Flashcards in Ch 14, 15 Deck (12):
Define global, terminal and instrumental values.
Global values: core of an individual's value system.
Terminal values: highly desired end states (ex: wealth or love or popularity)
Instrumental values: Values needed to achieve terminal values (ex: respect, drive, kindness)
5 Values of western culture.
1-Home: your home is another part of the reflection of you, your wealth, who you are, etc.
2-Individualism: we are very selfish.
3-Health: society should be eating at whole foods vs mcDonalds says society.
4-Hedonic: always looking for pleasure through travel, video games, alcohol, etc.
5-Authenticity: we want what's real and true and unique. Never been seen before
3 of the Big 5 personality traits.
1-Agreeableness: kind/compassionate vs cold/unkind
2-Neuroicism: sensitive/nervous vs secure/confident
3-Extroversion: outgoing/energetic vs. solitary/keeps to oneself
Describe: dogmatism, need for uniqueness, need for cognition, susceptibility, and self-monitoring behavior.
Dogmatism: unwilling to change
Need for Uniqueness: always want to be the one to stand out whether that be with food choices, clothes, where you go, etc. Takes pride in being different!
Need for Cognition: How much people like to think about certain things
Susceptibility: how able you are to be persuade/what affects you because you're you
Self-Monitoring Behavior: People look to others for cues on how to behave
Why would a marker use the VALS-Value and Lifestyle Survey?
Better than using demographics because it determines the "why" vs the "what."
3 things that affect adoption, resistance and diffusion of an innovation?
3 categories of innovation.
Continuous: has a limited effect on consumers because it is not too much different than the last innovation.
ex: iPhone 4 to 4S
Dynamically continuous: has an effect on consumers, it is different enough that people want this "new" product
ex: computer to an iPad
Discontinuous: People have never seen it before (paradigm shift) ex: from having only computers to cell phones
How can marketers use 3 needs to promote innovations?
Functional: utilitarian benefits that are better than normal product
Symbolic: Has new social meaning
Hedonic: appeals to our pleasure seeking needs, aesthetics
What role does breadth play in describing an innovation?
Range of new and different uses for a products. Makes it more or less appealing for the price it is sold at.
Ex: all the functions an iPhone does vs having a different tool for each
Define adoption and resistance as they relate to innovation?
Adoption: purchase of an innovation by a household (ex: buying a vacuum and now you cannot go without one)
Resistance: a desire to not buy a product even in the face of pressure to do so (ex: will not buy a TV because then all the kids will do is watch it)
2 Perceived benefits that marketer can use to see innovation to consumers.
Relative advantage: benefits are superior to those found in products that already exist.
Use innovativeness: finding uses that differ from products intended use. MORE WAYS to use it.