Misplaced Pages

#574425

97-504: The Palm Springs International Festival of Short Films takes place across seven days each June, showing more than 350 short films every year, and hosting a Short Film Market with over 3,000 new short films annually. It also presents a three-day program of seminars, master classes, panels and roundtable discussions with free admission for all filmmaking and industry guests. An AMPAS qualifying Festival, PSISF has hosted 97 short films in its 19-year history that went on to secure Oscar nominations in

194-435: A consumer during a purchase decision. The decision model situates the black box in a broader environment which shows the interaction of external and internal stimuli (e.g. consumer characteristics, situational factors, marketing influences, and environmental factors) as well as consumer responses. The black box model is related to the black box theory of behaviourism , where the focus extends beyond processes occurring inside

291-470: A consumer is dissatisfied with the new phone, they may take actions to resolve the dissatisfaction. Consumer actions, in this instance, could involve requesting a refund, making a complaint, deciding not to purchase the same brand or from the same company in the future, or even spreading negative product reviews to friends or acquaintances, possibly via social media. After acquisition, consumption, or disposition, consumers may feel some uncertainty in regards to

388-566: A detailed examination of factors influencing customer loyalty, re-purchase intentions, and other behaviors like providing referrals and becoming brand advocates. Additionally, these databases aid in market segmentation , particularly behavioral segmentation, enabling the creation of highly targeted and personalized marketing strategies . In the 1940s and 1950s, marketing was dominated by the so-called classical schools of thought which were highly descriptive and relied heavily on case study approaches with only occasional use of interview methods. At

485-422: A diluted or severely damaged brand image. Poor choices for brand extension may dilute and deteriorate the core brand and damage the brand equity. Most of the literature focuses on the consumer evaluation and positive impact on parent brand. In practical cases, the failures of brand extension are at higher rate than the successes. Some studies show that negative impact may dilute brand image and equity. In spite of

582-541: A discipline, consumer behaviour stands at the intersection of economic psychology and marketing science. Understanding purchase and consumption behaviour is a key challenge for marketers. Consumer behaviour, in its broadest sense, is concerned with understanding both how purchase decisions are made and how products or services are consumed or experienced. Consumers are active decision-makers. They decide what to purchase, often based on their disposable income or budget. They may change their preferences related to their budget and

679-440: A gate-keeping role by vetoing unacceptable alternatives and encouraging more acceptable alternatives. The importance of children as influencers in a wide range of purchase contexts should never be underestimated and the phenomenon is known as pester power . To approach the mental processes used in purchasing decisions, some authors employ the concept of the black box , which represents the cognitive and affective processes used by

776-434: A lack of similarity and familiarity and inconsistent IMC messages. "Equity of an integrated oriented brand can be diluted significantly from both functional and non-functional attributes-base variables", which means dilution does occur across the brand extension to the parent brand. These failures of extension make consumers create a negative or new association relate to parent brand even brand family or to disturb and confuse

873-554: A larger share in the market in which it competes. Brand extension research mainly focuses on consumer evaluation of extension and attitude toward the parent brand. In their 1990 model, Aaker and Keller provide a sufficient depth and breadth proposition to examine consumer behaviour and a conceptual framework. The authors use three dimensions to measure the fit of extension. First, the "Complement" refers to consumers taking two product classes (extension and parent brand product) as complementary in satisfying their specific needs. Secondly,

970-467: A later date. Advertising messages with a strong call-to-action are yet another device used to convert customers. A call-to-action is any device designed to encourage immediate sale. Typically, a call-to-action includes specific wording in an advertisement or selling pitch that employs imperative verbs such as "Buy now!" or "Don't wait!". Other types of calls-to-action might provide consumers with strong reasons for purchasing immediately such an offer that

1067-402: A new brand but sales of the original flavour also decreased. Coca-Cola had to make considerable efforts to regain customers who had turned to Pepsi cola. Although there are few works about the failure of extensions, literature provides sufficient in-depth research into this issue. Studies also suggest that brand extension is a risky strategy to increase sales or brand equity. It should consider

SECTION 10

#1732858307575

1164-481: A number of strategies to reduce post purchase dissonance. A typical strategy is to look to peers or significant others for validation of the purchase choice. Customers have always been led by the opinions of friends and family, but nowadays this is corroborated by social media likes, reviews, and testimonials. Marketing communications can also be used to remind consumers that they made a wise choice by purchasing Brand X. When consumers make unfavorable comparisons between

