Untitled Flashcards Set

Obtaining products & services: Before the purchase

Observing products & services: - How to use

Disposing products & services: After purchase

Affect response: The emotional response and feelings consumers have.

Cognition response: Mental processes that consumers use with processing information and making decisions.

Behavior response: How does the consumer act?

False consensus bias: We think a lot of people agree with us but in reality that is not true.

Affective forecasting: Predicting how consumers will react.

Intuition trap: Rational thoughts are most of the time different then how it actually goes.

Projection bias: Projecting your own beliefs/attitude onto others.

Confirmation bias: The urge to search for evidence that supports our existing beliefs and ignoring evidence that doesn’t agree.

Cognitive component: We focus our attention more on things we want to see.

Motivational component: We are resistant to changing our prior beliefs.

Joint evaluation: You judge an object, product or option with direct comparison with other options.

Separate evaluation: You judge an object, product or option on it’s own, without direct comparison with other options.

Anchoring: Reference point - a piece of information we get when we make a decision or estimation (schatting).

Compromise effect: When consumers have to choose between a couple of options, the chance that the middle option is being chosen is higher when this is seen as a compromis between more extreme options.

Reference dependence: We compare our experiences/ choices & results not in rational absolute sentence, but we compare it to a imagined standard or reference point we made up in our own mind.

Context dependence: Our choices change through the environment. The other options that are there, change what we choose.

Description dependence: How something is told, the words that are being used, changes what we choose.

Hyperchoice: Choice overload.

Full Internal Knowledge: Consumers know exactly what they want.

Full External Knowledge: Consumers know everything about the options that there are.

Maximize Utility: Consumers always choose the best option for themselves.

Extrinsic motivation: For a reward or avoid punishment.

Instric motivation: For own sake/ personal rewards.

Fluency: The subjective experience of ease or difficulty when forming a preference or making a choice.

Maslow’s theory: Needs are ordered in a hierarchy, where you can’t fullfill higher ones before fixing lower needs (bv water/ eten etc).

Indifference zone: Actual and desired state are the same - no problem.

Universal set: All the options that are there > We are not aware of all of the options ofcourse.

Awareness set: The options that consumers are aware of > You can’t recall all of those options at the moment you need to make a choice tho

Evoked set: The options you can recall at the moment of decision making.

Considiration set: The options you are actually going to consider and going to pick from > Brands want to come into this set.

Sensory threshold: A threshold (drempel) that a stimulus (prikkel) needs to get over in order for us to feel, hear, see, taste, smell.

Abosolute threshold: How much there atleast is necessary in order to feel/experience something > Bv. How soft does a whisper need to be for you to still hear it.

Just notable difference: The slightest difference that you can notice between two things

Weber law: How well you notice the difference depends on how strong the startingpoint is

Centration hypothesis: People focus on one thing (bv length of coca cola glass)

Elongation bias: People focus on the length of something.

Psychophysical law of sensation: There is a scientific rule that says we think bigger portions are less big in calories than they actually are.

Classic choice theory: You choose what you like & something with the highest value, but if something new comes along this can change your perspective of the product.

Attraction effect aka decoy effect: Adding a less attractive option to put more attention to the ‘’better’’ product.

Compromise effect: We are adding something with the intention to be chosen (bv burger paddies).

A context effect: The context changed your choice.

Heuristics: Term we are using to simplify our decisions.

Representativeness heuristic: What would be the most logic/stereotypical option to choose?

Availability heuristic: Choosing something that comes easier to our mind then something that’s harder to come to our mind.

Anchoring and adjustment heuristic: Something that is totally unrelated influences your choice.

Expected utility theory: Way to think about choices that bring risks.

Dominance principle: Choose the option that brings you the most.

Transivity principle: Your preferences should be logical

Invariance principle: How the choices are communicated, should not influence your choice.

Framing effect: How you say something, influences your choice.

Prospect theory: Is more realistic about how people make choices with risks.

Reference dependence: We compair everything to a reference point.

Loss aversion: The pain associated with losses are more intense then the happiness that comes with winning.

Diminishing Sensitivity: The difference between 0 and 10 euro feels bigger than the difference between 100 and 110 euro.

Endowment effect: People will pay more to remain something they own than that they would pay for something of somebody else.

Sunk cost fallacy: Choosing something to justify your previous choices (bv expensive ski trip option even though you liked the other one more).

