Consumer Psychology - Assignment Example

? Consumer Psychology Exam Questions Consumer Psychology Exam Questions Section Question Some examples of purposeful marketinginclude Targets, Inc. marketing method, Dove’s inspiration program and The City’s bike endeavours (Muehling & Sprott, 2010). Target, Inc. showcases corporate social responsibility through donating 5% of its profits to communities. That totals roughly to $4 million each week. Another example to consider is Dove and its inspiration program. Dove is dedicated to assisting young women grow with a most positive self-image. The program centers on self-assurance as the foundation of beauty (Muehling & Sprott, 2010). They are dedicated to developing a positive self-esteem and motivating all girls and women to achieve their full potential. Finally, Citi Bank has join forces with The City, in New York City, for a bike program, which will literally change people’s lives. Bike shops are erect throughout the City and rent can rent bikes for one-way journeys to help them commute. This strategy is very effective because they portray an element of care to the customer, who becomes loyal to the business of brand (Muehling & Sprott, 2010). Question 2 Microsoft Corporation is one of the big companies to use nostalgia in its marketing campaigns. This was particularly in their new Internet Explorer commercial, released on January, 2013 (Myers, 2013). From The Oregon Trail to JNCO jeans to a Tamagotchi, the advert has basically all elements belonging to the 90’s, which also takes someone to a trip down memory lane. Nostalgia is particularly vital for advertising because no society is thought to lack nostalgic individuals (Myers, 2013). Also, when people think about the past, they always recall the fun and good moments and it is much cheaper to use images from the past to advertise. Nostalgia, therefore, ensures that the customer has some form of emotional attachment to the product (Myers, 2013). Question 3 The two part of the bring that are involved in perception include thalamus and superior temporal sulcus. The thalamus is a big, double lobed mass of grey matter covered below the cerebral cortex (Myers, 2013). The superior temporal sulcus, conversely, is the sulcus dividing the middle temporal gyrus and the superior temporal gyrus in the brain’s temporal lobe. The other region that is important in perception is the premotor cortex, which shows that the mirror neuron system is used for "filling in" the dots (Myers, 2013). Also, the temporal lobes are concerned in the preservation of visual memories, comprehending language, processing sensory input, emotion, storing new memories and deriving meaning. These areas might cause some connections or disconnections to the product by the client. For instance, people are psychologically connected to color yellow because they consider it a happy colour (Myers, 2013). Section 2 Question 1 Categorisation involves three stages: superordinate level, basic level and the subordinate level (Tooby, Cosmides & Barrett, 2005). Superordinate categories are placed at the peak of a folk taxonomy. They show a high level of generality and provide only very theoretical information, which is, at times, referred to as category-wide traits (Myers, 2013). They do not offer any particular configuration or gestalt of properties (Tooby, Cosmides & Barrett, 2005). Superordinate categories show a low degree of inclusion and consist of basic level categories. The basic level is the most ethnically significant and has the most crucial cognitive function (Tooby, Cosmides & Barrett, 2005). It is at this stage that the distinctions between entities are perceived as categories at this stage offer generic familiar gestalts because it is at this stage that the most common veneration of features of a group is found. Basic level classes, which are incorporated under superordinate level classes, show higher class insertion than subordinate level classes, having more members compared to superordinate categories. Nevertheless, superordinate classes show a higher degree of generalisation (Tooby, Cosmides & Barrett, 2005). Finally, subordinate level classes display low level of generalisation and a low level of class insertion. They have noticeably identifiable and highly detailed gestalts and many individuating-explicit features. Subordinate level classes are incorporate under basic level classes (Myers, 2013). In every culture, morality is simply and fundamentally similar. Whereas distinctions are present and, in some situations, differently placed, the necessities of humans regard good or bad stay the same (Tooby, Cosmides & Barrett, 2005). Taking innate thoughts away from morality, evolutionary scholars relate the principles of innate ideas to Charles Darwin’s natural selection theory (Myers, 2013). This is a concept that would endorse the acquisition of thoughts, which offer humans an edge in survival over those with a “blank slate” brain. Whereas this argument goes much deeper, this theory is the essence of the argument fashion by Darwin (Tooby, Cosmides & Barrett, 2005). Even without approval in wide scale human presence from existence from evolution, the theory of innate ideas being passed on, as well as forming in time due and passed on, helps in clarifying people’s numerous adaptations to the environment (Myers, 2013). It, addition, clarifies people’s ability to rapidly accept new surroundings so as to survive (Tooby, Cosmides & Barrett, 2005). It, therefore, appears that humans have an innate sense of survival, which dictates what they take in from their surroundings and maintain and leave behind what seems useless or meaningless (Tooby, Cosmides & Barrett, 2005). This is an innate sense, which is provoked by their surroundings and improved by it, but not developed through the environment in which they live. In business, the customer categorisation processes of a particular brand extension theoretically comprise of three stages, similar to the stages of categorisation (Myers, 2013). These stages are (1) impulsive start of the two most accessible classes at the category-based level that is category-based start of a parent brand, as well as its extension product class, (2) discernment of fit between the parent brand, as well as the expansion product class of its brand expansion at the category-based level, and finally (3) discernment of likeness between the parent brand along with its brand expansion at the category-based level and/or at the trait-based level. The categorisation model argues that brands can be regarded as categories due to their relations in consumer memory. The theory of brand categories can be characterised as the brand itself, which can cater as a category label that provokes the brand’s relations and vice versa (Tooby, Cosmides & Barrett, 2005). Whereas the “brand as a class label” is a