Consumer Behavior Test 1

Front 1

Behavioral Economics

Back 1

studies cognitive, social, & emotional influences on people's observable economic behavior

Front 2

Consumer decision making split

Back 2

30% rational, 70% emotinal

Front 3

Behavioral Economics identifies ...

Back 3

behaviors & adapt to customers' irrational biases & emotions

Front 4

Social Proof

Back 4

Consumers look to other people for information on what to buy or what service to use

Through word-of-mouth and online reviews

Front 5

Loss Aversion

Back 5

Consumers are more willing to take risks in order to avoid losing things rather than gainining things

Try saying stop losing instead of saving

Front 6

Endowment Effect

Back 6

Consumers value an item they own & have emotional attachement to more than similar item owned by someone else

Establish a customer's partial ownership in the product

Front 7

Default

Back 7

pre-set options or courses of action consumers receive (401(k) w/ employer)

Unlikely to defect from this, due to loss aversion.

Front 8

Choice Overload

Back 8

don't present too many options to consumers

more likely to buy with fewer choices

Front 9

Framing

Back 9

how marketers present choices/context/information can influence consumers' decisions

Including a few cheaper options or an outrageous option increases the likelihood a consumer buys a more expensive option

Front 10

Decoy Effect

Back 10

Concumer preference can change when a 3rd, less desirable option is presented

The options marketeres offer influence decisions

Front 11

Anchoring

Back 11

Consmers rely heavily on the 1st piece of information offered & use it as a benchmark moving forward

A marketer can say a $399 item has been marked down to $99, making the product more desirable

Front 12

Power of Free

Back 12

Seeing the word free releases dopamine which makes us happy

Takes away loss aversion if something is free

Front 13

Peak-end Rule

Back 13

people largely judge an event based on the peak and end of the event, not the average experience of the whole thing

Front 14

Scarcity Effect

Back 14

people are motivated by shortages

Front 15

Sunk Cost Effect

Back 15

tendency of humans to continue to inves in something that doesn't work

once we invst in something, our commitment to it grows

Front 16

Irrational Value Assessment

Back 16

inherently expect heaper goods to be inferior

rate quality of product higher if you paid more

Front 17

Gambler's Fallacy

Back 17

believeing independent events are related

Front 18

Confirmation Bias

Back 18

seek out or evaluate infomration in a way that fits with preexisitng thinking

Front 19

Jobs to be Done

Back 19

Understanding what "jobs" consumers are using your sport product or service for

Understanding consumer what consumers want and what they are already using your products for to better tailor your marketing strategy

Front 20

Positive Hiring Experience

Back 20

If a consumer has a positive experience hiring a product or service, they are more likely to do it again in the future

Front 21

satisfaction

Back 21

measure to the degree of which a sport product or service meets the expectations of the consumer

Front 22

quality

Back 22

degree to which sport product satifies customers needs and in particular the degree to which it meets their expectations

Front 23

Stages of Sport Experience

Back 23

Pre Event, Event, Post Event

Front 24

Sport Experience Environment

Back 24

Physical settings, social actors, social interactions with others or service encounters, and context

Front 25

Sport User Interactions

Back 25

all direct and indirect ineractions a consumers experience across a multitude of channels and at various points in their relationship with the organization

Front 26

Sport User Interactions Produce ...

Back 26

emotional, sensorial, physical and spirtual responses that can dynamically differ based on the user expectation levels, dispositions, and context

Front 27

user experience design

Back 27

interactions choreographed similar to a theatrical production

dynamic sequence of operational choices related to where, how and when audience is exposed to stimuli

Front 28

Front Stage

Back 28

About the consumer experience

How consumer interacts with touchpoints

Front 29

Touchpoints

Back 29

Any physical or mediated elements users interact with during journey

Front 30

Back Stage

Back 30

Where the value in an experience is created

management related activities that occur behind the scenes

Performance Delivery

Front 31

Developing a Blue Print

Back 31

identify key activities in creating and delivering service

define big picture than drill down to obtain a higher level of detail

Front 32

Sport User

Back 32

Trying to meet the need the consumer wants

Front 33

Sport Context

Back 33

the actual environment where the sport behavior takes place

Front 34

Sport Organization

Back 34

create/deliver sport product/service to create resources

increase demand to get more resources

Front 35

Inputs

Back 35

Influencing sport consumer experiences and decision making

Marketing Activities & Socio-Cultural Factors

Front 36

Marekting Activities

Back 36

Extending the Marketing Mix (the P's)

Front 37

Socio-Cultural Factors

Back 37

family, friends, colleagues, age cohorts, media, social class, etc

Front 38

Internal Processing

Back 38

unobservable psychological mechanisms that govern the manner in which sport consumers evaluate external stimuli and actual experiences

Phsychological Forces

Front 39

Psychological Forces

Back 39

Motivation, Perceiveed constraints, attitudes, personality, learning, perception

Front 40

Central Route

Back 40

for high involvement purchases

Requires more cognitive processing

For really good products

Front 41

Peripheral Route

Back 41

Low involvement

Consumer less motivated to think

Learning through reptition, visual cues, & holistic perception

For crap products

Front 42

Outputs

Back 42

Attitudinal Outcomes

Behavioral Outcomes

Front 43

Attitudinal Outcomes

Back 43

Respresent new beliefes and feelings as a result of sprot experience

Satisfaction

Front 44

Behavioral Outcomes

Back 44

frequency and complexity of actual usage behavior

Front 45

Market Segmentation

Back 45

process of dividing market into distinct subsets of consumers with common needs or characteristics

Choose one or two to target

Front 46

Priori

Back 46

Conceptual and based on past research

focuses on researchers prior knowldege and experiences

Front 47

Posteriori

Back 47

data drive by current research

market grous formed on primary research (e.g. cluster analysis)

Front 48

Socio-cultural

Back 48

based on social class (income, education, occupation)

Focuses on big picture unlike dmeographics which is more personal

Front 49

Profile

Back 49

segmentation criteria

summary describing a collection of users

details in profile generally describe ranges or frequencies of responses

Front 50

Persona

Back 50

aspects of consumers character persented to or perceived by others

insight into consumer using story based on data and potential interactions and relationships

Front 51

Behavioral Segmentation

Back 51

usage rate, loyalty to a product/service

Front 52

Human Factors

Back 52

Pulling together urginomics with psychology

Front 53

Sport Consumer Journey Map

Back 53

an illustrative document that captures a sport consumer's journey that helps you see and evaluate the experience he/she is having from the consumer point of view

Front 54

Blueprint

Back 54

detailed visual document that captures the service delivery process across touchpoints, including the back stage and front stage of the service delivery