MKT 313 Exam 1 Study Guide
MKT 313 Exam 1 Study Guide MGT 301: Human Resources
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This 8 page Study Guide was uploaded by Lauren Keiffer on Monday February 16, 2015. The Study Guide belongs to MGT 301: Human Resources at University of Alabama - Tuscaloosa taught by Michael Howe in Spring2015. Since its upload, it has received 294 views.
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Date Created: 02/16/15
MKT 313 Consumer Behavior Exam 1 Study Guide Chapters 1 812 Chapter 1 Consumer Behavior and Marketing Strategy Consumer Behavior The study of individuals groups or organizations and the processes they use to select secure use and dispose of products services experiences or ideas to satisfy needs and the impacts that these processes have on the consumer and society Consumer behavior is complex and multidimensional It involves numerous steps and is in uenced by several factors Applications of Consumer Behavior 0 Marketing Strategy Plan for achieving rm goals Regulatory Policy Social Marketing The use of marketing tactics to create a positive effect on individuals or society Informed Individuals The more consumers understand about marketing tactics the more effective consumers they will be Marketing Strategy and Consumer Behavior 0 Market Analysis Company Competitors Conditions Consumers Market Segmentation quotA portion of a larger market whose needs differ from the larger market Identify product related need sets Group consumers with similar need sets Describe each group Select attractive segments to target Marketing Strategy quotHow will we provide superior customer value to our target marketquot Value Product Bene ts Product Costs Requires a consistent marketing mix 0 Product 0 Price 0 Distribution 0 Promotion 0 Service 0 Consumer Decision Process quotThe consumer decision process intervenes between the marketing strategy as implemented by the marketing mix and the outcomes Problem recognition Information search Alternative evaluation Purchase Use Evaluation 0 Outcomes Individual outcomes 0 Need satisfaction actual v perceived need ful llment lnjurious consumption Firm outcomes 0 Product position 0 Sales and pro t 0 Customer satisfaction Society outcomes 0 Economic 0 Physical environment 0 Social welfare Conceptual Model of Consumer Behavior 0 External in uences Culture Demographics Religion Families and households Groups 0 Internal in uences Perception Learning Memory Motives Personality Emotions Attitudes o Selfconcept and lifestyle SelfconceptThe totality of an individuals thoughts and feelings about oneself LifestyleHow one lives including the products one buys how one uses them what one thinks about them and how one feels about them 0 Decision Process Consumer decisionsresult from perceived problems and opportunities Consumer problemsarise in speci c situations and the nature of the situation in uences the resulting consumer behavior Chapter 8 Perception Exposure 0 Selective Exposure Failure to gain exposure results in lost communication and sales opportunities 0 Voluntary Exposure Sometimes consumers actively seek out commercials and other marketing stimuli for various reasons including purchase goals entertainment and information Attention o Stimulus Factors The physical characteristics of the stimulus itself Color and movement Position Contrast and expectations Adaptation eve theorv Suggests that if a stimulus does not change onver time we habituate to it and begin to notice it less and less 0 Individual Factors Characteristics which distinguish one individual from another Motivation The consumers involvement with the product can be temporary or endu ng Ability The consumer s capacity to attend to and process the information o Situational Factors Include stimuli in the environment other than the focal stimulus and temporary characteristics of the individual that are induced by the environment Clutter Program involvement The consumer s interest in the program surrounding the ads Nonfocused Attention o Hemispheric lateralization Left side of brain controls activities related to rational thought Right side of brain deals with images and impressions o Subliminal stimuli A message is presented so fast softly or masked by other messages the consumer is not aware of seeing or hearing it A subliminal ad hides key persuasive information within the ad by making it so weak that it is difficult or impossible for someone to physically detect Interpretation More of a relative process rather than absolute perceptual relativity need a reference point Tends to be subjective and open to a host of psychological biases It can be a cognitive thinking process or an affective emotional process 0 Cognitive Interpretation A process whereby stimuli are placed into existed categories of meaning Affective interpretation The emotional or feeling response triggered by a stimulus Individual characteristics Traits Drive our needs and desires and in uence how a stimulus is interpreted Can be physiological and psychological Learning and knowledge Expectations expectation bias Situational characteristics The situation provides a context within which the focal stimulus is interpreted Contextual cues present in the situation play a role in consumer interpretation independent of the actual stimulus ex Coke does not advertise during the evening news Stimulus characteristics Change Sensory discrimination Physiological ability to detect a change from one brand to the next JND just noticeable difference Minimum amount that a brand can vary from another for a change to be detected Traits such as size shape and color Organization Proximity Putting two stimuli close together imply relation Closure Incomplete stimulus Figureground Make stimulus stand out and be the focus Chapter 9 Learning Memory and Product Positioning Memory 0 Shortterm memory quotworking memoryquot That portion of total memory that is currently activated or in use Consumers must constantly refresh information through maintenance rehearsal or it will be lost Short term memory has a limited capacity Chunking putting bits of related information together into chunks to aid with