1, 10 Fundamental Differences Between Consumer & Business Marketing
1, 10 Fundamental Differences Between Consumer & Business Marketing
"Marketing management is 'the art and science of choosing target markets and getting,
keeping, and growing customers through creating, delivering, and communicating
superior customer value' (Kotler and Keller, 2008: 5)."
The concept reviews the process used to determine what products or services may be of interest to customers and
the strategy to use for marketing mix. It also explores the process of understanding, creating and delivering value
to targeted business markets and customers.
Marketing Management Definition
marketing management. Marketing management is defined as the process of overseeing and
planning new product development, advertising, promotions and sales. An example of
marketing management is creating an advertising plan and implementing that plan.
YourDictionary definition and usage example. "Marketing management.". YourDictionary.
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It’s true. Business buyers are people, too. They seek personal benefits and make emotional
buying decisions just as in their consumer lives. Gone are the days of stodgy, feature-driven
industrial marketing campaigns. Business marketers now rival their consumer counterparts with
increasingly engaging and entertaining creative strategies.
Still, there remain intrinsic differences between business-to-business (B2B) and business-to-
consumer marketing (B2C). The source of these differences is the complex and interdependent
relationships between business buyers and sellers and their relative positions in the supply chain.
Consumer marketing sells products to individual consumers and households who purchase for
their own consumption. The B2B market; however, is composed of a succession of companies
acquiring goods and services for the production of other products and services that are sold,
rented or supplied to other companies. This creates a highly complex and continuous sequence of
businesses buying from other businesses.
Keeping these critical differences in mind may help B2B marketers in planning strategies and
crafting offers.
Most consumer goods are discretionary products people may want but don’t necessarily need, for
example entertainment services, consumer electronics or vacation travel. Consumer buying
behavior is based on perceived characteristics such as style, fashion or peer acceptance.
Emotional factors play a big part in consumers’ purchase decisions. So consumer marketing
focuses on stimulating discretionary buying behavior through persuasive messaging and media
investments to generate demand.
In contrast, businesses usually come prepared to buy a solution to a need – products that are
required for daily operations, or to solve a specific business problem. Their need pre-exists.
Product performance characteristics are far more important than the image of the product.
Business buyers are less emotional and more task oriented. It’s simply a matter of finding the
supplier who can best fulfill that need.
Business marketers generally sell to narrower vertical markets substantially smaller than most
consumer markets. B2B marketers may target only a few hundred prospects but consumer
markets can number in the millions. Due to the smaller size it’s often possible to identify and
profile all the prospects within a particular business market and approach each with customized
marketing communications and in-person sales contact.
Business marketers focus on fewer, more intimate and longer-term customer relationships. Sales
involve significantly higher average dollar amounts to smaller groups of customers with
exponentially greater lifetime values. A few large customers can easily account for the majority
of a B2B company’s revenue. Due to the significantly higher transaction amounts and lifetime
values, B2B tactics can accommodate a higher marketing investment per contact.
In consumer marketing, the relationship often ends with a remote transaction made through a
retailer. The manufacturer rarely makes personal contact with the consumer. In business
marketing, the buyer-seller proximity is reversed. In most cases the supplier visits the customer
in person and establishes a true one-to-one relationship with the customer over an extended
period of time.
5. Product Importance
The physical product is of greatest importance in consumer markets. In B2B markets, the
purchase extends beyond the product and includes an array of economic, technical and personal
relationships between buyer and seller.
While the product quality is important, this must be matched by quality and reliability of the
relationship. The buyer depends on the supplier for many things beyond the product itself,
including an assured supply of materials, service, efficient order handling, delivery, and often
extension of credit. These factors can have more influence than having the perfect product, since
supply chain complications cost the customer in terms of stock, downtime, lost orders, etc.
Many business products are specialized and require a high degree of technical customization for
specific applications. Even everyday products tend to be more complicated because of their use
and application in specialized business processes. The widely varying needs of business
customers dictates highly personalized marketing, including customized products, services and
prices. Even meeting buyers’ basic operational buying needs typically requires some level of
customization to logistics quantities, delivery and invoicing.
