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MKT 305 > Chapter 9 > Flashcards

Chapter 9 Flashcards

1
Q

purchase momentum

A

our initial impulse purchase actually increases the likelihood that we will buy even more

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2
Q

consumer hyperchoice

A

forces us to make repeated decisions that may drain psychological energy while decreasing our abilities to make smart choices

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3
Q

constructive processing

A

evaluate the effort we’ll need to make a particular choice and then tailor the amount of cognitive “effort” to get the job done

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4
Q

mental budget

A

helps us to estimate what we will consume over time so we can regulate what we do in the present

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5
Q

self-regulation

A

person’s efforts to change or maintain his or her actions over time

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6
Q

implementation intentions

A

dictate how much weight we give to different kinds of info, a timetable to carry out a decision, or even how we will deal w disruptive influences

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7
Q

counteractive construal

A

exaggerate negative aspects of behaviors that will interfere w the ultimate goal

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8
Q

feedback loop

A

provide ppl w info about their actions and give them a chance to change those actions so that they push them to improve ex: speed displays

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9
Q

morning morality effect

A

ppl are more likely to cheat, lie, or even commit fraud in the afternoon than in the morning

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10
Q

executive control center

A

important decision making, including moral judgments, can be worn down or distracted even by simple tasks like memorizing numbers

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11
Q

rational perspective

A

people calmly and carefully integrate as much info as possible w what they already know about a product

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12
Q

steps in cognitive decision-making process

A
  1. problem recognition- experience a significant difference between out current state and some state we desire
  2. information search- process by which we survey the environment for appropriate data to make a reasonable decision
  3. evaluate alternatives
  4. product choice
  5. postpurchase evaluation- occurs when we experience the product or service we selected and decide whether it meets our expectations
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13
Q

evoked set

A

alternatives we know about

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14
Q

consideration set

A

alternatives we seriously consider

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15
Q

feature creep

A

products have more and more features

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16
Q

neuromarketing

A

functional magnetic resonance imaging to track blood flow as we perform mental tasks to take an up-close look at how our brains respond to marketing messages and product designs

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17
Q

cybermediary

A

website or app that helps to filter and organize online market info so that customers can identify and evaluate alternatives more effectively

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18
Q

intelligent agents

A

software programs that use collaborative filtering technologies to learn from past user behavior to recommend new purchases

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19
Q

search engines

A

ex: bing, yahoo, youtube

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20
Q

search engine optimization

A

procedures companies use to design the content of web sites and posts to maximize the likelihood that their content will show up when someone searches for a relevant term

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21
Q

long tail

A

companies can make money if they sell small amounts of items that only a few ppl want if they sell enough different items`

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22
Q

hybrid products

A

feature characteristics from 2 distinct domains ex: cronut

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23
Q

category exemplars

A

tend to exert a disproportionate influence on how ppl think of the category in general

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24
Q

evaluative criteria

A

dimensions we use to judge the merits of competing options

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25
determinate attributes
features we actually use to differentiate among our choices
26
compensatory rule
allows a product to make up for its shortcomings on one dimension by excelling on another
27
simple additive rule
leads the option that has the largest number of positive attributes
28
weighted additive rule
allows the consumer to take into account the relative importance of the attributes by weighting each one
29
noncompensatory rule
an option doesn't suit us on one dimension, we just reject it out of hand and move one
30
lexicographic rule
"select the brand that is the best on the most important attribute"
31
elimination-by-aspects rule
chooses a brand if it has all the cutoffs, rejects a brand that fails to meet any one cut-off
32
habitual decision making
choices we make w little or no conscious effort
33
inertia
involves less effort to throw a familiar package in the cart
34
brand loyalty
pattern of repeat purchasing that involves a conscious decision to continue buying the same brand
35
framing
how we pose the question to people or what exactly we ask them to do
36
loss aversion
people hate losing things more than they like getting things
37
prospect theory
analyze how the value of a decision depends on gains or losses
38
sunk-cost fallacy
if we've paid for something we're more reluctant to waste it
39
behavioral economics
focuses on the effects of psychological and social factors on the economic decisions we make
40
priming
cues in the environment that make us more likely to react in a certain way even though we're unaware of these influences
41
nudge
deliberate change by an organization that intends to modify behavior
42
default bias
more likely to comply w a requirement than to make the effort not to comply
43
bounded rationality
"good enough" perspective
44
heuristics
"mental rules-of-thumb"; shortcuts
45
country of origin
companies often go out of their way to link a brand w a specific country ex: Italian sports car
46
organizational buyers
ppl who purchase goods and services on behalf of companies for the companies' use in manufacturing, distribution, or resale
47
buyclass theory of purchasing
1. level of info he or she must gather prior to the decision 2. seriousness w which he or she must consider all possible alternatives 3. degree to which he or she is familiar w the purchase
48
straight rebuy
habitual decision; automatic choice when inventory level reaches a preestablished reorder point
49
Modified rebuy
occurs when an organization wants to repurchase a product but also wants to make some minor modifications
50
new task
extensive problem solving; often serious risk involved
51
B2B e-commerce
internet interactions between 2 or more businesses or organizations
52
prediction market
group of ppl w knowledge about an industry are, collectively, better predictors of the future than are nay of them as individuals
53
crowdsourcing
practice of soliciting ideas for new products and even advertising campaigns from a user community
54
wisdom of crowds
groups are smarter than the smartest people in them
55
consensual purchase decision
members agree on the desired purchase and disagree only in terms of how to make it happen
56
accommodation purchase decision
can't agree on a purchase that satisfies everyone's needs
57
interpersonal need
level of investment in the group
58
synoptic ideal
husband and wife to act a s joint decision makers
59
automatic decision
when one family member chooses a product
60
juggling lifestyle
frenzied, guild-ridden compromise between conflicting cultural ideals of motherhood and professioalism
61
kin-network system
maintain ties among family members, immediate and extended
62
dadvertising
commercials that depict a domestic version of fathers who tenderly and wisely look after the kids
63
home shopping party
capitalizes on group pressures to boost sales ex: pure romance
64
social shopping
allows online shopper to simulate the experience of shopping w others in a brink-and-mortar store ex: try on via an avatar

MKT 305 (11 decks)

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