The 2 different levels of product knowledge
Accretion process and tuning
These can turn into more abstract concept called handling: It is more abstract because it includes more less abstract meanings
4 levels of product knowledge
Which product level is most important to marketers
Brand
3 types of product knowledge
How do consumers think about brands?
They think about product and brands as bundles of attributes (Marketers need to know which attributes are most important, what they mean and how they use this knowledge in cognitive processes)
What are the 2 types of product attributes?
Consumers think about products and brands in terms of consequences. How do you define consequences?
The outcome when a product is purchased and used (ex. with surround sound - service, loud)
2 types of consequences
Consumers also see product and brands as bundles of benefits. How do you define benefits?
Benefits is the desirable consequences consumers seek when buying and using products and brands. Ex. car: Fast acceleration.
What is benefit segmentation?
Assertion that consumers buy for product consequences rather than the product alone. Ex buy toothpaste to get whiter teeth.
What is perceived risks?
And what are the 2 things that influence the perceived risk?
The undesirable consequences consumers wants to avoid
4 types of risks
What are values?
And what will cause a positive and negative affect?
Values are people broad life goals.
Name 3 types of values
How to you identify products in the future?
And what does i do?
By using means-end-chains
4 levels of the means-end-chain
Which level of the means-end-chain uses less abstraction and which uses the most?
Attributes used less abstraction and values uses the most
How do you identify consumers M-E-C?
One-on-one interview: Identifying which product attributes are most important to the consumer
Laddering: A process designed to reveal how consumers links product attributes to more abstract consequences and values
Define the ZMET interview
It elicit metaphors from the consumers to reveal their deep meaning (both cognitive and affective) about a topic Steps: 1. Pre-interview instruction 2. Storytelling 3. Expand the frame 4. Sensory images 5. Vignette 6. Digital image
Define involvement
Consumers perception of importance or personal relevance for an objective
Name 2 factors influencing involvement
Name some aspects of intrinsic self-relevance
It appears through past experience with a product
Brand switchers have low intrinsic self-relevance
(Can be influenced over long time periods)
Name some aspects of situational self-relevance
Activates important consequences and values
Most easily manipulated
(Influenced sales, premiums, pricing, strategies and more)
Name 4 market segments