Short-term Memory

Definition

Short-term memory refers to the capacity for holding a small amount of information in an active, readily available state for a brief period, typically around 15 to 30 seconds. This type of memory is crucial for consumer decision-making as it allows individuals to temporarily store and manipulate information related to products and services while making choices.

5 Must Know Facts For Your Next Test

1. Short-term memory has a limited capacity, often described by Miller's Law as being able to hold about 7 plus or minus 2 items at once.
2. Information in short-term memory is vulnerable to decay and interference; if not rehearsed or encoded into long-term memory, it is easily forgotten.
3. The duration of information retention in short-term memory is typically between 15 to 30 seconds, making it essential for immediate decision-making processes.
4. Rehearsal strategies, such as chunking or repeating information, can enhance the retention of details within short-term memory.
5. In consumer behavior, short-term memory plays a vital role in how consumers recall product features, prices, and brand names during their purchasing decisions.

Review Questions

• How does short-term memory influence consumer decision-making when evaluating product options?
  • Short-term memory significantly impacts consumer decision-making by allowing individuals to hold and evaluate critical information about products during the selection process. For instance, when comparing different brands, consumers rely on their short-term memory to remember key features, prices, and advertisements they've encountered. The ability to retain this information temporarily enables consumers to make informed choices based on their recent experiences and perceptions.
• What strategies can consumers use to enhance their short-term memory when considering various products or services?
  • Consumers can employ several strategies to improve their short-term memory when evaluating products. Techniques like chunking information into smaller groups or using mnemonic devices can help individuals retain essential details more effectively. Additionally, actively rehearsing product features or repeating important points aloud can reinforce the material in short-term memory, increasing the likelihood of recalling this information when making purchasing decisions.
• Evaluate the role of cognitive load on short-term memory capacity and its implications for marketers aiming to influence consumer behavior.
  • Cognitive load significantly affects short-term memory capacity by determining how much information a consumer can process at any given time. When marketers present too much information or overly complex messages, it can overwhelm consumers' short-term memory, leading to poor retention and decision-making. Thus, effective marketing strategies should aim to minimize cognitive load by simplifying messages and focusing on key selling points. This approach enhances consumers' ability to remember important product details and ultimately influences their purchasing decisions more positively.

Related terms

Working Memory:

A cognitive system that allows for the manipulation and processing of information in short-term memory, enabling tasks such as reasoning and comprehension.

Long-term Memory: The more permanent storage of information that can last from minutes to a lifetime, often formed from information processed in short-term memory.

Cognitive Load:

The total amount of mental effort being used in the working memory, which can affect how well information is retained in short-term memory.