100% tevredenheidsgarantie Direct beschikbaar na betaling Zowel online als in PDF Je zit nergens aan vast
logo-home
Summary Psychology and Marketing (500855-M-6) Aantekingen lectures & readings €7,79   In winkelwagen

Samenvatting

Summary Psychology and Marketing (500855-M-6) Aantekingen lectures & readings

1 beoordeling
 38 keer bekeken  6 keer verkocht

ER KOMT 2024/2025 NIEUWE SAMENVATTING AAN. Na laatste lecture online ;) Een uitgebreide samenvatting van aantekeningen van lectures en readings

Laatste update van het document: 2 dagen geleden

Voorbeeld 4 van de 54  pagina's

  • 5 september 2023
  • 21 november 2024
  • 54
  • 2024/2025
  • Samenvatting
Alle documenten voor dit vak (1)

1  beoordeling

review-writer-avatar

Door: ProfKuijpers • 1 jaar geleden

avatar-seller
verhoevenmaud
Psychology and Marketing
Inhoud
Week 1..................................................................................................................................................... 3
Lecture 1: Introduction to marketing .................................................................................................. 3
Lecture 2: Guest lecture on Conversion rate optimisation ................................................................. 4
Additional reading Sharp, B. (2017). ‘What do Marketing Executives Do?’........................................ 7
Chapter 1: What Do Marketing Executives Do? .............................................................................. 7
Week 2..................................................................................................................................................... 8
Lecture 3: Buying behaviour................................................................................................................ 8
Reading 1: Ehrenberg, A. S., Uncles, M. D., & Goodhardt, G. J. (2004). Understanding brand
performance measures: using Dirichlet benchmarks. ........................................................................ 9
Case study on reading 1: Grow your share of wallet ........................................................................ 11
Lecture 4: Habits................................................................................................................................ 11
Reading 2: Wood, W. (2017). Habit in personality and social psychology. ....................................... 14
Reading 3: Labrecque, J. S., Wood, W., Neal, D. T., & Harrington, N. (2017). Habit slips: When
consumers unintentionally resist new products. .............................................................................. 17
Additional reading. Sharp, B. (2017). ‘What do Marketing Executives Do?...................................... 18
Chapter 2: Consumer Behaviour and Business Buyer Behaviour .................................................. 18
Chapter 3: Meaningful Marketing Metrics .................................................................................... 20
Week 3................................................................................................................................................... 25
Lecture 5: Branding ........................................................................................................................... 25
Reading 4: du Plessis, et al. (2024). The science of creating brand associations: A continuous Trinity
Model linking brand associations to learning processes................................................................... 28
Reading 5: Romaniuk, J., & Nenycz-Thiel, M. (2013). Behavioral brand loyalty and consumer brand
associations. ...................................................................................................................................... 29
Lecture 6: Stakeholder Marketing ..................................................................................................... 29
Reading 6: Sen, S., Du, S., & Bhattacharya, C. B. (2016). Corporate social responsibility: A consumer
psychology perspective. .................................................................................................................... 32
Reading 7: Silver, et al. (2021). Inauthenticity aversion: Moral reactance toward tainted actors,
actions, and objects........................................................................................................................... 33
Additional reading: Sharp, B. (2017). ‘What do Marketing Executives Do?...................................... 35
Chapter 11: Advertising ................................................................................................................. 35
Week 4................................................................................................................................................... 40
Lecture 7: Word-of-Mouth (WOM) ................................................................................................... 40
Reading 8: Berger, J., & Schwartz, E. M. (2011). What drives immediate and ongoing word of
mouth? .............................................................................................................................................. 43

