EverythingyouneedtoknowEndTermMarketing

EverythingyouneedtoknowEndTermMarketing Topic1-Introduction Marketingisthesocialandmanagerialprocessbywhichindividualsandgroupsobtainwhat theyneedandwantthroughcreatingandexchangingproductsandvaluewithothers.Consumerbehaviorreflectsthetotalityofconsumers’decisionswithrespecttotheacquisition, consumption,anddispositionofgoods,services,time,andideasby(human)decisionmaking [overtime].

Processconsumerbehavior:

Stimulus(S);inputOrganism(O) Response(R);output

Marketingstimuli:e.g.,

product,price,promotion, place Understanding

ConsumerBehavior:

thinking,feeling,doing

Successmeasures:e.g.,

sales,customerloyalty, reviewvalence ConsumerInsight KnowledgeversusUnderstanding Anunderstandingisamentalconstruct,anabstractionmadebythehumanmindtomakesense ofmanydifferentpiecesofknowledge.KnowledgeUnderstanding ThefactsThemeaningofthefacts Abodyofcoherentfacts The“theory”thatprovidescoherenceand meaningtothosefacts VerifiableclaimsFallible,in-processtheories RightorwrongAmatterofdegreeorsophistication Iknowsomethingtobetrue Iunderstandwhythisis,whatmakesit knowledge IrespondoncuewithwhatIknowIjudgewhentoandwhennottousewhatI know Correlationversuscausality CorrelationCausality Astatisticalwaytomeasurethe relationshipbetweentwosetsofdata Aspecificcorrelationwherethedependent variableistheresultoftheindependent variable

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Doesnotautomaticallymeanthatthechange inonevariableisthecauseofthechangein anothervariable Meansthatonethingwillcausetheother Meansthatboththingsareobservedatthe sametime Todemonstratecausation,youneedtoshow adirectionalrelationshipwithno alternativeexplanations.

Causalresearchhastwomainobjectives:

●Identifyingwhichvariablesarethe“cause”andwhichvariablesarethe“effect”.●Understandingthenatureoftherelationshipbetweenthecausevariablesandtheeffect variables.Ascausalresearchisexperimentalinnature,itmusthaveclearlyoutlinedparametersand objectives.Withoutaresearchplanandclearlydefinedobjectives,thefindingsofyourstudycan becomeunreliableandcanpotentiallyhavealotofresearcherbias.Additionally,controlled experimentsallowyoutoeliminatetheinfluenceofthirdvariablesbyemployingtheuseof controlgroupsorrandomassignment.Observation=singlepoints Inference=pointsareconnected Topic2-motivation MAO(Motivation, Abilityand Opportunity)

DriversExample:Elderly;a

growingmarketforInternet Services Motivation ●PersonalRelevance ●Consistencywiththeself,values, needs,goals,emotions ●Moderateinconsistencywith attitudes ●PerceivedRisk Motivationtolearnabout SocialMediaandavoiding SocialExclusion ●Observationthat socialinteraction betweenpeopleis changing ●Wanttoavoidsocial segregation,feel younger ●Seethemselfas responsible(taking careofyourself)

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Ability ●ProductKnowledgeand Experience ●CognitiveStyle ●Intelligence,Education,andAge ●Money AbilitytoworkwithPersonal ComputersandMobile Devices ●Peoplearemore educatedthanthe generationbefore them ●Elderlyprefervisual aids Opportunity ●Time ●Distraction ●Information ○Amount ○Complexity ○Repetition Opportunitytotake advantageofDigital Innovations ●Developmentofapps andsimplificationof devices ●Availabilityofservices targetedatthem

Exampleabilitydriver;cognitivestyle:Whenpeoplethinkandreason,theysometimeshavea

vestedinterestintheoutcomeoftheirthinkingandreasoning.Forexample,peopleengagein wishfulthinkingaboutwhetherornottheirfavoritesportsteamwillwin,orwhetherarelativewill surviveariskysurgicalprocedure.Motivation

Definitionmotivation:

●Theforcewithintheindividualthataccountforthe(1)direction,(2)intensity,and(3) persistenceofeffortexpended ●Thebiological,rational,emotional,and/orsocialforcethatinitiatesanddirectsbehavior ●Theinferredprocesswithinanindividualthatcausesthatorganismtomovetowardsa goal ●Theinternalprocessleadingtobehaviortosatisfyneeds Effectoncustomerbehavior ●Highlymotivatedconsumersarewillingtospendmoretimeoninformationsearch;i.e.it evokesapsychologicalstatecalledinvolvement ●Motivatedconsumersaremoreeagertolearnaboutmorealternatives ●Whenmotivationtoprocessbrandinformationislow,attentionisvoluntarilyallocatedto stimuliotherthanthebrandorad ●Motivationtoenhanceattentionispossiblebyappealingtointrinsichedonicneeds, usingnovelstimuliorenhancingcuriosity

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●Consumerswhogivegiftsfromasenseofobligationsaremorelikelytoselectutilitarian giftsascomparedtothosewhygivegiftsfromavoluntarymotive;theybuymore hedonicgifts ●Consumersattributehigherlevelsofpro-environmentalbehaviorandmotivation,but lowerlevelsofability,tothemselvesthantoothersocietalactors.Challengeofunderstandingmotivation ●Reasonsunderlyingconsumermotivation(drivers)arenotalways“obvious” ●Peopledon’talwayswanttodisclosereasonsfortheiractions ●Peopledon’talwaysknowwhytheydowhattheydo–unconsciousmotivation ●Motivationschangeovertime Dimensionsofmotivation DirectsBehavior(direction)EnergizesBehavior (intensity) SustainsBehavior (persistence) GoalsDrivesMaintainingmotivation OrganizationofEffortCompulsions Abilitytochangecourse ReachingEquilibriumDeprivation/DisequilibriumImportanceofFeedback Typesofmotivation Types(A) Positive/approach Negative/avoidance Motivation adrivingforcetowardsome objectorcondition adrivingforceawayfrom someobjectorcondition Goalapositivegoaltowardwhich behaviorisdirected anegativegoalfromwhich behaviorisdirectedaway Types(B) Intrinsic Extrinsic Motivation comesfromwithinaperson todoataskorachievea particulargoalfor oneself comesfromexternalforcesor parameterstodoataskor achieveaparticulargoalfor someothertoearnexternal rewardsoravoidpunishment.Drivenby motiveslikeeating food,desirestoachieve goals,biologicalneedsetc motiveslike financialbonus,rewards, appreciation,promotion, punishment,demotionetc.

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