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IMPORTANT TERMS EXAM Entrepreneurial Marketing - 300326-B-6 - Tilburg University - 2nd semester
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All the important terms for the exam of Entrepreneurial Marketing. A great way of learning!
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Important terms listTypes of biases
Self-positivity bias people think that bad things only happen to others, but not to us.
Confirmation bias only using information that matches the knowledge that you already
have. So you don’t learn something new.
Selection bias the people that you interview may not be a valid representation of
the target group.
Social desirability bias not giving the actual answer to be nice to your interviewer and not
offend them. You need brutally honest feedback from unbiased
people.
Hindsight bias this is the tendency to believe, after learning an outcome, that one
would have foreseen it (when we actually didn’t). When we find out
that something happens, it feels inevitable. “I knew it all along”
phenomenon. We end up that we trust ourselves too much, so we
don’t learn.
Overconfidence bias we tend to think that we know more than we do. Humans are usually
more confident than correct. This leads us to being two-sided which
is bad.
Projection bias we believe that people are much more similar to us than they
actually are. In many cases you don’t represent the target market
you are trying to reach.
Non-response bias having an influenced outcome since not every group of people reacts
to a survey, but only the extreme ones.
Negativity bias we give more attention and value to negative things than to positive.
Sunk costs bias a tendency to focus on costs that are made in the past to let them
influence your current decisions.
Numerical anchoring bias a cognitive bias where once the value of the anchor is set,
subsequent arguments, estimates, etc. made by an individual may
change from what they would have otherwise been without the
anchor.
Responsibility bias a bias in which an individual’s own contribution is being exaggerated
because they have more information about themselves than others.
Types of effects
Demand effects this occurs when participants try to figure out what the
experimenter wants and change their behaviour/responses to fit
perceived experimenter demands (sociaal wenselijk gedrag).
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