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Exam 2
Marketing 360
120
Marketing
Undergraduate 4
02/26/2012

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Term
Problem recognition
Definition
consumer sees significant difference between his current state of affairs and some desired state of affairs
Term
Information search
Definition
Process when consumer searches fro appropriate information to make reasonable decisions
Term
Evaluate alternatives
Definition
evaluated based on some evaluation criteria.
Term
Evaluation criteria
Definition
attributes to evaluate on
Term
Evoked set
Definition
consideration set; set of brands that we'll consider buying, the go to brands for the consumer
Term
Product choice
Definition
choose and make the purchase
Term
post purchase/product evaluation
Definition
expectation vs performance: satisfied or dissatisfied
Term
Post purchase dissonance
Definition
buyers remorse, research negatives of competition, rationalize positives, admit fault.
Term
consumer involvement
Definition
the less involved we are the less effort we spend in selection
Term
Consideration
Definition
the higher involved we are the more effort we put into the decision process
Term
Inverted U-shape relationship
Definition
at some point you will know what you want and what product to give
Term
extended problem solving
Definition
high involvement (car) usually for expensive items
Term
Limited problem solving
Definition
medium involvement
Term
habitual (routine) decision making
Definition
low involvement, habit brand purchase
Term
Central Route to persuasion
Definition
high involvement (facts and info)-considered logically
Term
Peripheral route to persuasion
Definition
low involvement (music, pictures) majority of ads today. Considers past experience and superficial qualities. Moving toward because we want instant gratification.
Term
central advertising is used more than
Definition
specialized areas
Term
Involvement theory (split brain theory)
Definition
Right and left sides of brain specialize in types of info they process.
Term
left side of the brain
Definition
cognitive activities, rational and realistic
Term
right side
Definition
non-verbal pictorial, emotional, impulsive and intuitive.
Term
low involvement media
Definition
tv is right brain activated/ passive activity, passive learning though repeated exposure.
Term
high involvement media
Definition
newspaper, magazines, and internet. left brain
Term
Integrated
Definition
using both the right and left side of the brain meaning you use high and low involvement media.
Term
processors
Definition
show greater recall of information, use advertising that appeals to both sides of the brain.
Term
Consumer decision influences (internal)
Definition
perception, personality, learning, lifestyle, motivation, attitude (PPLLMA)
Term
Perceptions
Definition
how we make sense of the world,
Term
perceptual selection
Definition
selective attention, cannot pay attention to everything. KK: cocktail party.
Term
interpretation
Definition
assign meaning to stimuli, sometimes based on associations.
Term
motivation
Definition
a drive to fill/satisfy a need
Term
Maslow's hierarchy of needs (internal motivation)
Definition
basic levels must be met to move to the next level
Term
learning
Definition
the process by which experience(s) leads to changes in knowledge, attitudes, and or behavior. 2 types of learning, cognitive or classic
Term
cognitive approaches
Definition
processes
Term
behaviorist approaches
Definition
inputs and outputs from stimuli, observing responses from stimuli.
Term
classical conditioning
Definition
unconditioned stimulus elicits an automatic response. (Pavlov's dogs)
Term
subliminal does not work
Definition
True
Term
Stimulus generalization
Definition
generalize stimulus from one stimulus to a new and similar stimuli
Term
Me too branding
Definition
looks similar to another brand
Term
operant conditioning
Definition
instrumental learning, consequences of the behavior affect the frequency of performing the behavior.
Term
Today there is excessive positive reinforcement and a lack of
Definition
negative consequences
Term
Total (continuous) reinforcement
Definition
every time
Term
fixed ration schedule
Definition
for every nth time LONG TERM, free desert at Rancho
Term
variable ration reinforcement
Definition
random rewards SHORT TERM, Alaska air miles
Term
cognitive learning
Definition
result of thinking and problem solving, people develop conscious hypothesis and act upon them, central route of persuasion on the ELM
Term
attitudes
Definition
lasting evaluation of person, object or issue:
1. affect (feelings) use peripheral route to persuasion
2 cognition (beliefs) use central route to persuasion
3. behavior
Term
Personality
Definition
set of unique psychological characteristics, consistently influences the way a person response to situations in environment. Moderator
Term
Lifestyles
Definition
pattern of living that determines how people choose to spend time.
Term
VALS (values, attitudes, lifestyle)
Definition
tool to try and measure psychographics
Term
AIOs
Definition
measure consumer activities, interests and opinions.
Term
Consumer Decision Influences (External)
Definition
physical environment, time, culture, reference groups, opinion leader.
Term
Psychographics
Definition
the use of psychological, sociological and anthropological factors to construct market segment
Term
Formal learning
Definition
from adult/sibling
Term
informal learning
Definition
form imitating behavior. Most advertisements promote by showing a model of behavior to imitate
Term
technical learning
Definition
from teachers in a formal educational environment
Term
Enculturation
Definition
learning from your own culture, already ENgrained
Term
Acculturation
Definition
learning from another culture ACquiring culture.
Term
reciprocity
Definition
"Foot in the face" do something for me and I'll do something for you
Term
consistency
Definition
"foot in the door" ask for something very small, you almost certain say yes. On second they will for sure say yes
Term
scarcity
Definition
you want to posses it because it is hard to acquire
Term
authority
Definition
we usually listen to authority figures.
