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Acceptable risk: The level of risk that a consumer will tolerate when
purchasing a product or service.
Affect and CS/D: The concept that the level of consumer satisfaction
is influenced by the positive and negative affective responses elicited
by a product after its purchase and during use.
Baby bust: A period after 1964 when fertility rates plunged far below
the replacement level, resulting in fewer children being born in the
United States.
Butterfly curve: The curve showing that the preference for a stimulus
is at its greatest level at points just higher or lower than the adaptation
level.
Central cues: Those ideas and supporting data that bear directly on
the quality of the arguments developed in the message.
Consumption purpose: The reason for using a product. That is, some
products can be used for multiple purposes. Thus, baking soda can be
used as an antacid, to make bread rise, and to reduce odors.
Contrast effects: Occur when the attitude statement falls into the
latitude of rejection, so that it is perceived as more opposed to the
receiver's position than perhaps it really is.
Demand curve shift: The shift of the demand curve to the right or
left.
East Asia: Composed of Japan, Korea, China, and Southeast Asia, the
region has over 26% of the world's population and is the dominant
exporter of automobiles, electronics, and computer chips.
Economic cycle: The cycle that traces the flow of an economy. It has
four phases–peak, recession, trough, and recovery.
Economic environment: The set of factors involving monetary,
natural, and human resources that influence the behavior of
individuals and groups.
Equity: Occurs when the ratio of the outcomes and inputs is perceived
by one party to an exchange to equal the ratio of the outcomes and
inputs of the other party to the exchange.
Equity theory: Holds that people will analyze the ratio of their
outcomes and inputs to the ratio of the outcomes and inputs of the
partner in an exchange.
Ethical exchange: Occurs when both parties know the full nature of
the agreement, neither party intentionally misrepresents or omits
relevant information, and neither party unduly influences the other
through the use of power.
Evoked set: Consists of those brands and products recalled from long-
term memory that are acceptable for further consideration.
Gravitational model: The concept that trading areas act like planets,
attracting outside shoppers in proportion to the relative populations of
the towns in question and to the square of the inverse of the distance
between the towns.
Group: A set of individuals who interact with one another over some
period of time and who share some common need or goal.
Halo effect: The concept that positive or negative feelings about one
characteristic will generalize to influence feelings about other, possibly
unrelated, characteristics.
Inept set: Consists of the brands and products that are considered
unacceptable.
Inert set: Consists of the brands and products to which consumers are
essentially indifferent.
Instrumental role: Within a group, the role filled by the person who
deals with the problem of getting the group to achieve certain goals
and complete certain tasks.
Internal search: The first phase of the search process, in which the
consumer attempts to retrieve from long-term memory information on
products or services that will help to solve a problem.
Lifestyle: How people live, how they spend their money, and how
they allocate their time. It is concerned with consumers’ overt actions
and behavior. (p. 220)
Life themes: They represent critical values and goals that influence
consumers at different stages of their lives.
Mortality rate: The number of people per 1,000 who die per year.
Pacific Rim: The countries that are situated on the Pacific Ocean.
Primacy effect: It occurs when material early in the message has the
most influence. (versus material at the end of he message).
Product use: It involves the actions and experiences that take place
in the time period in which a consumer is directly a good or service.
Quiet Set: Retail stores that consumers enter, but have no intention
of purchasing a product from.
Role overload: A state of conflict that occurs when the sheer volume
of behavior demanded by the positions in a person's position set
exceeds available time and energy.
Sensory memory: The extremely brief memories that result from the
firing of nerve fibers in a person's brain.
Serial learning: The process of how people place into memory and
recall information received in a sequential manner.
Social class hierarchy: The ordering of the social classes from lower
to higher.
Social learning: The theory proposing that people will observe the
actions of others to develop patterns of behavior.
Substitute activities: Activities that satisfy the same need for the
consumer and are mutually exclusive (they cannot take place
together).
Underprivileged: The people within a given social class who have low
incomes relative to other members of that social class.
Values: Enduring beliefs about ideal end states and modes of conduct.
They dictate what is good, right and appropriate in behavior.