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marketing definitions

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Motivation : An inner state of activation that provides energy needed to achieve a goal.
Motivated reasoning : Processing information in a way that allows consumers to reach the
conclusion that they want to reach.
Felt involvement : The consumer’s experience of being motivated with respect to a product
or service, or decisions and actions about these.
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Needs can be internally or externally activated.
Need satisfaction is dynamic. Needs are never permanently satisfied; satisfaction is
only temporary.
Needs exist in a hierarchy. Although several needs may be activated at any one time,
some assume more importance than others.
Needs can conflict. There are various types of need conflicts.
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Approach-avoidance conflict: An inner struggle about acquiring or consuming an
offering that fulfils one need but fails to fulfil another.
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Approach- approach conflict: An inner struggle about which offering to acquire
when each can satisfy an important but different need.
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Avoidance- avoidance conflict: An inner struggle about which offering to acquire
when neither can satisfy an import ant but different need.
Appraisal theory: A theory of emotion that proposes that emotions are based on an
individual’s assessment of a situation or an outcome and its relevance to his or her goals.
Self-control: Process consumers use to regulate feelings, thoughts, and behavior in line
with long-term goals, rather than to pursue short-term goals.
Ego depletion: Outcome of decision-making effort that results in mental resources being
exhausted.
Embodiment: Connection between mind and body that influences and expresses consumer
self-control and behavior.
Perceived risk: The extent to which the consumer anticipates negative consequences of an
action, for example, buying, using, or disposing of an offering, to emerge and positive
consequences to not emerge.
Ability: The extent to which consumers have the required resources to make an outcome
happen.
Millennial Individuals born between 1980 and about 1994; also known as Generation Y.
Clustering: The grouping of consumers according to common characteristics, such as
demographics and consumption lifestyles, using statistical techniques.
Multicultural marketing: Strategies used to appeal to a variety of cultures at the same time.
Accommodation theory: The more effort one puts forth in trying to communicate with an
ethnic group, the more positive the reaction.
Family life cycle: Different stages of family life, depending on the age of the parents and how
many children are living at home.
Household decision roles: Roles that different members play in a household decision.
▪ Gatekeeper. Household members who collect and control information important to
the decision.
▪ Influencer. Household members who try to express their opinions and influence the
decision.
▪ Decider. The person or persons who actually deter- mine which product or service
will be chosen.
▪ Buyer. The household member who purchases or acquires the product or service.
▪ User. The household members who consume the product.
Instrumental roles - Roles that relate to tasks affecting the buying decision.
Expressive roles - Roles that involve an indication of family norms.
A husband-dominant decision is made primarily by the male head-of-household (e.g., the
purchase of lawn mowers and hardware).
A wife-dominant decision is made primarily by the female head-of-household (e.g.,
children’s clothing, women’s clothing, groceries, and toiletries).
An autonomic decision is equally likely to be made by the husband or the wife, but not by
both (e.g., men’s clothing, luggage, toys and games, sporting equipment, and cameras).
A syncratic decision is made jointly by the husband and wife (e.g., vacations, refrigerators,
TVs, living room furniture, financial planning services, and the family car).
Social class hierarchy: The grouping of members of society according to status, high to low.
Status float: Trends that start in the lower and middle classes and move upward.
Trickle-down effect: Trends that start in the upper classes and then are copied by lower
classes.
Inherited status: Status that derives from parents at birth.
Earned status: Status acquired later in life through achievements.
Status crystallization: When consumers are consistent across indicators of social class
income, education, occupation, etc.
Downward mobility: Losing one’s social standing.
Upward mobility: Raising one’s status level.
Social class fragmentation: The disappearance of class distinctions.
Conspicuous consumption: The acquisition and display of goods and services to show off
one’s status.
Parody display: Status symbols that start in the lower-social classes and move upward.
Fraudulent symbol: Symbol that becomes so widely adopted that it loses its status.
Conspicuous waste: Visibly buying products and services that one never uses.
Voluntary simplicity: Limiting acquisition and consumption to live a less material life.
Status symbol: Product or service that tells others about someone’s social class standing.
Compensatory consumption: The consumer behavior of buying products or services to
offset frustrations or difficulties in life.
Psychographics: A description of consumers based on their psychological and behavioral
characteristics.