B2B marketing requires that all parts of the business be customer-oriented and that all marketing
decisions are based on a complete and accurate understanding of customers’ needs. B2B
companies are usually closer to their customers and more knowledgeable about their needs than
the typical consumer company.
Consumer marketing is aimed at a mass market and doesn’t require deep knowledge of the
product or supplier to make a purchase decision. Business buyers are comparatively more
sophisticated and educated than consumers. The business customer has years of training in his or
her field and often knows more about the product and its application than the B2B marketer.
The expertise of business buyers falls into two categories: buying process or technical expertise.
Procurement managers are buying experts whose sole function is to procure products and
services on behalf of the company. Technical experts and users possess a strong understanding
and interest in the problem to be solved and the product being marketed as the solution. And
throughout the sales process business buyers continue to learn about a supplier’s cost structures,
production methods, development expertise and financial viability.
Every business organization has formal purchasing policies, procedures and levels of purchasing
authority that don’t exist for consumers. Business buying processes are complex and highly
structured requiring multiple steps drawn out over a period of time and involving a wide range of
individuals representing various areas of expertise or interest from within the organization.
Marketers must recognize when it’s time to stop nurturing leads through marketing channels and
hand those prospects off to the sales team. Conversely, sales must recognize when to recycle
dormant leads back to marketing for further nurturing.
Market Structure:
There are fewer numbers of buyers and sellers in business markets. The
business market is larger than consumers markets because it includes the
business of various intermediaries.
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i. Business markets have fewer sellers and buyers in any market segment
than do consumer markets.
ii. Customers in consumer markets initiate a direct demand with their
purchases. The demand for business products or services depends on the
level of activity that the buying organization can create in its own markets.
Thus business demand is derived. This derived demand would not exist if
the buyer organization could not find customers for its own products or
services.
iii. The business buyer may buy an equipment to produce five hundred
units a day. A second equipment will be required only if sales are expected
to exceed five hundred units. But as soon as the business buyer’s sale
exceeds five hundred units, he will buy another equipment, increasing the
sale of business marketer’s product by hundred per cent.
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iv. When business buyers see prices starting to decline, they may postpone
buying in the expectation of obtaining an even lower price later. The
opposite happens if the business buyer anticipates continuing price
increases.
In this case, when prices began to rise, more volume than is immediately
needed is purchased to avoid paying even higher prices later. Such reverse
price elasticity of demand is rare in consumer markets.
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The members of the group are influential people of the buying organization.
Each individual imposes different perspectives, expectations and
requirements on the purchase.
Marketing Perspective:
Business marketers are required to have in-depth knowledge of their
customers’ requirements. Business markets are global in nature because
only technical requirements govern the acceptability of the product in
various country markets.
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iv. Most consumer marketers seek market share and sales volumes.
Business marketers are more likely to have a sizeable share of highly
segmented, smaller, specialized markets, resulting in more restricted sales
volumes. Thus business marketers focus on improving profits in the short
run.
v. In consumer markets, innovation involves greater emphasis on style and
incremental changes to products that can justify model changes. Innovation
tends to be more of demand-pull type, i.e., new products are developed as a
result of research of customer needs.
They have not been much successful. Loyalty in business markets is the
result of dependence that buyers and sellers have on each other. Unless the
state of such dependence is replicated in consumer markets, customers of
consumer products will remain fickle-minded.
In such situations reciprocity may be practiced i.e., they decide to buy from
each other. Reciprocity is rarely possible in consumer markets.
viii. Among the customers of business marketers there are some customers
whose business is so important that its loss would seriously erode the
marketer’s sales volume and profitability. These important customers are
called key accounts.
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The marketer must maintain close contact with these important customers
to retain its business with them. A similar situation is absent in consumer
markets. A small set of customers will not be able to affect the sales of a
consumer product severely because the number of customers is very large.
