MARK2051 Lecture Notes - Lecture 6: Concept Learning, Reinforcement, Operant Conditioning
Lecture 6: Preference Formation (Learning & Memory)
Preference Formation
Lecture 5 argued that preferences are constructed via information search and
evaluation. However, some preferences are not constructed due to:
• Preference construction is costly in terms of information search and
processing effort
• Some basic preferences are hard-wired (e.g. pleasure over pain)
• Stable preferences fix the stimulus-response relation and remove the
intervening information processing phase
High familiarity: Familiarity effect causes stable preferences to be formed when
there is high familiarity
• Reduces influence of contingent valuation variables
• Reduces amount of search
• Reduces evaluation
A goal in marketing is to instil strong and stable preferences of YOUR brand
products and services in consumers.
Change in familiarity:
• Results from repeated exposure and interaction with product attributes
(outcomes and feedback effect shape preferences)
• Leads to a relatively permanent change in behaviour
• This process is called preference formation
Learning
Learning: process by which consumers get from a low to high state of familiarity
with product attributes
• Relatively permanent change in behaviour or behavioural potential that
occurs as a result of practice or experience
o Relatively permanent: not behavioural changes from fatigue or
motivational changes
o From experience: not anything which results from maturation
o Behavioural potential: some conditions may prevent behaviour but not
learning
• Learning is inferred from behaviour but is not behaviour itself (Tolman &
Honzik) à even though it may be irrelevant at the moment, you are still
learning, Thus, when it does become relevant, you already know it.
• Behaviourist school of thought (learns to)
• Cognitivist school of thought (learns that)
Document Summary
Lecture 5 argued that preferences are constructed via information search and evaluation. High familiarity: familiarity effect causes stable preferences to be formed when there is high familiarity: reduces influence of contingent valuation variables, reduces amount of search, reduces evaluation. A goal in marketing is to instil strong and stable preferences of your brand products and services in consumers. Change in familiarity: results from repeated exposure and interaction with product attributes (outcomes and feedback effect shape preferences, leads to a relatively permanent change in behaviour, this process is called preference formation. Honzik) even though it may be irrelevant at the moment, you are still learning, thus, when it does become relevant, you already know it: behaviourist school of thought (learns to, cognitivist school of thought (learns that) Association: the relation of stimuli whether in the environment or in the consumer"s mind (based on the temporal and spatial co-occurrence of stimuli).