Values: Enduring beliefs about abstract outcomes and behaviors that are good or bad, such
as health, independence, family life, and peace.
Value system: Our total set of values and their relative importance.
Global values: A person’s most enduring, strongly held, and abstract values that hold in
many situations.
Terminal values: Highly desired end states such as social recognition and pleasure.
Instrumental values: The values needed to achieve the desired end states such as ambition
and cheerfulness.
Domain-specific values: Values that may only apply to a particular area of activities.
Materialism: Placing a high importance on acquiring and owning material goods and money.
Hedonism: The principle of pleasure seeking.
▪ Individualism versus collectivism. The degree to which a culture focuses on the individuals
rather than the group.
▪ Uncertainty avoidance. The extent to which a culture prefers structured to unstructured
situations.
▪ Masculinity versus femininity. The extent to which a culture stresses masculine values (as
defined by Hofstede) such as assertiveness, success, and competition over feminine values
such as quality of life, warm personal relationships, and caring.
▪ Power distance. The degree to which a society’s members are equal in terms of status.
Marketers can identify groups of consumers who have a common set of values that differ
from those of other groups, a process called value segmentation.
Means-end chain analysis: A technique that can help to explain how values link to attributes
in products and services.
Rokeach Value Survey (RVS): A survey that measures instrumental and terminal values.
List of Values (LOV): A survey instrument that efficiently measures nine principal values
driving consumer behavior.
Personality: General, enduring differences between people in terms of behavior patterns,
feeling, and thinking.
Locus of control: People’s tendency to attribute the cause of events to the self (internal) or
not the self (external, such as others, the situation, or luck).
Dogmatism: A tendency to be resistant to change or new ideas.
Need for uniqueness (NFU): The desire for a unique position and experiences through the
purchase, use, and disposition of products and services.
Need for cognition (NFC): A trait that describes how much people like to think.
National character: The personality of a country.
Lifestyles: People’s patterns of behavior.
Activities, interests, and opinions (AIOs): The three components of lifestyles.
Social influence:
Nonmarketing source: Influence delivered from an entity outside a marketing organization,
for example, friends, family, and the media.
Marketing source: influence delivered from a marketing agent, for example, advertising,
personal selling.
Word of mouth: Influence delivered verbally from one person to another person or group of
people.
Opinion Leader: An individual who acts as an information broker between the mass media
and the opinions and behaviors of an individual or group.
Gatekeeper: A source that controls the flow of information.
Market maven: consumer on whom others rely for information about the market-place in
general.
Associative reference group: A group to which we currently belong.
Brand community: A specialized group of consumers with a structured set of relationships
involving a particular brand, fellow customers of that brand, and the product in use.
Homophily: The over-all similarity among members in the social system.
Primary reference group: Group with whom we have physical face-to-face interaction.
Secondary reference group: Group with whom we do not have direct contact.
Tie-strength: The extent to which a close, intimate relationship connects people.
Embedded market: Market in which the social relationships among buyers and sellers
change the way the market operates.
Consumer socialization: The process by which we learn to become consumers.
Norm: Collective decision about what constitutes appropriate behavior.
Brand-choice congruence: The purchase of the same brand as members of a group.
Conformity: The tendency to behave in an expected way.
Compliance: Doing what the group or social influencer asks.
Reactance: Doing the opposite of what the individual or group wants us to do.
Coercive power: The extent to which the group has the capacity to deliver rewards and
sanctions.
Foot-in-the-door technique: A technique designed to induce compliance by getting an
individual to agree first to a small favor, then to a larger one, and then to an even larger one.
Door-in-the-face technique: A technique designed to induce compliance by first asking an
individual to comply with a very large and possibly outrageous request, followed by a
smaller and more reasonable request.
Even-a-penny-will-help technique: A technique designed to induce compliance by asking
individuals to do a very small favor— one that is so small that it almost does not qualify as a
favor.
Informational influence: The extent to which sources influence consumers simply by
providing information.
Valence: Whether information about something is good (positive valence) or bad (negative
valence).
Viral marketing: Rapid spread of brand/product information among a population of people
stimulated by brands.
Perception and attention:
Dimensionality of size: people have an easier time when stimuli change on one dimension
(not 3D)
Exposure: The process by which the consumer comes in physical contact with a stimulus.
Marketing stimuli: Information about commercial offerings communicated either by the
marketer (such as ads) or by nonmarketing sources (such as word-of-mouth).
