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Chapter 3: Consumer Theories and Developing a Model

AB
Judgementa balanced weighing up of evidence preparatory to making a decision.
AttitudeAre positive, negative, or neutral views of a person, behavior or event. Attitudes come from judgements. Attitudes are expected to change as a function of experience
ABC ModelAffect, behavioral change, cognition
Affective responsea physiological response that expresses an individual's preference for an entity
Behavioral intentiona verbal indication of the intention of an individual
cognitive responsea cognitive evaluation of the entity to form an attitude.
Theorya organized system of ideas or beliefs that can be measured
Theory CreationExploration, Description, Explanation, Model, Validation
Prospect Theorypeople feel more pain from loss than pleasure from profit
Endowment EffectYou value something higher than it is truly worth
Mental AccountingComplaining about $4/gallon gas, but paying $4 for a shot Dt
Consumer Power ModelConsumers, markets, public policy, consumer organizations, trade associations, media environment, technology, economy



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