Consumer Behavior in Practice: Strategic Insights for the Modern Marketer
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| Format: | Book |
| Language: | English |
| Published: |
Cham
Springer
[2024]
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xxi, 267 Seiten Illustrationen |
| ISBN: | 9783031509469 |
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MARC
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| 245 | 1 | 0 | |a Consumer Behavior in Practice |b Strategic Insights for the Modern Marketer |c Eugene Y. Chan |
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| 650 | 4 | |a Consumer Behavior | |
| 650 | 4 | |a Branding | |
| 650 | 4 | |a Market Research and Competitive Intelligence | |
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| 650 | 4 | |a Consumer behavior | |
| 650 | 4 | |a Branding (Marketing) | |
| 650 | 4 | |a Marketing research | |
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Record in the Search Index
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Contents Part I Complexities of Consumer Decision-Making 1 Consumer Decision-Making Strategies Introduction Rational Decision-Making Models Economic Model of Consumer Behavior Information Processing Model Application of Rational Models in Complex Purchase Decisions Prospect Theory and Framing Effects Prospect Theory: Gains and Losses in Decision-Making Framing Effects and Their Influence on Choices Endowment Effect and Reference Points in Decision-Making Leveraging Prospect Theory to Influence Consumer Preferences Decision Regret and Anticipatory Regret Concept of Decision Regret and Post-Choice Dissonance Anticipatory Regret: The Fear of Making theWrong Choice Strategies for Minimizing Decision Regret and Enhancing Satisfaction Overcoming Choice Overload Paradox of Choice: How Too Many Options Can Lead to Inaction Strategies for Simplifying Decision-Making Processes Conclusion References 3 4 4 4 5 6 7 7 8 9 11 12 12 13 14 15 15 17 19 20 Part II Relevance to the Modern Marketer 2 Advertising Introduction The Science of Persuasion: The Elaboration Likelihood Model 25 26 26 vii
Elaboration Eikelihood Model and the Route to Persuasion Examining Haw Consumers Respond Ehrouqh the Central Route Examining How Consumers Respond Through the Peripheral Route How Persuasion Tactics Differ Rased on Consumer Motivation and Ability Message Framing and Persuasion Else Impact of Message Framing on Consumer Attitudes and Behavior Gain-Framed vs. I^ss-Framed Appeals and Iheir Effects Strategies for Selecting the Riqht Message Frame for Different Situations Persuasion Eechniijues and Principles Reciprocity Scarcity Social Proof and AuthorityPrinciples Elie Importance of Source Credibility in Persuasion Strategies for Applying Persuasion Principles to Shape Consumer Attitudes Cognitive Dissonance and Attitude Change Unpacking the Concept of Cognitive Dissonance Strategies for Addressing Dissonance and Creating Positive Change Counterarguments and Resistance to Persuasion Exploring How Consumers Form Counterarguments to Persuasion Attempts Psychological Reactance as a Defensive Mechanism to Persuasion Strategies for Overcoming Resistance and Enhancing Persuasion Success Conclusion References 3 Pricing Introduction Price Perception and Psychological Factors Examining How Consumers Perceive and Evaluate Prices The Role of Reference Prices. Price-Quality Inference, and Anchoring Exploring Price Framing and Default Effects Applying Behavioral Economics Principles to Optimize Pricing Strategics Discounts and Other Price PromotionStrategies The Roles of Discounts and Price Promotions in Stimulating Purchase 26 γ] 29 30 31 31 32 33 34 34 35 36 37 37 38 40 40 41 41 42 44 45
46 47 47 48 49 49 30