Zipping: Fast-for-warding through commercials on a program recorded earlier.
Zapping: Use of a remote control to switch channels during commercial breaks.
Attention: The amount of mental activity a consumer devotes to a stimulus.
Pre-attentive processing: The non- conscious processing of stimuli, such as in peripheral
vision.
Prominence: intensity of stimuli that causes them to stand out relative to the environment.
Concreteness: the extent to which a stimulus is capable of being imagined.
Habituation: The process by which a stimulus loses its attention-getting abilities by virtue of
its familiarity.
Perception: The process of determining the properties of stimuli using vision, hearing, taste,
smell, and touch.
Absolute threshold: The minimal level of stimulus intensity needed to detect a stimulus.
Differential threshold/just noticeable difference (jnd): The intensity difference needed
between two stimuli before they are perceived to be different.
Weber’s law: The stronger the initial stimulus, the greater the additional intensity needed
for the second stimulus to be perceived as different.
Subliminal perception: The activation of sensory receptors by stimuli presented below the
perceptual threshold.
Perceptual organization: The process by which stimuli are organized into meaningful units.
Figure and ground: The principle that people interpret stimuli in the context of a
background.
Closure: The principle that individuals have a need to organize perceptions so that they form
a meaningful whole.
Grouping: The tendency to group stimuli to form a unified picture or impression.
Preference for the whole: The tendency to perceive more value in a whole than in the
combined parts that make up a whole, even if the parts have the same objective value as the
whole.
Comprehension: The process of extracting higher-order meaning from what we have
perceived in the context of what we already know.
Source identification: The process of determining what the perceived stimulus actually is,
that is, what category it belongs to.
Objective comprehension: The extent to which consumers accurately understand the
message a sender intended to communicate.
Subjective comprehension: What the consumer understands from the message, regardless
of whether this understanding is accurate.
Perceptual fluency: The ease with which information is processed.
Knowledge and memory:
Principles of long-term memory:
• Unlimited duration
• Unlimited capacity
• Efficient organization
Consumer memory: The persistence of learning over time, via the storage and retrieval of
information, either consciously or unconsciously.
Retrieval: The process of remembering or accessing what was previously stored in memory.
Sensory memory: Input from the five senses stored temporarily in memory.
Working memory (WM): The portion of memory where incoming information is encoded or
interpreted in the context of existing knowledge, and kept available for more processing.
Long-term memory (LTM): The part of memory where information is permanently stored for
later use.
Episodic (autobiographical) memory: Knowledge we have about ourselves and our personal,
past experiences.
Semantic memory: General knowledge about an entity, detached from specific episodes.
Explicit memory: When consumers are consciously aware that they remember something.
Implicit memory: Memory without a conscious attempt at remembering something. Implicit
memory is evidenced when a process that requires memory is executed faster or more
accurately.
Recognition: The process of identifying whether we have previously encountered a stimulus
when re-exposed to the stimulus.
Recall: The ability to retrieve information about a stimulus from memory without being reexposed to the stimulus again.
Elaboration: transferring information into long-term memory by processing it at deeper
levels.
Schema: The set of associations linked to a concept in memory.
Spreading of activation: The process by which retrieving a concept or association spreads to
the retrieval of a related concept or association.
Priming: The increased sensitivity to certain concepts and associations due to prior
experience based on implicit memory.
Brand image: Specific type of schema that captures what a brand stands for and how
favorably it is viewed.
Brand personality: The set of associations included in a schema that reflect a brand’s
personification.
Script: A special type of schema that represents knowledge of the sequence of actions
involved in performing an activity.
Brand extension: Using the brand name of a product with a well-developed image on a
product in a different category.
Taxonomic category: How consumers classify a group of objects in memory in an orderly,
often hierarchical way, based on their similarity to one another.
Prototype: The best example of a cognitive (mental) category.
Prototypicality: the extent to which an object is representative of its category.
Goal-derived category: Things viewed as belonging in the same category because they serve
the same goals.
Construal level theory: Theory describing the different levels of abstractness in the
associations that a consumer has about things (products, brands, people, and activities) and
how the consumer’s psychological distance influences the abstractness of the associations
(far = abstract; close = concrete) and his or her behavior.
Decay: The weakening of memory strength over time.
