MGMA01H3 Chapter Notes - Chapter 6: Prospect Theory, Brand Equity, Storebrand
Document Summary
Consumer buyer behavior refers to the buying behavior of final consumers --- individuals and households that buy goods and services for personal consumption. Consumer market: all the individuals and households who buy or acquire goods and services for personal consumption. The set of basic value, perception, wants and behaviors learned by a member of society from family and other important institutions. Unconditioned stimulus = meat powder, because natural reaction is drooling. Conditioned stimulus = bell, because dogs learned to drool when bell rang. Conditioned response = drooling in response to the bell. Brand equity: refers to the value added to a product by a brand name because the brand has strong positive association in a consumer"s memory (marlboro) Stimulus generation: tendency for stimuli similar to a conditioned stimulus to evoke similar, conditioned responses. Family branding: many products may capitalize on the reputation of a company name. Look-alike packaging: most frequently used by store-brand products.
