Consumer Information Processing Flow

These flashcards cover essential vocabulary and concepts related to consumer information processing, motivation, memory, and decision-making.

Motivation

Inner state of activation that provides energy needed to achieve a goal.

Ability

Resources available to process information or act, such as financial, cognitive, emotional, and physical resources.

Opportunity

Situational factors that influence the ease or difficulty of processing information.

Motivated reasoning

The process of interpreting information in a way that leads to the conclusion the individual desires.

Confirmation bias

The tendency to seek information that supports one's existing beliefs or conclusions.

Felt involvement

The experience of being motivated about products or decisions, which can be enduring, situational, cognitive, or affective.

Absolute threshold

The minimal intensity needed to detect a stimulus.

Differential threshold

The minimum intensity difference needed to perceive a difference, also known as Just Noticeable Difference (JND).

Cognitive response

Thoughts generated in response to communication, which may include counterarguments, support arguments, or source derogation.

Peripheral route to persuasion

Attitudes influenced by aspects other than central arguments.

Elaboration Likelihood Model (ELM)

A theory that outlines how attitudes are formed and changed through two routes: high effort processing and low effort processing.

Mere exposure effect

Preference for familiar objects due to repeated exposure.

Problem recognition

The perceived difference between an individual's ideal state and actual state, which motivates consumer action.

Consideration set

The subset of top-of-mind brands evaluated when making a purchase decision.

Attraction effect

The phenomenon where the presence of a less attractive option increases the perceived attractiveness of a more desirable option.

Cognitive decision-making model

A decision-making process that combines information about attributes to decide between options.

Affective forecasting

The prediction of future feelings that can influence risk-taking behavior in decision-making.

Regulatory focus

The distinction between promotion-focused goals (seeking gains) and prevention-focused goals (avoiding losses).