Related Research Articles
Marketing is the act of satisfying and retaining customers. It is one of the primary components of business management and commerce.
Brand equity, in marketing, is the worth of a brand in and of itself – i.e., the social value of a well-known brand name. The owner of a well-known brand name can generate more revenue simply from brand recognition, as consumers perceive the products of well-known brands as better than those of lesser-known brands.
Psychological pricing is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. There is evidence that consumers tend to perceive just-below prices as being lower than they actually are, tending to round to the next lowest monetary unit. Thus, prices such as $1.99 may to some degree be associated with spending $1 rather than $2. The theory that drives this is that pricing practices such as this cause greater demand than if consumers were perfectly rational. Psychological pricing is one cause of price points.
In marketing, publicity is the public visibility or awareness for any product, service, person or organization. It may also refer to the movement of information from its source to the general public, often via the media. The subjects of publicity include people of public recognition, goods and services, organizations, and works of art or entertainment.
Product placement, also known as embedded marketing, is a marketing technique where references to specific brands or products are incorporated into another work, such as a film or television program, with specific promotional intent. Much of this is done by loaning products, especially when expensive items, such as vehicles, are involved. In 2021, the agreements between brand owners and films and television programs were worth more than US$20 billion.
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing, but has become an interdisciplinary social science that blends elements from psychology, sociology, social anthropology, anthropology, ethnography, ethnology, marketing, and economics.
Marketing communications refers to the use of different marketing channels and tools in combination. Marketing communication channels focus on how businesses communicate a message to its desired market, or the market in general. It is also in charge of the internal communications of the organization. Marketing communication tools include advertising, personal selling, direct marketing, sponsorship, communication, public relations, social media, customer journey and promotion.
As part of consumer behavior, the buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives.
Country of origin (CO) represents the country or countries of manufacture, production, design, or brand origin where an article or product comes from. For multinational brands, CO may include multiple countries within the value-creation process.
A lifestyle brand is a brand that attempts to embody the values, aspirations, interests, attitudes, or opinions of a group or a culture for marketing purposes. Lifestyle brands seek to inspire, guide, and motivate people, with the goal of making their products contribute to the definition of the consumer's way of life. As such, they are closely associated with the advertising and other promotions used to gain mind share in their target market. They often operate from an ideology, hoping to attract a relatively high number of people and ultimately become a recognised social phenomenon.
The target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to the previously intended audience. In marketing and advertising, the target audience is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message.
Influencer marketing is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field. Influencers are someone with the power to affect the buying habits or quantifiable actions of others by uploading some form of original—often sponsored—content to social media platforms like Instagram, YouTube, Snapchat, TikTok or other online channels. Influencer marketing is when a brand enrolls influencers who have an established credibility and audience on social media platforms to discuss or mention the brand in a social media post. Influencer content may be framed as testimonial advertising.
Customer experience is the totality of cognitive, affective, sensory, and behavioral customer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages.
A brand is a name, term, design, symbol or any other feature that distinguishes one seller's good or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Brand names are sometimes distinguished from generic or store brands.
Choice architecture is the design of different ways in which choices can be presented to decision makers, and the impact of that presentation on decision-making. For example, each of the following:
Color psychology is the study of hues as a determinant of human behavior. Color influences perceptions that are not obvious, such as the taste of food. Colors have qualities that can cause certain emotions in people. How color influences individuals may differ depending on age, gender, and culture. Although color associations can vary contextually between cultures, color preference is thought to be relatively uniform across gender and race.
Word-of-mouth marketing differs from naturally occurring word of mouth, in that it is actively influenced or encouraged by organizations. While it is difficult to truly control WOM, research has shown that there are three generic avenues to 'manage' WOM for the purpose of WOMM:
Fan loyalty is the loyalty felt and expressed by a fan towards the object of his/her fanaticism. Fan Loyalty is often used in the context of sports and the support of a specific team or institution. Fan loyalties can range from a passive support to radical allegiance and expressions of loyalty can take shape in many forms and be displayed across varying platforms. Fan loyalty can be threatened by team actions. The loyalties of sports fans in particular have been studied by psychologists, who have determined several factors that help to create such loyalties.
The country-of-origin effect (COE), also known as the made-in image and the nationality bias, is a psychological effect describing how consumers' attitudes, perceptions and purchasing decisions are influenced by products' country of origin labeling, which may refer to where: a brand is based, a product is designed or manufactured, or other forms of value-creation aligned to a country. Since 1965, it has been extensively studied by researchers.
Oded Lowengart is Professor of Marketing at the Ben-Gurion University of the Negev (BGU) in Israel, where he holds the Ernest Scheller Jr. Chair in Innovative Management and is Head of the Department of Business Administration. His two terms as Dean of the Guilford Glazer Faculty of Business and Management (2013–18) saw to opening the International MBA Program, expanded global programs, and increased Journal Citation Reports-ranked research publications.
References
- 1 2 Gunasti, Kunter; Ross, William T. (2010). "How and When Alphanumeric Brand Names Affect Consumer Preferences". Journal of Marketing Research . 47 (6): 1177–1192. doi:10.1509/jmkr.47.6.1177. S2CID 146557666.
- ↑ Pavia, Teresa A.; Arnold Costa, Janeen (1993). "The Winning Number: Consumer Perceptions of Alpha-Numeric Brand Names". Journal of Marketing . 57 (3): 85–98. doi:10.2307/1251856. JSTOR 1251856.
- ↑ Boyd, Colin W. (1985). "Point of View: Alpha-Numeric BrandNames". Journal of Advertising Research . 25 (5): 48–52.
- ↑ Kara, Selcan; Gunasti, Kunter; Ross, Willam (2015). "Is It the "Alpha" or the "Numeric"?: Consumers' Evaluation of Letter versus Number Changes in Alphanumeric Brand Names". Journal of Brand Management. 2015 (6): 515–533. doi:10.1057/bm.2015.28. S2CID 256512336.
- ↑ Gunasti; Kunter; Ozcan, Timucin (2016). "Consumer Reactions to Round Numbers in Brand Names". Marketing Letters. 27 (2): 309–322. doi:10.1007/s11002-014-9337-7. S2CID 254793736.
- ↑ Gunasti, Kunter; Devezer, Berna (2016). "How Competitor Brand Names Affect Within-Brand Choices". Marketing Letters. 27 (4): 715–727. doi:10.1007/s11002-015-9374-x. S2CID 254797548.
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