Test 2 Study Guide
Test 2 Study Guide MKTG 315
Popular in Consumer Behavior MKTG 315
Popular in Business
This 11 page Study Guide was uploaded by Morgan Turturici on Sunday April 17, 2016. The Study Guide belongs to MKTG 315 at Gonzaga University taught by Dr. Loroz in Spring 2016. Since its upload, it has received 10 views. For similar materials see Consumer Behavior MKTG 315 in Business at Gonzaga University.
Reviews for Test 2 Study Guide
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 04/17/16
MKTG 315 – Exam 2 Study Guide This review identifies concepts with which you should be familiar at this point at this point in the course. This list is not meant to be comprehensive; other concepts may be included on the exam. However, understanding the concepts included here is an essential first step toward an excellent exam score. The format of the exam will be multiple choice (around 40 questions) and essay (34 questions). Exam questions may come from the text, lectures, assignments, and classroom discussion. This study guide focuses on the lecture material. I suggest that you also see the textbook review cards for the key points in each chapter. Study hints: Quiz yourself or another student on the items listed here. Make sure that you know more than just the definition of each concept. How does it apply to consumer behavior and marketing? (Think of examples!) If you have not yet acquired the PowerPoint slides for this course, I highly recommend doing so. The slides provide an outline of what I consider to be most important in each unit. If you missed any lectures, or wish to review lecture material, listen to the “old lectures” posted to Blackboard. (Past students have said they found this to be very helpful.) The bulk of the exam material will come from the lecture material covered in class. However, some material from the text will be included. For an excellent exam score, you must read the text. Visit me in office hours if there are concepts that you do not understand. Motivation (Ch 5 ) What is motivation? An activated state within a person that leads to goal directed consumer responses to address one’s needs. ACB’s play in: Affect emotional involvement Cognition information processing Behavior goalrelated actions What is the difference between utilitarian motivation and hedonic motivation? This is basically what value you are trying to get out of the exchange/what is driving you to achieve. Utilitarian motivation: drive to accomplish Hedonic motivation: drive to experience What is Maslow’s hierarchy of needs? Be able to give or recognize an example of a need at each level. Lower levels must be achieved before you can move up We can move up and down the hierarchy quite a bit Whatever need state we are in will be our primary driver Marketers can appeal to any of these need states, they need to decide what need state will resonate best with the people you are trying to reach. Safety needs: “When you’re here, you’re family”, consistency really plays in as well. Esteem needs: recognition and statues, very external SelfActualization: fulfilling all you can be and achieving something for you, not others What is involvement? Describe the various types. What factors influence involvement with a purchase? Involvement: the perceived importance or personal relevance of an object or event There are 2 types of involvement: o 1) enduring involvement: ongoing, personal. Product Shopping Emotional o 2) Situational Involvement: temporary When you’re involved with something, you invest an amount of yourself into it. This could be in the form of time, money or emotions. *Do not need to know 51a through 51c What are three types of product perceptions? 1) Bundle of Attributes a. this is how a marketer thinks of a product b. irrelevant attributes: in an effort to differentiate a product, you may highlight irrelevant features like a scented razor handle. 2) Sources of Value Satisfaction a. This is the ultimate core need b. Ex. AWD is ultimately about keeping me safe c. Ex. Don’t care about the cubic feet of the trunk space but the fact that you can pack the whole family up and have fun. 3) Bundle of benefits/ risks a. This is how consumers think of a product b. This is what a product actually will do for them if they purchase it. c. Ex. You do not care that a care has AWD, but you do care that it will be able to safely handle on ice. there are 2 kinds of Benefits/ Risks 1) Functional: tangible outcomes of using a product (Utilitarian) a. Ex. This Snickers bar will satisfy my hunger 2) Psychosocial: internal, personal outcomes (Hedonic) a. Ex. This Snickers bar makes me feel ready to deal with life What is the difference between a functional and psychosocial benefit? Give an example of each. 1) Functional: tangible outcomes of using a product (Utilitarian) a. Ex. This Snickers bar will satisfy my hunger 2) Psychosocial: internal, personal outcomes (Hedonic) a. Ex. This Snickers bar makes me feel ready to deal with life What is a meansend chain? Through what method can a marketer discover a consumer’s meansend chain? Why is this type of analysis useful for marketers? Means end chain: connects consumers’ meanings about product attributes, benefits and values Means end chain analysis provides more complete understanding of consumers’ product knowledge Brand attributes functional benefits psychosocial benefits values Give an example of a means end chain for a favorite brand. Nike Free Runs