COMM 132 Study Guide - Midterm Guide: Plaintext, Railways Act 1921, Headache
29 Apr 2016
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Document Summary
Four p"s of marketing: product, price, place, promotion, consumer behaviour is all about reactions, ultimately care about choice, psychological processes that mediate effects of marketing stimuli on choice. Value and satisfaction: value and satisfaction are at the heart of marketing, values, interests, perception, grouping, rewards, cause response effect, marketing control the cause (4 p"s) Operant conditioning: shaping behaviours through reinforcement and punishment. (ex: monkey gets banana) Attitudes: the extent to which a particular object is viewed favourably vs. unfavourably. (come from past experiences and perceptions) Marketing myopia: the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Selling concept: profits through sales volume. (focus on existing products with promotion and selling) Marketing concept: profits through customer satisfaction. (focus on customer needs with integrated marketing) Societal marketing concept: make marketing decisions based on consumers wants, company interests and the long-term interests of both society and consumers.
