Exam 2: Contemporary Perspectives on Consumption

Which of the following themes focuses on how consumption experiences are influenced by the institutions and social structures in our lives?

Which of the following themes focuses on consumers seeking to develop themselves through their consumption behavior?

Exchange value is

List and describe the four key themes of consumer culture theory. What insights can marketers derive from them?

The _______ aspects of consumption involve the experience of sensations that enter a consumer's consciousness through one of the five senses.

The endowment effect is the tendency for individuals to value the things that

_______ is the phenomenon whereby which exposure to a stimulus alters an individual's response without their conscious awareness.

Define consumer culture theory.

_______ is the tendency of individuals to dislike losses more than gains of an equivalent amount.

Define experiential marketing. Define the two important aspects of experiential marketing? Provide an example of each.

The behavioral economics perspective recognizes that different contexts of consumption will result in _______ behaviors.

The set of informal rules that a society imposes to guide individual behavior are called

_______ innovations are small, incremental improvements in products that tend to create very few changes to consumption patterns?

Social media offers opportunities to connect and to enhance the consumer's relationship with a brand by

How can behavioral economics be used to improve our understanding of consumer behavior? Identify and define the seven concepts that derive from behavioral economics. For each one, describe how a marketing manager might utilize this concept.

What is experiential marketing and how is it different from other conceptualizations of consumption? Explain the sensory and the hedonic aspects of experiential consumption. Identify and describe the four key stages in the consumption of an experience.

Nudging happens when subtle cues are used to help consumers make choices that are

The power of _______ is one of the most important contemporary topics in consumer behavior.

Providing healthy options that are easily available in school cafeterias and making unhealthy options less available will nudge students to

_______ refers to how new innovations are accepted and spread throughout a group of consumers.