Consumer Behavior and Advertising Strategies

A customer-centric approach acknowledging that not all customers are the same, leading to targeted strategies for different segments.

A situation where the brand name of a product is less prominent than the individual product or service it represents.

A decision-making process where the consumer considers multiple options and their attributes, assigning weights to each attribute based on their importance. Poor performance in one attribute can be compensated by better performance in another.

A decision-making process where consumers evaluate options sequentially, starting with the most important attribute. If one option scores highest on that attribute, it's chosen even with lower scores on other attributes.

A simplified decision-making process where consumers assign equal importance to all attributes. This involves comparing specific attributes across different options.

The idea that products can be marketed based on their higher-level emotional, social, and symbolic benefits to consumers, rather than just their functional features.

The process of making decisions based on logic, facts, and calculations, aiming for the optimal outcome.

The way people make decisions influenced by emotions, biases, and subconscious factors, often leading to unpredictable results.

A marketing strategy that uses the social influence of others to persuade potential customers. This often involves highlighting testimonials, popularity, or the number of people who use or recommend a product.

A strategy used by companies to create a distinct and recognizable image for their products or brand. This often involves creating a unique positioning, messaging, and branding.

Products that are sold under the name of the retailer, rather than a specific brand. These products often compete with branded products by offering a similar quality at a lower price.

The tendency for companies to focus on the functional benefits of their products, such as quality, features, and price, without considering the deeper needs and aspirations of consumers.

The ability to create a positive image and strong recognition for your brand in the minds of potential customers.

The extent to which a brand's associations are distinct and memorable, making it stand out from competitors.

The ability of a brand to generate a strong, positive emotional response and favorable feelings in consumers.

Advertising that aims to increase overall demand for a product category, such as promoting the benefits of using a specific type of product.

Advertising that focuses on increasing the demand for a specific brand within a product category, aiming to gain market share.

Ads that capture attention and encourage consumers to actively engage with them, often through unexpected or creative approaches.

The feeling of discomfort or loss associated with spending money, experienced by some individuals more than others.

A decision-making approach that includes the expected emotional response to an action, but also recognizes the immediate emotions felt at the time of choice.

Individuals who experience a greater discomfort when spending money, often choosing to save or avoid purchases.

Individuals who experience less discomfort when spending money, often more likely to make purchases and spend freely.

Information overload can lead to a scarcity of attention. We need to distribute our limited attention effectively among the abundance of information sources vying for it.

A marketing strategy that divides customers into distinct groups based on shared characteristics to provide personalized experiences and target messaging.

The difference in cost between products marketed to men and products marketed to women, where women often pay more for similar products.

A phenomenon where companies might pay men less than women for similar roles, even with comparable qualifications, due to biased assumptions.

The concept of analyzing different groups to determine if they're truly equivalent before drawing conclusions about differences.

The bias where societal judgments are based on group affiliations rather than individual merit, which can lead to systematic disadvantages.

A decision-making model that considers all possible outcomes in the face of uncertainty to make the most rational choice based on expected value and probability.