memory Elaborative activities serve to rede ne or add new elements to memory and ca n involve both 0 concepts and imagery Longterm memory That portion of total memory devoted to permanent information storage Semantic memory The basic knowledge and feelings and individual has about a concept Episodic memory The memory of a sequence of events in which a person participated Schemas quotschematic memoryquot Pattern of associations around a particular concept Scripts Memory of how an action sequence should occur Retrieval How accessible easy to recall is the information Learning 0 High Involvement The consumer is motivated to process or learn the material 0 Low Involvement The consumer has little or no motivation to process or learn the material Approaches to Learning Conditioning Presenting two things together consistently in order to condition people to think about them together 0 Classical conditioning The process of using an established relationship between on stimulus and response to bring about the learning of the same response to a different stimulus o Operant conditioning Involves rewarding desirable behaviors such as brand purchases with a positive outcome that serves to reinforce the behavior requires consumer to engage Cognitive learning 0 Iconic rote learning Learning an association between concepts without conditioning o Vicarious learning modeling Learning what outcomes to expect from behaviors by watching others 0 Analytical reasoning Learning new associations and concepts by recombining existing information and new information Consumers Forget o Conditioned learning Extinction Desired response decays or dies out if not reinforced 0 Cognitive learning Retrieval failure Factors in forgetting 0 Strength of learning Importance Message involvement Mood Reinforcement Repe on Dual coding 0 Memory interference Occurs when consumers have dif culty retrieving a speci c piece of information because other related information in memory gets in the way Common form of interference is competitive advertising 0 Response environment Brand Image Refers to the schematic memory of a brand What do people think and feel when they see or hear a brand name The set of associations consumers have learned about a brand Product Positioning A decision by a marketer to try and achieve a de ned brand image relative to the competition within a market segment ex mac v pc commercials Perceptual mapping Offers marketing managers a useful technique for measuring and developing a product position It shows consumer perceptions of brands in relation to each other based on certain attributes Product repositioning Refers to a deliberate decision to signi cantly alter the way the market views a product Brand equity The value consumers assign to a brand above and beyond the functional characteristics of the product Willing to pay more for the brand name Brand leverage quotFamily brandingquot quotBrand extensionsquot quotUmbrella brandingquot Refers to marketers capitalizing on brand equity by using an existing brand name for new products Chapter 10 Motivation Personality and Emotion Motivation The reason for behavior A construct representing an unobservable inner force that stimulates and compels a behavioral response and provides speci c direction to that response Motivation Theories o Maslow39s Hierarchy of Needs Designed to account for most human behavior in general terms Physiological gt Safety gt Belongingness gt Esteem gt Selfactualization o McGuire39s Psychological Motives Detailed set of motives used to account for speci c aspects of consumer behavior 16 motives total Cognitive or Affective gt Preservation or Growth gt Active or Passive gt Internal or External Manifest motives The linkage between consumers behavior and motives are known and freely admitted Latent motives The linkage between consumers behavior and motives are either unknown or the consumer is reluctant to admit or reveal them Motivational Con ict o ApproachApproach A choice between two attractive alternatives 0 ApproachAvoidance A choice with both positive and negative consequences 0 AvoidanceAvoidance A choice involving only undesirable outcomes pick your poisonrock and hard place Regulatory Focus 0 Prevention focused Consumer desires safety and security looking to minimize losses Ad should present them with facts about the product 0 Promotion focused Consumer desires growth and development looking to maximize gains Ad should affect the emotional Personality An individuals characteristic response tendencies across similar situations Motivations are the energizing and directing force that makes consumer behavior purposeful and goal directed while personality of the consumer guides and directs the behavior chosen to accomplish goals in different situations Multitrait approach 5 factor model The most commonly used by marketers identi es 5 basic traits that are formed by genetics and early learning Extroverstion Instability Agreeableness Openess to experience Conscientiousness LJ39gtLJLJII I Singletrait approach 0 Consumer ethnocentrism Re ects an individual difference in consumers propensity to be biased against the purchase of foreign products 0 Need for cognition Re ects an individual difference in consumers propensity to engage in and enjoy thinking 0 Need for uniqueness Re ects an individual difference in consumers propensity to pursue differentness relative to others through the acquisition utilization and disposition of consumer goods Brand image What people think of and feel when they hear or see a brand name Brand personality A set of human characteristics that become associated with a brand or a particular type of image that some brands acquire Sincerity o Excitement Competence Sophistication Ruggedness Communicating brand personality Celebrity endorsers User imagery Executional factors Emotion The identi able speci c feeling and affect to refer to the likingdisliking aspect of the speci c feeling Emotions are strong relatively uncontrolled feelings that affect behavior Dimensions of emotion o Pleasure how pleasant o Arousal how intense o Dominance how controlling
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