1261-415: A pleasant dining experience may be willing to travel further distances to patronise a fine-dining venue compared to those wanting a quick meal at a more utilitarian eatery. After evaluating the different product attributes, the consumer ranks each attribute or benefit from highly important to least important. These priorities are directly related to the consumer's needs and wants. Thus, the consumer arrives at

1358-440: A poor decision. On the other hand, a purchase decision is classified as high involvement when psycho-social risks are perceived to be relatively high. The consumer's level of involvement is dependent on a number of factors including perceived risk of negative consequences in the event of a poor decision, the social visibility of the product, and the consumer's prior experience with the product category. Part of marketing strategy

1455-435: A powerful call-to-action is to provide consumers with compelling reasons to purchase promptly rather than defer purchase decisions. As consumers approach the actual purchase decision, they are more likely to rely on personal sources of information. For this reason, personal sales representatives must be well versed in giving sales pitches and in tactics used to close the sale. Methods used might include 'social evidence', where

1552-470: A product or brand fulfills these needs. Maslow's approach is a generalised model for understanding human motivations in a wide variety of contexts, but is not specific to purchasing decisions. Another approach proposes eight purchase motivations, five negative motives and three positive motives, which energise purchase decisions as illustrated in the table below. These motivations are believed to provide positive reinforcement or negative reinforcement. In

1649-528: A purchase decision is known as integration . Marketers are interested in consumer perceptions of brands, packaging, product formulations, labeling, and pricing. Of special interest is the threshold of perception (also known as the just noticeable difference ) in a stimulus. For example, how much should a marketer lower a price before consumers recognise it as a bargain? In addition, marketers planning to enter global markets need to be aware of cultural differences in perception. For example, westerners associate

1746-425: A purchase decision is made by a small group, such as a household, different members of the group may become involved at different stages of the decision process and may perform different roles. For example, one person may suggest the purchase category, another may search for product-related information while yet another may physically go to the store, buy the product, and transport it home. It is customary to think about

1843-611: A range of other factors. Some purchase decisions involve long, detailed processes that include extensive information search to select between competing alternatives. Other purchase decisions, In consumer practice, consumers must make highly complex decisions, often based on a lack of time, knowledge or negotiating ability. Such as impulse buys or habitual purchases, are made almost instantaneously with little or no investment of time or effort in information search. Some purchase decisions are made by groups (such as families, households or businesses) while others are made by individuals. When

1940-488: A record label that has extended its brand successfully many times; from transportation (aeroplanes, trains) to games stores and video stores such as Virgin Megastores . Product extensions are versions of the same parent product that serve a segment of the target market and increase the variety of an offering. An example of a product extension is Coke vs. Diet Coke in the same product category of soft drinks . This tactic

2037-429: A rich understanding of the typical consumer's touchpoints . Consumer evaluation can be viewed as a distinct stage. Alternatively, evaluation may occur continuously throughout the entire decision process. Consumers evaluate alternatives in terms of the functional (also called utilitarian ) and psycho-social (also called the value-expressive or the symbolic ) benefits offered. Brand image (or brand personality)

SECTION 20

#1732858307575

2134-413: A service through prior experience or word of mouth communications. There are four stages that consumers go through in the hypothesis testing: Hypothesis generation, exposure of evidence, encoding of evidence, and integration of evidence. Purchasing is influenced by a wide range of internal and external factors. Consumer awareness refers to the awareness of the consumption of goods bought by consumers in

2231-459: A similar consumer function of comfort and hominess. Arm & Hammer leveraged its brand equity from basic baking soda into the oral care and laundry care categories. By emphasizing its key attributes, the cleaning and deodorizing properties of its core product, Arm & Hammer was able to leverage those attributes into new categories with success. Another example is Virgin Group , which was initially

2328-481: A symbol of noble status, wealth and success, it has become a consumer identity and status symbol. The consumer's prior experience with the category, product, or brand can have a major bearing on purchase decision-making. Experienced consumers (also called experts) are more sophisticated consumers; they tend to be more skillful information searchers, canvass a broader range of information sources, and use complex heuristics to evaluate purchase options. Novice consumers, on

