Mkt351 Consumer Behavior Exam 2

Front 1

Demographics

Back 1

The size, structure, and distribution of a population.

Front 2

Economic Demographics

Back 2

The study of the economic characteristics of a nation's population.

Front 3

Birthrate

Back 3

The number of live births per 1,000 population in a given year.

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Natural Increase

Back 4

The surplus of births over deaths in a given period.

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Fertility Rate

Back 5

The number of live births per 1,000 WOMEN of childbearing age (15 to 44).

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Total Fertility Rate
(TFR)

Back 6

Average number of children that would be born alive to a woman during her lifetime if she were to pass through all of her childbearing years conforming to the age-specific fertility rates of a given year.

(How many babies are women having currently)

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Population Momentum

Back 7

The future growth of any population will be influenced by its present age distribution.

Front 8

Future Fertility Scenarios

Back 8

Forecasting birth decades into the future is difficult.

Front 9

Fecundity

Back 9

The physiological capability of women to reproduce. (fairly predictable)

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Fertility

Back 10

The actual reproductive performance.

Front 11

Cohort

Back 11

Any group of individuals linked as a group in some way (Usually age).

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Cohort Analysis

Back 12

The process of describing and explaining the attitudes, values, and behaviors of an age group as well as predicting its future attitudes, values, and behaviors.

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Depression Generation

Back 13

Great Depression, Pearl Harbor, WWII, Atomic Bomb, Korean War.
FDR, Eisenhower, Patton, Churchill, Joe DiMaggio.

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Baby Boomers

Back 14

Vietnam, Polio Vaccine, Civil Rights, Women's Movement, Kennedy Assassinations, Moon landing, Kent State Shootings, Beatles, Woodstock.

Atomic Bomb Drills, Early Cold War, Recreational drugs, Sexual Revolution, Dramatic increase in divorce, Energy crisis, Nixon Resignation.

MLK jr, JFK, Bob Dylan

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Generation X

Back 15

MTV, watergate, Elvis death, Jonestown, John Lennon murder, Three-mile Island, ESPN, Reagan assassination attempt.

Personal computers, AIDs, Kurt Kobain suicide, Ronald Reagan.

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Generation Y

Back 16

9.11.01, Oklahoma City Bombing, Columbia shooting, Clinton Impeachment, VA tech shooting, Princess Diana Death.

Optimism, Civic engagement, confidence, sociability, diversity, work-life balance.

Bill Gates, Mother Teresa, Mia Hamm, Tiger Woods.

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Generation Z

Back 17

9.11.01, Obama, Instant gratification, family oriented.

Front 18

Psychoanalytical Theory (Sigmund Freud)

Back 18

Personality consists of the Id, Superego, Ego

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Id

Back 19

Seeks immediate gratification for biological and instinctual needs.

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Superego

Back 20

The conscience controlled by societal norms and provides an ethical restraint on behavior.

Front 21

Ego

Back 21

The mediator between the hedonistic demands of the id and the moralist constraints of the superego.

Front 22

Lifestyle

Back 22

Patterns in which people live and spend time and money. Based on activities, interests and opinions. (AIOs)

Front 23

Psychographics

Back 23

An operational technique to measure lifestyles (often used interchangeably with the measurement of AIOs)

Front 24

VALS

Back 24

Values and Lifestyle Segmentation

Front 25

LOV

Back 25

List of Values

Front 26

Trait

Back 26

Any distinguishable, relatively enduring way in which one individual differs from another.

Front 27

Consumer Motivation

Back 27

Represents the drive to satisfy both physiological and psychological needs through product purchase and consumption. Gives insight into why people buy certain products. Stems from consumer needs: Industries have been built around basic human needs.

Front 28

Physiological Needs

Back 28

Fundamental human needs including food, water, & sleep.

Front 29

Safety & Health Needs

Back 29

Businesses provide a variety of products and services to appeal to safety and health conscious consumers. Protecting our personal info on computers is a new type of safety need.

Front 30

Need for Love & Companionship

Back 30

Humans are social creatures who need to experience and express love and compassion. Products are often used as symbols of love and caring.

Front 31

Need for Financial Resources & Security

Back 31

Money as a tool to satisfy many needs. Later in a person's life they will need financial security.

Front 32

Social Image Needs

Back 32

Companies reinforce the notion that products enable users to communicate their social image.

Front 33

Conspicuous Consumption

Back 33

Purchases motivated to some extent by the desire to show other people how successful we are.

Front 34

Need for Pleasure

Back 34

Products, services, and consumption activities provide fun and excitement.

Front 35

Need to Possess

Back 35

Consumers often acquire products simply because of their need to own such products (collectors).

Plays a role in impulse buying where consumers unexpectedly experience a sudden and powerful urge to buy something immediately.

Front 36

Need to Give

Back 36

Give something back to others or reward, and console ourselves.

Self-gifts let us motivate, reward, and console ourselves.

Front 37

Need for Information

Back 37

A reason for watching tv news, reading newspaper. This need fuels internet usage. Plays an important role in persuasion (if an ad appears when consumers need info, they are more likely to pay attention)

Front 38

Need for Variety

Back 38

Marketers may introduce different versions of original brand. Variety may become the focus of product positioning.

Front 39

Motivational Conflict

Back 39

Satisfying a need often comes at the expense of another need - these tradeoffs cause motivational conflict.

Front 40

Approach-approach (Type of Motivational Conflict)

Back 40

Deciding between two or more desirable options

Front 41

Avoidance-Avoidance (Type of Motivational Conflict)

Back 41

Deciding between two or more undesirable options.

