Cb Ppt 7

Front 1

Advertising

Back 1

It affects people physical perceptions. (beer tasted better when we knew the brand)

Front 2

Adv/Mktg affects

Back 2

TFPT
what we taste, how you feel, and how you perceive things.

Front 3

Why do we think our brand is better?

Back 3

we associate that brand name via Adv/Mktg. It does affect what we taste, how you feel, and how you perceive things.

Front 4

The recency affect

Back 4

The recency affect is the stuff at the end is given more weight in our interpretation judgment. Stuff that comes at the end has a great impact on how you judge something.

Front 5

The primacy affect

Back 5

The primacy affect is stuff at the beginning has a greater effect on your interpretation judgment.

Front 6

The initial judgment that you make on a person/brand tends to be ___

Back 6

resistant to change

Front 7

When it comes to evaluation in general first impressions _____

Back 7

lasts.

Front 8

Once we come to a conclusion, we are hesitant to change it. Even when later exposed to _____________

Back 8

information that would normally cause us to feel otherwise

Front 9

Your first impression in the market place is _____

Back 9

absolutely critical.

Front 10

The power of perceptual contrast is derived _______________

Back 10

by the recognition is relative because how you judge something depends on what you compare it to!

Front 11

power of perceptual contrast:
The different ways you judge between two things depend on

Back 11

how you see the second thing relative to the first.

Front 12

power of perceptual contrast:
How do you determine the physical attractiveness of women/men?

Back 12

In the experiment group women looked at men in GQ magazines and men looked at women in Glamour magazines. The control group didn’t look at any ads. Afterwards both groups looked at pictures of potential blind dates. Who do you think judged the people of being more attractive? The control group. All judgments are relative.

Front 13

reference pricing example

Back 13

Regular $200 now $49.99. Original $250 now 99.99.

Front 14

results of reference pricing example ( groups with non rf and with rf)

Back 14

The groups that saw the “Reg. $200” and “Orig. $250” thought it was a better price and a better deal then people that saw ads with no reference pricing.

Front 15

Point to remember about perceptual contrast in marketing is the principle that underlining and explaining why reference points work.

Back 15

The high and low price procedure makes people believe that the lower price is even lower

Front 16

perceptual contrast example: First 70 degree day after a very cold winter is judged

Back 16

to be warm

Front 17

Psychological Reactants

Back 17

A defense mechanism where an individual acts in a manner opposite from his or her unconscious beliefs.

Front 18

perceptual contrast example:
Vytorin 53% versus Lipitor 45 %. How do they make the 8 % appear even larger?

Back 18

The arrows are 33 % bigger in size. It is not illegal because the percentages are correct. It makes the percentage appear larger.

Front 19

Odd/Even Pricing- Two issues

Back 19

1Does it work? Yes. 2. Why does it work? What we have seen is that people have come to associate Odd/Even Pricing with sales. people are more likely to assume that it is being sold at a lower price

Front 20

Odd/Even Pricing-Which do marketers choose?

Back 20

It depends on how the marketer wants to position the brand (quality perception =$200) or (pricing=$199.98). Both of them have value.

Front 21

.Odd/Even Pricing
His and Her Watches Made From the Hull of the Titanic: $150,000.00. What would you think of this watch if you saw it priced at $149,999.99.

Back 21

$149,999.99 would not work for this product.

Front 22

The Effects of Choices on What You Choose: When does middle option look a lot more appealing

Back 22

when you offer an more epxensive item with options that one typically doens't need. The good/better/best

Front 23

With which sense to do you feel before think

Back 23

sense smell.

Front 24

Sensory Branding
example:

Back 24

pumping artificial smells of freshly baked bread by the bread aisle

Front 25

Sensory Branding stimulates

Back 25

sales

Front 26

Prior Knowledge

Back 26

and experiences influences how we process and interpret product for any information.

Front 27

Prior Knowledge:
novices versus experts example of bike attributes

Back 27

What they found is that as the number of attributes increased novices evaluated the bikes better experts evaluated the bikes worst.

Front 28

Prior Knowledge:
Novices usually used

Back 28

simple frequency information like the number of attributes to guide decision making.

