marketing 330 exam #2

The knowledge and inferences that a consumer has about an object, its attributes, and its benefits.
belief
A belief that carries valence; is evaluative.
attitude
We go beyond the information provided and make judgements. For example, if someone is wearing cashmere , we think that person is wealthy.
inference
An attitude dinmension: ” i have liked something for a long time and will continue to like it”
persistence
We use this route when we have the motivation and ability to effortfully process the information presented.
central route
We might be motivated, but we don’t have the ability to effotrfully process the information. Our attitudes therefore are weakly held.
peripheral route
we are influenced by who is delivering the message: their credibility, their attractiveness, and the associations we have with them.
source factor
What the ad is saying and how it is saying it, for example complexity, order of presentation, one sided versus two sided, rational or emotional appeals.
message factors
A positive stimulus leads to positive affect. When that positive stimulus is paired with a brand, over time the brand will create response of positive affect.
classical conditioning
This theory suggests that there is a triangular relationship between an individual (you), another person (friend, enemy, celebrity), and a stimmulus (product, brand, issue). The relationship among these three aspects of the triad needs to be positive.
Balance Theory
We treat gains and losses differently. Losses loom larger than gains. We are against risk with respect to gains and risk seeking with respect to losses.
Prospect theory
At any given point in time, we look at the average of the stimuli available. As we gather additional information, it is like a moving average. So at anygiven point in time, the reference point we use is determined by the context.
Adaptation theory
Because of this, the decision process is simplified and there are boundaries on how we think about a problem and gather additional information.
framing
We assumed based on a description of one person that quiet reserved person would be a librarian and not a salesperson.
small sample sizes/stereotypes
Some of you thought that the ticket price doubled; others didn’t. it depended on how you lost the money.
mental accounts for different purchases
even though i told you it was a guess, your answers did not deviate too far away from my guess
anchoring
They are shortcuts and simple rules of thumb.
heuristics
you use your attitude stored in memory and go with the one you like the best.
attitude heuristic
The most important attribute decide the winner
lexicographic heuristic
You set a minimum cutoff for each attribute. The first brand you encounter that meets the minimum cutoffs wins.
conjunctive heuristic