3 Flashcards
peripheral route characteristics
- peripheral cues matter
- easy-to-process but unimportant info, weaker attitudes
- focus on source attractiveness, mood, popularity, number of features, perceived expertise
central route characteristics
- argument quality matters
- important diagnostic information
- stronger attitudes
- focus on strength product claims, trustworthiness, true expertise, two-sided messages
central route is used when motivation, ability, and opportunity is high, describe these 3
m - energy directed at objects or activities, high when situation is personally relevant, associated with risk or loss, relevant to unmet needs
a - person specific factors that affect ability to process info or to act (intelligence, money, age)
o - environmental factors that affect ability to process info or to act (distractions, time, availability)
decision making framework consists of 5 stages
- problem recognition - people perceive need
- info search - internal or external
- evaluation of alternatives - total set - awareness - consideration - final choice set
- purchase decision - which alternative? choose or postpone?
- post purchase behavior - important because repeat purchases & WOM
CLV - customer lifetime value
economic value a customer brings over lifetime
acquisition cost =
retention cost =
a - costs to get customer in the door, usually 5x higher than retention
r - costs to make sure customer comes back
4 forms of crowdsourcing
- contest
- collaborative community
- complement
- labor market
what is DMU
decision making unit - set of individuals (1 or >) who affect, influence, or take part in a decision to buy
what 3 developments in marketing are affecting consumer behavior?
- social media
- co-creation and consumer involvement
- conscience marketing
primary market research =
when you directly interact with potential customers to gain specific information
secondary research =
material you get from sources other than potential customers (indirect)
qualitative research =
quantitative research =
qual = exploratory research that helps you generally understand a topic quan = focuses on gathering specific data to prove or disprove the hypotheses created in qual. phase
social listening =
analyzing what consumers say on social media, allows you to gain a competitive advantage by getting better insight that you can act on quickly without incurring cost of traditional approaches
what wil be wrong in our verbal reports on cognitive processes?
- availability in memory of the events at the time of judgment
- removal in time, might not remember existence of stimuli
- smaller causes are often overlooked
what is the main point of the article; telling more than we can know
people are unable to accurately observe their cognitive processes.