lightweight, stylish, supportive comfortable shoes to work out or walk around in I feel comfortable and look stylish I look like my peers and that leads to a sense of security and a bit of conformity Explain each of the ten universal values. Self direction: freedom Stimulations: not being bored Hedonism: pleasurable experience Achievement: social recognition Power: influence over other people Security: safety Conformity: desire to fit in, be accepted Tradition: passing forward from one generation to the next Benevolence: looking out for the welfare of those around you (family and friends) Universalism: social justice, equality, protecting nature Explain the concept of the Golden Circle. How does it relate to Means End Chain Analysis? The Golden Circle says that in order for a company to really capture an audience by moving from the why how what instead of what how why “People don’t buy what you do, but why you do it.” Means End Chain connects the consumers’ meanings about product attributes, benefits and values, which is ultimately trying to find the value that a customer places in a product. A customer will find value in a product more quickly and confidently if the customer can get behind the companies “why” rather than their “what”. Conditioning and Learning Processes (Ch 3, p 6063) How does classical conditioning work? Theory of behavioral learning and offers explanations of how experience leads to changes in knowledge, attitudes and behavior. What are the four parts? 1) Unconditioned Stimulus: positive stimulus (music, scenery, people, animals) 2) Unconditioned Response: positive affect 3) Conditioned Stimulus: advertised brand 4) Conditioned response: positive affect towards the brand. What factors affect how well it works? US Strength: use something that has a strong unconditioned stimulus. Ex. Thrill response Number of pairings Temporal Contiguity: You want the US and CS to be close together time wise o Forward conditioning US then CS *** this is the most used o Backward conditioning CS then US ***this is more effective Familiarity: you have to choose strong, unconditioned stimuli and you have to worry about previous associations with it. o Ex. Seeing something too much will wear off and changing associations within the group won’t work either. What are some marketing examples of classical conditioning? Ex. Michael Phelps Visa commercial shown right after he broke the record—good feelings towards him will lead towards good feelings towards Visa. Ex. Puppies and babies make people happy so including them in your Pepsi commercial will condition people to feel those good feelings towards your product. You do not need to know the differences between US preexposure, blocking, and CS latent inhibition, but understand the general issue underlying familiarity effects How does operant (instrumental) conditioning work? Operant conditioning is focused on learning by doing and experiencing consequences. What is positive reinforcement? Reward the positive stimulus What is negative reinforcement? Removal of adverse stimulus What is punishment? Decreases the likelihood of behavior in similar circumstances in the future. It is an adverse stimulus. What are the three reinforcement schedules? What are some marketing examples of operant conditioning? 1) Continuous: it happens every time. This leads to quick results but also a quick burn out. 2) Partial: reinforce sometimes. You reward sometimes so people keep performing the behavior in hopes of getting the reward. This can come in 3 difthrent kinds: a. Fixed ratio: ex. You get rewarded every 10 time b. Variable ratio: lottery tickets c. Random: there is no pattern. 3) Shaping: you keep rewarding parts of the behavior to lead to the bigger picture a. Ex. Teaching a dog to play dead when you shoot him with the finger gun. What is vicarious learning? Vicarious learning (or modeling): process by which people change their behaviors because they observe the actions of others and the consequences that occur. What factors affect how well it works? Model Characteristics: the attractiveness, credibility, and similarity to observer Modeled behavior characteristics: detail of demonstration, difficulty of behavior Observer characteristics: cognitive and/or physical ability, motivation Characteristics of the modeled consequences: you need to be able to see the reward/ end product. How is it used in marketing? Operant Conditioning is used in marketing by way of consumer reviews. You are able to live vicariously through another persons experience with a product to see how that product turned out for them. Classical conditioning is used by playing popular music, sexual imagery, social cues and existing brands. Attitudes (Ch. 7, p. 121132) What are attitudes? An enduring overall evaluation of objects, products, services, issues or people. How does the multiattribute model of attitude formation work? (Know how to use this model if given a data example like the handout.) A o= S w i i bIi Attitude= Sum of W x absolute value of how important the attribute is to me the belief about brands on attribute *** we are looking for a low attitude score because the higher the number, the further we are from our ideal. The best score you could get it 0. Step 1) the buyer generates a list of attributes they care about for that product Step 2) Buyer determines attribute importance (W). They could rate each attribute on a scale or divide 100 points among them to determine which holds the