MRKT 3512 NOTES CHAPTER 5 (AFTER EXAM 1)

A process that evolves and changes as consumers acquire knowledge from experience, observation, and interactions with others and newly acquired knowledge affects the future behavior

Intentional Learning vs. Incidental Learning

Motives, Cues, responses, reinforcement

Classical conditioning, instrumental conditioning, behavioral learning

Concerned with the inputs and outcomes of learning

• Associative learning

• Need for repetition

• Advertising wear-out

• Three-hit theory

Responding the same way to slightly different stimuli

• Product line extensions

• Product form extensions

• Family branding

• Licensing

Distinctly and exclusively extracted what is most relevant amongst consumers (thickness of yogurt, product material, etc)

Learning occurs through a trial and error process with habits formed as a result of rewards received for certain responses or behaviors

The process through which individuals learn behavior by observing the behavior of others and the consequence of such behavior

Consist of mental processing of data rather than instinctive responses to stimuli

Storing Information, Rehearsal and Retention

• Sensory Store

• Short term storage

• Long term storage

• Encoding

• Information Retrieval

• Chunking

• Retrieval

Systematic evaluation of information and alternatives needed to solve a recognize but unfilled need or unsolved problem

Consists of instinctive responses to stimuli, cognitive learning involves deliberate mental processing of information

• Risk aversion / variety seeking

• Brand reputation / substitute availability

• Social Influence

The intrinsic value of a brand name. Stems from the foundations of brand loyalty: The consumers perception of the brands superiority, the social esteem that using it provides, and the customers trust and identification with the brand