mkt 3020 exam 1

marketing

process of delivering value

consumer behavior

study of people as they seek value in addressing needs

basic consumption process

need, want, exchange, cost and benefit, reaction, value

consumer behavior as strategy

researching and understanding of consumers to make business decisions

consumer orientation

business priority is consumer value and satisfaction

why study consumer behavior

marketing strategy, society and public policy, consumer introspection

input to marketing strategy

what and why people buy, understanding the value each customer receives

consumer behavior to society

serves as important input to public policy, cb creates society

primary data

collected by the researcher for the specific purpose

secondary data

data collected for another purpose than the problem at hand

qualitative data

interpretive, underlying meanings, small samples, results subjective

quantitative data

numerical data, test hypothesis, results objective, large samples

internal influences

perception, memory, attitudes, personality

external influences

social and cultural influences

utilitarian value

helps customer solve problem or accomplish task

hedonic value

immediate gratification from experiencing activity

total value concept

companies understand products provide value in multiple ways

learning

knowledge acquired through experience study or being taught

intentional learning

set out to specifically learn about a subject

unintentional learning

sense and react to environment

perception

consumers awareness and interpretation of reality

perception process

sensing, organizing, reacting

classical conditioning

US, UR, NS, CS, CR

unconditioned stimulus

evokes an emotional response, unlearned

unconditioned response

emotional response to unconditioned stimulus

neutral stimulus

does not initially elicit response

conditioned stimulus

neutral stimulus becomes a sign of something else

conditioned response

feeling evoked by the conditioned stimulus

operant conditioning

behavior conditioned through reinforcement

assimilation

immediate recognition

accommodation

recognize some but not all of what you are exposed to

contrast

not recognizing what you are being exposed to

JND concept

how much stronger one stimulus has to be to notice the difference

marketing implications of JND

pricing, quantity, quality, add on purchase

mere exposure effect

tendency for liking to increase with exposure

product placement

putting products into tv shows and movies

simplicity complex

the more simple it is, the easier it is for us to understand

message congruency

extent to which a message is internally consistent

framing

meaning is influenced by information environment

priming

when active concepts frame a thought

environmental characteristics

amount of info available, return to past purchases

repetition is what form of learning

weakest

dual coding

using 2 different sensory traces

meaningful encoding

pre-existing knowledge is used to store new information

chunking

separating information into blocks or chunks

personal elaboration

imagine oursleveswithin message

personal interrogation

audience is prompted to self reflection

schema

network of mental pathways linking knowledge and memory

nodes

concepts within network of mental pathways

paths

show association between nodes

prototype

single abstract image in your mind that represents a category

exemplar

collection of specific real world memories and items encountered in a category