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Marketing Articles Summary Midterm & Endterm
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A complete summary of all the articles needed for the midterm and endterm for Marketing.
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By: sjveldt • 3 year ago
This document lacks the last week's article (Doing well while doing good? An integrative review of marketing critisim and response) pity, for the rest fine!
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MARKETING ARTICLESThe Circular Economy
- A new relationship with our goods and materials would save resources
and energy and create local jobs.
- A 'circular economy' would turn goods that are at the end of their
service life into resources for others, closing loops in industrial
ecosystems and minimizing waste
- Replace production with sufficiency and extend the use phase of the
cycle.
- Reduce each nation's greenhouse-gas emissions by up to 70% and
grow its workforce by about 4%
- Cons: lack of familiarity and fear of the unknown.
- GDP is measured by goods that are continually consumed but the
circular economy puts emphasis on preserving physical stocks.
- Excellence in metallurgical and chemical sciences is a precondition for
a circular economy to succeed.
- The kinds of industrial economy:
o Linear: Flows like a river. Ownership and liability for risks and
waste pass to the buyer at point of sale. Efficient in overcoming
scarcity. Wasting resources (in saturated markets).
o Circular: Flows like a lake. New jobs through reprocessing of
materials and goods, energy savings
o Performance: selling goods (or molecules) as services (renting, leasing,
sharing)/ “Product as a service”. Ownership remains with manufacturer. E.g. I
do not need a drill; I need a hole in the wall.
- Action:
o Research and innovation are needed at all levels — social, technological and
commercial.
o Communication and information strategies are needed to raise the awareness
of manufacturers and the public about their responsibility for products
throughout their service lives.
o Policymakers should use 'resource-miser' indicators such as value-per-weight and labour-input-per-weight ratios
rather than GDP.
o Policies should promote activities that are desired by society and punish those that are not.
o Societal wealth and well-being should be measured in stock instead of flow, in capital instead of sales.
Neuromarketing: What You Need to Know
- The field of neuromarketing—sometimes known as consumer neuroscience—studies the brain to predict and
potentially even manipulate consumer behavior and decision making.
- It has the potential to create value for marketers.
- “Neuromarketing” loosely refers to the measurement of physiological and neural signals to gain insight into customers’
motivations, preferences, and decisions, which can help inform creative advertising, product development, pricing, and
other marketing areas.
- Most common methods of measurement:
o Brain scanning: measures neural activity.
o Physiological tracking: measures eye movement and other proxies for that activity.
- Primary tools for scanning the brain:
o fMRI: functional magnetic resonance imagin
o EEG: electroencephalogram
- served Coca-Cola and Pepsi to subjects in an fMRI
machine.
- When the drinks weren’t identified, the researchers
noted a consistent neural response. But when
subjects could see the brand, their limbic structures
(brain areas associated with emotions, memories,
and unconscious processing) showed enhanced
activity, demonstrating that knowledge of the brand
altered how the brain perceived the beverage.
- A series of academic studies have demonstrated
that brain data can predict the future success of
, products more accurately than can traditional market research tools such as surveys and focus groups.
- Some companies have invested in neuromarketing, but experts warn that the field is plagued by vendors who oversell
what neuromarketing can deliver.
- Here are some ways neuroscience might be used in the future to influence consumer behavior:
o Better segmentation
o Sleep nudging
o Hormone manipulation
o Temporary neural inhibition
A Room with a Viewpoint: Using Social Norms to Motivate Environmental Conservation in Hotels
- Whether or not to remove towels from hotel rooms.
- Hotel conservation programs: reusing towels.
- Experiment 1: Investigate whether using an appeal that conveys the descriptive norm for participation in such programs
would be more effective at encouraging towel reuse than the current industry standard appeal.
- Experiment 2: examine whether the norm of hotel guests’ immediate surroundings, which we refer to as the provincial
norm, motivates conformity to the norm to a greater extent than the norm of guests’ less immediate surroundings,
which we refer to as the global norm.
- These experiments are aimed at better understanding the factors that motivate consumers to engage in actions for the
benefit of the environment.
- The results of two field experiments demonstrated the power of descriptive norms to motivate others to engage in the
important real-world domain of environmental conservation.
Webinar by MUD JEANS by Bert van Son (Founder and CEO)
Mission
Taking the most popular fashion item, a pair of jeans, and producing them in a circular way.
Vision
Living a sincere and honest life is only possible if we’re mindful of nature and people.
The Problem
- Fashion accounts for 10% of CO2 emissions.
- Jeans pollute water and use a lot of water and is a popular fashion item.
The Concept
- Use new organic cotton
Don’t use unnecessary materials – print label and use stainless steel.
-
-
- Vegan brand – don’t use leather.
- Lease or buy
- From a linear economy to a circular economy.
- Save 92% water
- Save 69% CO2
- 40% recycled cotton
Audience/Target Market
- The cultural creative
o Searching for meaning in work and life
o Well-informed on what is happening in the world
o Care about sustainability and climate
o Connected to nature
o Critical citizens
o Healthy and active lifestyle
o Open minded and like new experiences
Trends
- Buy a story e.g. believe in brands, CSR, inspiring ethos.
- Own less: access, sharing, and collaboration.
B Corp Declaration
- Benefit corporation e.g. Tony Chocolony
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