Business Notes

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Bsns 103 Key aspects: Culture: Language and symbols, norms, beliefs rituals. Affluenza: “The consumers disease” We want more and more, the more we have the more we want. Over consumption: (eg) Fast food leads to obesity. Having to have the latest model that is released. Driving cars = pollution. Purchasing decision model: • Identification/recognition • Info search (other options) • Alternative evaluation • Purchase and delivery • Post purchase evaluation Needs Wants Perception Senses Attitudes: • Affect (feelings) • Behaviour (intentions to act towards the object because of this attitude) • Cognition (beliefs about the object) eg. We convince ourselves why it is a good object. Balance theory: (eg) Bob doesn’t like…show more content…
Motivation: External, internal. Maslows Hierarchy of needs: • Self actualization • Esteem • Belonging and love • Safety • Physiological Flow: Being “in the zone” (eg) When running, playing sport etc. Needs a high level of involvement and skill. CarlJungs motivational theory of archetypes: - Stereotypical characteristics that define certain people, instincts. (eg) Harry Potter, he is a hero, we instantly know what characteristics a hero has. Brands Branding Brand equity • Brand loyalty • Perceived quality • Other brand assets • Name awareness • Brands associated • History of the brand Target markets Market segmentation – “dividing total market into several smaller groups that have smaller needs, and behaviours” • Market aggregation – Whole market • Multiple segment strategy – Different products for each group (eg) trim milk, lite milk, calci+milk etc. • Single segment concentration – Only targeting one group Communication Nostalgia: -Relates back to something you have seen before/can relate to. (eg)
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