Decision Making and Group Essay

Submitted By jimmyjuru2
Words: 5558
Pages: 23

1. Heuristics - Simple rules for making decisions, mental short cuts. For example, higher price = higher quality, certain brands make a product better, and for kids, higher quantity and larger in size = better. | 2. Anticonformity vs. Independence - Anticonformity refers to behaving in defiance. For example, not wearing certain things because you know they're trendy. Independence refers to ignorance of what is expected - you just wear what you want, don't know or care if it's trendy. | 3. Balance Theory - A triangle that considers relations among elements a person might perceive as belonging together - showing the relationship between a person and their perception of an attitude object and some other person or object - a balanced relationship shows all of the same feelings between the 3 triads | 4. Brand Personality - Refers to how consumers ascribe certain personality-like traits to different brands. The 5 dimensions are sincerity, excitement, competence, sophisitcation and ruggedness | 5. Compliance, Identification and Internalization - Levels of Commitment to an Attitude
- lowest level of involvement. Attitude formed to help gain rewards/avoid punishment.
- when attitudes are formed in order to conform with others.
- high level of involvement. Attitudes become part of consumer's value system. | 6. Conformity - A change in beliefs or actions as a reaction to real or imagined group pressure. Essentially trying to fit in with a specific reference group. Conformity affected by cultural pressures, fear of deviance, commitment, group unanimity size and expertise, and susceptibility to interpersonal influence | 7. Consumer Ethnocentrism - How people feel about foreign made products. For example, many people only want to buy Ford American Cars. | 8. Consumption Constellations and Product Complementarity – Consumption consellations refer to a set of products used to define, create, and perform social roles (ex: businessman- suit, briefcase, blackberry, Amex card). Product complementarity is when symbolic meanings of different products are related to each other. | 9. Consumption Symbolism - Using products and brands as a form of nonverbal communication. Price, quality, values, personality, lifestyle, and social status can all be attributed to certain aspects of a product or brand scheme. The more materialistic you are, the more you will use consumption symbolism as you try to have your possessions show others who you are. | 10. Deindividuation - A process in which individual identities get submerged within a group. Norms aren't always followed when in group - they have a larger influence over behavior (mobs, buying drinks for strangers at a bar) | 11. Fishbein Model: Multiattribute Attitude Model vs. Theory of Reasoned Action - MAM measures "salient" beliefs about a certain attitude. Basically, each attribute is given an importance multiplier, then each brand measured on this trait (then the two are multiplied together). The theory of reasoned action measures behavioral intentions and recognizes that uncontrollable factors such as social setting can inhibit certain behaviors. This is an extention of Fishbein's model, and measures the attitude towards the physical act of purchasing something (slide 25, attitudes) | 12. Guerilla Marketing - A type of Word-of-Mouth strategy that promotes a product via unconventional locations and intensive WOM campaigns. Examples include the VW Darth Vader and Honda CRV Ferris Bueller commercials airing before the superbowl on youtube. Other examples include artists leaking music on th estreets before a release, and RCA records hiring people to talk about Christina Aguilera on popular teen sites to create buzz | 13. Involvement - in regards to decision making: high involvement means the product is expensive, has serious personal consequences, and can reflect on one's social image, what is high for someone may be low for…