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Samenvatting - Consumer Behaviour (D0R13a) - prof Bart De Langhe €13,86
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  3. Katholieke Universiteit Leuven (KU Leuven)
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  5. Consumer Behaviour (D0R13A)

Samenvatting

Samenvatting - Consumer Behaviour (D0R13a) - prof Bart De Langhe
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Deze samenvatting van het van consumer behaviour gegeven door Bart De Langhe omvat alles besproken uit zijn lessen. Dit omvat de powerpoint maar ook extra informatie die hij heeft verteld. Het is iets meer dan 60 pagina's lang en omvat ook geen overbodige info. This summary of the Consumer Behav...

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Document informatie

  • 23 december 2024
  • 67
  • 2024/2025
  • Samenvatting

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Voorbeeld van de inhoud

CONSUMER BEHAVIOUR


INHOUDSOPGAVE

why study consumers? ................................................................................................................. 5

What is marketing? ...........................................................................................................................5

Reviews ...........................................................................................................................................5

Famous people in champagnes.........................................................................................................6

study with wine, Plassman et al. (2008) ..............................................................................................6

Study with ice cream ........................................................................................................................6

Study with songs ..............................................................................................................................7

what is a good costumer? ............................................................................................................. 7

thinkin trap 1: what is the secret to success................................................................................... 8

Brand value ......................................................................................................................................8
HOW MUCH ARE BRAND WORTH? .................................................................................................8
WHY DO BRANDS HAVE VALUE? ....................................................................................................8

BRAND AWARENESS ........................................................................................................................9
Brand recall ..................................................................................................................................9
Brand recognition .........................................................................................................................9

associative memory ..........................................................................................................................9

The questions of the 8 quizzes: ........................................................................................................ 10

Egocentrism ................................................................................................................................... 10

Egocentrism undermines effective marketing ................................................................................... 10

Does perspective taking help? ......................................................................................................... 10

People are overconfident ................................................................................................................ 11

Does negative feedback and searching for contradictory evidence reduce overconfidence? ............... 11

Prediction tournament .................................................................................................................... 12

Unknow unknows ........................................................................................................................... 13

thinking trap 2: How effective are (online) ads? .............................................................................13

Common advertising metrics .......................................................................................................... 13

HBR article: the offline impact of online ads ..................................................................................... 13

Correlation is not causation ............................................................................................................ 14

The purchase funnel ....................................................................................................................... 14

Do consumers visit the ebay website less if ebay stops with brand keyword search ads? .................... 14

Personalized ads ............................................................................................................................ 14

Are vaccines effective? ................................................................................................................... 15
Pfizer’s press release on November 9, 2020 .................................................................................. 15
Moderna’s press release on November 16, 2020 ........................................................................... 15



1

,CONSUMER BEHAVIOUR

2024 nobel in economics .............................................................................................................17

What can we learn from RCT’s on digital advertising platforms? ....................................................17

A/B TESTING .................................................................................................................................. 18

Divergent algorithmic targeting in ‘lift tests’ ...................................................................................... 18

Is the pink K ad more effective than the blue K ad? ............................................................................ 18

Is it possible to approximate true causal effects with non-experimental approaches? ........................ 19

What Is multi-attribute utility theory.............................................................................................19

Why should the rich get richer, and the poor get poorer? ................................................................... 20

The theory ...................................................................................................................................... 21

Multi-attribute utility ....................................................................................................................... 21
Multi-attribute view ..................................................................................................................... 21
conjoint analysis ......................................................................................................................... 22
More alternatives is better? ......................................................................................................... 22
Independence of alternatives ...................................................................................................... 23
3 alternatives .............................................................................................................................. 24

Should our professor buy travel cancellation insurance? ..............................................................26

nobel price of economics : kahneman ............................................................................................. 26
Prospect theory’s probability weighting function ...................................................................... 26
Its also emotional: availability heuristic...................................................................................... 27
Prospect theory of Kahneman (similar to bernouilli) ..................................................................... 28

Can we have a marshmallow? ......................................................................................................29

What do you want for DESSERT? ...................................................................................................... 29

What do you PREFER? .................................................................................................................... 29

RIchard H. THALER: nobel price winner economics .......................................................................... 30

summary ....................................................................................................................................... 31

How do cognitive limitations influence choice processing? ...........................................................31

Weighted additive rule .................................................................................................................... 32

equal weight heuristic ..................................................................................................................... 32
lexicographic heuristic ................................................................................................................ 32
elimination-by-aspects heuristic ................................................................................................. 32
Satisficing heuristic ..................................................................................................................... 33

Summary ....................................................................................................................................... 33

why do consumers often reject new products? .............................................................................34

Barriers to adaptation ..................................................................................................................... 34

Free trials....................................................................................................................................... 35

Goals as reference points ............................................................................................................... 35




2

,CONSUMER BEHAVIOUR

Purchase acceleration .................................................................................................................... 36

what explains the obesity crisis ...................................................................................................36

Why do people consume more calories? ......................................................................................... 36

Key lessions ................................................................................................................................... 37

How do cognitive limitations influence choice processing .............................................................37

When is accuracy high? .................................................................................................................. 37

Premium VS generic bandages ........................................................................................................ 38

S&P company description ............................................................................................................... 38

modified foods ............................................................................................................................... 39

Explanation reduces extremity ........................................................................................................ 40

The 4th meta-goal of choice processing .........................................................................................41

Which vacation spot do you prefer? ................................................................................................. 41

do you continue searching? ............................................................................................................ 41

Voting age ...................................................................................................................................... 42

Reading/listening to news ............................................................................................................... 42

united ............................................................................................................................................ 43

modern family ................................................................................................................................ 43

survey ............................................................................................................................................ 44

deodorant ...................................................................................................................................... 44

taxes ............................................................................................................................................. 44

How much are brands worth? .......................................................................................................45

What is the most valuable brand in the world? .................................................................................. 45

Why do brand have value? ...........................................................................................................45

Brand knowledge............................................................................................................................ 45

Associative memory ....................................................................................................................... 45

Limited attention ............................................................................................................................ 46

Brand recal .................................................................................................................................... 46

Brand recognition ........................................................................................................................... 46

Brand image ................................................................................................................................... 46

Attributes ....................................................................................................................................... 46

What really motivates people? .....................................................................................................48

So what? ........................................................................................................................................ 48

Why is PET such a challenge in beer? ............................................................................................... 49




3

, CONSUMER BEHAVIOUR

Markets today ................................................................................................................................ 49

Always take a step back .................................................................................................................. 49

Motivation bridges the gap between need and satisfaction ................................................................ 49

Models can help interpreting the collages ........................................................................................ 49

qualitative diagnostic research ........................................................................................................ 50

Continue discussion on why brands have value ............................................................................53

Affiliation/belonging........................................................................................................................ 54

Store brands (continue last session) ............................................................................................56

How you grow a brand-portfolio? ..................................................................................................56

Reduce price? Break even analysis .................................................................................................. 57

Renova – key learnings .................................................................................................................... 57

Measure ......................................................................................................................................58

What works .................................................................................................................................59

To improve ..................................................................................................................................59

Create awareness .......................................................................................................................61

Lead by example..........................................................................................................................61

Inspire to act ...............................................................................................................................61

Elaboration on brand knowledge: strength of brand association & uniqueness of brand assotiations
...................................................................................................................................................63

How do customers differ? ............................................................................................................64

Unobservable & general .................................................................................................................. 65

Ground truth: wea dked 300 men ..................................................................................................... 66

Product specific observable ............................................................................................................ 67




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