Clear and complete summary of the book for the course Consumer and Marketing 2. Written in English, so that it matches the book as much as possible. All you need to pass the second midterm.
College aantekeningen Principles Of Consumer Behaviour (MAN-BKV64-2021-3V) Consumer Behavior, Global Edition, ISBN: 9781292269245
Multicultural Consumer Behaviour + EXAM QUESTIONS
Principles of Consumer Behavior summary: Book and Lectures
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Bedrijfseconomie
Marketing 2: Consumer Behaviour
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Marketing 2, midterm 2
Chapter 8
Social media: means of interactions among people in which they create, share, and exchange
information and ideas in virtual communities and networks. Social media depend on mobile and
web-based technologies to create highly interactive platforms through which individuals and
communities share, co-create, discuss, and modify user-generated content. Also, more and more
marketers are using mobile advertising: sending promotional messages to mobile device consumers.
Social media impacts the marketing mix ( 4 p’s):
- Product: marketers can use crowdsourcing to pull together various aspects of the marketing
mix. Also, new products are developed which are especially aimed at smartphone users.
- Price: prices are transparent online. Deal sites influence consumers’ perceptions of price and
value. Also, consumers use mobile devices to seek out lower prices.
- Place / distribution: marketers can distribute products via social media. Social media sites
drive traffic to marketer websites and retailers. People can also buy digital products on their
devices any time.
- Promotion: brand can now build awareness, encourage engagement, provide product
information and drive purchase behaviour.
Apps are chunks of software (installed on devices) that are gateways to games, online resources and
social networking. Apps collect users’ personal information and provide them to the apps’
developers. The data is the way in which customers pay for the ‘free’ app.
When consumers are just browsing on a website, they are most likely to not recall ad’s on the
website. When consumers are engaging to the website, they will recall the ad’s places on the
website.
Cognitive learning is the premise that learning occurs in the for of sequential, mental processing of
information when people face problems that they wish to resolve. Therefore, in order to inspire
ocnsumers to buy, marketers must engage them with their offerings in every stage of the decision.
Social media can help in awareness, trust, education, loyalty, persuasion and to remind the
consumer. Besides this, websites can also gather data.
There are several types of social media channels:
- Owned social media: messages sent by marketers to consumers via channels that the
marketers control.
- Paid social media: messages sent via channels that are not owned by the marketers, who pay
for using the channels.
- Earned social media: channels where consumers pass along messages about brands to one
another. These are independent online media channels that are neither owned nor
controlled by marketers.
Google reaches consumers by using web-search ads (ads generated by consumers’ searches), online
display ads (fixed banners posted on websites) and mobile advertising.
The characteristics of effective social media campaigns are:
- Social media campaigns must be planned together with advertising in traditional media.
- Marketers must consider the fact that social media simultaneously reaches several
audiences, which justifies larger advertising budgets.
, - Executives should closely examine consumers’ clicks on the like-buttons and use data from
their facebook pages to develop new niches for their products.
- Bosses who tweet personally strengthen the connections between the customers and the
brand.
- Employees should be encouraged to tweet, but guidelines for such communications must be
set and monitored for compliance.
Mobile advertising is the communication of products or services to mobile device and smartphone
consumers. Most of the money goes to search ads.
Mobile campaigns are less effective than desktop campaigns, when targeting broad audiences.
However, when targeting narrow audiences, mobile campaigns are more effective.
Mobile devices provide four types of value to users: monetary value (good value for the money),
convenience value, emotional value, social value.
Advertisers should use the following steps in designing social media campaigns: define objectives and
strategic approaches examine platforms available and determine which ones to use so as to
achieve the objectives produce the content using internal or external resources examine the
pricing models of the platform and set the expenditure needed to achieve the objectives measure
the effectiveness.
Marketers who analyse website visits usually track the following metrics:
- Unique visitors
- Cos per unique visitor: the total cost of placing the ad divided by the number of unique
visitors.
- Return visits
- Time spent
- Page views (click-through)
- Interaction rate: the proportion of viewers who interact with an ad.
- Actions: the action taken during visits
- Conversation-related measures: how many does the visitor post on the social media
platform.
- Visitors’ demographics. Check here how the target audience navigates around the site and
which demographic profiles have the most engagement. Evaluate than whether the content
created is a good match with the users.
Those metrics are quite easy to manipulate by the platforms, on which the content is placed.
Media exposure effects measure how many consumers were exposed to the message and their
characteristics.
Interactive TV (iTV) is a medium that combines TV broadcasts and the interactivity of the internet.
iTV can be delivered to all devices in the form of a two-way communication between subscribers and
providers of cable or satellite TV. Viewing on iTV is much more engaging, personal and dynamic than
watching one-way TV programs.
Advantages of radio are its high geographic and demographic audience selectivity. There are also
advantages of print media. It is effective for reaching large audiences. It is, however, not possible to
buy an ad with a small marketing budget. You can then better invest in the digital advertising
business, such as Facebook. Magazines reach specific geographic, demographic and interest-focused
groups and enable more precise targeting than newspapers.
, It is still useful to use the traditional ways and combine it with the modern ways of marketing:
//////////// social media mobile advertising
Television -run commercials on YouTube -produce interesting content in ads that people want to
-announce social media contests on television. share
-run ads on the social media sites of programs
Radio -remind listeners about social media -run radio spots on music streaming sites
promotions -encourage app downloads with radio spots
-prompt a visit to a social media site with a
radio ad
Print -publish content on social media sites -use QR codes in magazine ads.
-encourage sharing of brand news with links to -use print to encourage opt-in for SMS campaigns
articles
Outdoor -use signage to encourage check-ins on social -offer games via billboards that drive store visits
media -use beacons to reach customers on their phones
-create a social brand destination for customers
to meet in real life
Out-of-home media consist of communications that target consumers in captive and less cluttered
environments outside of their homes. Think about advertising screens in elevators, restaurants, etc..
or interactive digital billboards and displays.
Webisodes are short videos shown online featuring entertainment centered on a brand. Advergames
are video games with embedded brands.
Chapter 9
Reference groups are groups that serve as sources of comparison, influence and norms for people’s
opinions, values and behaviours. They have a high degree of source credibility: source’s persuasive
impact, stemming from its perceived expertise, trustworthiness and believability. A formal source of
information is defined as a communication source that speaks on behalf of a company. An informal
source is a person whom the message receiver know personally or an individual met online, who
provides the receiver with product information and advice.
There are two types of influence from reference groups: normative and comparative. Normative
influence is learning and adopting a group’s norms, values and behaviours. Generally, normative
influence occurs among members (which the individual knows) of the same socioeconomic group.
Comparative influence occurs when people compare themselves to others whom they respect and
admire, and then adopt some of those people’s values or imitate their behaviours.
A group to which a person belongs to, or realistically can join, is called a membership group. The
person will adopt their values to this membership group. A symbolic group is a group to which an
individual is unlikely to belong, but whose values and behaviours he or she adopts nevertheless.
The consumption-related groups that influence consumers’ attitudes and behavior are:
- friendship groups : provide companionships, security and opportunities to discuss problems.
Friendships are a sign of maturity and independence (from their family).
- shopping groups: reduce risk of incorrect purchases, more joy, shared experience of waiting
in line (social proof = standing in a crowd, shoppers see themselves as making the right
buying decision).
- virtual communities: the anonymity of the online environment allows people the freedom to
express their views and benefit from others’ views. Group members can post
recommendation.
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