, Reading 9: Villanueva, J., Yoo, S., & Hanssens, D. M. (2008). The impact of marketing-induced
versus word-of-mouth customer acquisition on customer equity growth. ...................................... 44
Week 5................................................................................................................................................... 45
Lecture 8: Influencer marketing ........................................................................................................ 45
Reading 9: Beichert, M., Bayerl, A., Goldenberg, J., & Lanz, A. (2024). Revenue generation through
influencer marketing. ........................................................................................................................ 47
Lecture 9: Pricing ............................................................................................................................... 48
Reading 10: Völckner, F. (2008). The dual role of price: decomposing consumers’ reactions to price
........................................................................................................................................................... 49
Reading 11: Xia, et al. (2004). The price is unfair! A conceptual framework of price fairness
perceptions........................................................................................................................................ 51
Additional reading: Sharp, B. 2017. ‘What do Marketing Executives do? ........................................ 52
Chapter 9: Pricing and discounting ............................................................................................... 52

,Week 1
Lecture 1: Introduction to marketing
A lot of products fail

- It is hard to say what makes a product successful and what not
- We cannot predict beforehand

But we can do things to create a good change to be successful→ marketing

- Is there a need/ want for it

Theodore Levitt:

- “A business suffers from marketing myopia when it defines its market too narrow, at the
level of the product rather than in terms of the customer needs”

What is marketing

= “A managerial process by which businesses try to create customer value through products and
services by doing so, aim to establish enduring, profitable customer relations”




We as consumers usually have a portfolio of brands that we choose from in a product category. So
most of us are brand switchers. This way, your buyers are the same as the buyers that buy from your
competition. So differentiating your brand is not really that important. We don’t select it on specific
characteristics, but we only distinguish brands with how they look like (the appearance). So don’t
distinguish the qualities, but the appearance.

Since we are switchers, the largest part of your consumers are one-time buyers (low-buyers). This
way, customer retention is more expensive than customer acquisition. Additionally, the best way to
promote yourself is to reach as much consumers as possible (as you don’t know who your consumers
are), so the focus is on mass marketing. Additionally, Price promotions are ineffective to increase
market share. Price is the most effective thing to affect sales; it has a big influence in buying
behaviour. BUT it does not have a long-term effect in the brand share.

With this, you do not need to know your loyal customers and brand recommendation is a poor
indication of brand strength. Attitudinal measures of quality and Perceived by the consumers are just
not that insightful.

Marketing science

, = “Empirical regularities of buying behaviour that repeat under known conditions”→ gain market
share

- Mental availability
o Customary Entry Points (CEPs)
▪ Can I easily remember it when I need to buy it
▪ Habits are important in marketing
o Distinctive assets
- Physical availability
o Presence (Is it available in the store or shop)
o Buyable (Can I easily buy it, is it affordable)
o Prominence (to stand out)

Lecture 2: Guest lecture on Conversion rate optimisation
What is CRO?

Conversion: completed goal

- Macro conversions
o Transaction, quote request
- Micro conversions
o Newsletter subscription, add to Wishlist, whitepaper download, page visit
- Conversion rate= number of (macro) conversions/ number of visitors * 100

Conversion optimisation is the practice of raising your conversion rate by compelling visitors to your
site to take specific actions like buying a product, downloading a PDF, or subscribing to a newsletter

One of the most commonly used techniques to optimise conversion rates is A/B testing

- With this method we can test the effect of changes on the website before we implement
them for every visitor

A/B testing

- Isolated experiment of a single element
- Randomised traffic allocation

More than conversion rate: strive for overall uplift of visitor effectivity

- Average order value
- Customer lifetime value
- Product returns

Psychology is an important part of CRO

- With CRO, we attempt to improve customer experience based on behaviour
- Etc.

Why CRO?

We’re not as rational as we think

System 1 vs system 2

95% is intuition and instinct, so system 1

Voordelen van het kopen van samenvattingen bij Stuvia op een rij:

Verzekerd van kwaliteit door reviews

Verzekerd van kwaliteit door reviews

Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!

Snel en makkelijk kopen

Snel en makkelijk kopen

Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.

Focus op de essentie

Focus op de essentie

Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper verhoevenmaud. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor €7,79. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 72042 samenvattingen verkocht

Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen

Start met verkopen
€7,79  6x  verkocht
  • (1)
  Kopen