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