Interference: When the strength of a memory deteriorates over time because of competing
memories.
Primacy and recency effect: The tendency to show greater memory for information that
comes first or last in a sequence.
Retrieval cue: A stimulus that facilitates the activation of memory.
Attitudes:
Attitudes are stable if the three components are aligned!
• Inconsistency “feels bad” (towards oneself and others) => Cognitive Dissonance Theory
(Festinger)
Affect: Subjective feeling states and moods
Integral affect: Affective responses toward an object, elicited by features of the object
(“Product X makes me ...”)
Incidental affect: Affective experience whose source is unconnected to the object and may
be due to:
• Mood
• Contextual Stimuli
How does incidental affect influence our attitudes?
“Feeling-as-information” account: People inspect their concurrent feelings to infer their
attitude towards a target object.
Evaluative Conditioning: Transfer of affect from affective experience to object.
Cognition: Thoughts and beliefs about an object.
Belief: Subjective judgment about object/attribute relationship.
“Milk is good for your health” or “Milk is fatty”
Beliefs = Strength of relation between object and attribute.
Attitude: A relatively global and enduring evaluation of an object, issue, person, or action.
Cognitive function: How attitudes influence our thoughts.
Affective function: Katz’ notion that our feelings influence our attitudes.
Connative function: How attitudes influence our behavior.
Favorability: The degree to which we like or dislike something.
Attitude accessibility: How easily an attitude can be remembered.
Attitude confidence: How strongly we hold an attitude.
Attitude persistence: How long our attitude lasts.
Attitude resistance: How difficult it is to change an attitude.
Ambivalence: When our evaluations regarding a brand are mixed (both positive and
negative).
Central-route processing: The attitude formation and change process when effort is high.
Peripheral-route processing: The attitude formation and change process when effort is low.
Cognitive response: Thought we have in response to a communication.
Counterargument (CA): Thought that disagrees with the message.
Support argument (SA): Thought that agrees with the message.
Source derogation (SD): Thought that discounts or attacks the source of the message.
Belief discrepancy: When a message is different from what consumers believe.
Expectancy-value model: A widely used model that explains how attitudes form and change.
Theory of reasoned action (TORA): A model that provides an explanation of how, when, and
why attitudes predict behavior.
Behavior (B) What we do.
Behavioral intention (BI) What we intend to do.
Attitude toward the act (Aact): How we feel about doing something.
Subjective norm (SN): How others feel about our doing something.
Normative influence How other people influence our behavior through social pressure.
Theory of planned behavior: An extension of the TORA model that predicts behaviors over
which consumers perceive they have control.
Credibility: Extent to which the source is trustworthy, expert, or has status.
Sleeper effect: Consumers forget the source of a message more quickly than they forget the
message.
Strong argument: A presentation that features the best or central merits of an offering in a
convincing manner.
One-sided message: A marketing message that presents only positive information.
Two-sided message: A marketing message that presents both positive and negative
information.
Comparative message: A message that makes direct comparisons with competitors.
Affective response: When consumers generate feelings and images in response to a
message.
Emotional appeal: A message designed to elicit an emotional response.
Attractiveness: A source characteristic that evokes favorable attitudes if a source is physically
attractive, likable, familiar, or similar to ourselves.
Match-up hypothesis: Idea that the source must be appropriate for the product/service.
Fear appeal: A message that stresses negative consequences.
Terror management theory (TMT): A theory which deals with how we cope with the threat
of death by defending our world view of values and beliefs.
Attitude toward the ad (Aad): Whether the consumer likes or dislikes an ad.
Utilitarian (or functional) dimension: When an ad provides information.
Hedonic dimension: When an ad creates positive or negative feelings.
Peripheral route to persuasion: Aspects other than key message arguments that are used to
influence attitudes.
Peripheral cues: Easily processed aspects of a message, such as music, an attractive source,
picture, or humor.
Thin-slice judgments: Evaluations made after very brief observations.
Simple inferences: Beliefs based on peripheral cues.
Heuristics: Simple rules of thumb that are used to make judgments.
Frequency heuristic: Belief based simply on the number of supporting arguments or amount
of repetition.
Truth effect: When consumers believe a statement simply because it has been repeated a
number of times.
Self-referencing: Relating a message to one’s own experience or self-image.
Mystery ad: An ad in which the brand is not identified until the end of the message.
