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Summary BEM 212: MARKETING MANAGEMENT EXAM 2023 NOTES $8.90   Add to cart

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Summary BEM 212: MARKETING MANAGEMENT EXAM 2023 NOTES

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BEM212 notes for the exam, these notes are made using the textbook, lecture slides and notes taken in class. Notes are also made according to the learning outcomes. Chapter 2, 3, 6, 7, 8, 9, 11, and 14 is summarised.

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  • Chapter 2, 3, 6, 7, 8, 9, 11, 14
  • June 5, 2023
  • 27
  • 2022/2023
  • Summary
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chapter 2
consumer motivation

LEARNING OUTCOME 1 • need to acquire self-
DEFINE MOTIVATION
esteem + be ambitious
• to be recognised by
MOTIVATION
others - person must
EGO NEEDS achieve & be successful -
• factors that influence behaviour of humans leads to self-respect +
• reason for acting in particular way confidence
• either pushes person towards something or • e.g. by successfully
pulls person away from something completing degree
• need to be able to give
LEARNING OUTCOME 2 back to society what was
EXPLAIN THE DIFFERENT THEORIES OF MOTIVATION
SELF- learned and experienced
ACTUALISATION during person’s lifetime,
NEEDS
1. MASLOW’S HIERARCHY OF NEEDS while being creative,
spontaneous, and
• lower-order needs must be fulfilled before fulfilling one's potential
people are able to consider satisfying higher-
order needs
2. MC CLELLAND’S NEED THEORY
higher-order needs




SELF-
ACTUALISATION
NEEDS


• order of importance is different for each
EGO NEEDS person
NEED FOR
POWER
SOCIAL NEEDS
lower-order needs




SAFETY NEEDS




PHYSIOLOGICAL NEEDS NEED FOR NEED FOR
ACHIEVEMENT AFFILIATION



PHYSIOLOGICAL • needs for water, food,
NEEDS sex, and sleep • need to spend time with
NEED FOR others be part of group
• need for safety & security AFFILIATION • desire to be accepted by
• physically &
others
SAFETY NEEDS psychologically
• safe place to stay, job • desire to overcome
security, etc. obstacles & accomplish
NEED FOR goals
• need to belong & to be ACHIEVEMENT • avoid high-risk and low-
SOCIAL NEEDS accepted by others by
risk situations to be
forming relationships
successful

1

, • need to influence or
control others/coach and 5. GOAL-SETTING THEORY
NEED FOR encourage others
POWER • individual power: selfish • motivation occurs by clear goals and
• institutional power: further appropriate feedback
goals of group • why goal setting is important:
o direct attention towards need wanted
o regulate effort
o increase persistence
3. VROOM’S EXPECTANCY THEORY
o help create plans & actions to
achieve end result
• motivation is based on results person expects
from action KEY PRINCIPLES OF GOAL SETTING
• motivation is based on outcome of how much
person wants a reward CLARITY goal should be clear + specific
• people analyse cost and benefits of possible
behavioural actions people are motivated by
CHALLENGE
• if value of any of three elements is zero, the reward of achievement
equation’s sum is zero COMMITMENT goal should be understood
helps person clarify their
VALENCE INSTRUMENTALITY EXPECTANCY
expectations, adjust level of
FEEBACK
goal difficulty, and receive
recognition
• valence: degree of satisfaction an individual
expects to receive from the outcome TASK goal shouldn’t be too easy or
• instrumentality: person’s belief that their COMPLEXITY too difficult
input will lead to specific outcome
• expectancy: probability that outcome will be
achieved (based on past experiences, self- 6. ALDERFER’S ERG THEORY
confidence, and perceived difficulty of
achieving the outcome)
• more than one can be satisfied at same time
• all needs are equal
• e.g. ad for new easy-to-cook chicken portrays
4. ADAM’S EQUITY THEORY
their satisfaction of all three needs by using
image of inviting and friendly family (R),
• equity: person perceives themselves as being looking neat and well dressed (E) with the
treated equally when comparted to another mother presenting the cooked chicken to her
person in similar position family, while boasting about the cooking skills
• motivation is driven by sense of inequality in she used in providing them with this nutritious
effort to find equality and fairness meal
• based on belief that it is important to strive for
EXISTENCE
fairness and justice
• there should be an even exchange
• fair trade: whatever is put in should ensure
specific output
• equality in terms of others: person should be
treated the same as other people who are RELATEDNESS GROWTH
similar to them

2

, • existence: person’s physiological and
materialistic well-being 3. INTRINSIC AND EXTRINSIC MOTIVES
• relatedness: person’s need for good
relationships with others
• intrinsic motivation: pleasure gained from an
• growth: person’s need to grow and use their
activity & is motivated from within
abilities to increase their ability
o buying fast car for thrill of its speed
• extrinsic motivation: means to an end is
LEARNING OUTCOME 3
motivation from external rewards
NAME AND DESCRIBE FACTORS INFLUENCING
CONSUMER MOTIVATION o buying fast car to get from point A to B
o intrinsic usually outlast extrinsic
1. INDIVIDUAL DIFFERENCES motives


• consumers are diverse in personality, values
4. CONSCIOUS AND UNCONSCIOUS MOTIVES
& demographics
• value:
o belief that is ingrained in individual • conscious: knowledge of the fact that the
o may have more than one value purchase will be made
orientation & some may be stronger • unconscious: triggers may highlight the need
or more significant than others to to buy something
different consumers

THEORETCICAL values knowledge and deeper 5. SITUATIONAL IMPACT ON MOTIVES
PERSON meaning of things
driven by value motivate that • situation for which consumer is shopping can
ECONOMIC something should be useful, or have impact on motivation of the person
PERSON practical & they want to see • festive shopping, shopping for funeral outfit
evidence of value for money
SOCIAL experiences meaning in
PERSON relationships with others 6. URGENCY MOTIVES
person needs to be in position
POWER
PERSON of power by giving person • urgency of need influences consumer’s
superior choices for example behaviour
person’s behaviour has • e.g. if you need winter shoes, but winter is still
spiritual foundations and 3 months away, you can shop around + take
RELIGIOUS
PERSON believe that things happen for your time VS need shoes for event tomorrow
a reason
AESTHETIC values beauty or experience of 7. POLARITY INFLEUNCE ON MOTIVES
PERSON beautiful things

• positive influences push consumers towards
certain behaviour
2. RATIONAL AND EMOTIONAL MOTIVES o going for flu shot before winter to
enhance your immune system
• negative influences motivate consumer to
• rational motives: facts, logic, durability, and
avoid negative consequences
quality
o buying deodorant to prevent body
• emotional motives: subjective criteria such as
odour
fun, pleasure & beauty
3

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