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BSNS103
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- 15 factor modelInfluences how secure we feel in our own identity and therefore how much we spend to uphold this - consuming is an addictive cycle, we are never fully satisfied
5 FACTORS:
- Openness
- Extraversion
- Agreeableness
- Neuroticism
- Conscientiousness
How we fit into this model also depends on other factors such as age, gender etc.
- E.g. women are more likely to seek a social response from consumption while men are focused on a personal response - 2Social LeadershipWho defines social values e.g. peers and celebs
- Celebrities endorsing products
- Whether we buy into this depends on our social role - 3IdentityThe way people represent themselves to the outside world
-Learned identities
- Created identities - 4SelfCognitive (perception) and affective (experience) representations of ones self
- Actual self: most purest form of self
- Ideal self: who you want to be
- Social self: who you want other to think you are (the area that drives visible consumption) - 5Self Discrepancy TheoryTheory explains the ultimate source of anxiety and dejection. Anxiety when we cannot fulfill our duties and obligations and dejection when we have not fulfilled our hopes and dreams. --> all essentially linked to wanting to achieve our ideal self which is essentially unattainable
We compare ourselves against internalised standards called 'self guides'
- One of the highest drivers behind consumer purchase - 6Theory of planned behaviourThe extent to which you have perceived control on your behaviour and outcomes of that
Often think about the consequences on the representation of self when deciding between our attitudes or influenced social norms
Self efficacy - beliefs about factors that would facilitate or impede the behaviour - 7Subcultures of consumptionPeople can recognise them straight away
Concepts of community - enjoy begin apart of a group but apart from mainstream
Out group homogeneity - 8Symbolic capitalThe sense that we have some sort of authority to belong to a group
Economic capital (financial resources) + Social capital (relationships, networks) + Cultural capital (unspoken capital) = symbolic capital
People attempt to fit into other groups through creating symbolic capital and status orientated consumption - 9Highly differentiated brand valueWhen a product acknowledges that there is already high saturation in the market and creates alternative
- 10PROSUMINGThe market is constructed with the input of the consumer
Alvin Toffler "if anyone wants to do well in business they need to work towards an intersection between consumer and producer - 11Consumer derived valuePeoples perceptions of value propositions, different for individuals as well as B2B
- 12Brand pricingPricing by market (differentiated)
Pricing by product - 13Relative perceived valuesDifference between the benefits to the customer and the cost to the customer
- 14The communication processsender --> message --> receiver
Messages are encoded by the sender and decoded by the receiver
There is noise that can effect the success of this as well as in the feedback loop
Fields of experience - what you are experiencing, these need to overlap in order for the message to be received - 15Reader response theoryThe interpreted meaning is not always the intended one
- 16Types of advertisementsInformational Simple: purely information in the form of text
Informational compound: information combined with persuasive images
Transformational Complex: Higher degree of meaning with the use of signs and symbols
Transformational Sophisticated: An even higher degree of meaning and usually target at the specific demographic - 17Basic innovation processOpportunity, identification and selection + concept generation + concept and project evaluation + development + launch
- 18Products LevelsCore (need)
Generic (minimum requirements)
Expected (normal features)
Augmented (distinguishing features, where competition takes place)
Potential (future benefits of product) - 19Classical decision process (consumer)Need recognition
Information search
Evaluation of alternatives
Choose/Purchase
Post purchase evaluation - 20Types of decision makingCognitive (thinking): The outcome of a series of stages of evaluation, it involves arriving at a maximum solution, rational process, time consuming
Affective (feeling): Making decisions based on an emotional reaction
Decision rules (heuristics): Employing a rule of thumb that do not always result in a perfect solution but an optimal/sufficient one - used to avoid cognitive demands - 21Types of decision rulesNon compensatory - one good attribute does not compensate for a bad one, there must be a minimum level of acceptability on all attributes
Compensatory - if one primary attribute is really strong it can make up for bad ones - 22Product AdvantageWhen you market your product to have a higher perceived value
Have to be careful of fast approaching competitors and that your differentiated points are stable - 23Adoption AdvantageHighlighting many different qualities/advantages of adopting this product
R.E.C.O.T.T
Relative Advantage: offering functional superiority
Ease Advantage: How easy it is to use and purchase
Compatibility Advantage: How well the product fits into your lifestyle, beliefs and needs
Observability Advantage: How observable the benefits are, value loaded message
Trial Advantage: How easy it is to trial and experiment before purchase
Trial by proxy advantage: The view of others, other people have trialled it and let you know what they think of it
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- Fichas sobre BSNS103, creado por tahliamoir el 04/08/2015.
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- tahliamoir
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