prompt, which can trigger clients’ brand associations and evaluative reactions to the product, the “brand as a category” is a psychological symbol consisting of the brand’s main associations, as well as their evaluative values (Myers, 2013). An example of an advertisement that can be explained in terms of categorisation is an ad explained by Muehling & Sprott (2010) of Victoria Secrets, who were introducing their earrings. The earrings advertised by Victoria Secrets had the following features: beautifully set ornaments, completely sized earring stopper, appropriate for all forms of fashions, hypoallergenic, colour stay, insubstantial and simple on the eyes. Victoria Secrets earrings were definitely set with the finest touch (Muehling & Sprott, 2010). The earring stoppers, on the other hand, were entirely sized and simple to wear. The earrings were argued to go well with many fashions and even people who are sensitive to metal could safely wear these earrings. The sharp colour of the earrings could not be altered, no matter how long someone wears them. Someone’s ears will never sag when they put on these earrings (Muehling & Sprott, 2010). Finally, the simple designs will make the wearers look beautiful in every sense of the word. Question 2 Brand refers to the term, name, symbol, design, or any other element, which identifies one vendor’s product different from those of other vendors (Gobe, 2010). Originally, branding was used to differentiate one individual’s cattle from another's through means of a unique sign burned into the cow’s skin with a burning iron stamp and was afterwards used in marketing, business and advertising. A current case of a brand is Coca Cola that belongs or owned by the Coca-Cola Company (Gobe, 2010). Brand owners run their brands cautiously to establish shareholder value, and brand evaluation is a vital management technique, which ascribes a money value to a certain brand, and permits marketing venture to be managed (for instance, prioritised across a set of brands) to capitalise on shareholder value (Gobe, 2010). Even though, only acquired brands are seen on a company's product, the concept of putting a rate on a brand influences marketing managers to be centered on long-standing stewardship of the brand and supervision for value. A company’s brand is something greater than its trademark or logo (Gobe, 2010). Brand is the symbol, which stands for the firm’s work values, culture, actions, ethics and results. Growth over the past 10 years has made it much easier for small firms to develop a brand and popularise it amongst the crowd. Creating a great logo is the easiest way of conveying the values of one’s firm to their target market in an easy and successful way (Gobe, 2010). A firm should not need to ignore branding simply because it feels that they cannot afford to create a proper logo. Branding a business will be an achievement only if the firm popularises their brand amongst their target market (Gobe, 2010). Customers, stakeholders, potential clients, as well as competitors, should recognise what their business stands for when they observe the brand logo and other business symbols. Having well-built branding can stir up trust from a firm’s niche market (Gobe, 2010). This can interpret to the firm’s newsletters, advertisements and emails garnering a much greater response, and; therefore, raising sales. As individuals will already be committed to the firm’s brand, they will be sure that they will get value for time used reading your texts or researching your services or products. When a product is branded, the shopping time or period for clients is reduced as branded products can easily be recognised. The quality or superiority of the branded product or service is also unquestionably superior (Gobe, 2010). Also, the prices or value of branded goods are fixed by the producers or vendors, which means there are no frequent price fluctuations, and; therefore, the clients can go shop with fixed amount of money. Also, branded goods own responsibility for their usefulness (Gobe, 2010). Brand attributes refer to a series of phrases or words — implied in a firm’s brand promise, which the firm want to put in the minds of its target market (Gobe, 2010). In due course, as a result of the firm’s brand communications technique, it wants its target market to replicate these attributes back to them, as well as to others; also known as advantage segments and bright descriptors. In brand attributes, the asset is subtle plus is measured in terms of the value credited by a consumer or likely consumer to the service or product. Brand attributes translates into client goodwill and tendency to opt or buy a branded service or product (Gobe, 2010). It is measured through clarifying brand attributes perspective, determining brand attributes research objectives, understanding client brand attitude, identifying brand attributes elements to measure, measuring perceived brand segregation and quantitative and qualitative approaches to brand attributes data (Gobe, 2010). My brand name is Team Varsity, Inc. With an aim of strengthening the brand, I will guarantee product quality. I will ensure that my product continually performs well. I will thoroughly test all my products before introducing them to the consumer. I will randomly test the products to make sure that they are up to the level I expect. I will react quickly to client concerns. I will make it easy for my customers to give me feedback on my products. This is a cheap method to conduct market testing. I will need to respond to the client through making changes and adapting my products to gratify the feedback I receive. I will encourage endorsements. I will initiate an independent survey to test my products and give their endorsement. I will try to bring in some few celebrities or athletes, who use my product, and use their names in our advertisements. Finally, I will sponsor people or events. By sponsoring the right person or event, I can strengthen my brand image. It is vital to make sure I am one of the key sponsors for the person or event instead of a minor sponsor. I will create an association between the event and my brand image for the clients who will go to the event. References Gobe, M. (2010). Emotional branding: The new paradigm for connecting brands to people. New York: Allworth Press. Muehling, D., & Sprott D. (2010). The power of reflection: An empirical examination of nostalgia advertising. Journal of Advertising, 33(3), 25-35. Myers, D. (2013). Psychology (8th ed.). New York: Worth Publishers. Tooby, J., Cosmides, L., & Barrett, H. C. (2005). Resolving the debate on innate ideas: Learnability constraints and the evolved interpenetration of motivational and conceptual functions. In Carruthers, P., Laurence, S. & Stich, S. (Eds.), The Innate Mind: Structure and Content. NY: Oxford University Press. Read More