Customer Behaviour:
Business buyers focus on rational benefits of the seller’s offer. Many people
of the buyer’s organization are involved in any purchase decision.
i. Because their number of customers is small and there is frequent face-to-
face contact, business marketers are closer to customers and more in tune
with customers’ buying behaviour.
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ii. The number of customers in business markets are small, but their per
order size is normally high. They buy to keep in inventory so that the item
can be used in future. They buy in bulk because they want to minimize
transportation cost and the cost incurred in placing an order.
They also buy in bulk and keep inventory to minimize chances of disruption
in their work if a supplier failed to supply on time. Business buyers may
have contracts to purchase items for a year with a supplier.
vi. Business buyers show strong loyalty to their current supplier. Such
supplier loyalty is an outcome of the strong interdependence between
business buyers and their suppliers.
The business buyers who change suppliers face high switching costs, such
as the costs of training a new supplier in the intricacies of the buyer’s
business, the possible loss of confidential trade secrets if the supplier is
abandoned, and the high cost of identifying an alternative supplier.
viii. The business buying decision process is complex and involves several
functional areas of the buying organization. Each function may have a
different point of view and interest in the purchase. Committees discuss a
purchase using documented data, proposals, specifications and supplier
analysis.
Business buyers often have the option of making the product themselves
instead of buying it. The business decision making process is observable
and moves through distinctive stages. The decision making process for
major supplies may take a long time.
ix. The business buyer’s risk can be very high. It is greatest in the new-task
situation, in which the buyer has not encountered such a buying situation.
Risk is least in the straight-rebuy situation, in which the item just has to be
reordered.
But even in straight rebuy there are risks such as the item not being
delivered on time. Performance risk is reduced by purchasing from large,
well-known and reputable suppliers and by continuing to buy from the
same supplier. In consumer markets the risks to customers are less.
Five Types of Business Markets
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All businesses sell something, whether that means offering products to help other businesses
run more smoothly or a service that lets people watch movies from home. What the business
sells and who they sell it to defines the type of business market they participate in. It is critical
for every business owner to be able to identify their business market so they know how to best
identify their target audience and promote their products efficiently.
Business-to-Consumer Market
A business-to-consumer or "B2C" market is one in which a business advertises and sells its
products directly to individual consumers. This is the largest type of business market because
of its mass market of customers. Examples include grocery stores, clothing stores and car
dealerships. Franchises, or businesses that sell the rights to operate branches of their
company to others, also fall under the consumer market category as long as the final buyers
are individual consumers. A well-known consumer market franchise is the chain restaurant.
Business-to-Business Market
The business-to-business or "B2B" market has a focus on products, goods and services that
are typically sold to other businesses rather than direct to consumers. Examples include office
furniture, corporate accounting services and conference and exhibit supplies. Many business-
to-business markets have some overlap with consumer markets, for example, a cleaning
company may provide both residential and commercial services.
Services Market
In a service market, a business sells services rather than products. The business might deal
exclusively with consumers, for example, providing telephone services, plumbing and
electrical work to the consumer market. Or, it could be a B2B services firm, selling business
accounting or consultancy services, for example. In some instances a consumer product may
be sold in conjunction with the service. An example is a hair salon that provides the service of
cutting hair, but also sells shampoo and other personal care products.
Industrial Market
Industrial markets sell industrial or production products, good and services to other business
industries. These are often goods that are not marketed to consumers, such as raw materials
like steel, glass and wood or large-scale goods such as multi-network computer systems.
Industrial markets have a much smaller target audience than other markets because the
products and services it supplies are not focused on a mass market.
Professional services are those categorized as specialized areas of business that typically
come with a degree of accountability in terms of licensing and certification. Examples include
legal and medical services. As with the business-to-business market, there is sometimes
overlap between markets. For example, a law firm may represent both individuals as well as
corporations.
2. CONSUMER AND BUSINESS
PRODUCTS
The classification of products and services is essential to business because it provides one of
the factors for determining the strategies needed to move them through the marketing
system. The two major classes are consumer products and business products.
