MARK20100 Lecture Notes - Lecture 12: Uncharted
Document Summary
Why is happiness a marketing topic: consumers make choices to maximize happiness, promise of happiness should be ensured to consumers. Example: can be happy about finding something that you lost or can be happy about life in general. How is happiness different from meaning: what makes us happy, happiness can be broken down into three areas, set point (50%) Defined as the central or expected value within a person"s set range. May be genetically determined some people are just naturally more happy than others. Is stable over time and often difficult to influence: circumstances (10%) Happiness determined by situational factors: uncharted (40%) Generally speaking, it was found that money cannot buy happiness seen at all levels including individuals and countries. Spending 21843$ on experiences leads to greater happiness than spending it on material goods. Spending 21843$ on others leads to greater happiness than spending in on yourself: what makes you happy may not necessarily make me happy .