More exposure effect: When familiarity leads to a consumer’s liking an object.
Incidental learning: Learning that occurs from repetition rather than from conscious
processing.
Wear-out: Becoming bored with a stimulus.
Classical conditioning: Producing a response to a stimulus by repeatedly pairing it with
another stimulus that automatically produces this response.
Evaluative conditioning: A special case of classical conditioning, producing an affective
response by repeatedly pairing a neutral conditioned stimulus with an emotionally charged
unconditioned stimulus.
Dual-mediation hypothesis: Explains how attitudes toward the ad influence brand attitudes.
Dramas: Ads with characters, a plot, and a story.
Transformational advertising: Ads that try to increase emotional involvement with the
product or service.
Motivation:
Performance = Motivation X Ability X Opportunity
Need -> Motivation (Goal) -> Behavior -> Satisfaction or Dissatisfaction
Instrumentality: perception of the ability of the means to achieve the goal (because of
product features, past experience, etc.)
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Brands that have “laddered-up” and thus connect with broad values and goals often
can be extended successfully to other categories that serve the same goal.
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Brands that have not “laddered-up” remain tied to their functional benefits may only
succeed with extensions to related categories.
Enduring involvement: Long-term interest in an offering, activity, or decision.
Situational (temporary) involvement: Temporary interest in an offering, activity, or decision,
often caused by situational circumstances.
Cognitive involvement: Interest in thinking about and learning information pertinent to an
offering, an activity, or decisions.
Affective involvement: Interest in expending emotional energy and evoking deep feelings
about an offering, an activity, or a decision.
Response involvement: Interest in certain decisions and behaviors.
Personal relevance: Something that has a direct bearing on the self and has potentially
significant consequences or implications for our lives.
Self-concept: Our mental view of who we are.
Values: Abstract, enduring beliefs about what is right/wrong, important, or good/bad.
Need: An internal state of tension experienced when there is a discrepancy between the
current and an ideal or desired physical or psychological state.
Functional need: Need that motivates the search for offerings that solve consumptionrelated problems.
Symbolic need: Need that relates to the meaning of our consumption behaviors to ourselves
and to others. That is, how we perceive ourselves, how we are perceived by others, how we
relate to others, and the esteem in which we are held by others.
Hedonic need: Need that relates to sensory pleasure.
Judgement and Decision making:
Problem recognition: The perceived difference between an actual and an ideal state.
Ideal state: The way we want things to be.
Actual state: Current state; the way things actually are.
Internal search: The process of recalling stored information from memory.
Consideration (or evoked set): The subset of top-of-mind brands evaluated when making a
choice.
Diagnostic information: That which helps us discriminate among objects.
Salient attribute: Attribute that is “top of mind” or more important.
Attribute determinance: Attribute that is both salient and diagnostic.
Online processing: When a consumer is actively evaluating a brand as he/she views an ad for
it.
Inhibition: The recall of one attribute inhibiting the recall of another.
Confirmation bias: Tendency to recall information that reinforces or confirms our overall
beliefs rather than contradicting them, thereby making our judgment or decision more
positive than it should be.
Ongoing search: A search that occurs regularly, regardless of whether the consumer is
making a choice.
External search: The process of collecting information from outside sources, for example,
magazines, dealers, and ads.
Prepurchase search: A search for information that aids a specific acquisition decision.
Judgment: Evaluation of an object or estimate of likelihood of an outcome or event.
Anchoring and adjustment process: Starting with an initial evaluation and adjusting it with
additional information.
Judgment of goodness/badness: Evaluating the desirability of something.
Imagery: Multi-sensory mental representation (image) of a stimulus or an event.
Mental accounting: Categorizing spending and saving decisions into “accounts” mentally
designated for specific consumption transactions, goals, or situations.
Emotional accounting: The intensity of positive or negative feelings associated with each
mental “account” for saving or spending.
Inept set: Options that are unacceptable when making a decision.
Inert set: Options toward which consumers are indifferent.
Attraction effect: When the addition of an inferior brand to a consideration set increases the
attractiveness of the dominant brand.
Decision framing: The initial reference point or anchor in the decision process.
Cognitive decision-making model: The process by which consumers combine items of
information about attributes to reach a decision.
Affective decision-making model: The process by which consumers base their decision on
feelings and emotions.
