3- Marketing Flashcards
what are the advantages and disadvantages of a simple identity
advantages - facilitates valuation and attracts employer attention
disadvantages - restricts future identities
what are the advantages and disadvantages of a complex identity
advantages- greater flexibility and broad set of skills
disadvantages- risk of confusion for audience, and lack of skill
role theory
role distance describes the extent to which an actors identity is confined to a role
labeling theory
identity tag restricts an actor’s ability to move in a way that’s inconsistent with the attribution.
neo instutional theory
going against established norms can confuse people and lead to rejection for creative professionals with multifaceted identities.
niche width theory
suggests that a generalist identity is advantageous in a volatile environment, yet disadvantageous in stable markets.
resource partition theory
in specific environments, generalists and specialists can coexist by sharing resources and niches without intense competition.
typecasting
the practice of categorizing individuals in the labor market based on factors like skill, ability, and past work experience.
what are the implications of typecasting
1) limitations on identity: typecasting can limit individuals by defining them solely on their perceived abilities and past work
2) make the client always attract similar kinds of work
social identity theory
individuals are inclined to participate in activities and back institutions that reflect their core identities. This means people are naturally drawn to things that resonate with who they are, what they believe in, and the groups they identify with.
social identification
when you feel like you belong to a group, and as a result, you think of yourself as a member of that group.
organizational identification
when a person identifies with an organization, they feel connected to it and define themselves in terms of that organization.
What leads an individual to have MORE identification with an organization? (4)
1) perceived organizational prestige
2) expected services
3) contact frequency
4) membership length
what leads individuals to have LESS identification with an organization?
membership to similar organizations
what leads individuals to NOT MUCH CHANGE in their identification with an organization?
1) donation
2) membership visibility
how to create organizational identification? (5)
1) Dedication to the customer
2) Customer support groups
3) Opportunities for public displays of association
4) Active alignment of and support of social causes
5) Distinctive HR policies
strategic market orientation
concept that measures a company’s focus on understanding and managing its competitive environment.
what are the three dimensions of strategic market orientation?
1) customer
2) competitor
3) product
Characteristics of a non-profit professional theater:
High rate of innovation
Low level of competition
Uncertain demand
Stable customer base
how does customer orientation affect performance
customer orientation has a negative association with performance. this is because customers seek novelty and innovation.
how does competitor orientation affect audience size?
there are ambigious results for the effect of competitor orientation and performance
how does product orientation affect firm performance?
there’s no positive association.
-> concentrating solely on product features might not resonate with the theater’s audience. The theater experience is multidimensional, involving not just the content but also the ambiance, customer service, and overall emotional connection.
-> Marketing departments in artistic organizations
Focusing on promotion, pricing, packaging, and customer service- emphasizing developing solid social relations with loyal customers
what is a supply problem faced by the art market?
The primary art market faces a surplus of artists, leading to heightened competition. This surplus saturates the market, making it challenging for individual artists to stand out.
what’s a problem with demand in art markets?
Demand for artworks in the primary market is highly volatile and influenced by numerous factors like economic conditions, cultural trends, and buyer preferences. This uncertainty creates a challenging environment for artists and sellers.
what’s a problem with quality standards in art markets?
Unlike standardized products, art lacks universally agreed-upon quality metrics. Evaluation methods vary, often relying on subjective judgments and intersubjective consensus, making it intricate to assess the true value of artworks objectively.
Dynamics of Art Markets (6)
1) Oversupply of Producers
2) Uncertain Demand
3) Lack of Objective Quality Standard
4) Selection Based on third party signals
5) Intersubjective Evaluations
6) Extreme Inequality in Success
what do third party signals encompass?
art reviews, awards, and gallery affiliations
-> they act as indicators of an artist’s credibility and talent
How do signals from outside sources, like positive reviews, awards, and gallery affiliations, affect an artist’s chance of selling their art to expert buyers?
When artists receive positive signals from credible sources, like respected critics or renowned galleries, it significantly boosts their chances of making sales. These signals act like endorsements, making buyers more interested in the artist’s work.
Do signals from well-known sources influence buyers more than signals from lesser-known ones? Does the credibility of the signal matter?
Yes, signals from famous critics or prestigious galleries have a stronger influence on buyers. If a respected art critic praises an artist, it carries more weight than a lesser-known person’s praise. The credibility of the source greatly affects how buyers perceive the artist’s work.
Do these signals continue to influence buyers over a long time, or do they lose their impact as time passes?
The influence of these signals fades away slowly. If an artist gets a positive review from a famous critic, it continues to help their career, although its impact lessens gradually over time. Fresh and recent signals matter more, but past positive signals still have some lasting effect.
