Ch 9 Flashcards
Representativeness heuristic
• Making a judgment by simply comparing a stimulus with the category prototype or exemplar
* Eg: For example, if you want to estimate the likelihood that a new mouthwash is of high quality, you might compare it with your prototype for mouthwashes, such as Listerine
Availability heuristic
• Basing judgments on events that are easier to recall.
Base-rate information bias
• How often an event really occurs on average.
*Eg: One study demonstrated this effect in the context of estimating the probability that refrigerators would break down
Law of small numbers
• The expectation that information obtained from a small number of people represents the larger population.
*Eg: If friends say that a new CD by a particular group is really good or that the food at a particular restaurant is terrible, we believe that information, even if most people do not feel that way. In fact, reliance on small numbers is another reason that word-of-mouth communication can be so powerful
Satisficing vs. optimizing
• Satisfice: Finding a brand that satisfies a need even though the brand may not be the best brand….Optimizing: Best brand
* Eg: Satisfice vs. Optimizing First, the goal is not necessarily to find the best possible brand, called optimizing, as is the case with high-elaboration decisions. To optimize here would require more effort than consumers are typically willing to expend. Instead, consumers are more willing to satisfice, to find a brand that is good enough to simply satisfy their needs. The effort required to find the best brand may simply not be worth it
Operant conditioning
• The view that behavior is a function of reinforcements and punishments received in the past.
Eg: For example, while you were growing up, your parents may have given you a reward for making good grades or an allowance for mowing the lawn. You learned that if you are good you will be given a reward. Therefore more likely you will continue doing it.
Condition. Getting used too.
Reinforcement
• Reinforcement usually comes from a feeling of satisfaction that occurs when we as consumers perceive that our needs have been adequately met.
Eg: For example, if you buy Liquid Tide and are impressed by its ability to clean clothes, your purchase will be reinforced, and you will be more likely to buy this brand again
Punishment
• consumers can have a bad experience with a product or service, form a negative evaluation of it, and never purchase it again
Eg: Punishment occurs when a brand does not meet our needs and we are dissatisfied, so we learn not to buy that brand again.
Performance-related tactics
• Tactics based on benefits, features, or evaluations of the brand.
Eg: In N Out, you make a decision that makes you want to go to there instead of McDonalds because it’s yummier, cheaper, and faster.
Habit
• Doing the same thing time after time
Eg: Repeat it without really thinking: following the same routine every morning
Brand loyalty
• Buying the same brand repeatedly because of a strong preference.
Price-related tactics
• Simplifying decision heuristics that are based on price.(Usually low involvement)
Affect related tactics
• Tactics based on feelings.
Affect referral
• A simple type of affective tactic whereby we simply remember our feelings for the product or service.
Eg: We hear the name Starbucks, we might associate it with general feelings of happiness, and we might decide to get coffee there based on these feelings rather than on a detailed evaluation of Starbuck
Brand familiarity
• Easy recognition of a well-known brand.
Eg: Blindfold and drinking beer. Taste same even though they are familiar with the other brand. When they identify the beer they notice the difference in taste.
