Buyer Behavior Test 4

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  1. Buzz Marketing
    The most powerful form of marketing
  2. Word-of-mouth
    • The act of one consumer talking to another about a brand.
    • Can be positive or negative
  3. Organic Word-of-Mouth
    Word of mouth that occurs naturally.
  4. Product Pushers
    opinion leaders recruited by a company to get products prominently seen and talked about.
  5. Imitation Evangelists
    actors put on the payroll for stealth buzz campaigns.
  6. Best Paid Athlete Endorser is.....
    Tiger Woods
  7. Consumer Generated Marketing
    The creation of advertising or other marketing content by consumers.
  8. Product Placement
    The insertion of branded goods and services within the content of popular media, including movies, video games, books, and music.
  9. E-tailers
    electronic retailers
  10. Components of a well-designed website
    • Choice and customization
    • Information Search and Navigation
    • Organization of Information
  11. Information Search
    how much information consumers attempt to acquire.
  12. Recommendation Agent
    an interactive decision aid that helps consumers eliminate unwanted options.
  13. Amount of Information Search
    Consumers search for more information when involvement is high.
  14. Relationship Marketing
    building stronger relationships with consumers by using information technology and improved business processes to build consumer trust and brand loyalty.
  15. Salience and Vividness Effects
    • Salient information stands out from its context or background.
    • Vivid information stands out regardless of its context or background.
  16. Context Effects
    Contrast Effect and Assimilation Effect
  17. Contrast Effect
    A shift in judgment away from a contextual reference point.
  18. Assimilation Effect
    A shift in judgment toward a contextual reference point.
  19. Pseudodiagnosticity
    The illusion of perceived relevance.
  20. Group Decision Making
    Managers often make decisions in groups or committees because they believe that "many heads are better than one."
  21. Common Knowledge Effect
    Relatively little sharing of unique information
  22. Group Polarization
    Group discussion often increases the extremity of the preferences shared by a majority of group members.
  23. Groupthink
    excessive conformity as the result of the illusion of group invisibility.
  24. Biases from Underprocessing
    Managers' over rely on cognitive heuristics, or strategies designed over simplify judgement and decision making.
  25. Epistemic freezing
    the tendency to maintain closure as long as possible, even if this means being close-minded or unwilling to consider alternatives.
  26. Increasing predictive accuracy
    Planning Fallacy, Unreliable Information, Invalid Information and Linear Models.
  27. Planning Fallacy
    the overconfident belief that a project will proceed smoothly as planned.
  28. Unreliable Information
    the result of poor measurement, even when the target does not change.
  29. Invalid information
    confounds measures of the target with measures of non-targets.
  30. Linear Models
    systematic and consistent decision aides involving equations comprised of important attributes, weighted for importance.
  31. Avoiding Overconfidence
    Overconfidence is dangerous because it discourages contingency plans.
  32. Resisting Scenario Thinking
    • It is easier to think in scenarios that in terms of probabilities and statistics.
    • Good Storytellers can make an event seem inevitable.
Card Set:
Buyer Behavior Test 4
2015-11-20 04:36:17
Buyer Behavior
Buyer Behavior
Buyer Behavior Test #4 Chapters 16-19
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