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William Glackens, The Shoppers, 1907-1908, Chrysler Museum of Art, Norfolk, Virginia

How Price Expectations Drive Customer Purchasing Decisions

Idea posted: November 2014
  • Marketing

Customers have price expectations in their minds before entering a store, as well as expectations of prices in other stores. How customers update their expectations once they see the actual prices can help businesses better manage their promotions and sales for maximum effect. 

Idea #463
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The Creation of Adam, Sistine Chapel, fresco detail, 1509, by Michelangelo

Digit Ratio Predicts Men's Product Choices

Idea posted: April 2014
  • CSR & Governance
  • Learning & Behaviour
  • Marketing

Marketers have long known that product choice cannot be predicted reliably by knowing someone’s sex. Multiple factors — ranging from age and income to lifestyle and family preferences — influence purchasing decisions. Now, there’s another variable to add to the list. Recent empirical research suggests that digit ratio — the relative lengths of the fore and third fingers — is linked to the product choices of men.

Idea #366
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"Drink Coca-Cola 5¢", an 1890s advertising poster (Source: Wikimedia Commons) 

How Advert-Evoked Feelings Sway Attitudes to Brands

Idea posted: April 2014
  • Marketing

A new study, recreating real-world marketplace conditions, shows that positive feelings evoked by ads can create positive feelings toward brands, both directly and indirectly. This applies to all products, although hedonistic products show the greatest impact of ads on brand attitudes.

Idea #363
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The Distribution of Bread in the Village, Frans van Leemputten, 1892 (Source: Wikimedia Commons)

Do CSR Initiatives Enhance Customer Loyalty?

Idea posted: March 2014
  • CSR & Governance
  • Marketing

Are customers more loyal to retailers who engage in corporate social responsibility (CSR) activities? In general, CSR is going to earn customer loyalty, although a closer look reveals that the type of CSR makes a difference. CSR related to the customer experience — involving employees and products — inspires the most loyalty, followed by community support activities. Environmental projects generate less enthusiasm from customers, and with some customers actually have a negative effect.

Idea #346
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The Effect of Pruning Sales Channels

Idea posted: November 2013
  • Marketing

A firm that eliminates a search or purchase channel, such as a catalogue, will lose customers who prefer that channel. The decision to eliminate a channel can still be profitable in the long run, as long as the savings from the elimination is greater than the lost revenues. Managers can help the math by taking proactive steps to reduce the level of lost revenues.

Idea #252
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