Related Research Articles
Loss aversion is a psychological concept that has been increasingly applied in the field of economic analysis. Finance and insurance are the economics fields with the most active applications. Loss aversion refers to how outcomes are interpreted as gains and losses where losses are subject to more sensitivity in people's responses compared to equivalent gains acquired. Kahneman and Tversky (1992) have suggested that losses can be twice as powerful, psychologically, as gains. When defined in terms of the utility function shape as in the Cumulative Prospect Theory (CPT), losses have a steeper utility than gains, thus being more "painful" than the satisfaction from a comparable gain as shown in Figure 1. Loss aversion was first proposed by Amos Tversky and Daniel Kahneman as an important framework for Prospect Theory - an analysis of decision under risk.
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.
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit, its less-than-emotional engagement and commitment. Businesses whose financial and ethical values rest in large part on their brand loyalty are said to use the loyalty business model.
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.
Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customers play an important role and are essential in keeping a product or service relevant; it is, therefore, in the best interest of the business to ensure customer satisfaction and build customer loyalty.
Celebrity branding or celebrity endorsement is a form of advertising campaign or marketing strategy which uses a celebrity's fame or social status to promote a product, brand or service, or to raise awareness about an issue. Marketers use celebrity endorsers in hopes that the positive image of the celebrity endorser will be passed on to the product's or brand's image. Non-profit organizations also use celebrities since a celebrity's frequent mass media coverage reaches a wider audience, thus making celebrities an effective ingredient in fundraising.
A brand community is a concept in marketing and consumer research which postulates that human beings form communities on the basis of attachment to a brand or marque. A brand community refers to structured social relationships in which participants share admiration and connection of a brand that they experience through shared rituals, traditions and a sense of responsibility towards other members. The term often refers to the intersection between brand, individual identity and culture.
Engagement marketing, sometimes called "experiential marketing", "event marketing", "on-ground marketing", "live marketing", "participation marketing", "Loyalty Marketing", or "special events", is a marketing strategy that directly engages consumers and invites and encourages them to participate in the evolution of a brand or a brand experience. Rather than looking at consumers as passive receivers of messages, engagement marketers believe that consumers should be actively involved in the production and co-creation of marketing programs, developing a relationship with the brand.
Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. Its development during the 1990s and 2000s changed the way brands and businesses use technology for marketing. As digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly use digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e-books, and optical disks and games have become commonplace. Digital marketing extends to non-Internet channels that provide digital media, such as television, mobile phones, callback, and on-hold mobile ring tones. The extension to non-Internet channels differentiates digital marketing from online marketing.
Customer experience (CX) is a totality of cognitive, affective, sensory, and behavioral consumer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Nihat Tavşan and Can Erdem bring an extensive elucidation to the customer experience, encompassing the dimensions of consciousness, subjectivity, and interactional nature and define customer experience as the sum of subjective ideas regarding a product or service that occur at a conscious or subconscious level due to direct or indirect interaction of a customer with brand-related stimuli. Pine and Gilmore described the experience economy as the next level after commodities, goods, and services with memorable events as the final business product. Four realms of experience include esthetic, escapist, entertainment, and educational components. Tavşan and Erdem divided the customer experience into four categories based on the levels of cognitive and physical involvement of customers. These four categories are euphoric experiences, captive experiences, mellowing experiences, and conductive experiences.
Itamar Simonson is a professor of marketing, holding the Sebastian S. Kresge Chair of Marketing in the Graduate School of Business, Stanford University. He is known for his work on the factors that determine the choices that buyers make. His academic career started at the University of California at Berkeley, where he taught for six years, before he moved to Stanford. Many of his former PhD students hold senior positions at some of the best universities in the world.
Service quality (SQ), in its contemporary conceptualisation, is a comparison of perceived expectations (E) of a service with perceived performance (P), giving rise to the equation SQ=P-E. This conceptualistion of service quality has its origins in the expectancy-disconfirmation paradigm.
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:
Sensory branding is a type of marketing that appeals to all the senses in relation to the brand. It uses the senses to relate with customers on an emotional level. It is believed that the difference between an ordinary product and a captivating product is emotion. When emotion flows in the marketplace, your product shines. When there is no emotion from the product, customers lack the enthusiasm and passion that launches a product to success. Brands can forge emotional associations in the customers' minds by appealing to their senses. A multi-sensory brand experience generates certain beliefs, feelings, thoughts and opinions to create a brandgon image in the consumer's mind.