2425-412: A weighted score for each product or brand which represents the consumer's subjective assessment of individual attribute scores weighted in terms of their importance. Using these scores, they arrive at a total mental score or rank for each product/brand under consideration. Once the alternatives have been evaluated, the consumer firms up their resolve to proceed through to the actual purchase. For example,

2522-403: Is a stub . You can help Misplaced Pages by expanding it . Brand extension Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off . Organizations use this strategy to increase and leverage brand equity (definition:

2619-401: Is a catalyst for changes in consumer awareness. Many companies have launched their own branded products in order to gain a foothold in an increasingly competitive market. In the face of a variety of goods and brands, consumers' brand awareness matures. When people buy goods, paying attention to the brand has become a fashion. Faced with the severe competition situation, companies began to realize

2716-444: Is a licensed brand extension. In this scenario, the brand-owner works with a partner (sometimes a competitor), who takes on the responsibility of manufacturing and sales of the new products, paying a royalty every time a product is sold. Brand extension can also be done through marketing strategies such as guerrilla marketing , where brands can promote their goods or services through unconventional means such as emotional connections to

2813-472: Is a useful indication to evaluate consumer evaluation of brand extension . Throughout the categorisation theory and associative network theory , a consumer has the ability to process information into useful knowledge for them. They would measure and compare the difference between core brand and extension product through quality of core brand, fit in category, former experience and knowledge, and difficulty of making. Consequently, in this article, we may conclude

2910-491: Is an important psycho-social attribute. Consumers can have both positive and negative beliefs about a given brand. A considerable body of research suggests that consumers are predisposed towards brands with a personality that matches their own and that a good match can affect brand preference, brand choice, satisfaction with a brand, brand commitment and loyalty, and the consumer's propensity to give positive word-of-mouth referrals. The branch of consumer behaviour that investigates

3007-559: Is highly effective for brands Researchers tend to use "categorization theory" as their fundamental theory to explore the effects of brand extension. When consumers are faced with thousands of products to choose amongst, they are not only initially confused, but try to categorise by brand association or image given their knowledge and previous experience. A consumer can judge or evaluate the extension product with his or her category memory. Consumers categorise new information into specific brand or product class label and store it. This process

Palm Springs International Festival of Short Films - Misplaced Pages Continue

3104-438: Is limited and the findings are revealed as incongruent. The early works of Aaker and Keller (1990) find no significant evidence that brand name can be diluted by unsuccessful brand extensions. Conversely, Loken and Roedder-John (1993) indicate that dilution effect do occur when the extension across inconsistency of product category and brand beliefs. The failure of extension may come from difficulty of connecting with parent brand,

3201-403: Is more than just their ability to convey identity. Some consumers want to make an impression. Luxury goods used to be the daily routine of the aristocracy, but after the concept of modern social class was blurred, consumers still regarded it as a ticket to enter the upper class. Consumers evaluate a brand based on how it aligns with our identity, which helps define and maintain our self-concept. As

3298-467: Is not only related to consumer's experience and knowledge, but also involvement and choice of brand. If the brand association is highly related to extension, consumer can perceive the fit among brand extension. Some studies suggest that consumer may ignore or overcome the dissonance from extension i.e. perceived misfit with parent brand is ignored, and does not cause dilution of parent's brand equity. Literature related to negative effect of brand extension

3395-448: Is only available for a limited time (e.g. 'Offer must expire soon'; 'Limited stocks available') or a special deal usually accompanied by a time constraint (e.g. 'Order before midnight to receive a free gift with your order'; 'Two for the price of one for the first 50 callers only'). Additionally, service convenience is a saving of effort, in the way that it minimises the activities that customers may bear to buy goods and services. The key to

3492-520: Is the process of social expression and social communication. 2. Symbolic consumption: People consume not only the commodities themselves but also certain cultural and social significance symbolised or represented by them, including mood, beauty, grade, status, status, atmosphere, style, emotional appeal, etc. Symbolic consumption is typically reflected in brand consumption. Brand has three functions for consumers: functional value, symbolic value and experience value. Take luxury brands: The power of luxury brands

