Chapter 5 Flashcards
(13 cards)
The part of the brain that helps regulate stress response
Amygdala
Part of the brain that controls memory, impulses, and thoughts
Prefrontal Cortex
The shopping people do to lift their mood when they’re feeling discontent
Retail Therapy
Buying anything without planning to do so in advance
Impulse Buying
A feeling of guilt, regret, or unease after making a purchase
Buyers remorse
The basic belief that buying things is good for the economy
Consumerism
A promise form the manufacturer that a product will be replaces or repaired if its faulty
Manufacturer’s Warrenty
Extra coverage for the repairs or replacement of items purchased
Extended Warrenty
The financial opportunity that is lost when you chose to do something else with your money
Opportunity Cost
The unauthorized use of your debit or credit card number and pin or the forging of your signature
Card Fraud
The act of fraudulently gaining and using the personal information of someone else, usually for financial gain
Identity Theft
The process of communicating the value of a product or service to customers
Marketing
The publics ability to recall and recognize a brand by its logo, jingle, package, or name
Brand Recognition