most importance. Step 3) The consumer decided where their ideal attribute would rank (x) (ex. you don’t want a cheap running shoe but you also don’t want a super expensive on because you have to replace them soon). Then you compare where each brand falls in comparison to where you would like it to fall (b). Step 4) Buyer “computes” their attitude by multiplying the importance weight (w) by each attribute rating difference (xb). Then adding this up. The alternative brands with the total score closest to zero have the most favorable attitude ranking. What are the four attitude change strategies under this model? (Be able to give/identify an example of each.) 1) Add an attribute 2) Change importance of attribute a. Make the things youre good at more important and make the things you aren’t good at, less important. b. Ex. Yes our prices are high but we give you good quality. This changes the importance of the quality in relation to the price. 3) Change ideal point on attribute a. Bring the consumers ideals closer to where you are. b. Ex. Fashion trends change drastically every couple of years so we should change our product every couple of years. 4) Change belief on attribute (attribute rating) a. If people have a mistake perception of you, you want to educate them b. If people thing your shoes aren’t durable, change this perception so people have accurate beliefs. What is the primacy of affect model? This takes a global attitude view. o Which product do I think if the best choice for me? Which feels right for me? Believes the affect is the primary driver of attitude This opposes the multiattribute model by saying that attitudes are a gut feeling, not as cognitive as the multiattribute model. What factors influence how/when attitudes lead to behavior? (Make sure you can identify examples.) Attitudes SOMETIMES lead to behavior. Ex. I have a positive attitude towards BMWs but I cannot go and buy one because I can’t afford one. Factors affecting attitudebehavior relationship: o Situational constraints Time, money, other alternatives o Norms: unwritten social rules that guide our behavior Personal norms guiding principles we have for ourselves Societal norms outside sources telling us we need to do something. o Individual differences and personality Selfmonitoring: how in turn someone is to the people around them and how they interact with them. Love selfmonitors are more internally focused o Attitude properties also affect you attitude/ behavior relationship: Strength of attitude: things that are more extreme, either very good or very bad People who have strong attitudes about something are more likely to behave in a way that benefits that If I have a strong attitude as to whom to elect, I will put signs in my yard and talk to people about it. Accessibility: how easy it is to retrieve something from memory How do you feel about the death penalty? And you know right away. o If you still have to think about it, its not accessible. o Often, strong attitudes are usually accessible o Talk to your kids about things so they have an accessible attitude. Confidence: how confident/ sure you are in your attitude If you are unconfident, you could be easily changed Confidently held attitudes are more likely to lead to behavior. *Note that the ATO model (p 125128) is similar to the multiattribute model, but note that formula is slightly different. You only need to know the multiattribute formula, but do read the implications of this model as they apply to the multiattribute model as well (p. 127128) *You do not need to know the Behavioral Intentions Model and related concepts in this section (p 128129) Consumer Decision Making (Ch. 12, 13, 14, and 15, see below for sections you can skip) What are the five steps in the consumer decisionmaking process? Be able to name and describe each step. Give an example of what you would do during each step for a specific purchase decision. (For example, if you were buying a car, what would you do at each step?) 1) Problem Recognition I have a car that is about to break down and I need a new one. 2) Information Search – I ask my friends if they like their cars and look at Consumer Reports. 3) Alternative Evaluation I narrow down my choices but really only have one car in mind. I think about other options such as getting a bus pass or ubering everywhere. 4) Purchase Decision I have decided that buying a car is the best decision and I go and pick out the one. 5) Postpurchase Evaluation Do I like the car I chose? Is it living up to my expectations? How/when does problem recognition occur? It occurs when the consumer: o Perceives a difference between his/her actual ideal states and is motivated to resolve this difference. o MOTIVATION IS KEY BECAUSE YOU NEED TO NEED THE PRODUCT What’s the difference between firsthand and secondhand experience? Firsthand experience: you are actually getting the experience yourself Ex. Test driving a car, touring Gonzaga, ect. Secondhand experience: everything else What are the three general sources of secondhand experience? Be able to give examples of each. There are three types of secondhand experience: 1) personal secondhand experience: talking to a friend about their laptop—could be intentional or accidental. 