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Consumer Behavior
Consumer behavior is the study of individuals, groups, or organizations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how 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 (such as 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 the influences on the consumer, from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brand Loyalty
In marketing, brand loyalty describes a consumer's positive feelings towards a brand, and their dedication to purchasing the brand's products and/or services repeatedly, regardless of deficiencies, a competitor's actions, or changes in the environment. It can also be demonstrated with other behaviors such as positive word-of-mouth advocacy. Corporate brand loyalty is where an individual buys products from the same manufacturer repeatedly and without wavering, rather than from other suppliers. Loyalty implies dedication and should not be confused with habit with its less-than-emotional engagement and commitment. Businesses whose financial and ethical values (for example, ESG responsibilities) rest in large part on their brand loyalty are said to use the loyalty business model. Marketing Brand loyalty, in marketing, consists of a consumer's commitment to repurchase or continue to use the brand. Consumers can demonstrate brand loyalty by repeatedly buying a product, service, o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clinical Psychology
Clinical psychology is an integration of social science, theory, and clinical knowledge for the purpose of understanding, preventing, and relieving psychologically based distress or dysfunction and to promote subjective well-being and personal development. Plante, Thomas. (2005). ''Contemporary Clinical Psychology.'' New York: Wiley. Central to its practice are psychological assessment, clinical formulation, and psychotherapy, although clinical psychologists also engage in research, teaching, consultation, forensic testimony, and program development and administration.Brain, Christine. (2002). ''Advanced psychology: applications, issues and perspectives.'' Cheltenham: Nelson Thornes. In many countries, clinical psychology is a regulated mental health profession. The field is generally considered to have begun in 1896 with the opening of the first psychological clinic at the University of Pennsylvania by Lightner Witmer. In the first half of the 20th century, clinical psy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relationship Marketing
Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages. With the growth of the Internet and mobile platforms, relationship marketing has continued to evolve as technology opens more collaborative and social communication channels such as tools for managing relationships with customers that go beyond demographics and customer service data collection. Relationship marketing extends to include inbound marketing, a combination of search optimization and strategic content, public relations, social media and application development. Development Relationship marketing refers to an arrangement where both the buyer and seller have an interest in a more satisfyi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Segmentation
In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as ''segments'') based on some type of shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles, or even similar demographic profiles. The overall aim of segmentation is to identify ''high yield segments'' – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention (i.e. become target markets). Many different ways to segment a market have been identified. Business-to-business (B2B) sellers might segment the market into different types of businesses or countries, while business-to-consumer (B2C) sellers might segment the market into demographic segments, such as lifestyle, behav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Retention
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to, continue to buy or in some other way not defect to another product or business, or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services, but also to the way it services its existing customers, the value the customers actually perceive as a result of utilizing the solutions, and the reputation it creates within and across the marketplace. Successful customer retention involves more than giving the customer what they expect. Ge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aggregate Data
Aggregate data is high-level data which is acquired by combining individual-level data. For instance, the output of an industry is an aggregate of the firms’ individual outputs within that industry. Aggregate data are applied in statistics, data warehouses, and in economics. There is a distinction between aggregate data and individual data. Aggregate data refers to individual data that are averaged by geographic area, by year, by service agency, or by other means. Individual data are disaggregated individual results and are used to conduct analyses for estimation of subgroup differences. Aggregate data are mainly used by researchers and analysts, policymakers, banks and administrators for multiple reasons. They are used to evaluate policies, recognise trends and patterns of processes, gain relevant insights, and assess current measures for strategic planning. Aggregate data collected from various sources are used in different areas of studies such as comparative political ana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Relationship Management
Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study big data, large amounts of information. CRM systems data collection, compile data from a range of different communication channels, including a company's website, telephone, email, live chat, marketing materials and more recently, social media. They allow businesses to learn more about their target audiences and how to best cater for their needs, thus customer retention, retaining customers and driving sales growth. CRM may be used with past, present or potential customers. The concepts, procedures, and rules that a corporation follows when communicating with its consumers are referred to as CRM. This complete connection covers direct contact with customers, such as sales and service-related operations, forecasting, and the analysis of consumer patterns and behaviors, from the perspective of the company. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Machine Learning
Machine learning (ML) is a field of inquiry devoted to understanding and building methods that 'learn', that is, methods that leverage data to improve performance on some set of tasks. It is seen as a part of artificial intelligence. Machine learning algorithms build a model based on sample data, known as training data, in order to make predictions or decisions without being explicitly programmed to do so. Machine learning algorithms are used in a wide variety of applications, such as in medicine, email filtering, speech recognition, agriculture, and computer vision, where it is difficult or unfeasible to develop conventional algorithms to perform the needed tasks.Hu, J.; Niu, H.; Carrasco, J.; Lennox, B.; Arvin, F.,Voronoi-Based Multi-Robot Autonomous Exploration in Unknown Environments via Deep Reinforcement Learning IEEE Transactions on Vehicular Technology, 2020. A subset of machine learning is closely related to computational statistics, which focuses on making predicti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Neuroscience
Consumer neuroscience is the combination of consumer research with modern neuroscience. The goal of the field is to find neural explanations for consumer behaviors in individuals both with or without disease. Consumer research Consumer research has existed for more than a century and has been well established as a combination of sociology, psychology, and anthropology, and popular topics in the field revolve around consumer decision-making, advertising, and branding. For decades, however, consumer researchers had never been able to directly record the internal mental processes that govern consumer behavior; they always were limited to designing experiments in which they alter the external conditions in order to view the ways in which changing variables may affect consumer behavior (examples include changing the packaging or changing a subject’s mood). With the integration of neuroscience with consumer research, it is possible to go directly into the brain to discover the neural ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opinion Leadership
Opinion leadership is leadership by an active media user who interprets the meaning of media messages or content for lower-end media users. Typically opinion leaders are held in high esteem by those who accept their opinions. Opinion leadership comes from the theory of two-step flow of communication propounded by Paul Lazarsfeld and Elihu Katz. Significant developers of the opinion leader concept have been Robert K. Merton, C. Wright Mills and Bernard Berelson. This theory is one of several models that try to explain the diffusion of innovations, ideas, or commercial products. Opinion leaders play an important role in information flow, because we tend to seek advice from others in the social environment. Information from the mass media does not directly flow to the target audiences, but through a mediation process, in which influential people digest the information and spread it to the public. Opinion leaders have certain characteristics that make them influential in the decision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Influencer Marketing
Influencer marketing (also known as influence marketing) is a form of social media marketing involving endorsements and product placement from influencers, people and organizations who have a purported expert level of knowledge or social influence in their field. Influencers are someone (or something) with the power to affect the buying habits or quantifiable actions of others by uploading some form of original—often sponsored—content to social media platforms like Instagram, YouTube, Snapchat or other online channels. Influencer marketing is when a brand enrolls influencers who have an established credibility and audience on social media platforms to discuss or mention the brand in a social media post. Influencer content may be framed as testimonial advertising. Social influence Most discussions of social influence focus on social persuasion and compliance. In the context of influencer marketing, influence is less about arguing for a point of view or product than ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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