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123 Cards in this Set

  • Front
  • Back

Market Segmentation Strategy

organization targets its product,service, or idea only to specific groups of consumers rather than to everybody

Consumer Behaviour

It is the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires

Consumer

a person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages of the consumption process

Relationship Marketing

Happens when we interact with customers on aregular basis and give them solid reasons to maintain a bond with the company overtime

Role Theory

Much of consumer behaviorresembles actions in a play. As in a play, each consumer has the lines, props, and costumesnecessary to put on a good performance

Drive Theory

Focuses on biological needs that produce unpleasant states of arousal

Expectancy Theory

Suggests thatexpectations of achieving desirable outcomes rather than beingpushed from within motivate our behavior.

Want

A specific manifestation of a need that personal and cultural factors determine.

Constructive Processing

Thought process where we evaluate the effort we’ll need to make aparticular choice and then tailor the amount of cognitive “effort” we expend to get thejob done.

Involvement

A person’s perceived relevance of the object based on their inherentneeds, values, and interests.

Brand Loyalty

Repeat purchasingbehavior that reflects a conscious decision to continue buying the same brand

Situation Involvement

Something that takes place with a store, Web site, or a location where peopleconsume a product or service

Problem Recognition

Happens when weexperience a significant difference between our current state of affairs and some statewe desire

Cybermediary

This term describes a Web site or app thathelps to filter and organize online market information so that customers can identify andevaluate alternatives more efficiently.

Evoked Set

The alternatives a consumer knows about.

Consideration Set

The alternatives a consumer seriously considers.

Knowledge Structure

A set of beliefs and the way we organize them in our minds.

Positioning Strategy

The marketer's ability ti convince the consumer to consider its product within a given category.

Category Exemplars

Brands we strongly associate with a category.

Evaluative Criteria

The dimensions we use to judge the merits of competing options.

Determinant Attributes

The features we actually use to differentiate amoung our choices.

Lexicographic Rule

Selecting the brand that is best on the most important attribute, then comparing them on the second most important attribute.

Elimination-by-Aspects Rule

Evaluating the brand on the most important attribute but imposing cutoffs.

Conjunctive Rule

Processing by brand and choosing one that meets all the cutoffs.

Purchase Momentum

When our initial impulse purchases increase the likelihood that we will buy even more.

Priming

Cues in the environment that makes us more likely to react in a certain way even though we're unaware of these influences.

Bounded Rationality

The 'good enough' perspective on decision making.

Emotional Oracle Effect

People who trusted their feelings were able to predict future events better than those who didn't.

Sentiment Analysis

The process that scours the social media universe to collect and analyze the words people use when they describe a specific product or company.

Sensation

The immediate response of sensory receptors to basic stimuli.

Perception

The process by which people select, organize, and interpret sensations.

Hedonic Consumption

The multisensory, fantasy and emotional aspects of consumers' interactions with products.

Sensory Marketing

Marketing that engages consumers' senses and affects their behavior.

Kinsei engineering

A philosophy that translates customer's feelings into design elements.

Absolute Threshold

The minimum amount of stimulation a person can detect on a given sensory channel.

Differential Threshold

The ability of a sensory system to detect changes or differences between two stimuli.

Just Noticeable Difference

J.N.D. The minimum difference we can detect between two stimuli.

Weber's Law

The stronger the initial stimulus, the greater a change must be for us to notice it.

Subliminal Perception

A stimulus below the level of the consumer's awareness.

Perceptual Selection

People attend to only a small portion of the stimuli to which they are exposed.

Perceptual Vigilance (Defence)

We are more likely to be aware of stimuli that relate to our current needs.

Adaptation

The degree to which consumers continue to notice stimulus over time.

Semiotics

A discipline that studies the correspondence between signs and symbols and their roles in how we assign meanings.

Self-Concept

The beliefs a person holds about his own attributes and how he evaluates the self on these qualities.

Self-esteem

The positivity of a person's self-concept.

Social Comparison

A process in which the person tries to evaluate her appearance by comparing it to the people depicted in artificial images.

Ideal Self

A person's conception of how he would like to be

Actual self

More realistic appraisal of the qualities we do and don't have.

Impression Management

Working hard to manage what others think of us.

Fantasy

A self-induced shift in consciousness, to compensate for a lack of external stimulation to escape from problems in the real world.

Symbolic Interactionism

The sociological tradition that stresses that relationships with other people paly a large part to form the self.

Looking-glass self

The process of imagining other's reactions.

Extended Self

External objects that we consider a part of us.

Social Footprint

The mark a consumer leaves after having occupied a specific digital space.

Lifestream

The ongoing record of one's digital lie across platforms.

Personality

A person's unique psychological makeup and how it consistently influences the way a person responds to her environment.

Personality Traits

The identifiable characteristics that define a person.

Brand Personality

The set of traits people attributes to a product as if it were a person.

Anthropomorphism

The tendency to attribute human characteristics to objects or animals.

Self-image congruence model

A model that suggests that we choose products when their attributes match some aspect of the self. Cognitive-matching.

Symbolic self-completion theory

A theory that suggests that people who have an incomplete self-definition tend to complete this identity when they acquire and display symbols they associate with that role.

Body Image

A consumer's subjective evaluation of their physical self.

Ideal of beauty

A particular model of appearance we want to attain.