Front 29

Prior Knowledge
Experts

Back 29

look too the meaning or the substance of the attributes to guide the decision making.

Front 30

Prior Knowledge:
used in comparison ads

Back 30

Look at the number of different ways that we beat them. We are better.

Front 31

inferential belief

Back 31

What you believe on one thing is based on what you believe or know about something else.

Front 32

What is the classic (primary) inferential belief in marketing –

Back 32

What is the classic (primary) inferential belief in marketing – THE PRICE / QUALITY RELATIONSHIP

Front 33

inferential belief in marketing
example:

Back 33

You want people to think you are high quality? Advertise your high price. Advertise that it si expensive. Example of the Bellagio

Front 34

Inferential Beliefs:
*Three broad criteria need to raise price and increase demand:

Back 34

1.A situation where consumers cannot make meaningful price comparisons across alternatives.
2.Low level of product knowledge (cannot make objective..) (“they raised the price this must be good”- inferential belief of a consumer)
3. Even when you raise the price this must fall into the consumers acceptable price range

Front 35

Inferential Beliefs:
Can raising the price increase demand

Back 35

If so, this is called a “prestige good”.

Front 36

Inferential Beliefs

Back 36

You want people to think you are high quality? Advertise your high price.

Front 37

Inferential Beliefs:
how cheap is too cheap

Back 37

The rule is that the less likely a consumer is to believe that the private label brand is roughly equivalent to the national brand, the closer the private label should correspond to the national brand’s own price standard to help consumers draw an implied quality comparison.Generally, it is unwise to price inexpensive products more than 20-25% below national brand counterparts.

Front 38

Perspective Theory

Back 38

Recognizes that peoples decisions about doing something often take in the range of possibilities of whether or not to do something.

Front 39

Perspective Theory
Looks at the most common heuristic people use

Back 39

“what’s the best that can happen” or the “what’s the worst that can happen?” This is how a lot of people go about framing decision making.

Front 40

Perspective Theory
Example

Back 40

1st Place Prize = A trip to Hawaii

2nd Place Prize = Accommodations for a trip to Las Vegas

3d Place Prize = $200 cash

Front 41

Top-Of-Mind recall – Highly correlated with

Back 41

attitude

Front 42

Give someone a product category and ask them to name one – the one that they name first is their

Back 42

Top-Of-Mind recall

Front 43

Top-Of-Mind recall has a lot to do

Back 43

with frequency effects in advertising

Front 44

Memory

Back 44

measures are frequently used in measuring the effectiveness of advertising

Front 45

Stage Analysis

Back 45

Acquisition
Retention
Retrieval

Front 46

Acquisition

Back 46

Acquisition – act of placing information into memory storage to begin with. (refers to learning)

Front 47

Retention

Back 47

Retention- the persistence of memory over time (memory and intertwined with retrieval)

Front 48

Retrieval

Back 48

the extraction of information from memory storage when needed. (memory and intertwined with retention)

Front 49

Why do we forget some things after being exposed to them? 3 explanations:

Back 49

1. Inadequate acquisition – inadequately acquired to begin with.
2. Info was adequately acquired but was lost while in retention.
3. It was adequately obtained and acquired, but not accessible. (Retrieval failure.)

Front 50

Why do we forget

Back 50

1. Decay

2. Interference:
Proactive vs. Retroactive

Front 51

Decay

Back 51

Decay (not everything placed in memory will stay there.. Our memoDecay (not everything placed in memory will stay there.. Our memory weakens over age..)
ry weakens over age..)

Front 52

Interference

Back 52

Interference: a retrieval explanation an interference with retrieving one memory because we have learned other things that block the memory.

Front 53

are the areas most relevant to marketing.

Back 53

Acquisition and Retrieval

Front 54

Repetition of info leads to

Back 54

better chance of remembering it in the future.

Front 55

The Total Time Law

Back 55

The degree to which information can be recalled is a direct function of the total study time afforded it independently of how that study time is distributed among short, frequent exposures or long, infrequent exposures.

Front 56

why reptition works is called

Back 56

Total Time Law

Front 57

The reason why repetition improves is

Back 57

bc memory improves with more exposure time.

Front 58

Visual Imagery

Back 58

We remember pictures better than words