CONSUMER PRODUCTS
Consumer products are products purchased for personal, family, or household use. They are
often grouped into four subcategories on the basis of consumer buying habits: convenience
products, shopping products, specialty products and unsought products.
Consumer products can also be differentiated on the basis of durability. Durable products are
products that have a long life, such as furniture and garden tools. Non-durable products are
those that are quickly used up or worn out, or that become outdated, such as food, school
supplies, and disposable cameras.
Convenience Products
Convenience products are items that buyers want to purchase with the least amount of effort,
that is, as conveniently as possible. Most are non-durable products of low value that are
frequently purchased in small quantities. These products can be further divided into three
subcategories: staple, impulse, and emergency items.
Staple convenience products are basic items that buyers plan to buy before they enter a store,
and include milk, bread, and toilet paper. Impulse items are other convenience products that
are purchased without prior planning, such as candy bars, soft drinks, and tabloid
newspapers. Emergency products are those that are purchased in response to an immediate,
unexpected need such as ambulance service or a fuel pump for the car.
Since convenience products are not actually sought out by consumers, producers attempt to
get as wide a distribution as possible through various marketing channels—which may
include different types of wholesale and retail vendors. Convenience stores, vending
machines, and fast food are examples of retailer focus on convenience products. Within
stores, they are placed at checkout stands and other high-traffic areas.
Shopping Products
Shopping products are purchased only after the buyer compares the various products and
brands available through different retailers before making a deliberate buying decision.
These products are usually of higher value than convenience goods, bought less frequently,
and are durable. Price, quality, style, and color are typically factors in the buying decision.
Televisions, computers, lawn mowers, bedding, and appliances are all examples of shopping
products.
Because customers are going to shop for these products, a fundamental strategy in
establishing stores that specialize in shopping products is to locate near similar stores in
active shopping areas. Promotion for shopping products is often done cooperatively with the
manufacturers and frequently includes the heavy use of advertising in local media, including
newspapers, radio, and television.
Specialty Products
Specialty products are items that consumers seek out because of their unique characteristics
or brand identification. Buyers know exactly what they want and are willing to exert
considerable effort to obtain it. These products are usually, but not necessarily, of high value.
This category includes both durable and non-durable products. Specialty products differ from
shopping products primarily because price is not the chief consideration. Often the attributes
that make them unique are brand preference (e.g., a certain make of automobile) or personal
preference (e.g., a food dish prepared in a specific way). Other items that fall into this
category are wedding dresses, antiques, fine jewelry, and golf clubs.
Producers and distributors of specialty products prefer to place their products only in selected
retail outlets. These outlets are chosen on the basis of their willingness and ability to provide
an image of status, targeted advertising, and personal selling for the product. Consistency of
image between the product and the store is also important.
Unsought Products
Unsought products are those products that consumers are either unaware of or have little
interest in actively pursuing. Examples are new innovations, life insurance, and preplanned
funeral services. Because of the lack of awareness of these products or the need for them,
heavy promotion is often required.
The distinction among convenience, shopping, specialty, and unsought products is not
always clear. As noted earlier, these classifications are based on consumers' buying habits.
Consequently, a given item may be a convenience good for one person, a shopping good for
another, and a specialty good for a third, depending on the situation and the demographics
and attitudes of the consumer.
BUSINESS PRODUCTS
Business products are products and services that companies purchase to produce their own
products or to operate their business. Unlike consumer products, business products are
classified on the basis of their use rather than customer buying habits. These products are
divided into six subcategories: installations; accessory equipment; raw materials; component
parts and processed materials; maintenance, repair, and operating supplies; and business
services.
Business products also carry designations related to their durability. Durable business
products that cost large sums of money are referred to as capital items. Nondurable products
that are used up within a year are called expense items.
Installations
Installations are major capital items that are typically used directly in the production process
of products. Some installations, such as conveyor systems, robotics equipment, and machine
tools, are designed and built for specialized situations. Other installations, such as stamping
machines, large commercial ovens, and computerized axial tomography scan machines, are
built to a standard design but can be modified to meet individual requirements.