Preverence reverals: If consumers think differently about a choice problem or the other option looks better at a different time, the choice of the consumer might switch.

Brand positivity effect: If you do separate evaluation on brands, you only see the positive sides because you’re not comparing.

Affect (Feelings): This is the emotional part of your attitude. It's how something makes you feel. This is your gut reaction.

Beliefs (Cognitions): This is the thinking part of your attitude. It's what you believe to be true about something. These are your thoughts, ideas, and knowledge. 

Conation (Behavior): This is the action part of your attitude. It's how you tend to act because of your feelings and beliefs.

Semantic differential scale/ bi-polar scale: If the two ends of the scale are the opposite (good/bad).

Likert scale: If you have to do a range of agree/disagree.

Descriptive beliefs: Based on direct experiences (experienced yourself).

Informative beliefs: Based on direct information (heard from others).

Inferential beliefs: Very common. What you believe by drawing your own conclusions, going beyond the direct information.

The Multi-Attribute Model: Says your overall attitude towards something is a combination of your beliefs about its different features, and how good/bad or important you think each feature is.

Theory of reasoned action-Normative Beliefs: What you believe other people think you should do. (e.g., "My friends think I should eat healthy food.")

Theory of reasoned action-Motivation to Comply: How much you care about what those people think. (e.g., "I really want my friends to approve of me.")

Theory of reasoned action-Subjective Norms:Your overall feeling of social pressure to do (or not do) something.

Affect: A composite of valence and arousal, which underlies all emotional experience. - Your feelings and emotions towards something.

Integral affect: How something makes you feel by itself, caused by the product itself.

Incidental affect: Feelings that happen to be present but are not caused by the thing itself.

Evaluative conditioning: The process of feelings you have from one experience (the incidental affect, your existing mood) get transferred or associated with a completely unrelated object.

Fluency: How easily your brain can process something

Affect-as-Information: We unconsciously use that positive feeling as "information," making us think the thing we're processing is better or truer than it might actually be. 

Misattribution: We incorrectly link the good feeling (from easy processing) to the object, instead of recognizing it's just about how easy it was to think about.

dual process models - System 1 (Affect/Emotion): This is fast, automatic, intuitive, and driven by feelings. Think of it as your "gut reaction."

dual process models - System 2 (Cognition/Reason): This is slow, deliberate, effortful, and logical. Think of it as carefully thinking through a problem.

The Elaboration Likelihood Model (ELM) - two main ways we can be persuaded (Central/Peripheral)

Central Route to persuasion (act of changing a attitude): This is the "thinking" route.

Peripheral Route to persuasion (act of changing a attitude): This is the "shortcut" route. 

Metacognitive Difficulty: If something is easy to understand (fluent). You feel good, and that good feeling can make you like it more.

Classical Conditioning: Learning by association

unconditioned stimulus: Something that naturally makes you react

conditioned stimulus: Something that doesn't normally cause a reaction

unconditioned response: The natural response.

conditioned response: The learned response.

Evaluative Conditioning: you take something you don't have strong feelings about (neutral) and pair it with something you do have strong feelings about (positive or negative).

Operant Conditioning/instrumental learning: Learning from the results of your actions. 

Sensory Input: Information comes in from your senses (seeing, hearing, etc.).

Sensory Memory: This holds the information for a very short time (a few seconds). 

Working/Short-Term Memory: If you pay attention to the sensory information, this holds information for a little longer (10-15 seconds), like remembering a phone number you just heard. You can keep it here longer by rehearsing it (repeating it).

Long-Term Memory: If you encode information well (by thinking about it, connecting it to other things, etc.), it goes into long-term memory. This can last indefinitely (forever, potentially).

Encoding: This is the process where info in the short term memory get stored in the long term memory.

Retrieval: This is when you remember something – bringing it back from long-term memory into your conscious awareness (working memory).

Serial position effect: How well we remember things based on their order in a list - creates a U-shaped curve.

Primacy Effect: We tend to remember the first few items in a list better. This is because we have more time to repeat them and store them in long-term memory.

Recency Effect: We also tend to remember the last few items in a list better. This is because they're still fresh in our short-term memory.

Sins of Omission (Forgetting): These are about not being able to remember something

Sins of Commission (Errors): These are about remembering things incorrectly or remembering things that didn't happen