Business Notes

Topics: Brand, Marketing, Branding Pages: 7 (1263 words) Published: February 28, 2013
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:

Info search (other options)
Alternative evaluation
Purchase and delivery
Post purchase evaluation
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.

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) Mates, cell phone etc. Reference Groups
Normative – Defines what normal behaviour is, (eg) Mates •Comparative – Benchmarks
Indirect – What you aspire to be like (eg) professionals, movie stars etc Sub-culture: What you want to be seen as , groups you associate with (eg) Brand communities or your normative reference groups? “It is a distinct culture group that exist as an identifiable 3asy associate with (eg) Brand communities or your normative reference groups? “It is a distinct culture group that exist as an identifiable segment of a larger society” Social class: Determinants of social class:

Status: (eg) wealthy people buying ‘bently’ to show successfulness, power, etc. Owning a bently gives others the instant perception that you are wealthy and instant social status. Family and social class: Marketers use the ‘importance of family’ to market and sell products. Semiosis: A process of communication by any type of sign. (eg) Semiotic triangle. (eg) A famous person is seen with a product/brand, the consumer is then exposed to the brand and then interoperates the sign. Gives a perception of the brand Brand personality: “the set of human characteristics associated with a brand” Nike = sporty Symbols

Brand placement
Brand community: Just because you own a product does not make you apart of their brand community. People in a brand community feel as though they have a moral obligation/responsibility towards the brand. Not every brand has a brand community. Consumer brand connections:

Nostalgic connection – Brands that remind you of your past •Interdependence – Brands that help you do something
Self-concept attachment – Expressing personality by using that brand Brand relationships
Consumer research process:
Define problem
Decide on research approach (Experiments, surverys, observation) •Data collection method
Data collection
Psychological Learning theories:
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