CONTENTS Anchoring: Understanding How Consumers Perceive Price Discounts The Decoy Effect as a Price Promotion Strategy Strategies to Influence Price Promotion Anchors and Decoy Effects ' Price Endings and Odd Pricing Analyzing the Impact of Price Endings and Odd Pricing Strategies The Psychological Effects of Ending Prices in 0.99 vs. Pounded Numbers Strategies for Utilizing Price Endings to Shape Consumer Perception On the Irrationality of Consumer Spending Psychological Differences in Spending with Credit Card vs. Cash Pain of Paying as a Deterrence to Consumer Spending Conclusion References 4 5 51 52 53 54 54 56 57 58 58 59 61 63 65 66 66 66 67 68 69 69 70 71 72 74 74 Brand Loyalty Introduction The Nature of Brand Loyalty Defining Brand Loyalty and Its Different Dimensions The Poles of Pepeat Purchases and Customer Retention Building Long-Term Relationships Through Loyalty Loyalty Programs and Incentives The Role of Loyalty Programs in Fostering Repeat Purchases The Goal-Gradient Hypothesis: Encouraging Repeat Purchases Types of Loyalty Programs: Points, Discounts, Exclusive Access Leveraging Incentives to Strengthen Brand Loyalty Brand Extensions and Loyalty Exploring the Effects of Brand Extensions on Loyalty How Succestful Extensions Strengthen Consumer-Brand Relationships Avoiding Risks and Pitfalls in Brand Extension Strategies Brand Loyalty in the Digital Age The Evolution of Brand Loyalty in the Digital Landscape Online Communities, Social Influence, and Digital Loyalty Strategies for Nurturing Brand Loyalty in Digital Channels Conclusion References 75 76 78 78
79 80 81 83 Emotional Marketing Introduction The Psychology of Emotions in Consumer Behavior Exploring the Range of Emotions and Their Impact on Choices 85 86 87 87
CONTENTS Tbe Emotional Decision-Making Process and Its Cognitive Basis How Emotional Responses Shape Brand Preferences Consumer-Product Relationships and Emotions The Emotional Attachment Consumers Form withProducts Nostalgia., Sentimentality, and Emotional Connections Designing Products to Elicit Desired Emotional Responses Emotional Appeals and Advertising Leveraging Emotional Appeals in Advertising Emotionally Resonant Storytelling and Narrative Advertising Fear and Scarcity Appeals The Use of Fear and Scarcity Appeals in Marketing Ik Psychological Mechanisms Behind Fear-Based Campaigns Pie Psychological Mechanisms Behind Scarcity-Based Campaigns Balancing Ethical Considerations with Emotional Impact Conclusion References 87 89 90 90 91 93 94 94 95 96 96 97 98 100 100 103 Part III Diversity of Consumer Behavior 6 Luxury Consumer Behavior Introduction The Psychology of Luxury Consumption Understanding the Psychological Drivers of Luxury Consumption Status Signaling and Conspicuous Consumption Theories Luxury as a Symbol of Identity and Self-Expression Perceived Value and Aspirational Motivations Aspirational Motivations and the Desire for Luxury The Role of Exclusivity and Scarcity in Perceived Value Luxury and Social Identity Luxury Consumption as a Means of Self-Presentation Luxury and the Expression of Social Identity The Role of Luxury in Social Group Membership and Prestige Importance of Brand Communities for Luxury Brands Sustainable Luxury Consumption Shifting Perspectives on Sustainability in Luxury Strategies for Promoting Sustainable Luxury Practices Luxury
Counterfeits and Imitation Challenges Posed by Counterfeit Luxury Goods Psychological Factors Behind Purchasing Counterfeits Combating Counterfeit Luxury and Protecting Brand Equity Conclusion References 107 108 108 108 109 110 111 111 113 114 114 115 116 117 118 118 119 120 120 121 122 124 j26
CONTENTS 7 8 Digital Consumer Behavior Introduction Online Identity Projection and Self-Presentation Digital Identity and Self-Presentation The Role of Social Media in Shaping Self-Identities Consumer Motivations for Crafting Digital Identities Influencer Marketing and Social Influence Rise of Digital Influences and Their Influence on Consumer Behavior Principles of Social Influence in Online Contexts Strategies for Effective Collaboration with Digital Influencers Online Trust-Building Mechanisms Building Trust in the Digital Ecosystem The Role of Reviews, Ratings, and Testimonials Leveraging Online Trust for Conversions and Loyalty Psychology of Social Media Engagement Eactors Driving Engagement on Social Media Platforms Understanding the Psychology of Likes, Shares, and Comments FOMO (Fear of Missing Out) and Its Impact on Online Consumer Behavior Conclusion References The Ideological Customer Introduction Values and Values-Based Consumer Behavior On the Psychology and Importance of Values Theories of Value-Based Consumption: Values-Beliefs-Norms and Cultural Capital Hoe Intersection of Politics and Consumer Behavior How Consumers Seek Out Brands that Resonate with Heir Political Ideologies How Political Beliefs Intersect with Purchasing Decisions and Brand Preferences How Consumers Use Products and Brands to Express Ideologies Political Identity, Consumer Behaviors, and Brand Perception The Red-Blue Divide and Its Influence on Consumption Patterns and Brand Engagement Consumer Political Identities as a Basis of Brand Perceptions and Meanings How Brands Should Navigate
