CU-Boulder PSYC 4456 - The Big Five (Continued) (2 pages)

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DM 272 1st Edition Lecture 8 Outline of Last Lecture I Perceptual Positioning II What is a Blind Taste Test III Perception vs Preference IV Why Blind Taste Testing Outline of Current Lecture I Memory II Importance of Consumer Knowledge III Consumer Knowledge IV Types of Consumer Knowledge V Product Knowledge VI Current Lecture Memory Traditional View o Short term memory vs long term memory LTM o LTM information warehouse through rehearsal and meaningful association o Two separate systems Recent Research o How you process information determines what aspect of memory The more effort it takes to process information the more likely to be LTM o Focus on interdependence Representation of LTM o An associative network model in which LTM is a network of nodes and associative links o Nodes are stored information or concepts EX an attribute a brand a celebrity or a related product o Associative links refers to the strength of association between nodes Importance of Consumer Knowledge What we know or don t know strongly influences our decision making process o Amount of information search These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute o How decisions are made o The consideration set Consumer Knowledge Knowledge content o Information consumers have already learned About product types brand names and retailers Based on our personal experiences and sources available Knowledge Structure o How consumers organize information in memory o Use of categories Types of Consumer Knowledge Product knowledge Purchase knowledge Consumption usage knowledge Persuasion knowledge Self knowledge Product Knowledge Levels of product knowledge o Product class category Abstract o Product form o Brand o Model Feature Concrete Product class category knowledge o Product novices possess very simple levels of knowledge o Product experts possess vast amounts of knowledge including particular brands