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Summary Theories of Marketing - UvA Master Business Administration
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Summary Theories of MarketingTable of contents
General marketing information..............................................................................................................3
What is marketing?.............................................................................................................................3
Consumers vs. Customers...................................................................................................................3
Consumer behavior............................................................................................................................3
Wheel of consumer analysis...............................................................................................................3
Consumer insights..............................................................................................................................4
“Two ways of knowing” (Sawhney 2004)............................................................................................4
How to uncover consumer insights?...................................................................................................4
ZMET...................................................................................................................................................4
Marketing 3.0.....................................................................................................................................5
Vrio.....................................................................................................................................................5
Company resources............................................................................................................................5
Vicarious Learning..............................................................................................................................6
Attitude-behavior relationships..........................................................................................................6
Theory of planned behavior...............................................................................................................6
Values.................................................................................................................................................7
Associative networks..........................................................................................................................7
Criteria for brand association.............................................................................................................8
Topic 1: Developments in marketing thinking........................................................................................9
Two main marketing decisions...........................................................................................................9
Market orientation.............................................................................................................................9
Customer experience management (CEM).........................................................................................9
Market orientation vs. Customer experience management.............................................................10
Network paradigm............................................................................................................................10
Responsive MO vs. Proactive MO.....................................................................................................11
Topic 2: Consumer insights and motivations........................................................................................12
Consumers vs. customers.................................................................................................................12
4 Ws: Sawhney paraphrased............................................................................................................12
Consumer motivations......................................................................................................................12
Zaltman’s ZMEt approach.................................................................................................................12
Means-end-chain analysis................................................................................................................12
Example of MEC for social media.....................................................................................................14
Linking Consumer insights to brand insights/benefits......................................................................14
, MECCAS............................................................................................................................................14
Implementation MECCAS.................................................................................................................15
Topic 3: Value equity and innovation...................................................................................................16
Strategy vs. Marketing......................................................................................................................16
Marketing strategy...........................................................................................................................16
Segmenting/targeting.......................................................................................................................16
Positioning........................................................................................................................................16
Customer equity...............................................................................................................................17
Marketing tactics..............................................................................................................................17
Marketing strategy model................................................................................................................17
Customer value.................................................................................................................................17
From products to customer journey (Edelman & Singer, 2015).......................................................18
Network effect..................................................................................................................................18
Types of innovation..........................................................................................................................18
Red vs. Blue ocean............................................................................................................................19
Topic 4: Consumer behaviour...............................................................................................................20
Classical conditioning........................................................................................................................20
Operant conditioning........................................................................................................................20
Reinforcements schedules................................................................................................................21
Vicarious learning.............................................................................................................................21
Social interactions & consumers behavior........................................................................................21
Topic 5: Brand and relationship equity.................................................................................................22
Function of the brand for the customer...........................................................................................22
Function of the brand for the company............................................................................................22
Development in brand thinking........................................................................................................22
Brand system....................................................................................................................................23
Brand strength..................................................................................................................................23
Brand (extension) success................................................................................................................23
Types of brand extension.................................................................................................................24
Brand architecture............................................................................................................................24
Considerations between brand architectures...................................................................................25
Customer relationship equity...........................................................................................................26
Hierarchy relational bonds...............................................................................................................26
Customer equity model....................................................................................................................27
, General marketing information
What is marketing?
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at large.
There are two main marketing decisions
Segmentation understanding customers
Value differentiation customer value
Marketing thinking is contextual it changes over time.
Consumers vs. Customers
Consumer: someone who buys or uses goods or services
Customer: the buyer or user of the products of an individual/ organization
Consumer behavior
The study of individuals, groups, or organizations and all the activities associated with the purchase,
use and disposal of goods and services, including the consumer's emotional, mental and behavioral
responses that precede or follow these activities.
Wheel of consumer analysis
A framework to help marketers understand consumer behavior in order to design their marketing
strategy. The model structures the phenomena in and around consumer behavior into 3 categories or
elements:
Consumer Affect and Cognition: Consumer affect involves a consumer's feelings about stimuli
and events. Consumer Cognition involves the mental structures and processes involved in
thinking, understanding, and interpreting stimuli and events).
Consumer Behavior: The physical actions of consumers that can be directly observed and
measured by others. By influencing this behavior, marketers can increase sales of their
products and services.
Consumer Environment: Everything external to consumers that influences what they think,
feel, and do). It is the place or medium where stimuli to influence consumers are to be
placed.
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