Term
Information processing
Definition
process of receiving information and generating an output or action. Depends on information complexity and and cognitive ability, varies, works like a computer.
Term
stroop effect (Green, blue, red, orange)
Definition
idea that here is a bottleneck is information we receive, only limited information gets into our short term memory through the bottleneck.
Term
sensory memory
Definition
temp storage for our senses
Term
short term memory
Definition
limited period of time
Term
long term memory
Definition
lengthy periods , the longer it takes to memorize, the more likely it goes into the LTM
Term
Associated network/spreading activation
Definition
if you prime/activate something it will help you recall info.
Term
The self concept
Definition
we see ourselves a certain way and pick products that exemplify this depiction.
Term
looking glass self
Definition
we look at other people to see if we are doing the right thing
Term
symbolic interaction
Definition
relationships with others form our self , our behavior reflects the social norm
Term
multiple selves
Definition
person act differently around different people
Term
self concept and brands
Definition
consumers have a picture of themselves ands seek products or brands that they feel exemplify this image.
Term
extended self
Definition
we can even view the produces in our lives as a part of our extended self
Term
a brands success is measured by its..
Definition
brand equity
Term
AMA (shortcut)
Definition
brand is a "name, term, sign, symbol or design or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitions.
Term
self enhancement
Definition
possessions enhance our self concepts, objects become a part of ourselves
Term
Keller's Model
Definition
explains how what consumers know about a brand leads to success.
Term
Characteristics of B2B
Definition
multiple buyers within one organization, geographic concentration, small # of customers, large size of purchases
Term
buying center
Definition
group of people who buy stuff/make purchasing decisions
Term
Initiator
Definition
identifies issues
Term
user
Definition
who actually needs the product
Term
gate keeper
Definition
control the flow of info
Term
influencer
Definition
affects the buying decision
Term
buyer
Definition
execute the purchase
Term
Inelastic demand
Definition
demand for produce does not change because of increase/decreases in price, at some point if price gets too high product can become elastic
Term
decider
Definition
who makes the final decision
Term
fluctuating demand
Definition
changing consumer demand can create large increases/decreases in business demand. Causes-life expectancy of product or company's inventory policy
Term
Producers
Definition
purchase produce for the production of other goods and services that they in turn sell to make a profit.
Term
resellers
Definition
buy finished goods for the purpose of reselling, renting or leasing to consumers and other businesses.
Term
NAICS (Northern american industry classification system)
Definition
every business w/license has a #, identifies different types of businesses. Helps produces narrow focus for reselling options.
Term
straight rebuy
Definition
a buying situation in which business buyers make routine purchases that require minimal decision making
Term
Modified rebuy
Definition
a buying situation classification used by B2B buyers to categorize perviously make purchase that involves some change and that requires limited decision making.
Term
new task buy
Definition
a new b2b purchase that is complex or risky and that requires extensive decision making
Term
crowdsourcing
Definition
a process in which firms outsourcing marketing activities (such as selecting an ad) to community of users
Term
outsourcing
Definition
the business buying process of obtaining outside vendors to provide goods and services that otherwise might be supplied in-house.
Term
what is a product?
Definition
anything tangible/intangible that through exchange process, satisfies consumer/business customer needs (can be physical goods, services, ideas, people or places.
Term
products are viewed by marketers as a bundle of attributes including..
Definition
packaging, brand name, benefits and features products, services and experiences.
Term
convenience
Definition
non-durable, frequently purchased, little effort. Low prices
Term
shopping
Definition
time/effort in selection. Moderately brand loyal Comparison shopping, limited problem solving
Term
specialty
Definition
significant purchase efforts, brand loyalty, unique characteristics
Term
unsought
Definition
little awareness/interest until need arises. Requires much advertising and personal selling
Term
durable
Definition
long term benefits(cars appliances) Extended problem solving, high involvement, central route in persuasion
Term
non-durable
Definition
short term benefits (newspaper, food) Habitual problem solving, low involvement, peripheral route to persuasion.
Term
Diffusion of innovation
Definition
process which use of produce spreads through population
Term
Discontinuous
Definition
total new product requires much learning, airplane, car, pc
Term
Dynamically
Definition
significant change to existing product, require much learning (tapes, cd, dvd player)
Term
Continuous
Definition
modification to existing product (knockoffs, computer monitor)
Term
Product adoption
Definition
process which consumer or business begins to buy and use a good, service or idea.
Term
Innovators
Definition
people in line for iphone release
Term
early adopters
Definition
purchase in first couple of weeks
Term
early majority
Definition
waits for kings to be worked out
Term
late majority
Definition
people who eventually get smartphone
Term
laggards
Definition
forced to adapt ie. no cell phone
Term
Puffery
Definition
making a statement in marketing that normal person would know to be false in order to solidify a point
Term
multi product (blanket family product)
Definition
we use a brand name to associate a variety of products
Term
dealer/private label/store brand
Definition
kenmore or craftsman from Sears, Safeway
Term
Generic (plain label)
Definition
black and white, seldom used
Term
licensed brand
Definition
Donald Duck OJ
Term
Co-branding
Definition
Ford w/eddie Bauer
Term
B2B
Definition
marking goods and services that businesses and other organizational customers need in order to produce other goods, for resale or to support their organizations.
Term
crucial confrontations
Definition
anytime someones has let you down or has not met your expectations
Term
Hazardous half min
Definition
1st 30 seconds of a crucial confrontation
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