2) Marketcontrolled second hand experience: ads, sales people, packaging 3) Public secondhand experience: independent consumer sites, Consumer Reports, bloggers, reviews. ***you get the most information from Firsthand Experience. What is a consideration set? What are the two subsets that may comprise a consideration set? Consideration set: the options (brands, products) considered in making a purchase decision o Evoked set: brands found in memory o Constructed set: brands found externally Describe and give an example of each level of decision making involvement. What is a heuristic? Simple rules/ cognitive shortcuts to aid in decision making ex. you move through Safeway in a certain pattern. What is the difference between a compensatory and a noncompensatory choice strategy? Compensatory decision making excellence on some dimension may compensate for being poor on another ex. you are willing to make tradeoffs Noncompensatory decision making excellence on one dimension may not compensate for being poor in another. Ex. you are not willing to compromise. Be able to use/identify the formal choice heuristics (decision rules) like we did in class. Lexicographic best brand on most important attribute o Ex. when buying napkins I’m going to buy the cheapest one because the most important attribute to me is price. Lexicographic semi order close values treated like ties o Ex. toilet paper is a ten cent price difference which is pretty much the same so you move on to the number of squares per role (which is the next most important attribute) Elimination by aspects compare alternatives on most important attribute, eliminate options that don’t meet minimum cutoff, proceed until one option remains. o Ex. you want to go to schools west of the Mississipi (eliminate those East), you want to go to a private school (eliminate the public ones), I want to be in Washington (eliminate other states). Majority of confirming dimensions pairwise comparisons, brand with greatest number of superior attributes is chosen. o You are comparing the options in pairs and pick the one that has the most wins. How are satisfaction judgments made, according to the expectancydisconfirmation model? Positive disconfirmation= if a product meets or exceeds expectations you will be satisfied. These are based on expectations you make before the purchase. What should a marketer do when a customer experiences dissatisfaction or dissonance with their product/service experience? If you have a dissatisfied customer, one of the most important things to do is to allow people to complain. You need to let people get stuff off their chest. The more you can facilitate the negative feedback coming to you rather than into the atmosphere. People will rarely share a good experience but will tell tons of people about a bad one. How can service recovery help relieve dissatisfaction after a service failure? When something goes wrong and you are able to do something to salvage it. Ex. I had to wait 45 minutes for a table when I had reservations but they bought us our first round of drinks. We are now delighted. What is the difference between satisfaction and delight? Satisfaction is meeting expectations whereas delighting someone is surpassing their expectations. What is cognitive dissonance in general? This is when attitudes and behaviors are in conflict. Like buyers remorse or feeling guilty about a lie. When might it occur (specific examples)? What factors affect the likelihood of it occurring? It is more likely to occur when: your decision is important the decision is difficult the alternative are dissimilar Less likely when: consequences of attitudediscrepent behavior are low incentives or force are present How can a person reduce dissonance? You can revoke your decision o Ex. return the product Increase the perceived attractiveness of the alternative chosen o Ex. go to a friends who will tell you that the boots are cute and you need them Decrease the perceived attractiveness of the alternative not chosen o Ex. beat down the option you didn’t pick. *You will not need to know 125b to 125e related to external search *You will not need to know Category Levels or perceptual/underlying attributes (p. 258260) *You will not need to know conjoint analysis (p. 263264) *You will not need to know the specific noncompensatory decision rules in 134b and 134c (p. 265266) *You will not need to know retail outlet selection (p. 267) *You will not need to know section 141 (273276) *You will not need to know the different types of expectations for the exam (p. 280) *You will not need to know Equity Theory or Attribution Theory (144b/c) (p. 282283) *You will not need to know 145a on improving satisfaction measures (285) *You will not need to know 146 on Disposal (286287) *You will not need to know 154 on Consumer Loyalty and Relationships (p. 299302) *You will not need to know 155 Value, Relationships, and Consumers (p. 303304) Persuasion (Ch 7 [p 130140], Ch 16 [p 324326 ) What is persuasion? An active attempt to change the beliefs, attitudes, or behaviors of others Know the 7 main social influence principles and examples of how marketers (and others) use these techniques! What is automaticity? The because heuristic? In many situations, people behave automatically or mindlessly using heuristics. This is the kind of a catchall principle. Acknowledgement that in many situations, we operate on autopilot. If you get something in the mail that looks like a bill. Pay it and mail is back without looking at it. If people give us a reason, we will likely respond positively. The Because Principle: people are more likely to comply with a request that includes the word “because”, no matter what the