The purchase of installations requires extensive research and careful decision making on the
part of the buyer. Manufacturers of installations can make their availability known through
advertising. Actual sale of installations, however, requires the technical knowledge and
assistance that can best be provided by personal selling.
Accessory Equipment
Products that fall into the subcategory of accessory equipment are less expensive and have
shorter lives than installations. Examples include hand tools, computers, desk calculators,
and forklifts. While some types of accessory equipment, such as hand tools, are involved
directly in the production process, most are only indirectly involved.
The relatively low unit value of accessory equipment, combined with a market made up of
buyers from several different types of businesses, dictates a broad marketing strategy. Sellers
rely heavily on advertisements in trade publications and mailings to purchasing agents and
other business buyers. When personal selling is needed, it is usually done by intermediaries,
such as wholesalers.
Raw Materials
Raw materials are products that are purchased in their raw state for the purpose of processing
them into consumer or business products. Examples are iron ore, crude oil, diamonds,
copper, timber, wheat, and leather. Some (e.g., wheat) may be converted directly into another
consumer product (cereal). Others (e.g., timber) may be converted into an intermediate
product (lumber) to be resold for use in another industry (construction).
Most raw materials are graded according to quality so that there is some assurance of
consistency within each grade. There is, however, little difference between offerings within a
grade. Consequently, sales negotiations focus on price, delivery, and credit terms. This
negotiation, and because raw materials are ordinarily sold in large quantities, makes personal
selling the principal marketing approach for these goods.
Overall, there are many sub parts of the major classes, and each of them has a
separate role in the classification of Industrial products. Let us delve deeper into the
classification.
Page Contents
1) Material & Parts
The goods that enter the manufacturers products completely are classified as
Materials and parts. In this, there are two types of materials commonly used for
Industrial goods classification.
b) Natural products – Natural products are products occuring naturally in the earth
and hence they cannot be recycled or re produced. Petrol or Diesel or oil (commonly
used) are products which occur naturally and can be classified as an
Industrial product. These products are found in bulk and the rarer they are, the
higher the value. Price is totally dependent on reliability of supply and keeps
changing. Government intervention for these products is high too.
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b) Manufactured Parts – Using the same example above, if we are making smaller
units which play their role in larger products, then we are manufacturing parts as an
industrial product. Ball bearings are the perfect example of Manufactured parts.
Now, there are so many ball bearings manufacturers out there, that their marketing
has become tedious as there is no or very less differentiation possible. Hence,
pricing and availibility of manufactured parts becomes a major issue instead of
advertising, branding or marketing.
3) Capital items
To make any manufacturing business or large scale industry possible, capital items
are used. They are important in the classification of industrial products. Capital items
generally fall under the Assets column of the balance sheet. These are items
necessary for the functioning of the organization, and very useful to be invested in
for the long term. Due to their very nature, these capital items have a residual value
to the company. And hence a company which has large capital, has to ensure that it
has large revenue, otherwise Capital (which is a fixed cost) will bring the company
down. There are two types of capital items
4) Supplies
Any short term goods or material which is necessary for the day to day operations or
a company or businesses is termed as supplies. A simple exam is A4 sized paper.
Can you imagine the amount of paper it takes to make a company
like Accenture work? A single office might need 1000’s of papers a day for print
outs.
Supplies are marketed via intermediaries and not directly through companies. The
reach of the supplies manufacturers needs to be far and wide and regular supply of
the product is more important then marketing. Supplies are divided in 2 formats
b) Operating supplies – Pen and paper, notepads, lubricants for automobiles are
part of the operating supplies needed on a day to day basis. Kangaro is an excellent
brand which comes to mind when it comes to staplers and staple pins.
5) Business services
The above was 5 of the major classification of Industrial products and the numerous
sub classes within them. Depending on the abilities of the small business or the
large business, they can contribute to one sub class or another. You can be a bulk
seller to one company (automobile OEM), or you can sell small items in bulk to large
companies (Paper distributor).
After the industrial revolution, innovation became common, and engineering skills grew immensely.
