MKT 325 Midterm Exam Study Guide

Self-Concept

Beliefs and attitudes we have about ourselves in certain situations.

Role identities

Categories such as daughter, sister, friend, or club member that define our self-concept.

Extended Self

Seeing products as a part of ourselves (e.g., cars, clothing, home, pets).

Absolute Threshold

The lowest point at which a stimulus can be detected.

Differential Threshold / Just Noticeable Difference

The minimal change in a stimulus that can be detected.

Exposure

Consumers encountering stimuli through their senses.

Subliminal Perception

Stimuli below the threshold of awareness.

Adaptation

Consumers become desensitized to repeated stimuli.

Perception

The process of receiving, selecting, and interpreting sensory information.

Classical Conditioning

Associating stimuli with a response.

Operant Conditioning

Learning influenced by consequences.

Short-Term Memory

Temporary storage of information.

Long-Term Memory

Memory storage that includes semantic, episodic, and flashbulb memories.

Working Memory

Where information is temporarily stored and processed.

Cue

A stimulus that triggers memory recall.

Extinction

The weakening of a learned response when reinforcement is removed.

Retention

The ability to remember and recall information.

Five-Factor Model of Personality

A model describing personality traits on a spectrum such as extroversion vs. introversion.

Consumer Ethnocentrism

Preference for domestic products over foreign products.

Need for Cognition

The desire for detailed information for decision-making confidence.

Need for Uniqueness

Desire to differentiate oneself through product choices.

Low Self-Monitor

Stable personality across different situations.

High Self-Monitor

Adaptive personality based on situational contexts.

Priming

Subtle influences that affect consumer perception.

Nudging

Encouraging behavior through small suggestions.

Symbolic Value

The meaning or status associated with a product.

Loss Aversion

The tendency to fear losses more than valuing gains.

Diffusion

The process by which a new idea or product is accepted by the market.

Norm

Set of informal rules in society guiding behavior.

Custom

Behaviors that have been passed from generation to generation.

Default

The pre-selected option consumers often stick with.

Proximity

Perception that things close together are related.

Observation

Watching consumer behavior to gather insights.

Chunking

Grouping information to facilitate memory.

Ethnography

Studying consumers through observation and engagement with them in real-world settings.