This video explains why marketers need to focus on the triple bottom line of ROI on financial, social, and individual dimensions to succeed today.
- Ethical business is good business.…A global survey by Nielsen reported that 50% of consumers…are willing to pay more for goods and services…from companies that have implemented programs…to give back to society.…Consumers think better of the products a firm sells…when the organization behaves ethically.…Unfortunately many companies don't reward their employees…when they boost customer satisfaction…by treating people right,…even if this pays off in the long run.…
If you're not happy with a product or service,…what can you do about it?…It's tempting to take a business to court.…A judge in Washington DC made headlines…when he filed a $54 million lawsuit…against his neighborhood dry cleaner…because it lost a pair of his pinstriped suit pants.…That's probably a bit extreme.…But consumers can do a lot to complain,…especially on social media where they can…potentially damage a company's reputation pretty quickly.…
Ironically, consumers who are satisfied…with a store or brand in general are more likely…to complain if they experience something bad.…
First, learn the importance of consumer behavior in helping us understand when, why, and how purchasing decisions are made. Michael shares how factors such as color, shape, and sound influence our perception of brands and products. He discusses gender identity and products geared towards different genders, as well as how consumer lifestyles, values, and attitudes affect product preferences. Michael also goes into external influences on consumer behavior, covering how groups make decisions and how ideas spread. Finally, Michael explores the role emotion plays in purchase decisions, and how you can structure messages to maximize persuasion.
- Sensory marketing as a strategic tool
- How gender identity can affect product choice
- Personality and brand image
- Decision-making in groups
- Retailing as theater
- How ideas spread through the market
- Persuasive communications
- Influencing consumer behavior