This led to making of machines that were able to produce large quantities that were unseen at that
period. So, mass production became a habit of industries. Because of this, supply outpaced demand
in many industries. Businesses had to find ways to dispose the excess quantities that were not sold
by their own. Firms decided to promote their products extensively and persuade customers for
purchase. Selling concept emerged as a result of this.
Selling concept can be classified as ‘persuading and convincing customers to purchase goods
of the firm by extensive promotional modes.’ The promotion tools used were advertising and
personal selling. Selling concept believes that customers will not buy enough unless they are pushed
to buy. Still, for certain products, selling concept is being used. Examples are life insurance,
retirement plans, and firefighting equipment.
The selling concept has its drawbacks. This concept only advocates seller’s side.
The customer’s side has been neglected. Here, the goal is to sell what they produce than what
customer really wants. So, whether customer wants the product is questionable. With
continuous persuading, customer might purchase the product, but it will be one-time business for the
company as it’s a burden for the customer. Customer has more options and is aware of such options
nowadays due to over capacity and constant advertising. Therefore, this approach is not suitable for
most products at the current time.
The drawbacks of the selling concept lead to new thinking in the business world. With more options
and higher disposable income customer had the luxury to choose what they wanted. Also, their
demand power increased. Therefore, a question arose in the business community that is – what do
customers want. These changes of mindset led to the rise of the marketing concept. Marketing
concept can be classified as the collective activity of satisfying customer wants and
needs while meeting the organization objectives. Simply, it’s the process of satisfying the
customers while making a profit . Marketing concept treats the customer as the king.
Though it seems simple, practicing this concept is highly complex. This complex process starts from
product preconception till the after sales service. Also, the commitment of the whole organization is a
mandatory requirement for complete success. Customer desires should be incorporated into all
aspects. In order to understand customer needs and wants, continuous marketing research is vital.
A smaller organization can collect such data by simply talking with their customers. But, for large
organizations, methods such as marketing surveys and focus group studies would be useful.
Through marketing research, the firm will be able to perform segmentation based on size and needs
of customers.
The main benefits of marketing concept for an organization are customer loyalty and customer
retention. An increase in customer retention by 5% can result in an increase of 40 – 50% in profit as
per a study by Reichheld and Sasser. Effective implementation of marketing concept can be of high
benefit if practiced well. So, marketing concept provides a firm with the ability to satisfy customers
while making profits.
The evolution of marketing has lead to various theories and concepts for business success. Out of
which, selling concept and marketing concept are widely evaluated. We can find some significant
differences between them.
• Focus:
• The selling concept focuses on mass production, and persuading customer to purchase, enabling
the firm to make profits.
• The marketing concept’s objective is to have happy customers while making reasonable profits.
• Profits:
• In the selling concept, profits arise from sales volumes. More sales mean more the profit.
• With marketing concept, the profit is attained through customer retention and loyalty. Customer
retention is achieved via customer satisfaction.
• Competition:
• Selling concept will not provide a competitive edge and will be less favorable in a competitive
environment.
• Marketing concept develops mutual relationship between seller and customer. Therefore, it is more
favorable in a competitive environment.
• Definition of Business:
• With selling concept, businesses are defined by the goods and service they sell.
• In marketing concept, businesses are defined by the benefit customers derive from the activity of
the organization.
The difference between selling concept and marketing concept has been detailed above. The era of
selling concept has ended and more businesses concentrate on the marketing concept. New
thinking in future can lead to further advancement of business theories for success.
References:
1. Kotler, T and Keller K. (2012). Marketing Management. 14e Global ed., Pearson Education.
2. Reichheld, F. E. and Sasser Jr, W. E. (1990). Zero Defections: Quality Comes to
Services.Harvard Business Review. September-October, pg. 105 – 111.
Images Courtesy:
A company can have more than one product line. The number of product lines it has reflects its
resources, i.e., how powerful it is.
Product line numbers might also show the other players in the marketplace how competitive the
company is. In this context, the term ‘marketplace’ means the same as ‘market’ in its abstract
sense.
