WSU MKTG 407 - Final Exam Study Guide (7 pages)

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Final Exam Study Guide

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Final Exam Study Guide


Here is the final exam study guide with the 4 sections in details. Even thought its 4 topics, there is still a lot of information to know! Email me with questions

Study Guide
Washington State University
Mktg 407 - Consumer Behavior
Consumer Behavior Documents
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MKTG 407 1st Edition Final Exam Study Guide Ethics and Social Responsibility What is marketing o American marketing association definition Marketing is an organizational function and a set of processes for creating communicating and delivering value to customers and for managing customer relationships in ways that benefit the org and its stakeholders In sum Marketing is about delivering value to all people affected by a transaction Is about meeting needs Consumer Market orientation o Idea is captured by the marketing concept Purpose of the organization is to Achieve long term success of or by creating customer value meeting customers needs and delivering satisfaction better than ones competition and establishing and maintaining a mutually beneficial long term relationship with the customer Social Marketing orientation o Built on social marketing concept Try to benefit consumers society and firm Consumer well bring marketing to enhance consumers long term quality of life o Sustainability Designing and recycling products so that we meet present needs without compromising ability of future generations to meet there s o Transformative consumer research Concerns over precision targeting and privacy Page 241 Ways marketers can manipulate consumers Page 241 Some problems associated with suboptimal consumer choices Page 241 Marketing to Children o Children often imitate behavior of others o Children not able to carefully process advertising claims persuasion knowledge not fully developed o Children unaware of privacy rights and risk of providing private information o Children advertising review unit chart on Page 242 243 Marketing of Violence Charts on Page 244 o Meta Analysis on effects of Violent Video Games Meta analysis Statistical technique of combining effects across large number of studies Looks for average effect and factors that might change that effect size Analyzed 136 studies Included cross sectional correlational experimental and longitudinal studies across a variety of countries Experimental and longitudinal able to demonstrate causation Key findings Increase aggressive thoughts feelings and behavior o Effects somewhat strong in western cultures but don t depend on gender Decreases empathy and prosocial behavior Overall effects tend to be larger in studies judged to have strong methodology Marketing of Beauty Promoting Health Behavior Food for Thought commercial o Is about a soda advertising how much sugar is in soda and that the average person could gain 10lbs per year if they drank 1 soda daily o Questions asked What is this add trying to achieve aside from reducing soda consumption Will this ad be effective Why or why not On whom do you think the ad will have the greatest impact Why Self Defeating Behaving o Is so ubiquitous that rationality in judgment and decision making seems to be comparatively rate and nowhere is this more apparent that in the domain of health behavior Hall and Fong 2007 Temporal dilemmas o Temporal trap When a behavior results in short term positive consequences Boy that soda tastes great but long term negative consequences 10lbs of fat in a year o Temporal fence When a behavior results in short term negative consequences saving money cant hurt because you cant use for current pleasures but long term positive consequences it can grow into a nice nest egg What we strive for Ex Saving money Exercise Consideration of future consequences o Definition Personality variable tapping the extent to which individuals are aware of the immediate vs delayed consequences of their actions awareness model and are influences by those consequences concern model How aware are you of the consequence If so then how concerned are you with it This will then affect how to be in the future o 12 item scale Future Item I consider how things might be in the future and try to influence those things with my day to day behavior Immediate Item I only act to satisfy immediate concerns figuring the future will take care of itself o Public policy related behavior Smoking alcohol health concern HIV testing Diabetes Screening Sleep Habits GPA Exercise Impulse buying credit card debt Pro environmental behavior o Models Page 248 251 Motivation o What s the big Idea This research examines whether risky health behaviors can be mitigated by being linked to identities consumers do not want to signal to others o Study 1 Junk Food Study Page 252 o Study 2 Alcohol Study Page 253 o Study 3 Restaurant Study Page 254 o Conclusions Linking unhealthy behaviors with Dissociative avoidance groups reduces targets groups likelihood of engaging in those behaviors Effect stronger among those who really don t want to be associated with the dissociative group study 2 and among high self monitors study 3 Effects generalize across junk food and alcohol are demonstrated in naturalistic settings dorms restaurants with observed behavior Cause Related Marketing Cause Related Marketing o Process of formulating and implementing marketing activities that are characterized by an offer from the firm to contribute a specified amount to a designated cause when customer engage in a revenue providing exchanges that satisfy organizational and individual objectives Caradarahan and Menon 1988 o Ex Starbucks help protect the forest land Pampers 1 pack 1 vaccine KFC buckets for the cure History of Cause related Marketing o American express 1983 joined the statue of Liberty restoration Fund 1 cent for each use of its charge card 1 dollar for each new car issued 28 increase in card usage over the same time period in 1982 1 7 million contribution by American express to the statue of liberty restoration fund Corporate and Marketing Objectives o Gain Global visibility o Enhance corp image o Thwarting negative publicity o Pacifying customer groups o Generating incremental sales o Promoting repeat purchases o Promoting multiple unit purchases o Promoting more carried usage o Increasing brand awareness o Increasing brand recognition o Enhancing brand image o Reinforcing brand image o Broadening customer base o Reaching new market segments o Increasing level of merchandising activity Uniqueness o CRM Contributes to charity from sales Offering economic incentives are NOT key characteristics of CRM coupons refund offer but can be included o Corporate Philanthropy Donations made on behalf of the company not necessarily based on sales Can include sponsorships Pros and cons o Pros Increase sales Boost public image Pacify customers Help

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