Political Connotations in Marketing Activities Social Media and Political Brand Engagement Social Media Platforms as a Facilitator ofPolitical Discussion and Brand Engagement xi 127 128 128 128 130 131 132 132 133 134 136 136 137 138 139 139 140 140 142 144 145 146 146 146 147 149 149 151 152 153 153 154 155 156 156
xii CONTENTS Strategies for Building Brand Authenticity in Online Political Discourse in the Digital Age Consumer Activism Consumer Activism as a Form of Political Engagement Definition and Types of Consumer Activism Motivators Behind Consumers’ Desire for Change How Consumer Activism Changes Brand-Consumer Interactions Conclusion References 9 Cross-Cultural Consumer Behavior Introduction Cultural Dimensions and Consumer Behavior Hofstede’s Cultural Dimensions and Their Implications Die Roles of Individualism-Collectivism and Power Distance The Roles of Masculinity-Femininity, Uncertainty Avoidance, and Long-Term vs. Short-Term Orientation Influence of Cultural Differences on Consumer Choices and Preferences Cultural Identity and Self-Concept The Influence of Cultural Identity on Consumer Behavior Cultural Self-Concept and Its Impact on Brand Preferences The Roles of Acculturation and Bicultural Identity Communication Strategies Across Cultures Language, Symbolism, and Non-Verbal Communication in Marketing The Challenges of Translating and Localizing Marketing Content Cross-Cultural Communication Strategies for Effective Engagement Cultural Sensitivity and Marketing Ethics The Importance of Cultural Sensitivity in Global Marketing Ethical Considerations in Crafting Cross-Cultural Marketing Messages Conclusion References Part IV 10 157 158 158 159 160 161 163 165 167 168 169 169 169 170 171 173 173 174 175 177 177 178 179 180 180 182 183 185 Consumer Behavior, Today and Tomorrow Consumer Behavior in the Sharing Economy Introduction Sharing Economy Models and Consumer
Participation Exploring Different Models: P2P Sharing, Collaborative Consumption, and More Motivations for Participating in the Sharing Economy 139 19Q J9Q 19Q 191
CONTENTS Sharing Economy: Putting Social Exchange Theory into Action Psychological Drivers of Sharing Economy Behavior The Impact of Social Identity and Self-Image on Sharing Choices The Desire for Access Over Ownership: Psychological Perspectives Trust and Reputation inthe Sharing Economy The Significanceof Trust inP2P Transactions Online Reviews, Ratings, and Their Influence on Consumer Choice Strategies for Building and Maintaining Trust in Sharing Platforms The Social Dimensionsof SharingEconomy Behavior The Influence of Social and Peer Interactions on Sharing Choices Social Influence andViral Adoption of SharingPlatforms Building Communities and Networks in the Sharing Economy Conclusion References 11 Sustainable Consumer Decision-Making Introduction Consumer Awareness and Environmental Concerns The Influence of Environmental Issues on Consumer Behavior Tactors Shaping Consumer Perceptions of Sustainability Sustainable Decision-Making as a Diffusion of Innovation The Roles of Eco-Labeling and Certification in Trust Formation The Impact of Eco-Labels on Consumer Choices The Psychology of Trust in Sustainable Product Claims Building Trust Through Certification and Transparency Behavioral Interventions for Sustainable Choices Nudging and Behavioral Economics in Promoting Sustainability Framing and Defaults in Encouraging Green Behavior Applying Behavioral Insights to Design Effective Sustainability Campaigns Corporate Social Responsibility (CSR) and Sustainability The Influence of CSR Initiatives on Consumer Perceptions Strategies for Integrating Sustainability Into CSR
Efforts Green Marketing and Consumer Skepticism The Challenges of Greenwashing and Misleading Claims Building Authentic Green Marketing Strategies Addressing Consumer Skepticism Through Transparency Conclusion References xiii 192 193 193 194 196 196 197 199 201 201 202 203 205 207 209 210 210 210 211 212 213 213 214 216 217 217 2Y7 219 221 221 221 222 222 224 224 225 227
