6Types of Product Knowledge Bundle of AttributesConsequencesValues
7Types of Product Knowledge Bundle of AttributesStyleAbstractNike running shoesComfortAbstract$169.94ConcreteAir LockConcrete
8Types of Product Knowledge Bundle of Benefits“I will look cool”PsychosocialNike running shoes“run longer”FunctionalBenefits: Anticipated positive consequencesRisks: Potential negative consequences; functional, financial, psychosocial, physical risks.
9Types of Product Knowledge Values: Broad goals in life Be physically fitNike running shoesHave good healthLive a long life
10Types of Values Instrumental Values Preferred modes of conduct or ways of behavingTerminal ValuesPreferred states of being or broad psychological states
11Instrumental Values &Terminal Values Ex. Competenceambitious (hard-working)independent (self-reliant)imaginative (creative)capable (competent)courageousTerminal ValuesEx. Personal gratificationsocial recognitioncomfortable lifepleasure (enjoyable life)Sense of accomplishment
12Types of Product Knowledge Bundle of AttributesConsequencesValuesProductSelf
13The Means-End ChainA means-end chain is a knowledge structure that connects consumers’ meanings about product attributes, consequences, and values.The means-end chain provides a more complete understanding of consumers’ product knowledge.
17Means-End Chain Model of Consumer’s Product Knowledge Terminal ValuesInstrumental ValuesPsychosocial ConsequencesFunctional ConsequencesAbstract AttributesConcrete Attributes
18Means-End Chain Example: Spring suspension for twin blades Gillette Sensor RazorBRANDATTRIBUTESCONSEQUENCESVALUESSpring suspension for twin bladesBe well groomedClose shaveSensor RazorLubricating stripSmooth, soft shaveBe comfortableLaddering is the technique used for uncovering means-ends chains; it involves asking Why brand? What attribute? Why attribute? Why consequence? What value? Etc.
19Means-End ChainSome product attributes can have more than one means-end chainSpend too muchHave less to spend on other thingsWaste of moneyBe well groomedHigh PriceGood qualityLast a long timeGood valueBe comfortable
20Consumers’ Product Involvement The perceived importance or personal relevance of an object ore event.
21Factors Influencing Involvement Personal sources of involvementMeans-end knowledge stored in consumers’ memories.
22Factors Influencing Involvement Situational sources of involvement Aspects of the immediate physical and social environment that activate important consequences and values and link them to product attributes, thus making products and brands seem self-relevant.
23Model of Consumer Product Involvement Consumer characteristicsProduct characteristicsEnvironmental characteristics