Examples
June 16, 2016 by Sumit Thakur
6.2Examples of Attributes
An attribute is defined as a quality or characteristic of a person, place, or thing. Real life
individuals and fictional characters possess various attributes. For example, someone might be
labeled beautiful, charming, funny, or intelligent. These are all attributes, but don't those labels
seem to ring true as traits too?
There is a difference between attributes and traits, but it is slight and some characteristics could
be considered either an attribute or a trait. Let's consider the difference between the two, and
throw in skills too, before we take a look at some examples of attributes.
A skill, on the other hand, is generally something that is taught. A person will undergo training to
learn or improve a particular skill. These might include calligraphy, computer coding, or car
repair.
Meanwhile, a trait is an ingrained characteristic or habit that is difficult to learn or unlearn, like
shyness or confidence.
To explore the topic of traits more, take a look at some character trait examples.
Positive Attributes
As you look at people around you or develop a character study for your latest short story or
novel, how would you label them? What are their attributes? Will these labels denote positive
qualities or characteristics? If so, try one of these attributes on for size:
Negative Attributes
Every story needs conflict or a villain. Although one of these attributes may
not be their identifying characteristic, or trait, it might be one of the markers
you'll use to describe them. Let's take a look:
Arrogant Cynical Inflexible Pessimistic Thoughtless
Belligerent Deceitful Intolerant Pompous Truculent
Irresponsibl
Boastful Detached Possessive Unkind
e
Quarrelsom
Boring Dishonest Jealous Unpredictable
e
Bossy Domineering Lazy Resentful Unreliable
Callous Foolish Mean Rude Untrustworthy
Careless Greedy Moody Sarcastic Vague
Compulsiv
Gullible Nasty Selfish Vain
e
Cowardly Impolite Nervous Stupid Vengeful
Inconsiderat
Cruel Patronizing Tactless Vulgar
e
Professional Attributes
Finally, some attributes aren't quite so personal. Especially in the workplace,
certain attributes are simply matter-of-fact. Maybe one of the characters in
your book will meet his enterprising lawyer or efficient book editor. If so, you
might want to consider honing in on one of these attributes:
Accountable Dependabl Focused Motivated Respectful
e
Adaptable Determined Forgiving Objective Scheduled
Authentic Diligent Generous Organized Scrupulous
Broadminde Hardworkin
Disciplined Passionate Selfless
d g
Caring Effective Humble Patient Sincere
Perseveran
Collaborative Efficient Innovative Studious
t
Consistent Empathetic Kind Planner Thinker
Courteous Engaging Listens well Precise Transparent
Credible EnthusiasticLoyal Proactive Trustworthy
Decisive Evolving Methodical Realistic Truthful
Attributes Abound
Most of us have more than one attribute. We can be clever and funny, or
beautiful and honest. While it's true traits are more singular and identifying, it's
interesting to see people's attributes unfold. Whether real-life or fictional,
attributes abound for many of us.
If you'd like to dive deeper into aspects of personality types and traits, enjoy
these Examples of Personality Traits. There, you'll learn more about the
famous Myers-Briggs indicators and it may help you develop your new
character with wonderful depth. Happy labeling!
How to choose Branding Elements to build Brand
7.
Equity
There are 6 integral criteria for choosing your brand elements:
1) Memorability
2) Meaningfulness
3) Likability
4) Transferability
5) Adaptability
6) Protectability
1. Memorability: Brand elements that help achieve a high level of brand awareness or attention to the
brand, in turn facilitate the recognition and recall of a brand during purchase or consumption.
2. Meaningfulness: Here a marketer needs to ensure that brand elements are descriptive and
suggesting something about the product category of the brand. This is important to develop
awareness and recognition for the brand in a particular product category.
Secondly, the brand elements also need to have a persuasive meaning and suggest something about
the particular benefits and attributes of the brand. This is necessary for defining the positioning of
the brand in a particular category.
3. Likability: Brand Elements need to be inherently fun, interesting, colourful and not necessarily
always directly related to the product.