3589-470: Is the set of brands that a consumer can elicit from memory and is typically a very small set of some 3- 5 alternatives. Consumers may choose to supplement the number of brands in the evoked set by carrying out an external search using sources such as the Internet, manufacturer/brand websites, shopping around, product reviews, referrals from peers and the like. The readiness of information availability has raised

3686-425: Is time-consuming but also needs a big budget to create brand awareness and to promote a product's benefits. Brand extension is one of the new product development strategies which can reduce financial risk by using the parent brand name to enhance consumers' perception due to the core brand equity. While there can be significant benefits in brand extension strategies, there can also be significant risks, resulting in

3783-426: Is to ascertain how consumers gain knowledge and use information from external sources. The perception process is where individuals receive, organise, and interpret information in order to attribute some meaning. Perception involves three distinct processes: sensing information, selecting information, and interpreting information. Sensation is also part of the perception process, and it is linked direct with responses from

3880-403: Is undertaken due to the brand loyalty and brand awareness associated with an existing product. Consumers are more likely to buy a new product that has a reputable brand name on it than buy a similar product from a competitor without a reputable brand name. Consumers receive a product from a brand they trust, and the company offering the product can increase its product portfolio and potentially gain

3977-515: The American Marketing Association , consumer behaviour can be defined as "the dynamic interaction of affect and cognition, behaviour, and environmental events by which human beings conduct the exchange aspects of their lives." As a field of study, consumer behaviour is an applied social science . Consumer behaviour analysis is the "use of behaviour principles, usually gained experimentally, to interpret human economic consumption." As

Palm Springs International Festival of Short Films - Misplaced Pages Continue

4074-785: The consumer 's emotions , attitudes , and preferences affect buying behaviour . Consumer behaviour emerged in the 1940–1950s as a distinct sub-discipline of marketing , but has become an interdisciplinary social science that blends elements from psychology , sociology , social anthropology , anthropology , ethnography , ethnology , marketing, and economics (especially behavioural economics ). The study of consumer behaviour formally investigates individual qualities such as demographics , personality lifestyles, and behavioural variables (like usage rates, usage occasion, loyalty , brand advocacy, and willingness to provide referrals ), in an attempt to understand people's wants and consumption patterns. Consumer behaviour also investigates on

4171-424: The inept set ). Such brands will typically be excluded from further evaluation as purchase options. For other brands, the consumer may have indifferent feelings (the inert set ). As the consumer approaches the actual purchase, they distill the mental list of brands into a set of alternatives that represent realistic purchase options, known as the consideration set . By definition, the consideration set refers to

4268-400: The "Substitute" indicates two products have the same user situation and satisfy the same needs, which means the product classes are very similar and that the products can act to replace each other. Lastly, the "Transfer" describes the relationship between extension product and manufacturer which "reflects the perceived ability of any firm operating in the first product class to make a product in

4365-408: The "small set of brands which a consumer pays close attention to when making a purchase decision". This ultimately leads to a choice set which includes the alternatives that are strong contenders for purchase. Specific brand names enter the consumer's consideration set based on the extent to which they satisfy the consumer's purchasing objectives and/or the salience or accessibility of the brand at

4462-474: The 1920s, 1930s, and 1940s. By the 1950s, marketing began to adopt techniques used by motivation researchers including depth interviews, projective techniques, thematic apperception tests , and a range of qualitative and quantitative research methods. More recently, scholars have added a new set of tools including ethnography, photo-elicitation techniques, and phenomenological interviewing. In addition to these, contemporary research has delved further into

4559-432: The addition of consumer behaviour, the marketing discipline exhibited increasing scientific sophistication with respect to theory development and testing procedures. In its early years, consumer behaviour was heavily influenced by motivation research, which had increased the understanding of customers, and had been used extensively by consultants in the advertising industry and also within the discipline of psychology in

4656-525: The advent of the Internet means that consumers can obtain brand/product information from a multiplicity of different platforms. In practice, the consideration set has assumed greater importance in the purchase decision process because consumers are no longer totally reliant on memory. This is marketing, which could be defined as "the process by which companies create value for customers and build strong customer relationships, in order to capture value from customers in return." This definition strongly implies that

