Business Notes

1272 Words Mar 9th, 2013 6 Pages
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
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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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