EM 2 Flashcards
What are the three types of customer values?
Psychological
Functional (performance)
Economic (price)
Brands that focus on which elements perform better?
On both emotional and functional elements
Which are the growth needs?
Self-transcendence
Self-actualization
Which are the deficiency needs?
Esteem
Love/Belonging
Safety
Physiological
What does successful marketing activate?
It activates need states
What are deficiency needs characterized by?
Sense of relief when met, anxiety when not
They poses hedonic adaptation
Physiological arousal
strong visceral state that occurs when physiological/safety needs are not met
More likely to spend more in this state
Empathy gap
low understanding between hot states (e.g., physical pain, hunger, anger) and cold states (calm, relaxation)
Marketing Around Love/Belongingness
Customer service (the humanized brand)• Anthropomorphized products
What kinds of esteem are there?
Social esteem and Self-esteem humans tend to struggle with the second one. So people focus on the social esteem.
Cognitive consistency?
The tendency for people to sample, accept, and retain informational items (i.e. beliefs and values) that are consistent with one another.
Self Positivity Bias
Thinking bad things happen to other people, but not to us. The marketing need is to convince the people that they are at risk
Characteristics of growth needs?
Do not suffer from hedonic adaptation They get stronger as they are pursued The pursuit of them brings satisfaction Activation feels good Connected to who we are Less urgent
What is self-actualization?
Achieving our full potential
How do we help our customer be the best version of themselves?
Why do experiences make us happier?
Experiences foster emotional connection
Experiential purchases contribute more to people’s identities
Experiences tend to be evaluated more on their own terms
Experiences are novel, varied, and unpredictable