4753-566: The attributes and feelings about parent brand, however their study does show that "brand extension dilutes the brand image, changing the beliefs and association in consumers' mind". The flagship product is a money-spinner to a firm. Marketers spend time and money to maximise exposure and awareness of the product. In theory, a flagship product has the top sales and highest awareness in its product category. In spite of Aaker and Keller's (1990) research, which reports that prestigious brands are not harmed from failure of extensions, some evidence shows that

4850-483: The behavioural sciences, including sociology , anthropology, and clinical psychology . This resulted in a new emphasis on the customer as a unit of analysis. As a result, new substantive knowledge was added to the marketing discipline – including such ideas as opinion leadership , reference groups, and brand loyalty . Market segmentation , especially demographic segmentation based on socioeconomic status (SES) index and household life-cycle, also became fashionable. With

4947-480: The best product to buy. Thus the relevant evaluation attributes vary according to across different types of consumers and purchase contexts. For example, attributes important for evaluating a restaurant would include food quality, price, location, atmosphere, quality of service, and menu selection. Consumers, depending on their geographic, demographic, psychographic and behavioural characteristics, will decide which attributes are important to them. Potential patrons seeking

SECTION 50

#1732858307575

5044-427: The brand by tackling social problems/dilemmas. These emotional connections are generally done through social experiments where brands express their concern and offer small solutions thereby making the brand standout and seem righteous. Guerilla marketing is a very effective way of connecting with the target market and reaching out to different markets, this extension into the vast demographic while creating brand awareness

5141-422: The brand, notably the self-related aspects. The marketing organisation needs a deep understanding of the benefits most valued by consumers and therefore which attributes are most important in terms of the consumer's purchase decision. It also needs to monitor other brands in the customer's consideration set to optimise planning for its own brand. During the evaluation of alternatives, the consumer ranks or assesses

5238-399: The chosen option and the options forgone, they may feel post-decision regret or buyer's remorse . Consumers can also feel short-term regret when they avoid making a purchase decision, however this regret can dissipate over time. Through their experiences consumers can learn and also engage in a process called hypothesis testing . This refers to the formation of hypotheses about the products or

5335-446: The colour white with purity, cleanliness, and hygiene, but in eastern countries white is often associated with mourning and death. Accordingly, white packaging would be an inappropriate colour choice for food labels on products to be marketed in Asia. Symbolic consumption becomes the internal influence of consumer behaviour and forms a special symbol. Consumption symbols can be used to explain

5432-517: The complexities of consumer behavior, incorporating innovative approaches such as neuroimaging studies and big data analytics. These modern tools provide deeper insights into subconscious consumer motivations and decision-making processes. Today, consumer behaviour (or CB as it is affectionately known) is regarded as an important sub-discipline within marketing and is included as a unit of study in almost all undergraduate marketing programs. Consumer behaviour means entails "all activities associated with

5529-626: The consumer and also includes the relation between the stimuli and the consumer's response. The decision model assumes that purchase decisions do not occur in a vacuum. Rather, they occur in real time and are affected by other stimuli, including external environmental stimuli and the consumer's momentary situation. The elements of the model include interpersonal stimuli (between people) or intrapersonal stimuli (within people), environmental stimuli and marketing stimuli. Marketing stimuli include actions planned and carried out by companies, whereas environmental stimuli include actions or events occurring in

5626-413: The consumer as a group member or a unique individual. Consumer consumption behaviour is not only material and psychological consumption. Symbolic consumption has two meanings: 1. A symbol of consumption. Consumption expresses and transmits a certain meaning and message. The meaning derived from culture enables us to use products to symbolise our membership in various social groups. This symbolic consumption

5723-407: The consumer might say to themself, "Yes, I will buy Brand X one day." This self instruction to make a purchase is known as purchase intent. Purchase intentions are a strong yet imperfect predictor of sales. Sometimes purchase intentions simply do not translate into an actual purchase and this can signal a marketing problem. For instance, a consumer may wish to buy a new product, but may be unaware of

5820-421: The damage of parent brand no matter what types of extension are used. Brand equity is defined as the main concern in brand management and IMC campaign. Every marketer should pursue the long term equity and pay attention to every strategy in detail. Because a small message dissonance would cause great failure of brand extension. On the other hand, consumer has his psychology process in mind. The moderating variable

