MKT 325 Exam 1

Self concept

how an individual thinks about and evaluates his or herself

Extended self

The space around us and how it affects us (homes and property, children, partners, pets, etc)

Absolute Threshold

lowest point at which we notice something

Differential threshold

amount of incremental change necessary for someone to notice a difference

Exposure

stimulus has the ability to be detected by the senses

Adaptation

the extent to which an individual’s sensitivity to a stimulus diminishes over time

Perception

understanding how we receive stimulus information via our senses

Classical Conditioning

creating associations- an individual learns a connection between two stimuli that are paired with one another

Operant conditioning

an individual’s behavior is changed through reinforcement that follows a desired response (rewards and punishments)

Short-term memory

an individual’s behavior is changed through reinforcement that follows a desired response (active, dynamic, limited capacity)

working memory

another word for short-term memory

long-term memory

permanent storage

Extinction

occurs when the desired behavior is no longer reinforced or when the reinforcement is no longer motivating to the individual

Episodic memory

series of events- contain details, emotions, and other information about own our past

Semantic memory

basic knowledge we have about a concept- specific details, facts, and knowledge about the world

Flashbulb memory

more detailed, engages 5 senses and emotions

Retention

occurs with the successful storage of the new piece of information; success can be measured by the ability to retrieve the information for future use

Five factor model of personality

set of five broad trait dimensions or domains: Extroversion/introversion, instability/stability, agreeableness/disagreeableness, open to new experiences/careful, conscientiousness/random event

Brand personality factors

Sincerity, exciting, competent, sophisticated, rugged

Consumer ethnocentrism

believing one’s own culture is the best

Need for cognition

A consumer is not comfortable buying until they’ve discovered as much information as they can

Need for uniqueness

Gravitating towards a product or brand that will make someone stand out

Low self-monitor

Not prone to adjusting to cues/more consistent

High self-monitor

picks up on cues and adjusts behavior accordingly

Priming

a phenomenon in which exposure to a stimulus, such as words, images, or sounds, alters an individual’s response, without conscious awareness

Nudging

coupons, discounts, limited time offers, loyalty reward systems

Symbolic value

a collection of deeper meanings consumers attach to products

Loss aversion

the tendency of individuals to dislike losses more than gains of an equivalent amount

Diffusion

new innovations are accepted and spread throughout a group of consumers.

Norm

a set of informal rules that a society imposes to guide individual behavior

Custom

the norms of behavior that have been passed from generation to generation

Default

a preselected option that a consumer makes without active thought or consideration

Proximity

items that are close together are perceived to be more similar than items that are farther apart

Observation

watch and record what customers do

Saturation

integration into daily life

Visualization

see patterns in the data that might be difficult to visualize by simply looking at the raw data

Motivational research

a focus on the consumer’s desires and feelings

Behavioral research

a focus on what consumers do

Behavioral economics

proposes that an individual’s behavior is complex and is influenced by rational, emotional, contextual, and sociocultural factors

Symbolic value

collection of deeper meanings consumers attach to products

Narrowcasting

specifically designing a product or promotion

Chunking

grouping together similar or meaningful pieces of information

Procedural memory

how to do things

Explicit memory

the intentional, conscious recollection of information