Management and Organizational Studies 1021A/B Chapter Notes - Chapter 7: Toothpaste, Aspirin, Psychographic

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Annalise Ferro

Document Summary

What you do(cid:374)"t (cid:374)eed to k(cid:374)ow: womma (p 80, do(cid:374)"t (cid:374)eed to k(cid:374)ow custo(cid:373)s. P 95 marketing research, marketing info systems (don"t need to know about dashboards, analytics, brand marketing index) Psychological influences: psychology helps marketers understand why and how consumers behave as they do, motivation, perception, learning, personality, attitudes, values, beliefs, lifestyle. For example, traveling around the world helps enhance life experience: social culture contributes to our identification of these needs marketers must first understand our consumer needs in order to satisfy them, meeting ambitions, hopes, dreams. Self concept: the way people see themselves and the way people believe others see them: marketers appeal to these two self images in a product a person buys, actual self: how people actually believe others see them. Perceived risk: perceived risk: anxiety felt when a consumer cannot anticipate possible negative outcomes of a purchase but believes there may be negative consequences (anxiety felt before purchasing)