5917-554: The decision made, generating in some cases regret. Post-decision dissonance (also known as cognitive dissonance ) is the feeling of anxiety that occurs in the post purchase stage, as well as the uneasy feelings or concerns as to whether or not the correct decision was made at purchase. Some consumers, for instance, may regret that they did not purchase one of the other brands they were considering. This type of anxiety can affect consumers' subsequent behaviour and may have implications for repeat patronage and customer loyalty. Consumers use

SECTION 60

#1732858307575

6014-419: The difference between the consumer's current state and their desired or ideal state. A simpler way of thinking about problem recognition is that it is where the consumer decides that they are 'in the market' for a product or service to satisfy some need or want. The strength of the underlying need drives the entire decision process. Theorists identify three broad classes of problem-solving situation relevant for

6111-410: The dilution effect has great and instant damage to the flagship product and brand family. Still, some studies suggest that even though overall parent belief is diluted; the flagship product would not be harmed. In addition, brand extension also "diminish[es] consumer's feelings and beliefs about brand name." To establish a strong brand, it is necessary to build up a "brand ladder". Marketers may follow

6208-429: The end of the 1950s, two important reports criticised marketing for its lack of methodological rigor, especially the failure to adopt mathematically-oriented behavioural science research methods. The stage was set for marketing to become more inter-disciplinary by adopting a consumer-behaviourist perspective. From the 1950s, marketing began to shift its reliance away from economics and towards other disciplines, notably

6305-484: The exclusion of others. Selective comprehension is where the consumer interprets information in a manner that is consistent with their own beliefs. Selective retention occurs when consumers remember some information while rapidly forgetting other information. Collectively the processes of selective exposure, attention, comprehension, and retention lead individual consumers to favor certain messages over others. The way that consumers combine information inputs to arrive at

6402-409: The final stage, namely post-purchase evaluation. Foxall suggested that post-purchase evaluation can provide key feedback to marketers because it influences future purchase patterns and consumption activities. The post purchase stage is where the consumer examines and compares product features, such as price, functionality, and quality with their expectations. Post purchase evaluation can be viewed as

6499-423: The following points about consumer evaluation of brand extension: A successful brand message strategy relies on a congruent communication and a clear brand image . The negative impact of brand extension would cause a great damage to parent brand and brand family. From a manager and marketer's perspective, an operation of branding should maintain brand messages and associations within a consistency and continuum in

6596-413: The importance of implementing brand strategy, and began to focus on market research, and on this basis, deeply grasp the consumer's psychological pulse to improve market share and brand loyalty. With the change of people's life concept, consumers' rational consumption psychology has become increasingly prominent. Social Marketing, Customised Marketing, brand-name shopping, and the consumer's perception of

6693-889: The individual's perception of the central groups to which an individual belongs and may refer to an age group, a lifestyle group, religious group, educational group, or some other reference group. Social psychologists have established that the need to belong is one of the fundamental human needs. Purchasing behaviour is therefore influenced by a broad range of internal factors such as psychological, socio-economic, demographic and personality factors. Demographic factors include income level, psychographics (lifestyles), age, occupation, and socioeconomic status. Personality factors include knowledge, attitudes, personal values, beliefs , emotions, and feelings. Psychological factors include an individual's motivation , attitudes , personal values, and beliefs. Social identity factors include culture, sub-culture, and reference groups. Other factors that may affect

6790-455: The influences on the consumer, from social groups such as family, friends, sports, and reference groups, to society in general ( brand-influencers , opinion leaders ). Due to the unpredictability of consumer behavior, marketers and researchers use ethnography, consumer neuroscience, and machine learning, along with customer relationship management (CRM) databases, to analyze customer patterns. The extensive data from these databases allows for

6887-401: The informedness of the consumers: the degree to which they know what is available in the marketplace, with precisely which attributes, and at precisely what price. The fact that a consumer is aware of a brand does not necessarily mean that it is being considered as a potential purchase. For instance, the consumer may be aware of certain brands, but not favourably disposed towards them (known as

6984-413: The long way. Because the effects of negative impact from brand extension are tremendous and permanently. Every messages or brand extension can dilute the brand in nature. Consumer behaviour Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase , use and disposal of goods and services . Consumer behaviour consists of how