reason after it is. What is the commitment and consistency principle? What is labeling? How does Footinthe door work? Low balling? People are expected to be consistent and will change their beliefs, attitudes and behaviors in order to do so. labeling when you give someone a label and they feel that they should behave in a way that is consistent with that label. Foot in the door is a small request followed by a larger one. If people commit to a smaller request they will be more likely to agree to a bigger one after in order to be consistent with their beliefs. What is reciprocity? How do doorintheface, that’snotall, and evenapenny work? Reciprocity is the feeling on obligation you get that makes you return the favor. that’s not all you keep sweetening the deal until people are like wow you are doing so much for me I need to do something for you. Door in the face when you ask a big request that you know will probably get turned down and then follow up with a smaller request. The person being asked will feel bad that you are making such a steep concession that they will most likely agree to return the favor. Evenapenny: every penny will help. This is when you ask for such a small request that it’s almost like you are doing someone a favor by not asking for a lot and they feel obligated to return the favor and most likely give more than a penny. What is the scarcity principle? What is psychological reactance? Scarcity principle is when people want objects (either products or information) that they perceive to be in short supply. Psychological Reactance: we want what we can’t have. The idea that someone could infringe on our free will is really alarming and not welcomed therefore our want of something is increased when we perceive that we cannot have it. What is the social validation principle? What is the list technique? What is the “bystander nonintervention” problem? Social Validation is the perceived validity of an idea that increases when the number of people supporting the idea increases. list technique: when you can show someone a long list of other supporters they are more likely to comply. The downside to this is the bystander nonintervention problem which is when something bad is happening and no one steps in because everyone assumes someone else will handle it. What is the liking principle? What are some factors that influence liking? What is the halo effect? What is the mere exposure effect? Liking principle is the idea that people are more likely to comply with the requests of people they like. o Factors that influence liking are: Physical attractiveness halo effect (the idea that people that are more attractive also possess other positive attributes such as honesty and knowledge) Similarity they bring people together and smart salespeople will use all of this in the time they are talking with you. Compliments/ ingratiation ingratiation is brown nosing. Compliments go a long way Familiarity the mere exposure effect—exposure to a neutral stimulus increases liking for the stimulus Positive habituation can lead to boredom But this can also reverse a negative stimuli and make you like something you once didn’t. What is the authority principle? What are the “trappings of authority”? People are obedient to authority—titles, clothing, fancy cars, etc. Rentacop will be more obeyed if he is dressed as a cop. What is the Elaboration Likelihood Model? Describe the two routes to persuasion. What kinds of things influence a person’s motivation to process a message? Ability/opportunity? Elaboration Likelihood Model: theory of persuasion which identifies 2 routes through which a persuasive communication may be processed There are 2 routes that this persuasion can take: central and peripheral The route taken depends on the persons motivation and ability/ opportunity of the message recipients to process the message. The influence exerted by various communication elements will depend on the elaboration that occurs during processing o Elaboration is the linkage that happens when we think about information. What kind of appeals does Protection Motivation Theory help explain? What are the three factors that impact whether or how well this sort of appeal will work? PMT explains the effectiveness of Fear Appeals. o There are 2 factors that influence this: 1) the likelihood of danger 2) coping effectiveness ( the knowledge that something can be done about it) 3) Selfefficacy (the message receiver can implement the behavior. The most important part is that they feel like they can do it. What is indirect persuasion? What advantages does indirect persuasion have? Portions of persuasive message are omitted for the reveicer to fill in. This act of inferring increases a person’s involvement and trust in the message because you generated the answer on your own so you are less likely to think its incorrect because you came up with it. What is Balance Theory? When do balance and imbalance occur (be able to give examples)? How can imbalance be resolved? focuses on relationship triads balance occurs when arll relationships are positive or 2 positive and 1 negative imbalance occurs when all relationships are negative or 2 positive and 1 negative every balanced triangle should have a positive sign if you multiply the 3 signs together. * You will not need to know Social Judgment Theory (p. 135136) * In Ch. 16 just focus on Manipulative Sales Tactics, 166f
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'