Diffusion is the process by which a new idea or new product is accepted by the market. The rate of diffusion is the speed with which the new idea spreads from one consumer to the next. Adoption is similar to diffusion except that it deals with the psychological processes an individual goes through, rather than an aggregate market process.
Porter's Five Forces Framework is a method of analysing the operating environment of a competition of a business. It draws from industrial organization (IO) economics to derive five forces that determine the competitive intensity and, therefore, the attractiveness of an industry in terms of its profitability. An "unattractive" industry is one in which the effect of these five forces reduces overall profitability. The most unattractive industry would be one approaching "pure competition", in which available profits for all firms are driven to normal profit levels. The five-forces perspective is associated with its originator, Michael E. Porter of Harvard University. This framework was first published in Harvard Business Review in 1979.
The technology acceptance model (TAM) is an information systems theory that models how users come to accept and use a technology.
Consumer behavior is the study of individuals, groups, or organizations 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, marketing and economics.
The loyalty business model is a business model used in strategic management in which company resources are employed so as to increase the loyalty of customers and other stakeholders in the expectation that corporate objectives will be met or surpassed. A typical example of this type of model is: quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability.
In marketing, promotion refers to any type of marketing communication used to inform target audiences of the relative merits of a product, service, brand or issue, most of the time persuasive in nature. It helps marketers to create a distinctive place in customers' mind, it can be either a cognitive or emotional route. The aim of promotion is to increase brand awareness, create interest, generate sales or create brand loyalty. It is one of the basic elements of the market mix, which includes the four Ps, i.e., product, price, place, and promotion.
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 with 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.
Computer user satisfaction is the attitude of a user to the computer system (s)he employs in the context of his/her work environments. Doll and Torkzadeh's (1988) definition of user satisfaction is, the opinion of the user about a specific computer application, which they use. In a broader sense, the definition of user satisfaction can be extended to user satisfaction with any computer-based electronic appliance. However, scholars distinguish between user satisfaction and usability as part of Human-Computer Interaction. Successful organisations have systems in place which they believe help maximise profits and minimise overheads. It is therefore desirable that all their systems succeed and remain successful; and this includes their computer-based systems. According to key scholars such as DeLone and McLean (2002), user satisfaction is a key measure of computer system success, if not synonymous with it. However, the development of techniques for defining and measuring user satisfaction have been ad hoc and open to question. The term Computer User Satisfaction is abbreviated to user satisfaction in this article.
The following outline is provided as an overview of and topical guide to marketing:
A touchpoint can be defined as any way consumers can interact with a business organization, whether it be person-to-person, through a website, an app or any form of communication. When consumers come in contact with these touchpoints it gives them the opportunity to compare their prior perceptions of the business and form an opinion.
Customer engagement is an interaction between an external consumer/customer and an organization through various online or offline channels. For example, Hollebeek, Srivastava and Chen's S-D logic-informed definition of customer engagement is "a customer’s motivationally driven, volitional investment of operant resources, and operand resources into brand interactions," which applies to online and offline engagement.
Consumer-generated advertising is advertising on consumer generated media. This term is generally used to refer to sponsored content on blogs, wikis, forums, social networking services, and individual websites. This sponsored content is also known as sponsored posts, paid posts, or sponsored reviews. The content includes links that point to the home page or specific product pages of the website of the sponsor. Examples include Diet Coke and Mentos videos, the "Crush on Obama" video, and Star Wars fan films. Companies that have employed consumer-generated ads include Subaru North America, McDonald's, Rose Parade, and Toyota North America.
Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but they must be able to recall enough distinguishing features for purchasing to proceed. Creating Brand Awareness is the main step in advertising a new product or bringing back the older brand in light.
The unified theory of acceptance and use of technology (UTAUT) is a technology acceptance model formulated by Venkatesh and others in "User acceptance of information technology: Toward a unified view". The UTAUT aims to explain user intentions to use an information system and subsequent usage behavior. The theory holds that there are four key constructs: 1) performance expectancy, 2) effort expectancy, 3) social influence, and 4) facilitating conditions.
The service recovery paradox (SRP) is a situation in which a customer thinks more highly of a company after the company has corrected a problem with their service, compared to how they would regard the company if non-faulty service had been provided. The main reason behind this thinking is that successful recovery of a faulty service increases the assurance and confidence from the customer.
Service recovery is a company's resolution of a problem from a dissatisfied customer, converting them into a loyal customer. It is the action a service provider takes in response to service failure. By including also customer satisfaction into the definition, service recovery is a thought-out, planned, process of returning aggrieved/dissatisfied customers to a state of satisfaction with a company/service Service recovery differs from complaint management in its focus on service failures and the company's immediate reaction to it. Complaint management is based on customer complaints, which, in turn, may be triggered by service failures. However, since most dissatisfied customers are reluctant to complain, service recovery attempts to solve problems at the service encounter before customers complain or before they leave the service encounter dissatisfied. Both complaint management and service recovery are considered as customer retention strategies Recently, some researches proved that strategies such as value co-creation, follow up, etc. can improve the effectiveness of service recovery efforts
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:
Channel expansion theory (CET) states that individual experience serves as an important role in determining the level of richness perception and development towards certain media tools. It is a theory of communication media perception that incorporates experiential factors to explain and predict user perceptions of a given media channel. The theory suggests that the more knowledge and experience users gain from using a channel, the richer they perceive the medium to be. The more experience, the more stable the knowledge base the person builds, the more knowledge he gains from the given media channel, thus the richer communication he would have using that channel, and ultimately the richer he would perceive the channel. There are four experiential factors that shapes individual's perceived media richness: experience with the channel, experience with the message topic, experience with the organizational context, and experience with a communication partner.
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.
