Values in the Consumer Behavior Choice Model

Answer these 4 questions:
NO MORE than 2 pages per question. (So 8 pages, but will accept 6 if 7 is too much) Can be less. NO word count. SINGLE SPACED. DUE by midnight, currently 10pm (Chicago time).
1. DISCUSS THE 5 VALUES IN THE CONSUMER CHOICE MODEL COVERED WEEK 2. EXPLAIN HOW EACH VALUE IS MEASURED, AND THE SOCIAL SCIENCE DISCIPLINE EACH VALUE IS DERIVED FROM.
Here's some info from the lectures:
Functional Value
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Functional value - the perceived utility acquired by an alternative as the result of its ability to perform its functional, utilitarian, or physical purposes. Alternatives acquire functional value through the possession of salient functional, utilitarian, or physical attributes.
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Functional value generally relates to such attributes as performance, reliability, durability, and price. The assumption that choice is based on functional value underlies economic utility theory, popularly expressed in terms of “rational economic man.” Utility theory posits that the alternative chosen will be the one that maximizes utility
Social Value
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Social Value – The perceived utility acquired by an alternative as a result of its association with one or more specific social groups. Alternatives acquire social value through association with positively or negatively stereotyped demographic, socioeconomic, and cultural-ethnic groups.
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The attribution of social value occurs most frequently for very visible items of consumption. Again, a wide range of examples is applicable. Certainly, choices of products, activities, and locations to be shared with others may be influenced by social value. To illustrate, choices involving gifts and recreational alternatives are often influenced by social norms. However, products generally thought to be functional or utilitarian and products acquired for personal use may also be selected on the basis of social value. Examples include automobiles and kitchen applianc
Emotional Value
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Emotional Value – The perceived utility acquired by an alternative as a result of its ability to arouse feelings or affective states. Alternatives acquire emotional value when associated with specific feelings or when the facilitate or perpetuate feelings.
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Many products are associated with or facilitate the arousal of specific emotions or feelings – for example, comfort, security, excitement, romance, passion, anger, fear, and guilt. Music, art, religion, and products that affect self-image (e.g., clothing and cosmetics) are often associated with emotional value. However, seemingly utilitarian products are also associated with emotional value. Many foods arouse feelings of comfort and security through their association with pleasant childhood experiences, and many consumers are said to have “love affairs” with their cars. Emotions are presumed to have no underlying cognitive structure or “rationale” because they are difficult to describe or explain to oth
Conditional Value
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Conditional value - the perceived utility acquired by an alternative as the result of the specific situation or the context faced by the choice maker. Alternatives acquire conditional value in the presence of antecedent physical or social contingencies that enhance their functional or social value, but do not otherwise possess this value.
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Conditional value often influences the choice maker to deviate from his or her typical or planned pattern of behavior. Conditional functional value often dominates in emergency situations, in situations where an alternative is available at a special sale price, and in situations characterized by unusual resource constraints or abundances. Conditional social value often dominates in situations where cultural norms dictate behavior. The saying “when in Rome, do as the Romans do’ reflects such a situation
Epistemic Value
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Epistemic value – the perceived utility acquired by an alternative as a result of its ability to arouse curiosity, provide novelty, and/or satisfy a desire for knowledge. Alternatives acquire epistemic value through the capacity to provide something new or different.
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Epistemic value is certainly provided by alternatives associated with entirely new experiences. However, an alternative representing a simple change of pace can also provide epistemic value. An alternative selected due to its epistemic value may be anything perceived by the consumer as new or different. It may be chosen because the consumer is bored or satiated with her or his current brand (buys a new brand of coffee), is curios about a potential experience (visits a new night club), or desires to learn more about the alternative (experiences another culture)
2. IN THE MODEL OF CONSUMER DECISION-MAKING IN CHAPTER 15, IT IS BROKEN UP INTO DIFFEERNT PARTS. GO OVER EACH PART, AND EXPLAIN HOW A MARKETER CAN USE EACH PART TO DEVELOP A SUCCESSFUL MARKETING STRATEGY
There are four types of models which explain why consumers act the way they do. In an economic view, there is perfect competition and the consumer makes rational decisions. They are aware of all choices, can rank their benefits, and can choose the best alternative. Unfortunately for many, the perfect consumer does not exist. On the other extreme is the passive view, in which the consumer is passive to the marketer in making their decisions. Here the consumer plays no role as they would in a cognitive view where the consumer is a thinking problem solver. We have discussed emotions and they are at the center of the emotional model of consumer decision making.
An Economic View
A Passive View
A Cognitive View
An Emotional View
An overview of consumer decision making shows three main sections. The first includes all the external influences on a consumer. This includes socio-cultural factors as discussed in previous chapters, as well as the marketer’s efforts. The second section includes the individual’s consumer decision making, which occurs in the three stages of need recognition, prepurchase search, and evaluation of alternatives. This process is guided by psychological factors and the consumer’s experiences. The third major section includes the actual purchase and how the consumer feels and what they think after they purchase the product.
3. DISCUSS THE EXTERNAL INFLUENCES OF CULTURE AND SUBCULTURE IN DETAIL. PROVIDE EXAMPLES FROM THE BOOK THAT EXPLAINED HOW COMPANIES USED BOTH TO MARKET THEIR PRODUCT OR SERVICE.
Text Book: Consumer Behavior, Schiffman and Kanuk, Prentice Hall, 10th ed. (Textbook-CB)
4. WHAT IS THE DIFFERENCE BETWEEN MARKET SEGMENTATION AND STRATEGIC TARGETING? CHOOSE ANY COMPANY AND EXPLAIN HOW THEY ARE USING BOTH OF THESE TO SUCCESSFULLY MARKET THEIR PRODUCTS AND/OR SERVICES.
NO MORE than 2 pages per question. Can be less. SINGLE SPACED.