Marketing lecture 6

Groups and social networks

Membership groups
-groups with direct influence and to which you belong to

Aspirational group
-group an individual wish to belong to

Reference group
-groups that form a comparison or reference forming attitudes or behaviours

Characteristics
 Online social networks
 Buzz marketing
 Social media sites
 Virtual worlds
 Word of mouth
 Opinion leaders

11 life stages
Your previous comparison group can affect your behaviour, (nostalgia)as well as
your aspiration group.

Occupation affects the goods and services bought by consumers.

Economic situations include trends in:
-spending
-personal income
-savings
-interest rates

Culture will affect your spending, such as people not buying a house in Czechia or
people being pressured into buying a house in Italy.

Personal factors
lifestyle
-e.g. the body shop and other sustainable products which will affect a group of
people with that specific lifestyle.
personality
-unique characteristics

Brand personality traits

-sincerity, sophistication, competence, excitement, sincerity

Maslow’s hierarchy of needs

self-actualization
eeds (self-
development)

esteem needs (status)

social need (love, ingroup)

safecty needs

basic needs
(food, water )

Phycological factors
Selective attention-we screen out most things automatically as its easier for the brain
(skipping adds automatically)
Selective distortion- interpreting information that will support what they already have
(e.g. psychological fact that we group people, objects, activities etc. In order for our
brain to process things faster, however this creates preconceived bias and
stereotypes, but it is a natural human way for the brain to operate)
Selective retention-tendency to remember made about a brand, but then we
compare with the good and bad things of other products (reinforcement)
Types of buying decision behaviour

Complex buying behaviour-car, house, proper winter jacket, skies, etc.

Habitual buying behaviour-toilet paper, pasta, salt,
Variety-seeking buying behaviour-ice-cream, bread, biscuits
Dissonance-reducing buying behaviour-diamond ring, lawnmower, insurance

After class questions asked

-all classes will end before 15th of December. There might not be mid-term exams.
-information on project work will be announced this Friday 20th
-a presentation will be required as well as a written exam.