Compensatory model: A mental cost-benefit analysis model in which negative features can
be compensated for by positive ones.
Non-compensatory model: A simple decision model in which negative information leads to
rejection of the option.
Cutoff level: For each attribute, the point at which a brand is rejected with a noncompensatory model.
Brand processing: Evaluating one brand at a time.
Multi-attribute expectancy-value model: A type of brand-based compensatory model.
Conjunctive model: A non-compensatory model that sets minimum cut-offs to reject “bad”
options.
Disjunctive model: A non-compensatory model that sets acceptable cut-offs to find options
that are “good.”
Attribute processing: Comparing brands, one attribute at a time.
Additive difference model: Compensatory model in which brands are compared by
attribute, two brands at a time.
Lexicographic model: A non-compensatory model that compares brands by attributes, one
at a time in order of importance.
Endowment effect: When ownership increases the value of an item.
Affective forecasting: A prediction of how you will feel in the future.
Noncomparable decision: The process of making a decision about products or services from
different categories.
Alternative-based strategy: Making a noncomparable choice based on an overall evaluation.
Attribute-based strategy: Making a noncomparable choice by making abstract
representations of comparable attributes.
Extremeness aversion: Options that are extreme on some attributes are less
attractive than those with a moderate level of those attributes.
Compromise effect: When a brand gains share because it is an intermediate rather than an
extreme option.
Attribute balancing: Picking a brand because it scores equally well on certain attributes
rather than faring unequally on these attributes.
Metacognitive experiences: How the information is processed beyond the content of the
decision.
Base-rate information: How often an event really occurs on average.
Representativeness heuristic: Making a judgment by simply comparing a stimulus with the
category prototype or exemplar.
Law of small numbers: The expectation that information obtained from a small number of
people represents the larger population.
Availability heuristic: Basing judgments on events that are easier to recall.
Traditional hierarchy: of effects Sequential steps used in decision-making involving thinking,
then feeling, then behavior.
Low-effort hierarchy of effects: Sequence of thinking-behaving-feeling.
Satisfice: Finding a brand that satisfies a need even though the brand may not be the best
brand.
Choice tactics: Simple rules of thumb used to make low-effort decisions.
Operant conditioning: A process of learning drive by the use of rewards to reinforce desired
behavior and punishment to discourage objectionable behavior.
Performance-related tactics: Tactics based on benefits, features, or evaluations of the
brand.
Shaping: Leading consumers through a series of steps to create a desired response.
Zone of acceptance: The acceptable range of prices for any purchase decision.
Price-related tactics Simplifying decision heuristics that are based on price.
Deal-prone consumer: A consumer who is more likely to be influenced by price.
Normative choice: tactics Low-elaboration decision-making that is based on others’
opinions.
Affect: Low-level feelings.
Affect-related tactics: Tactics based on feelings.
Affect referral: A simple type of affective tactic whereby we simply remember our feelings
for the product or service.
Co-branding: An arrangement by which the two brands form a partnership to benefit from
the power of both.
Unity: When all the visual parts of a design fit together.
Optimal stimulation level (OSL): The level of arousal that is most comfortable for an
individual.
Sensation seeker: A consumer who actively looks for variety.
Vicarious exploration: Seeking information simply for stimulation.
Satisfaction:
Post-decision dissonance: A feeling of discomfort about whether or not the correct decision
was made.
Post-decision regret: The negative feeling that one should have made another purchase,
consumption, or disposition decision than one actually did.
Encoding of evidence: Processing the information that one experiences.
Integration of evidence: Combining new information with stored knowledge.
Ambiguity of information: When there is not enough information from the consumption
experience to confirm or disprove one’s hypotheses.
Top dog: A market leader or brand with a large or the largest market share.
Underdog: A lower- share brand that is perceived to be doing well in spite of the odds
against it.
Disconfirmation: When expectations do not match the actual brand, product or service
performance, because performance is either better or worse than expected.
Expectation: Belief (hypothesis) about the performance of a brand, product, or service.
Performance: The extent to which the product/service does what it is supposed to do and
fulfills consumers’ needs.
Attribution theory: A theory of how individuals find explanations for events.
Fairness in the exchange: The perception that the inputs and outputs of people involved in
an exchange are equal.
Equity theory: A theory about the fairness of exchanges between individuals, which helps in
understanding consumer satisfaction and dissatisfaction.
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