Management and Organizational Studies 1023A/B Lecture 4: MOS review

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Maria Ferraro

Document Summary

Psychological influences on consumer behaviour (cid:120) motivation: what pushes you to satisfy a need" marketers want to inspire consumers to have a need" (cid:120) know the types of needs according to maslow"s hierarchy of needs. Physiological needs: food, water, shelter (cid:120) personality: person"s character and how that effects the way the behave and respond to things: ie. 3 (cid:131) back translation: taking what has been translated into a foreign language and translating it back to the original language by a different translator to catch errors. 4: experiments (ie. test market, compile, analyze, and interpret data, generate reports and recommendations. Individualized marketing involves customization for customers (cid:120) (cid:120) product differentiation: making your product stand apart from the competition (cid:120) steps in market segregation (cid:120) target market profiles geographics, demographics, psychographics, behavouristics. Classifying consumer and business products (cid:120) consumer products: convenience products, shopping products, specialty products, unsought products (cid:120) business products, production goods and services, support goods and services.