Business Notes
Bsns 103 Key aspects:
Culture: Language and symbols, norms, beliefs rituals.
Affluenza: “The consumers disease” We want more and more, the more we have the more we want.
Over consumption: (eg) Fast food leads to obesity. Having to have the latest model that is released. Driving cars = pollution.
Purchasing decision model:
• Identification/recognition
• Info search (other options)
• Alternative evaluation
• Purchase and delivery
• Post purchase evaluation
Needs
Wants
Perception
Senses
Attitudes:
• Affect (feelings)
• Behaviour (intentions to act towards the object because of this attitude)
• Cognition (beliefs about the object) eg. We convince ourselves why it is a good object.
Balance theory: (eg) Bob doesn’t like Bcoms but Betty does, Bob likes Betty, so Bob changes his view to Bcoms, and now likes them.
TORA: Theory of reasoned action. Consumer has control of their actions and is thoughtful about purchasing something.
Co-creation of value: Marketers or brands working with customers to create value. (eg) Bluebird chip “create your own flavour” competition. Got customers more involved in their consumption.
Dissonance: Regret about purchasing something.
Personality
Freudian Theory
• ID – urges, unconscious, “instinctual needs” (eg) Buying a jersey because you don’t want to be cold
• Superego – How we interoperate society’s norms and codes. (eg) buying a jersey because you want to be up with the latest fashion. What other people think of you.
Trait Theory: Personality is linked to how consumers make their choice on a product category, not a particular brand. (eg) Purchasing a sports car vs station wagon, NOT ford vs holden. (eg) Purchasing coke vs juice NOT Coke vs pepsi.
Consumer ethnocentrism: Consumers feel it is wrong to buy foreign, they feel a moral obligation to “buy local.” A fear of other cultures?
Self image
Self concept: What you see yourself as
The extended self: “external objects that we consider apart of us” (eg)
Culture: Language and symbols, norms, beliefs rituals.
Affluenza: “The consumers disease” We want more and more, the more we have the more we want.
Over consumption: (eg) Fast food leads to obesity. Having to have the latest model that is released. Driving cars = pollution.
Purchasing decision model:
• Identification/recognition
• Info search (other options)
• Alternative evaluation
• Purchase and delivery
• Post purchase evaluation
Needs
Wants
Perception
Senses
Attitudes:
• Affect (feelings)
• Behaviour (intentions to act towards the object because of this attitude)
• Cognition (beliefs about the object) eg. We convince ourselves why it is a good object.
Balance theory: (eg) Bob doesn’t like Bcoms but Betty does, Bob likes Betty, so Bob changes his view to Bcoms, and now likes them.
TORA: Theory of reasoned action. Consumer has control of their actions and is thoughtful about purchasing something.
Co-creation of value: Marketers or brands working with customers to create value. (eg) Bluebird chip “create your own flavour” competition. Got customers more involved in their consumption.
Dissonance: Regret about purchasing something.
Personality
Freudian Theory
• ID – urges, unconscious, “instinctual needs” (eg) Buying a jersey because you don’t want to be cold
• Superego – How we interoperate society’s norms and codes. (eg) buying a jersey because you want to be up with the latest fashion. What other people think of you.
Trait Theory: Personality is linked to how consumers make their choice on a product category, not a particular brand. (eg) Purchasing a sports car vs station wagon, NOT ford vs holden. (eg) Purchasing coke vs juice NOT Coke vs pepsi.
Consumer ethnocentrism: Consumers feel it is wrong to buy foreign, they feel a moral obligation to “buy local.” A fear of other cultures?
Self image
Self concept: What you see yourself as
The extended self: “external objects that we consider apart of us” (eg)