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Consumer Behavior Final Exam Review (CH 12-16)

by: emmarie96

Consumer Behavior Final Exam Review (CH 12-16) 3323

Marketplace > North Dakota State University > 3323 > Consumer Behavior Final Exam Review CH 12 16
OK State
GPA 3.42

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About this Document

study guide covering what will most likely be on the final exam.
Consumer and Market Behavior
Dr. Zachary Arens
Study Guide
Marketing, Consumer, behavior, final, exam, review
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This 6 page Study Guide was uploaded by emmarie96 on Monday May 2, 2016. The Study Guide belongs to 3323 at North Dakota State University taught by Dr. Zachary Arens in Winter 2016. Since its upload, it has received 137 views.


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Date Created: 05/02/16
CONSUMER BEHAVIOR FINAL EXAM I. CHAPTER 12 – DECISION MAKING A. decision making process- - need recognition - search for information - evaluation of alternatives - choice - post-choice evaluation B. perspectives on decision making 1. rational perspective 2. experiential perspective 3. behavioral influence perspective C. ** RISKS IN DECISION MAKING ** - financial- associated with cost of production - social- how others will view purchases - performance- associated with product performing as expected - physical- safety of product and likelihood of harm - time- time required to search for and maintain a product 1. low risk = habitual decision making (low involvement) - brand LOYALTY (commitment) vs. brand INERTIA (lacks attachment) 2. high risk = extended decision making (high involvement) D. need recognition - actual state – perceived current state - desired state – perceived state for which the consumer strives E. SETS: 1. consideration set- total number of brands, or alternatives, that are considered in consumer decision making 2. universal set- total collection of all possible solutions to a problem 3. awareness set- set of alternatives of which a consumer is aware II. CHAPTER 13 – DECISION MAKING A. evaluative vs determinant criteria 1. EVALUATIVE CRITERIA – attributes, features, or potential benefits that consumers consider when reviewing possible solutions to a problem - know the difference between FEATURES and BENEFITS 2. DETERMINANT CRITERIA – evaluative criteria that are related to the actual choice that is made; consumers aren’t necessarily aware B. HEDONIC value vs UTILITARIAN value 1. hedonic criteria- emotional, symbolic, and subjective attributes/benefits that are associated with an alternative 2. utilitarian value- functional or economic aspects associated with an alternative C. categorization 1. product categories- mental representations of stored knowledge about groups of products 2. category levels - superordinate- highest level of categorization (ex: beverages) - subordinate- more detailed (ex: soda, sports drink, juice) - features- performance characteristic of an object (ex: calories, carbs, etc) D. missing attribute information - consumers tend to weigh the criteria that are common to both alternatives quite heavily in evaluation - tend to discount info that is missing for the option that performs better on the common criteria - EXHIBIT 13.5 E. COMPENSATORY MODELS - one attribute can make up for another that’s lacking - attitude-toward object model F. NONCOMPENSATORY MODELS - conjunctive- alternative must pass minimum cutoff on all attributes; the “AND” rule - disjunctive- alternative must surpass cutoff on any attribute; the “OR” rule - lexicographic- alternative that performs the best on the most important attribute is selected - elimination by aspects (EBA)- eliminate alternatives starting from most important attribute and moving on to next attribute, etc. III. CHAPTER 14 – SATISFACTION A. durable goods- goods consumed over a longer period of time (ex: appliances) B. nondurable goods- goods that are quickly consumed (ex: food) C. satisfaction- mild, positive emotional state resulting from a favorable appraisal of a consumption outcome 1. Theories of satisfaction - expectancy/disconfirmation theory- consumers enter into a consumption experience with predetermined cognitive expectations of consumption o positive & negative disconfirmation o expectations  predictive- what you expect WILL happen  normative- what you expect SHOULD happen  ideal- of what would IDEALLY happen  equitable- what should happen based on FAIRNESS - equity theory- consumers cognitively compare their own level of inputs and outcomes to those of another party in exchange - attribution theory- explains why a certain event has occurred o factors:  locus- judgments of who is responsible from an event  control- extent to which an outcome was controllable or not  stability- likelihood that an event will occur again in the future D. disposal- any packaging that is no longer necessary for consumption to take place - ways of disposal: trash, recycle, sell it, converting it (repurpose), trade, donate IV. CHAPTER 15 – CONSUMER RELATIONSHIPS A. procedural justice- extent that the consumer believes that the processes handling an issue are FAIR B. Switching- the times when a consumer chooses a competing choice rather than the previously purchased choice on the next purchase occasion 1. switching costs: - procedural- lost time and effort - financial- total economic resources that must be spent or invested as a consumer learns how to obtain value from a new product choice - relational- emotional and psychological consequences of changing from one brand/retailer/service provider to another V. CHAPTER 16 – MISBEHAVIOR A. motivations of misbehavior - unfulfilled aspiration - thrill seeking - lack of moral constraints - differential association - pathological socialization - provocative situational factors - opportunitism B. moral beliefs- beliefs about the perceived ethicality or morality of behaviors - moral equity- beliefs regarding an act’s fairness or justness - contractualism- beliefs about the violation of written (or unwritten) laws - relativism- beliefs about the social acceptability of an act C. Deontology- ethical behavior determined by focusing on the action rather than the consequences and emphasizes regulations, laws or code (ex: Ten Commandments) D. Teleology- focus on consequences rather than the action itself (ex: kill one to save many) E. deceptive advertising- omits information that is important in influencing a consumer’s buying behavior; illegal F. puffery- making exaggerated claims about a product’s superiority; no overt attempt to deceive a targeted consumer; legal G. strict liability- legal action against a firm whereby a consumer demonstrates in court that an injury occurred and that the product associated with the injury was faulty in some way H. negligence- situation whereby an injured consumer attempts to show that a firm could foresee a potential injury might occur and then decided to not act on that knowledge I. punitive damages vs compensatory damages - punitive- damages that are aosught to punish a company for behavior associated with an injury - compensatory- damages intended to cover costs incurred by a consumer due to an injury VI. EXTRA MATERIAL A. chapter 2 – consumer value - Consumer Value Framework (CVF) o internal influences, external influences, consumption process, value (hedonic & utilitarian) - value = what you get – what you give B. chapter 4 – memory - multiple storage system o sensory memory (iconic/sight & echoic/sound) o workbench memory- long-term memory  encoding and retrieval - learning o repetition o dual coding o meaningful encoding o chunking - associative networks- semantic networks; mental pathways linking knowledge within memory C. functions of attitudes - utilitarian function - knowledge function - value-expression function - ego-defensive function


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