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consumer sentiment
consumer confidence in the present and future markets TERM 2
influences on c.s.?
DEFINITION 2 -recent events -GDP -news -pop culture media TERM 3
c.s. effect on discretionary spending
DEFINITION 3 consumers don't want to spend their money if they think the economy is going to be bad in the future TERM 4
Zillow's research
DEFINITION 4 research on media and entertainment's influence on future economy. findings: pessimistic rumination in the fantasy based material of song lyrics predicts a change in the degree to which americans worry about real world events consumer pessimism therefore predicts decreased personal consumption expenditures, which in turn strong predicts decreased GNP growth TERM 5
consumer information processing
DEFINITION 5 anything that relates to a specific brand or product such as product usage, packaging, in store displays, advertising, publicity and word of mouth
Exposure
the physical presence of the individual at the time and place that the message is presented active: seek information passive: information encountered in pursuit of of other things TERM 7
reception
DEFINITION 7 arousal- activation of central nervous system to process info attention- allocating and focusing of processing capacity to specific bits of information perception- identification and classification of bits of information in the sensory registers TERM 8
active processing
DEFINITION 8 3 parts comprehension - meaning communicated by the message (audience's interpretation of the message evaluation - determination of the believability of the message storage- conversion of information from short-term to long term memory TERM 9
storage
DEFINITION 9 transfer of information from short term to long term memory TERM 10
decision making
DEFINITION 10 reverse of storage... transfer of information from long term to short term memory judgment - determination of the favorability of an alternative
advertising to children
Advertising to Children is unethical Violation of APAs mission o Mitigate human suffering o Improving the condition of both individuals and society o Helping the public develop informed judgments TERM 17
perception
DEFINITION 17 process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world overview of process: sensory registers (short term)--> sensation --> attention (ex. smell, loud nouse in quiet room)--> interpretation (schema) --:> meaning (increased conscious activity) --> response --> perception TERM 18
determinants of consumer behavior
DEFINITION 18 social: culture, social class, age, FLC, lifestyle marketing: products, prices, distribution, communications LEAD TO --> personal factors: needs, personality, perceptions, attitudes, knowledge, experience LEAD TO --> consumer behavior determined by the information available to the consumer at the point of decision making The key to influencing consumers is thus through controlling the information available to them TERM 19
color trends 2010
DEFINITION 19 red: strong with pink intuition, bright and clean with energy orange: rich, sophisticated color yellow: greener, more natural yellow, softened with gray green: optimistic and uplifting blue: saturated blue with grey influence TERM 20
motivation
DEFINITION 20 the driving force within individuals that impels them to action importance: need motivation in order to function
maslow's hierarchy of needs
basic principles: 1-needs are grouped into five categories 2- hierarchical so if one need is present, priority is given to lowest need 3-lowest need must be satisfied to shift to higher need 4-if a lower need is ignored it will command attention TERM 22
maslow's hierarchy of needs pt. 2
DEFINITION 22
- physiological needs 2. safety and security needs 3. social needs 4. ego needs 5. self-actualization needs
