MKT 365 Midterm Review
Negativity Effect- Humans strive more on the negative than the positive. It’s more likely you remember negative information and is more easily recalled, because we have expectations that the product or person should work a certain way. However, negatives are shared more, because of a violation of expectations. Negative information is more diagnostic * Use negativity to advantage such as a competitor’s product * Reinforce positive attitudes by detaching yourself to negative stigmas and emphasizing other negatives of companies (eg. We don’t use child labor)
Aggression- Can lead to violent behavior if there isn’t some “cool-off” period
Frustration Hypothesis- More likely to act violent
Excitation- If arousal is high, it is more likely to carry over into other situations. Our ability to process rationally is diminished. Not everyone reacts the same to aggressive stimuli. * People exhibit things differently
Perception-How your attitude changes depending on prior knowledge or cues that alters your perception. This is important because context plays major role.
Long Term Memory- It’s important for a brand to have fast spreading information for positive attributes. This simultaneous pairing leads to quick consumer responses. There is an evoked set of negatives and considerations. The considerations do not have those negatively valence items
Five Step Model- Problem, search, evaluate, external search,
Habitually Inert- Buy things, because that’s what you always buy, not because of some specific brand loyalty
Myth Perception- People have external factors that influence their decisions
Thresholds- Cumulative effect of a sustained advertising campaign that brings about customer recognition of a brand or product in the form of a significant jump in sales revenue. The expenditure level at which this effect occurs is then used as a benchmark for setting future advertising budgets.
Sensory- appealing to the senses of the existing or the prospective customer insuch a manner that he feels stronglyattached to the brand and can recall thebrand instantaneously.
Discounting- a deduction from the full amount of a price or debt, as in return for prompt payment or to a special group of customers See also
Weber’s Law- Need increasingly greater stimuli to get attention (e.g. Coke and Pepsi went on a price war, offering larger inducements, until people wouldn’t buy at regular price anymore)
Social Learning Theory-Indirect observations (e.g. Brother yelling at TV you might end up yelling at the TV)
Comedic Violence- It is most effective towards certain age groups. It does not appeal to other age groups and can be seen as distasteful and insensitive, which can harm the company’s image. However, the people who are positively affected by it are able to attach the good feelings of smiling and laughing to the brand
Classical Conditioning- Affect Transfer is where the positive or negative feelings are later translated into a consumer’s feelings toward a brand
Evolutionary Theory- People evolve to either be aggressive. Certain traits become acquired traits and those help you survive and are more likely to be passed on.
Attention Hierarchy- At the top, solely focusing your attention on one thing. Next, you’re cognizant of your surroundings. Divided attention is multitasking and toggling two tasks (this doesn’t allow your full attention to one thing). Lastly, there is mere exposure, where someone might see an ad and not really remember it until they see it again and is now in their mind
Corporate Social Responsibility (CSR)- Cannot compensate between quality issues. Where there is minimal product differentiation, the consumer will be more likely to go for a brand that helps a cause. Only works when you see products as direct substitutes
Fragmented Market-Either trivial or distinctive quality. This could be a big difference in quality or price. Is it trivial product...
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