7081-399: The long-term shopping environment and purchasing activities. The change of life concept is the subjective factor of the change of consumer awareness. As people's living standards and incomes continue to increase, people's life concepts are constantly changing. Differences in consumer personality are the internal motivations for changes in consumer awareness. Intensified market competition

7178-411: The marketing literature, the consumer's motivation to search for information and engage in the purchase decision process is sometimes known as involvement . Consumer involvement has been defined as "the personal relevance or importance of a message [or a decision]". Purchase decisions are classified as low involvement when consumers experience only a small psycho-social loss in the event that they make

7275-408: The matching of a brand's personality and the consumer's personality is known as self-congruity research. The social media presence of a brand plays a huge part in this stage, with the effect described as "Think of regular media as a one-way street where you can read a newspaper or listen to a report on television, but you have very limited ability to give your thoughts on the matter. Social media, on

7372-405: The net worth and long-term sustainability just from the renowned name). An example of a brand extension is Jello -gelatin creating Jello pudding pops. It increases awareness of the brand name and increases profitability from offerings in more than one product category. In the 1990s, 81 percent of new products used brand extension to introduce new brands and to create sales. Launching a new product

7469-419: The order and model created by Aaker and Keller who are authorities on brand management, but branding does not always follow a rational line. One mistake can damage all brand equity. A classic extension failure example would be Coca-Cola launching " New Coke " in 1985. Although it was initially accepted, a backlash against "New Coke" soon emerged among consumers. Not only did Coca-Cola not succeed in developing

7566-470: The original brand identity and meaning. In addition, Martinez and de Chernatony (2004) classify the brand image in two types: the general brand image and the product brand image. They suggest that if the brand name is strong enough as Nike or Sony , the negative impact has no specific damage on general brand image and "the dilution effect is greater on product brand image than on general brand image". Consequently, consumers may maintain their belief about

7663-443: The other hand, are less efficient information searchers and tend to perceive higher levels of purchase risk on account of their unfamiliarity with the brand or category. When consumers have prior experience, they have less motivation to search for information and spend less effort on information search but can process new information more efficiently. One study, for example, found that as consumer experience increases, consumers consider

7760-541: The other hand, is a two-way street that gives you the ability to communicate too." Consumer beliefs about a brand or product category may vary depending on a range of factors including the consumer's prior experience and the effects of selective perception, distortion, and retention. Consumers who are less knowledgeble about a category tend to evaluate a brand based on its functional characteristics. However, when consumers become more knowledgeable, functional attributes diminish and consumers process more abstract information about

7857-424: The positive impact of brand extension, negative association and wrong communication strategy do harm to the parent brand even brand family. A brand's "extendibility" depends on how strong consumer's associations are to the brand's values and goals. Ralph Lauren 's Polo brand successfully extended from clothing to home furnishings such as bedding and towels. Both clothing and bedding are made of linen and fulfill

7954-527: The price of the commodity (directly expressed as the consumer's sensitivity to price) are all main factors for understanding consumer attitudes, and help explain the reaction of market demand to price changes. Internal influences refer to both personal and interpersonal factors. Social theory suggests that individuals have both a personal identity and a social identity . Personal identity consists of unique personal characteristics such as skills and capabilities, interests, and hobbies. Social identity consists of

8051-545: The purchase decision include the environment and the consumer's prior experience with the category or brand. The consumer's underlying motivation drives consumer action, including the information search and purchase decision. The consumer's attitude to a brand (or brand preference) is described as a link between the brand and a purchase motivation. These motivations may be negative (to avoid pain or unpleasantness) or positive (to achieve some type of reward such as sensory gratification). One approach to understanding motivations

8148-401: The purchase decision: Consumers become aware of a problem in a variety of ways including: During the information search and evaluation stages, the consumer works through processes designed to arrive at a number of brands (or products) that represent viable purchase alternatives. Typically consumers first carry out an internal search and scan their memory for suitable brands. The evoked set

8245-459: The purchase, use and disposal of goods and services, including the consumer's emotional, mental and behavioural responses that precede or follow these activities." The term consumer can refer to individual consumers as well as organisational consumers, and more specifically, "an end user, and not necessarily a purchaser, in the distribution chain of a good or service." Consumer behaviour is concerned with: Consumer responses may be: According to