Postmodern Marketing is a term derived from postmodern philosophical movements where there are cultural tendencies of inherent suspicion towards a global cultural narrative or meta-narrative. Postmodern marketing takes this same philosophical perspective and applies it to the way advertising initiatives are handled in the current post-World War II era. Postmodern marketing is approaching or has passed through a new era in advertising, branding, and strategic brand thinking. Postmodern marketing is inherently focused on customized experiences where broad market generalizations are no-longer applied or implemented on behalf of branded communications. Instead, the technique requires marketers to remove "new aged adlandia" trends and developments to focus on how the consumer prefers to be messaged to.
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.
AISDALSLove, is a hierarchy of effects model in advertising adapted from AIDA's hierarchy of effects model which has been used by many researchers, both academicians and practitioners, to measure the effect of an advertisement.
A consumer-brand relationship, also known as a Brand Relationship is the relationship that consumers think, feel, and have with a product or company brand. For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand attitudes, brand loyalty, repeat purchase, customer lifetime value, customer advocacy, and communities of like-minded individuals organized around brands. Research has progressed with inspiration from attitude theory and, later, socio-cultural theories, but a perspective introduced in the early 1990s offered new opportunities and insights. The new paradigm focused on the relationships that formed between brands and consumers: an idea that had gained traction in business-to-business marketing scholarship where physical relationships formed between buyers and sellers.
An annoyance factor, in advertising and brand management, is a variable used to measure consumers' perception level of annoyance in an ad, then analyzed to help evaluate the ad's effectiveness. The variable can be observed or inferred and is a type that might be used in factor analyses. An annoyance effect is a reference to the impact or result of an annoying stimulus, which can be a strategic aspect of an advertisement intended to help a message stick in the minds of consumers. References to annoyance effects have been referred to as annoyancedynamics. While the words "factor" and "effect," as used in the behavioral sciences, have different meanings, in casual vernacular, they have been used interchangeably as synonymous. A more general or umbrella term would simply be advertising annoyance.
Online brand defense is a concept in consumer behavior. It refers to the situation where a consumer defends a brand against criticisms on online platforms. The reason why a consumer does this varies. It might be due to attachment to the brand. It could also be due to belief in the brand's high product quality leading to the perception that the criticisms are unjustified.
References
- ↑ Krishnamurthy, Sandeep; Kucuk, S. Umit (November 2009). "Anti-branding on the internet". Journal of Business Research. 62 (11): 1119–1126. doi:10.1016/j.jbusres.2008.09.003.
- ↑ Abougomaah, Naeim H.; Schlacter, John L.; Gaidis, William (April 1987). "Elimination and Choice Phases in Evoked Set Formation". Journal of Consumer Marketing. 4 (4): 67–72. doi:10.1108/eb008212. ISSN 0736-3761.
- ↑ Kucuk, S. Umit (2019), "What Is Brand Hate?", Brand Hate, Cham: Springer International Publishing, pp. 23–48, doi:10.1007/978-3-030-00380-7_2, ISBN 978-3-030-00379-1, S2CID 240205459 , retrieved 2021-11-23
- ↑ Whan Park; Andreas B. Eisingerich & Jason Whan Park (2013). "Attachment-aversion (AA) model of customer-brand relationships". Journal of Consumer Psychology. 23 (2, April 2013): 229–248. doi:10.1016/j.jcps.2013.01.002.
- ↑ "Why We Love it or Hate It: The Three E's | Marshall Insights Newsletter | USC Marshall School of Business". Archived from the original on 2015-11-26. Retrieved 2015-11-12.
- ↑ Hegner, Sabrina M.; Fetscherin, Marc; van Delzen, Marianne (2017-03-20). "Determinants and outcomes of brand hate". Journal of Product & Brand Management. 26 (1): 13–25. doi:10.1108/JPBM-01-2016-1070. ISSN 1061-0421.
 | This marketing-related article is a stub. You can help Wikipedia by expanding it. |