Mkt 232 Final

Front 1

Marketing

Back 1

Marketing is the activity, set of institutions, and processes
for creating, communicating, delivering, and exchanging offerings
that have value for customers, clients, partners, and society at large.

Front 2

Consumer Behavior

Back 2

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.

Front 3

Fishbein Model

Back 3

Aijk = Sigma Betaijk Iik

Front 4

Meaning of Fishbein

Back 4

i = attribute
J = brand
k = consumer
I = the importance weight given attribute i by consumer k
Beta = consumer k’s belief regarding the extent to which brand j possesses attribute i
A = a particular consumer’s (k’s) attitude score for brand j

Front 5

Extended Fishbein is...

Back 5

Theory of reasoned Action

Front 6

Theory of reasoned action includes...

Back 6

Subjective Norms
Attitudes and Subjective norms lead to behavioral intention, not behavior

Front 7

Compensatory decision strategy

Back 7

decision strategy that allows compensation for downfalls in specific criteria.

Front 8

Compensatory examples

Back 8

Simple Additive
Weighted additive

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Non-compensatory Decision strategy

Back 9

Does not allow items to make up for downfalls in specific attributes

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Non-compensatory examples

Back 10

Lexicographic
Elimination by aspects
Conjuntive

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Lexicographic

Back 11

non-compensatory decision strategy
Item that scores the best on the most important attribute is chosen

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Simple additive

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Compensatory decision strategy
all attributes are equal in importance
The item with the largest number of positive attributes is chosen

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Weighted additive

Back 13

Compensatory decision strategy
attributes are ranked by importance

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elimination by aspects

Back 14

Non-compensatory decision strategy
imposes specific cut-offs for most important attribute

Front 15

Conjunctive decision strategy

Back 15

non-compensatory
sets minimums for each attribute and takes the first item that makes all of the cut-offs

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Conditioned Stimulus

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Stimulus that elicits a conditioned response

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Unconditioned Stimulus

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Stimulus that naturally elicits an unconditioned response.

Front 18

Definition of Fishbein

Back 18

Equation used to give numerical value to an attitude a person has toward a particular brand.

Front 19

Components of theory of reasoned action

Back 19

Attitude and behavioral norms feed into behavioral intentions, which leads into behavior

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Classical Conditioning

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Occurs when a stimulus that elicits a natural response is paired with another stimulus that does not naturally elicit a response

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Unconditioned Stimulus

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Naturally capable of eliciting a response

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Conditioned Stimulus

Back 22

Does not naturally elicit a response, but when associated with an unconditioned response, elicits a response

Front 23

Conditioned Response

Back 23

The response that is caused by a conditioned stimulus

Front 24

Instrumental Conditioning

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Occurs when an individual learns to perform behaviors that produce positive outcomes and to avoid those behaviors that produce negative ones.

Front 25

Differences between Classical and Instrumental Conditioning

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Classical-Simple and involuntary
Instrumental-made deliberately, to obtain a goal, and may be more complex

Front 26

Components of Instrumental Conditioning

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Shaping
Positive Reinforcement
Negative reinforcement
Punishment

Front 27

Absolute threshold

Back 27

refers to the minimum amount of stimulation that can be detected in a given channel

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Differential Threshold

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refers to the ability to detect changes between two stimuli

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JND

Back 29

The minimum difference that can be detected between two stimuli

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Absolute threshold in marketing

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A billboard may be in the area of highest traffic, but the print may be too small, and out of our visual absolute threshold

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Differential threshold in Marketing

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this is observed when a retailer increases or decreases a price

Front 32

Weber's Law

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The stronger the initial stimulus, the greater the change must be for it to be noticed.

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Weber's Law in Marketing

Back 33

Alamo-Sale is 50 cents off
Payday-Sale is 50 cents off