xiv CONTENTS 12 Consumer Behavior During a Brand Crisis Introduction The Psychological Impact of Brand Crises on Consumers Examining How Brand Crises A ffect Consumer Emotions and Attitudes The Roles of Tear, Anxiety, and Uncertainty in Shaping Behavior The Role of Attributions in Brand Crisis Situations Understanding How Consumers Assign Blame Dmina Brand Crises Analyzing Eactors Influencing ConsumerBlame Assignment Strategics for Minimizing Blaine Assignment in a Brand Crisis Brand Crisis Communicationand Consumer Response Exploring the Impact of Communication Strategies on Consumer Behavior The Roles of Transparent, Timely, and Empathetic Communication Strategics for Crafting Effective Crisis Communications Apologizing as a Corporate Responseto Brand Crises The Role and Influence of Corporate Apologies After a Crisis Factors That Determine When Brands Should Apologize The Role of Social Media in Braud Crisis Response Examining How Social Media Amplifies Consumer Responses to Brand Crises The Influence of User-Generated Content, Hashtags, and Virality Conclusion References 229 230 231 231 232 233 233 235 236 237 237 238 239 240 240 241 243 243 244 246 247 Part V Forecasting Consumer Behavior 13 Consumer Behavior in the Future Introduction Technological Disruption and Its Impact How Technological Advancements arc Revolutionizing Marketing Strategies and Consumer Engagement Exploring the Growth of Voice-Activated Devices and Their Impact on Consumer Behavior Creating Erictionless Online Shopping Journeys That Mirror In-Store Experiences Generational Shifts: Gen Z and Gen
Alpha Analyzing the Characteristics and Preferences of Upcoming Consumer Generations 251 251 252 252 254 255 256 256
Tailoring Marketing Strategies to Resonate with the Unique Traits of Gen Z and Gen Alpha Neuro-Marketing and Understanding Subconscious Triggers Unveiling the Subconscious Factors that Drive Consumer Decisions and Preferences Utilizing Neuro-Marketing Techniques to Create More Compelling and Effective Marketing Campaigns Conclusion References Index 257 258 258 259 261 263 265 |
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| spelling | Chan, Eugene Y. Verfasser aut Consumer Behavior in Practice Strategic Insights for the Modern Marketer Eugene Y. Chan Cham Springer [2024] © 2024 xxi, 267 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Consumer Behavior Branding Market Research and Competitive Intelligence Marketing Consumer behavior Branding (Marketing) Marketing research Business intelligence Erscheint auch als Online-Ausgabe 978-3-031-50947-6 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=035022546&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Chan, Eugene Y. Consumer Behavior in Practice Strategic Insights for the Modern Marketer Consumer Behavior Branding Market Research and Competitive Intelligence Marketing Consumer behavior Branding (Marketing) Marketing research Business intelligence |
| title | Consumer Behavior in Practice Strategic Insights for the Modern Marketer |
| title_auth | Consumer Behavior in Practice Strategic Insights for the Modern Marketer |
| title_exact_search | Consumer Behavior in Practice Strategic Insights for the Modern Marketer |
| title_full | Consumer Behavior in Practice Strategic Insights for the Modern Marketer Eugene Y. Chan |
| title_fullStr | Consumer Behavior in Practice Strategic Insights for the Modern Marketer Eugene Y. Chan |
| title_full_unstemmed | Consumer Behavior in Practice Strategic Insights for the Modern Marketer Eugene Y. Chan |
| title_short | Consumer Behavior in Practice |
| title_sort | consumer behavior in practice strategic insights for the modern marketer |
| title_sub | Strategic Insights for the Modern Marketer |
| topic | Consumer Behavior Branding Market Research and Competitive Intelligence Marketing Consumer behavior Branding (Marketing) Marketing research Business intelligence |
| topic_facet | Consumer Behavior Branding Market Research and Competitive Intelligence Marketing Consumer behavior Branding (Marketing) Marketing research Business intelligence |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=035022546&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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