Quiz #2 (Chapters 4-6) Flashcards
Social Currency
- inner remarkability (provoke discussion, emphasize the good, defined as unusual/extraordinary)
- the need to participate
- to get people talking, companies need to mint social currency (give people a way to make themselves look good while promoting their products)
Triggers
give them a reason to talk
word of mouth
interesting products create buzz
sights, smells, and sounds
Emotion
- how it drives us to action
- the power of awe (more effective than sadness)
Public
- social influence
- the act of immitation
- making the private public- design ideas portray themselves
- behavioral residue livestrong wristbands
Stories
- memorable
- show if something will work
- get people sucked in the drama
- embed yourself/your product into the story
- emotional stores most impactful
Practical Value
- pay it forward
- deals, sharing what is useful to others
- psychological
- percentage or $ off/saving
In contagious he describes 6 “steps” so it is misleading TF
False; they are not actually steps
Targeting
with the aptitude to; to do it most efficiently
Three criteria predict who is most likely to buy again:
Recency: they purchased recently
Frequency: they purchase often
Monetary: they spend a lot of money
Profiling
For acquiring new customers, a targeting strategy is to profile current customers and look for potential customers with similar profiles.
How do consumers make brand decisions
the traditional view: need recognition information search evaluation of alternatives purchase decision post-purchase evaluation
Cultural Influences
Norms and Values
Norms: a culture’s boundaries for “proper” behavior
Values: the source of norms which represent underlying belief systems
Core Values; govern people’s attitudes
Social Influences
Social class:
income, wealth, education, occupation, family prestige, value of home, neighborhood
Reference groups:
teachers, religious leaders, political parties, religious groups, ethnic organizations, hobby-based clubs, fellow workers or students
family: most important
people related by blood, marriage, or adoption
a household cons
Psychological influences
Needs and Wants:
Needs are motivated by basic survival instincts
Wants are what we desire
Hierarchy of Needs: SElf-Actualization, Ego needs, belongings, safety, and physiology
Satisfaction- satisfied customers
Dissonance- cognitive dissonance, a conflict between thoughts, creates a state of tension
Motivation- a motive is an internal force that stimulates you to behave in a certain manner
Telemarketing
a form of personal sales but less expensive
inbound calls are initiated by a customer
outbound calls originate from the firm
issues: intrusion, privacy, fraud
The internet and new forms of direct response
combines strengths of direct mail and telemarketing
moves marketers to one-to-one marketing
three types of email campaigns:
Addressable to current customers
Addressable to prospects
Unsolicited and often unwanted, or spam
Direct Response
- Relies on communication sent directly to consumers.
- The response comes directly back to the source.
- Includes a strong focus on market research.
- Designed to elicit an immediate response.
