Final exam notes.docx

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Department
Management (MGM)
Course
MGMC02H3
Professor
Bill Mc Conkey
Semester
Summer

Description
CHAPTER 7 (171 to 191) Consumer memory: a personal storehouse of knowledge about products and services, shopping, and consumption experiences. Retrieval: the process of remembering or accessing what we have stored in memory. Can be recognized or recalled Memory...affects whether and how we categorize objects. Attitudes are part of our memory they represent stored summary evaluations of objects. We can and often recall attitudes when we make decisions. Three types of memory: sensory memory (echoic and iconic memory), short-term memory (imagery and discursive processing), and long-term memory (autobiographical and semantic memory). Sensory memory: sensory experiences stored temporarily in memory. Uses a short-term storage area called the sensory store; operates automatically, and if we quickly switch our attention to our sensory store, we may be able to interpret what is in it. Echoic memory: very brief memory for things we hear Iconic memory: very brief memory for things we see Information in sensory memory is stored in its actual sensory form; also short-lived, generally lasting from a quarter of a second to several seconds. If the info is relevant, we will be motivated to process it further, and it may enter what is called SHORT-TERM memory. If we do not analyze that info, it is lost. STM: the portion of memory where incoming info is encoded or interpreted in light of existing knowledge. This is where most of our info-processing takes place. It can be hurt when we are distracted by other info Discursive processing: the processing of info as words. Imagery processing: the processing of info in sensory form. Representing the visual, auditory, tactile, gustatory, and/or olfactory properties of an apple. (Visually or its smell, feel, taste, sound). The object in imagery processing bears a close resemblance to the thing being represented Info represented as words or images can be elaborated. When MAO is low, STM might consist of a simple reproduction of the object. When MAO is high, consumers can use elaborated imagery processing to engage in daydreams, plans, etc. CHARACTERISTICS OF STM: LIMITED and SHORT-LIVED. Limited = we can only hold a certain number of things in STM at a time. Short-lived = unless its transferred to LTM. Unless we actively try to remember info, it will be lost. STM, especially imagery processing, has FOUR key implications for marketers: 1. It can affect product liking or choice. What we choose may be greatly influenced by what we imagine it will be like; we value some of the products we buy because of the imagery they provide. Consumers who immerse themselves in thoughts of using a product or having an experience similar to one simulated in an ad will tend to have positive attitudes toward the ad and the product. Thus, a products ability to stimulate multisensory imagery might affect how much we like/dislike that product 2. It can stimulate memories of past experiences: we value things that helps us re- experience a past consumption experience; reliving the event. 3. It can affect how much info we can process: adding more info can hurt discursive processing by creating information overload. However, adding info can help imagery processing because the additional info can help us flesh out the image. (Like zoom in features) 4. It can affect how satisfied we are with a product or consumption experience: we may create an elaborate image or fantasy of what the product or consumption experience will be like only to find it does not materialize in the way that we had imagined. If reality does not confirm our imagery, we may feel dissatisfied. Realizing this possibility, marketers help consumers establish realistic imagery LONG-TERM MEMORY (LTM): Part of memory where info is permanently stored for later use. Autobiographical or episodic memory: knowledge we have about ourselves and our personal experiences (past), as well as emotions and sensations tied to these experiences. These memories tend to be primarily sensory, mainly involving visual images, may also include sounds, smells, tastes, and tactile sensations. We may have autobiographical memories that relate to product acquisition, consumption, or disposition. Each individual has a unique set of experiences, so autobiographical memory tends to be very personal and idiosyncratic. Semantic memory: Stored in memory not related to specific experiences; not tied to any particular brand, etc. General knowledge about an entity, detached from specific episodes. Semantic memory regarding numbers can influence our perception of prices and our intention to buy Much of the knowledge we have stored in cognitive categories reflects semantic memory. Consumer-related memories can influence how products/services are evaluated. Memories can affect our future choices. Autobiographical memories can play a role in creating identification with characters or situations in ads. Consumers value some products because they promote autobiographical memories by creating feelings of nostalgia (a fondness for the past). Advertising can even affect autobiographical memories, consumers reinterpret memories; consumer remembers past experiences differently How memory is enhanced...(increasing likelihood that info will be transferred to LTM) Chunking: grouping items that can be processed as a unit (3 to 7 chunks of info, or 3 or 4) Rehearsal: the process of actively reviewing material in an attempt to remember it. We actively and consciously interact with the material we are trying to remember; likely to occur only when consumers are motivated to process and remember info (studying) Recirculation: the process by which info is remembered via simple repetition without active rehearsal. No active attempt to remember the info; if we do remember, it is because the info has passed through our brain so many times (seeing things often). Brand recall is greater when info is repeated at different times rather than when it is presented over and over at once. Elaboration: if info is processed at deeper levels, or elaborated. More enduring memory is established when we try to relate info to prior knowledge and past experiences. Transferring info into LTM by ^ Brand names with acronyms = chunking in a marketing context; or telephone numbers in words; chunking separate pieces of info into a single attribute or benefit Rehearsal = when motivation is low, marketers may use tactics like jingles, sounds, and slogans to perpetuate rehearsal. Not good if price is rehearsed highlighted in the memory Recirculation = repetition affects memory particularly in low-involvement situations. Strengthen effect of recirculation by creating different ads bearing the same basic message. Expose consumers to it on many occasions. Communications repeat the brand name frequently to produce better brand name memory. Planning spaced exposures by alternating messages in involving media like TV commercials and less involving media like billboards can be highly effective. Repetition may confuse consumers if brand repeatedly advertises product claims similar to competitors claims Elaboration = Unexpected or novel stimuli can attract attention and induce elaboration. People who pay more attention to a particular TV program and think about it are more likely to remember its commercials. Older people = less ability to elaborate on info from marketing messages because STM is more limited. Children elaborate less because they have less knowledge. What is retrieval? Semantic or associative network: a set of associations in memory that are linked to a concept. This is the organization of LTM. Links can be strong, medium, or weak. Concepts connected by strong links are more likely to activate each other than those connected by weak links (ex: St. Moritz ski trip). Some links are strong because they have been rehearsed, recirculated, chunked, and elaborated extensively. Others are weak because they have been encountered infrequently, have not been accessed in a long time, or have been processed on a very limited basis. The semantic network...we have a lot of info in our memory, but we are only able to retrieve or access some of it at any given time. TWO FACTORS about the semantic network affect what we remember... Trace strength: the extent to which an association or link is strongly or weakly linked to a concept in memory Accessible: the extent to which an association or link is retrievable from memory
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