terms of gains and losses influences our decision

Consumption Communities

where members share opinions and recommendations about anything from Barbie dolls to baseball fantasy league times lines up to iphone apps

Market Regulation

why people look to govt.'s and industry watchdogs to provide oversign and regulation rather than relying stricktly on business to police them sleeves.

Do marketers create artificial needs?

yes

Consumer

A person who identifies a need / desire, makes a purchase, and then disposes of a product is a:

Brand Loyalty

The bond between product and consumer that is difficult for competitors to break is called:

Relationship Marketing

The marketing philosophy that emphasizes interacting with customers on a regular basis is:

Need

a basic biological motive

Product Involvement

a consumer's level of interest in a particular product

lovemark

a passionate commitment to one brand

Want

one way that society has taught us that the need can be satisfied

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