Front 42

Approach-Avoidance (Type of Motivational Conflict)

Back 42

Behavior has both positive and negative consequences

Front 43

Maslow's Hierarchy

Back 43

Some needs take precedence over others. Difference in importance attached to various needs affects how consumers evaluate a product.

Front 44

Motivational Intensity

Back 44

How strongly consumers are motivated to satisfy a particular need. Depends on the need's importance.

Front 45

Involvement

Back 45

Degree to which an object or behavior is personally relevant. Motivational Intensity and Involvement determine the amount of effort consumers exert in satisfying needs.

Front 46

How do we motivate Consumers?

Back 46

Money
other incentives
Implementing a loyalty program
Enhance perceived risk
Arouse consumer curiosity.

Front 47

Risks of motivating with Money

Back 47

Resulting sales may increase but profits may not.
Attracts a disloyal consumer (will not aid repeat purchase behavior).
Price reductions can decrease perceptions of quality.
Price reductions can actually increase price sensitivity.

Front 48

Perceived Risk

Back 48

Consumers' apprehensions about the consequences of their behavior (buying & consumer life product). Greater perceived risk increases search. Educating consumers about risks may motivate them to make more informed choices that reduce exposure to risk.

Front 49

Consumer Knowledge

Back 49

Information stored in memory that's relevant to the purchase, consumption, and disposal of goods and services. Affects HOW decisions are made. It may determine the final decision.

Front 50

Brand Association

Back 50

The linkages in memory between the brand and other concepts. (NIKE swoosh, JEEP)

Front 51

Product Knowledge

Back 51

Represents the information stored in consumers' memory about products.

Front 52

Product Category Knowledge

Back 52

Knowledge about a general product knowledge.

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Product Novices

Back 53

Possess very simple levels of product category knowledge

Front 54

Product Experts

Back 54

Possess vast amounts of product category knowledge.

Front 55

Brand Knowledge

Back 55

Knowledge about a specific brand within a product category

Front 56

Recall

Back 56

Which brands can be retrieved from memory

Front 57

Top-of-the-mind awareness

Back 57

The particular brand that is remembered or thought of first

Front 58

Recognition

Back 58

Identify familiar brands from a list.

Front 59

Image Analysis

Back 59

Involves examining the current set of brand association that exist in the marketplace

Front 60

Brand Image

Back 60

The entire array of association that are activated from memory when consumers think about a brand.

Front 61

Perceptual Mapping

Back 61

A form of image analysis that derives brand images from consumers' similarity judgments.

Front 62

Perceptual Map

Back 62

Tells you how CUSTOMERS see you. Might not actually be true.

Front 63

Purchase Knowledge

Back 63

Encompasses the various piece of information consumers possess about products.

Front 64

Relative Price Knowledge

Back 64

What consumers know about one price relative to another.

Front 65

Consumption & Usage Knowledge

Back 65

Encompasses the information in memory about how a product can be consumed and what is required to actually use the product

Front 66

Persuasion Knowledge

Back 66

Represents what consumers know about the goals and tactics of those trying to persuade them.

Front 67

Self Knowledge

Back 67

The person's understanding of his or her own mental processes

Front 68

Desired Image

Back 68

The image that a company seeks to create in the marketplace for a product.

Front 69

Knowledge gaps

Back 69

An absence of information in memory

Front 70

Misperceptions

Back 70

Inaccurate knowledge

Front 71

Beliefs

Back 71

Subjective judgements about the relationship between two or more things.

Front 72

Feelings

Back 72

An affective state (Current Mood state) or reaction (emotion experienced during product consumption)

Front 73

Attitudes

Back 73

Global Evaluative Judgements

Front 74

Intentions

Back 74

Subjective judgements by people about how they will behave in the future.

Front 75

Expectations

Back 75

Beliefs about the future.

Front 76

Brand Distinctiveness

Back 76

The extent to which a brand is perceived as being unique or different from its competitors.

Front 77

Unique Selling Proposition (USP)

Back 77

The differentiating characteristic of a product or brand that makes it more desirable than the competition.

Front 78

Inferential Beliefs

Back 78

Consumers use beliefs about one thing to form beliefs about another thing.

Front 79

Price-Quality Inferential Beliefs

Back 79

Consumers use price information to form beliefs about a product's quality.

Front 80

Partially Comparative Pricing

Back 80

When a retailer features price comparisons for some but not all of the products it carries.

Front 81

Consumer Confusion

Back 81

Consumer simply does not know WHAT to believe.

Front 82

Reasons for consumer confusion

Back 82

Conflicting info and knowledge.

Mistaking one company's product for the product of another company.

Front 83

Mood State

Back 83

How people feel at a particular moment in time.

Happy? Sad? Energized? Tired? Bored?

Front 84

Properties of Consumer Attitudes
(VERCA)

Back 84

- Valence
- Extremity
- Resistance
- Confidence
- Accessibility

Front 85

The Fishbein Model

Back 85

Proposes that attitude towards an object is based on the summed set of beliefs about the object's attributes weighted by the evaluation of those attributes. Attributes can be any product or brand association.

Front 86

Benefits of using Multiattribute Attitude Models

Back 86

Diagnostic Power: examine WHY consumers like or dislike products.

Can provide info for segmentation.

Useful in new product development. Guidance in identifying attitude change strategies.

Simultaneous importance-performance grid with marketing implications for each cell.

Front 87

Changing Beliefs

Back 87

If beliefs are false, then inform consumer of reality. If beliefs are true, then it may be necessary to modify the product. Comparative advertising can counter beliefs about competitive brands.

Front 88

Changing Attribute Importance

Back 88

More difficult than changing a belief.

Increasing attribute importance is desirable when the competitor is farther from the ideal-point than your product.

Front 89

Changing Ideal Points

Back 89

After consumer preferences for what ideal product should be.