Choose at least three products you purchased in the last week, month, or year in three different categories: a necessity (a convenience good), big-ticket item (a specialty good), and service. For each of the purchases, analyze the influences that led you to that purchase. Specifically, examine the cultural, family, peer, lifestyle, situational, demographic and personality influences that led you to this purchase.
Why did you buy Tide and not Cheer? Why did you decide to lease a car and why did you choose a Chevy? Why did you decide to purchase education and why this school? These are the types of questions you want to ask yourself. Try to use the theories and concepts discussed in class and/or in the textbook.
Use at least 20 different theories, concepts, and/or terminologies from the list below. Type them in boldface.
Key concepts and terminologies
Segmentation (Geographic, Demographic, Psychographic, Behavior) and targeting
Hedonic value, utilitarian value
Augmented product concept
Price elasticity of demand
Customer lifetime value
Assimilation, accommodation, contrast
Mere exposure effect
Classical conditioning theory
Sensory, short term, long term memory
Homeostasis and self improvement
Maslow’s hierarchy of needs
Cognitive appraisal theory
ID, ego, superego
Karen Horney’s trait theory
Need for cognition
Generalized self confidence
Optimum stimulation level (OSL)
Five Factor Model
Ideal social self
Self congruency theory
Compliance, identification, internalization
Functions of attitude
Fishbein Multi-attribute attitude model
ELM: central route to persuasion and peripheral rout
Appeals: sex, humorous, fear
Groups: primary, secondary, formal, informal, aspirational, dissociative
Conformity and peer pressure
Social powers: referent, legitimated, expert, reward, coercive
Organic and amplified word of mouth
Stealth marketing and ambush marketing
Shopping activities: acquisitional, epistemic, experiential
Utilitarian and hedonic shopping
Unplanned and impulsive shopping
Type of shoppers: economic, personalized, ethical, apathetic, recreational
Routine, limited, and extended decision making
How to recognize needs: dissatisfaction, depletion, comparison, new situation, new product
Consideration, inert, inept sets
Conjunctive, disjunctive, lexicographic decision making rules.
Sacred and profane consumption
Desacralization and sacralization
Types of expectations: predictive, normative, ideal, equitable
Attribution theory: locus, control, stability
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