MKT 325 Midterm Exam Study Guide
Self-Concept
Beliefs and attitudes we have about ourselves in certain situations.
Role identities (e.g., daughter, sister, friend, club member).
Self-evaluation and personal qualities contribute to self-esteem.
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.
Children and women generally have lower absolute thresholds than men.
Differential Threshold / Just Noticeable Difference
The minimal change in a stimulus that can be detected.
Marketers use this subtly to adjust product features without consumers noticing (e.g., reducing weight of a product without lowering price).
Exposure
Consumers encountering stimuli through their senses.
Subliminal perception: stimuli below the threshold of awareness (e.g., flashing popcorn images in theaters).
Adaptation
Consumers become desensitized to repeated stimuli.
Marketers refresh ads every 6-8 weeks to prevent adaptation.
Perception
The process of receiving, selecting, and interpreting sensory information.
Influences consumer decisions.
Classical Conditioning
Associating stimuli with a response (e.g., music in ads linking to brands).
Example: Pavlov’s dogs.
Operant Conditioning
Learning influenced by consequences.
Example: Reward programs that encourage repeat purchases.
Short-Term Memory
Temporary storage of information.
Marketers use chunking to improve retention (e.g., 513-NEW-HOME instead of full number).
Long-Term Memory
Semantic Memory: General knowledge and associations.
Episodic Memory: Personal experiences (e.g., prom, graduation).
Flashbulb Memory: Vivid memories associated with strong emotions.
Working Memory
Where information is temporarily stored and processed.
Important for learning and decision-making.
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
Extroversion → Introversion
Instability → Stability (e.g., moody vs. emotionally stable)
Agreeableness → Disagreeableness (e.g., polite, sympathetic vs. not)
Openness to Experience → Not Open
Conscientiousness → Lack of Conscientiousness
Five Brand Personalities
Sincerity (e.g., Campbell’s, Smucker’s)
Exciting (e.g., Red Bull)
Competence (e.g., Honda - reliability)
Sophistication
Ruggedness (e.g., Patagonia)
Consumer Ethnocentrism
Preference for domestic products (e.g., buying American-made cars).
Need for Cognition
Some consumers require detailed information to feel confident in decision-making.
Need for Uniqueness
Consumers wanting to differentiate themselves through product choices.
Low Self-Monitor
Consistent personality regardless of situation.
High Self-Monitor
Adapts personality based on situation and social context.
Priming
Subtle influences affecting consumer perception (e.g., making a home more appealing during a sale).
Nudging
Encouraging behavior through small suggestions (e.g., “Only 6 items left in stock!”).
Symbolic Value
The meaning or status associated with a product.
Loss Aversion
Consumers fearing losses more than valuing gains.
Diffusion
the process by which a new idea or product is accepted by the market; the speed new ideas spread from one consumer to the next
Norm
set of informal rules that society imposes to guide individual behavior
Custom
the norms of behavior that have been passed from generation to generation
Default
The pre-selected option consumers often stick with (e.g., default settings on apps).
Proximity
things we see close together are perceived to be more related than things that are seen as further apart
Observation
Watching consumer behavior to gather insights.
Chunking
Grouping information to make it easier to remember.
Ethnography
Researchers studying consumers by observing and engaging with them in real-world environments.