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R E V I E W

What Have WeUn-Covered &

Dis-Covered until

now

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now

S E G M E N T A T I O NEveryone is not your customer

Everyone need not be a customer

It is hard to satisfy everyone

It is easier to satisfy select customers

It is easier to retain current customers

than recruit new customers

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S E G M E N T A T I O N

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S E G M E N T A T I O N Simplicity and Cost-Effectiveness of Assigning

Potential Buyers to Segments

Potential for Increased Profit

Similarity of Needs of Potential Buyers

Within a Segment

Potential of a Marketing Action to Reach

a Segment

Difference of Needs of Buyers Among Segments

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S E G M E N T A T I O N

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M O T I V A T I O N

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M O T I V A T I O N

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M O T I V A T I O N

Types of Motivational

Conflict

Approach-approach: deciding between twodesirable options

Avoidance-avoidance: deciding between twoundesirable options

Approach-avoidance: behavior that has both

positive and negative consequences.

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P E R C E P T I O NFive senses

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P E R C E P T I O N

MotivationsPast ExperiencesExpectationsFrequencyRecency

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P E R C E P T I O N

Selective Perception

Selective exposure/attentionSelective Blocking/defense

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L E A R N I N GIt is the cognitive process of acquiring skilland knowledge; learning is the acquisitionand development of memories andbehaviors, including skills, knowledge,understanding, values, and wisdom.

Learning is defined as the change in thecontent and/or structure of ones memory

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L EA R N I N G

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L E A R N I N G

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A T T I T U D E

Attitude is a learnedpredisposition towards an objector concept that moderates andinfluences eventual behaviors

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A T T I T U D E

BI

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A T T I T U D E

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A T T I T U D E

Beliefis the knowledge,perceptions, or inferences

an individual has about atarget object

Affectis the emotion orfeeling an individual hasabout a target object

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A T T I T U D E

Multi-Attribute Model

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A T T I T U D E

Ideal Point Model

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A T T I T U D E

Change Evaluative Belief

Change WeightChange Number of

AttributesChange Ideal Point

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ATTITUDE:Elaboration-Likelihood Model

Message

unimportant,

uninteresting

Heuristic

processing

Nonverbal

cues

important

Argumentstrength

unimportant

Message

important,

interesting

Systematic

processing

Nonverbal

cues

unimportant

Argument

strength

important

Peripheral Route

Central Route

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PSYCHOLOGY MEETS ECONOMICS

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B E H A V I O R A LE C O N O M I C S

Framing Effects

Certainty Effects

Social Norms Effects

Status Quo Effects

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C O M M U N I C A T I O N

Sender, ReceiverEncoding, Decoding

Message, Media, and Noise

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Source

Channel ofCommunication

Message

Receivers

blah

blah

blah

Context

C O M M U N I C A T I O N

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Who is the source? What is the message? Who is thetarget? How would you decode this ad?

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Who is the source? What is the message? Who is the target? How would you

decode this ad?

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C O M M U N I C A T I O N

Advertising

Broadcast still useful, but less so than before

Narrowcast growingly important and useful

Print

less important, but less expensive

Outdoor has a strong supporting role

Internet growing, but very ephemeral

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C O M M U N I C A T I O N

Sales promotion

Discount, Coupons, etc.

Public relations Press releases, Sponsorships, Special

Events, etc.

Personal Selling Sales Seminars, Trade Shows, etc.

Direct marketing

Catalogs, Telemarketing, Internet, Kiosks

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C O M M U N I C A T I O N

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C O M M U N I C A T I O N

What willbe said

How it willbe said

When itwill be said

Where itwill be said

Who willsay it

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We Just Completedour Review