8342-551: The relationship is built upon an exchange and the "creation" of value. This means that a need is built for a consumer, with the product presented or advertised to them through an analytical study of the user's patterns of consumption and their behaviours and habits. The implication for marketers is that relevant brand information should be disseminated as widely as possible and included on any forum where consumers are likely to search for product or brand information, whether traditional media or digital media channels. Thus, marketers require

8439-480: The relative merits of different options available. No universal evaluation process is used by consumers across all-buying situations. Instead, consumers generate different evaluation criteria depending on each unique buying situation. Social media further enables consumers to share views with their peers about the product they are looking to purchase. This way, consumers can gauge the positive and negative sides of each alternative, and decide even more conveniently as for

8536-467: The retail outlets that stock it, so that purchase cannot proceed. The extent to which purchase intentions result in actual sales is known as the sales conversion rate. Organisations use a variety of techniques to improve conversion rates. The provision of easy credit or payment terms may encourage purchase. Sales promotions such as the opportunity to receive a premium or enter a competition may provide an incentive to buy now rather than defer purchases for

8633-399: The salesperson refers to previous success and satisfaction from other customers buying the product. 'Scarcity attraction' is another technique, where the salesperson mentions that the offer is limited, as it forces the consumer to make a quicker decision and therefore spend less time evaluating alternatives. Following purchase and after experiencing the product or service, the consumer enters

8730-652: The second class" The first two measures focus on the consumer's demand and the last one focuses on the firm's perceived ability. From the line extension to brand extension, however, there are many different types of extension such as "brand alliance", co-branding or "brand franchise extension". Tauber (1988) suggests seven strategies to identify extension cases such as product with parent brand's benefit, same product with different price or quality, etc. In his suggestion, it can be classified into two category of extension; extension of product-related association and non-product related association. Another form of brand extension

8827-621: The senses creating some reaction towards the brand name, advertising, and packaging. The process of perception is uniquely individual and may depend on a combination of internal and external factors such as experiences, expectations, needs, and the momentary set. When exposed to a stimulus, consumers may respond in entirely different ways due to individual perceptual processes. A number of processes potentially support or interfere with perception. Selective exposure occurs when consumers decide whether to be exposed to information inputs. Selective attention occurs when consumers focus on some messages to

8924-698: The short film categories. The Festival of Short Films is a spin-off of the Palm Springs International Film Festival (PSIFF) that takes place each January. In 2021 the main PSIFF festival was not held due to the COVID-19 pandemic , but the ShortFest went ahead on June 22–28. As of December 2021, the next event was scheduled for June 21–27, 2022. The most recent festival was held June 18–24, 2024. This article about an American film festival

9021-409: The steps taken by consumers to correlate their expectations with perceived value and thus influence their next purchase decision for that good or service. For example, if a consumer buys a new phone and their post-purchase evaluation is positive, they will be encouraged to purchase the same brand or from the same company in the future. This is also known as "post-purchase intention". On the contrary, if

9118-430: The time of making the purchase decision. By implication, brand names that are more memorable are more likely to be accessible. Traditionally, one of the main roles of advertising and promotion was to increase the likelihood that a brand name was included in the consumer's evoked set. Repeated exposure to brand names through intensive advertising was the primary method for increasing top-of-mind brand awareness . However,

9215-440: The types of decision roles; such as: For most purchase decisions, each of the decision roles must be performed, but not always by the same individual. For example, in the case of family making a decision about a dining-out venue, a parent may initiate the process by intimating that they are too tired to cook. The children are important influencers in the overall purchase decision, but both parents may act as joint deciders performing

9312-426: The wider operating environment and include social, economic, political, and cultural dimensions. In addition, the buyer's black box includes buyer characteristics and the decision process, which influence the buyer's responses. The first stage of the purchase decision process begins with problem recognition (also known as category need or need arousal). This is when the consumer identifies a need, typically defined as

9409-615: Was developed by Abraham Maslow . Maslow's hierarchy of needs is based on five levels of needs, organised accordingly to the level of importance. Maslow's five needs are: Physiological needs and safety needs are the so-called lower order needs. Consumers typically use most of their resources (time, energy, and finances) attempting to satisfy these lower order needs before the higher order needs of belonging, esteem, and self-actualisation become meaningful. Part of any marketing program requires an understanding of which motives drive given product choices. Marketing communications can illustrate how

#574425