Management and Organizational Studies 1021 Study Guide - Final Guide: Neuromarketing, Brand Loyalty, Selective Perception

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021
• Professor: Sarah Ross

Document Summary

Psychological influences (note: this is a very brief summary of the lecture material it should not be used as your only means of studying. Text material is not summarized here. : motivation maslow"s hierarchy of needs + criticisms. Sensation and perception coke vs. pepsi neuromarketing example: selective perception (filter information so only some is available, understood, or remembered, personality and self-concept. Selective exposure (pay attention to messages consistent with attitudes/beliefs) Selective comprehension (understand information in a way that fits with attitudes/beliefs) Interests (what you consider important e. g. , family: opinions (what people think of themselves and the world e. g. , politics) Segmentation, targeting, & positioning: 4 approaches to market segmentation: mass, segment, niche, individualized marketing, note: segment marketing focuses on multiple target groups, but designs different products to meet the needs of those different groups. Individual brand, family brand, brand extension, sub-brand: demand-oriented approaches: skimming, penetration, prestige, odd-even, competition-oriented approaches: below-market, loss leader, 3 types of brands: manufacturer"s, private label (store), generic.