MRKT 452 Lecture Notes - Lecture 5: Virtual Community, Social Proof, Milgram Experiment
28 Sep 2017
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Document Summary
High-reach, low-credibility: advertising, sales promos, publicity, special events, email/websites, direct mail, cell phone. Low-reach, low-credibility: salespeople, service reps, customer service agents. High-reach, high-credibility: news, reviews/critiques, program content, external endorsements, cultural heroes/heroines, clubs/organizations, virtual communities. Fairness: if i do something for you, you should do something for me. Seller: if i reduce my price you should buy my product better to first ask for too high price then lower it to price you actually wanted. Buyer: if i increase my price offer you should agree to sell better to start with lower offer then raise it to price you prefer. Consistency: get someone to do a small action, and later they are more likely to do a bigger action. Salesman offers price, goes to manager for price confirmation, comes back with price increase many customers accept higher price. Put loss leaders earlier in the store. O(cid:272)ial p(cid:396)oof: people te(cid:374)d to follow othe(cid:396) people"s (cid:271)ehaviour.