Consumption Situation

A situation that includes a buyer, a seller, and a product or service.

One's situational self-image

The role one's play at any one time.

Queuing Theory

The mathematical study of waiting in line.

Retail Theming

A strategy that consists of going all out to create imaginative environments that transport shoppers to fantasy worlds or provide other kinds of simulations.

Atmospherics

The conscious designing of space and its various dimensions to evoke certain effects in buyers.

Rituals

Expressive, dramatic events we repeat over time.

Social Power

The capacity to alter the actions of others.

Reference Group

Actual or imaginary individual or group that significantly influences an individual's evaluations.

Brand Community

A group of consumers who share a st of social relationships based on usage of or interest in a product.

Consumer Tribe

A group of people who share a lifestyle and can identify with each other.

Conformity

A change in beliefs or actions as a reaction to real or imagined group pressure

Prediction Market

Groups of people with knowledge about an industry are, collectively, better predictors of the future than are any of them as individuals.

Intentional families

Groups of unrelated people who meet regularly for meals and who spend holidays together.

Family Financial Officer

The individual who keeps track of the family's bills and decides how to spend any surplus funds.

Attitude

A lasting, general evaluation of people, objects or issues.

Emotional Contagion

A process where messages that happy people deliver enhance our attitude toward the product.

Foot-in-the-Door Technique

Knowing that a consumer is more likely to comply with a big request if he agrees to a smaller one first.

Social Judgement Theory

People assimilate new information about attitude objects in light of what they already know or feel.

Assimilation Effect (Contrast)

An exaggeration that happens when people tend to perceive messages within their latitude of acceptance as more consistent with their position than those messages actually are.

Balance Theory

How a person perceives relations among different attitude objects and how he alters his attitudes so that these remain consistent.

Multiple Pathway Anchoring and Adjustment (MPAA)

A model that emphasizes multiple pathways to attitude formation, including outside-in and inside-out.

Permission Marketing

A marketing theory that acknowledges that a marketer will be much more successful when he communicates with consumers who have already agreed to listen to him.

Sleeper Effect

People forget about the negative source after a while.

Paradox of Low-Involvement

When we don't care as much about a product, the way it's presented increases in importance.

Culture

The accumulation of shared meanings. rituals, norms, and traditions among the members of an organization or society.

Value

A belief that some condition is preferable to its opposite.

Enculturation

The process of learning the beliefs and behaviors endorsed by one's culture.

Acculturation

Learning the value system and behavior of another culture.

The Rokeach Value Survey

A set of terminal values that apply to many different cultures. And a set of instrumental values, actions we need to take to achieve these terminal values.

Cooptation

Outsiders transform the original meanings of subcultural products for a larger audience to consume.

Culture Production System

The set of individuals and organizations that create and market a cultural product.

Reality Engineering

Marketers appropriate elements of popular culture and use them as promotional vehicles.

Product Placement

The insertion of a real product in fictional movies, tv shows, books, and plays.

Plinking

The act of embedding a product or service ink in a video.

Myth

A story with symbolic elements that represents a culture's ideals.

Ritual

A ritual is a set of multiple, symbolic behaviors that occurs in a fixed sequence and is repeated periodically. (Fortress Brands)

Sacred Consumption

Something that occurs when we set apart objects and events from normal activities and treat them with respect or awe.

Profane Consumption

Objects and events that are ordinary.

Sacralization

What happens when ordinary objects, events, and people take on sacred meaning.

Objectification

Attributing sacred qualities to mundane items.

Contamination

When objects we associate with sacred events or people become sacred in their own right.

Collecting

The systematic acquisition of a particular object or set of objects.

Creolization

When foreign influences integrate with local meanings.

Business Ethics

Rules of conduct that guide actions in the marketplace; standards against which most people in a culture judge what is right and what is wrong.

Materialism

Importance people attach to worldly possessions.

Provenance

Shoppers are willing to pay more for an item when they know exactly where it comes from.

Culture Jamming

A strategy to disrupt efforts by the corporate world to dominate our cultural landscape.

Social Marketing

Using marketing strategies to encourage positive behaviors.

Cause Marketing

A marketing strategy that aligns a company or a brand with a cause to generate business and social benefits.

Media Literacy

A consumer's ability to access, analyze, evaluate, and communicate information in a variety of forms, including print and non-print messages.

Green Marketing

A marketing strategy that involves the development and promotion of environmentally friendly products - and stressing this attribute when the manufacturer communicates with customers.

Greenwashing

What happens when companies make false or exaggerated claims about how environmentally friendly their products are.

Consumer Addiction

A physiological or psychological dependency on products or services.

Consumed Consumers

People who are used or exploited, willingly or not, for commercial gain in the marketplace. Prostitutes, organ, blood, and hair donors, babies.

Shrinkage

The industry term for inventory and cash losses from shoplifting and employee theft.

Anticonsumption

Types of destructive consumer behavior, in which people deliberately deface or mutilate products and services.

Learning

A relatively permanent change in behavior caused by experience. We can also learn observing events that affect others.

Behavioral Learning Theories

Learning takes place as the result of responses to external events.

Emotion

Feeling responding to a cue in the environment. It's coupled with action tendencies, lasts shorter and is intense. Emotion is a more likely response to an ad.

Mood

State of mind, unfocused and pre-existing.