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Sensory memory is the area in memory where we store what we encounter with our ?ve human senses. When we hear something, sensory memory is responsible for storing the sounds. The consumer walking through an airport terminal encounters many sounds, smells, and sights. Sensory memory picks these things out and stores them even though the consumer has not yet allocated attention to any sensations. This portion of memory is considered to be pre-attentive.
Workbench memory is the storage area in the memory system where information is stored and encoded for placement in long-term memory and eventually retrieved for future use. As we will see, workbench memory works very closely with long-term memory. Encoding is the process by which information is transferred from workbench memory to long-term memory for permanent storage. Retrieval is the process by which information is transferred back into workbench memory for additional processing when needed.
A consumer’s long-term memory plays a very important role in learning. Long-term memory is a repository for all information that a person has encountered. This portion of memory has unlimited capacity and unlimited duration. Barring some physical incapacity, long-term memory represents permanent information storage. Information stored in long-term memory is coded with semantic coding , which means the stimuli are con- verted to meaning that can be expressed verbally.
Question:
How do these any three theories pertain to your buying decision? Give a clear and concise example. For an example for me...I love the smell of wood smoke especially when it is involved with food (BBQ) I start to salivate when I smell the wood smoke even though I may not know or even see food present...it is a mental trigger.
Explain how many DVDs should Blockbuster order. Illustrate what is its expected profit. Illustrate what is the profit that the studio makes given Blockbuster's actions.
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Give an example of a product or service for which you have a very price inelastic demand (i.e. you'll continue to purchase about the same even if the price goes up quite a bit). Since the change in quantity is so much more than the change in price, I..
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