Test 3 cheat sheet

Test 3 cheat sheet - Ch 12 Post-decision dissonance –...

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Unformatted text preview: Ch. 12 Post-decision dissonance – likely to occur when more than one alternative is attractive and the decision is important (create anxiety that the consumer would like to reduce) Post-decision regret – consumers perceive an unfavorable comparison between the performance of the chosen option and the performance of the unchosen options Hypothesis testing – form an expectation about a product or service and then set out to test it. Without these hypotheses consumers are less likely to gather the evidence they need to learn. Hypothesis generation – hearing about a new movie an assuming it will be good by who’s in it. Exposure to evidence – going to see the movie. Encoding of evidence – deciding whether or not it is good while watching it. Integration of evidence and prior beliefs – if she likes it, it confirms her hypothesis. If she hates it, it disproves her hypothesis. What affects learning from experience? Motivation – when consumers are motivated to process information, they generate a number of hypotheses and seek out information to confirm or disprove them, actively engaging in the process of learning from experience. Prior knowledge or ability – affects the extent to which they learn from experience. When knowledge is high, consumers are likely to have well-defined beliefs and expectations and are unlikely to generate new hypotheses. Ambiguity of information environment or lack of opportunity – lack of sufficient information to confirm or disprove their hypothesis. This occurs because many offerings are similar in quality and consumers can get little information from the experience. Processing biases – avoid negative and highly diagnostic information. Confirmation bias Overconfidence. Satisfaction – feel that their needs or goals have been met (acceptance, happiness, relief, excitement, delight). Dissatisfaction – negative evaluation of an outcome (tolerance, distress, sadness, regret, etc…) Utilitarian dimensions: how well the product or service functions (good or bad) Hedonic dimensions: how it makes someone feel (happy, excited, regretful, sad, etc…). Disconfirmation – occurs when there is a discrepancy, positive or negative, between our prior expectations and the products actual performance (based more on subjective). Expectations – desired product/service outcomes and include “pre consumption beliefs about overall performance, or the levels or attributes possessed by a product”. Performance – measures whether these expected outcomes have been achieved Objective: based on actual performance (constant across consumers). Subjective: based on individual feelings (varies across consumers). Post-decision feelings – help explain satisfaction or dissatisfaction judgments independent of disconfirmation. Attribution theory – how individuals find explanations or causes for effects or behavior (when a product or service does not fulfill needs, the consumer will attempt to find an explanation) Stability:...
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Test 3 cheat sheet - Ch 12 Post-decision dissonance –...

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