A memorable, meaningful and likable brand element makes it easier to build brand recognition and
brand equity, thus reducing the burden on the marketer and thereby reducing the cost of marketing
communications.
The above 3 criteria constitute the "Offensive Strategy" towards building brand equity
4. Transferability: is the extent to which brand elements can add brand equity to new products of the
brand in the line extensions. Another point, a marketer needs to keep in mind is that the brand
element should be able to add brand equity across geographical boundaries and market segments.
For example, brand names like “Apple”, “Blackberry” represent fruits the world over, thus as a brand
name it doesn't restrict brands and product extensions.
5. Adaptability: Consumer opinions, values and views keep changing over a period of time. The more
adaptable and flexible brand elements are the easier it is to keep up changing and up to date from
time to time to suit the consumers liking and views. For example, Coca -Cola has been updating it's
logo over the years to keep up with the latest trends, fashions and opinions.
6. Protectability: the final criteria in choosing a brand element is that it should be protectable legally
and competitively. Brand elements need to be chosen in such a way, that they can be internationally
protected legally, legally registered with legal bodies. Marketers need to voraciously defend their
trademarks from unauthorized competitive infringements.
The above 3 criteria constitute the "Defensive strategy" towards leveraging and maintaining brand
equity
The most ideal brand elements would be those which satisfy all the criteria. But it is not possible
have a brand element which would satisfy all the above criteria. For example, if we choose a brand
name which is most meaningful in a country or culture or a market segment, it would be very
difficult to make it transferable to other brand extensions and to other cultures and market
segments.
how do we analyzes when is their purchase pattern going to change. Of course only
the influencing factors will confirm what will change the consumers buying pattern.
We have four main factors that affect consumer behaviour they are;
divided in
Culture
Culture is a very complex belief of human behaviour it includes the human society,
the roles that the society plays, the behaviour of the society, its values customs and
Sub-Culture
Sub-culture is the group of people who share the same values, customs and
traditions. You can define them as the nation, the religion, racial groups and also
Social Class
Society possesses social class; in fact every society possesses one. It is important to
know what social class is being targeted as normally the buying behaviour of a social
class is quite similar. Remember not just the income but even other factors describe
Reference groups
Under social factors reference groups have a great potential of influencing consumer
behaviour. Of course its impact varies across products and brands. This group often
Family
personalities but also their families and family members who can two or more
People who belong to different organizations, groups or club members, families play
roles and have a status to maintain. These roles and status that they have to
one major factor that influences consumer behaviour. The sub factors under
Age of a consumer and his life cycle are two most important sub factors under
personal factors. With the age and the life cycle the consumers purchase options and
the motive of purchase changes, with his decisions of buying products change.
Occupation
Occupation of a consumer is affects the goods and services a consumer buys. The
occupations group has above average interest in buying different products and
Everything can be bought and sold with the help of money. If the economic
situation of a consumer is not good or stable it will affect his purchase power, in fact
if the consumers or the economy of a nation is suffering a loss it defiantly affects the
Life style
People originating from different cultures, sub cultures, occupations and even social
class have different styles of living. Life style can confirm the interest, opinions and
activities of people. Different life styles affect the purchase pattern of consumers.
Every individual is different and have different and distinct personalities. Their
distinct personalities and distinct physiology effects their buying decisions. Hence
in detail.
Motivation
needs, needs of security, social needs, esteem needs and also self actualizing needs.
Behavior
Definition: The Psychological Factors are the factors that talk about the psychology of an
individual that drive his actions to seek satisfaction. Some of the important Psychological Factors
are:
Learning: The individual’s learning depends on the skills, knowledge and intention. The
skills are developed through practice while the knowledge and intention are acquired with the
experience. There could be a conditional learning or a cognitive learning.
In the conditional learning, the consumer derives learning from being conditioned to
particular stimuli, i.e. when he is exposed to the similar situation, again and again, he
develops a particular response towards it. While in the cognitive learning the individual
applies all his knowledge, skill, attitudes, values and beliefs to find the solution of a problem
and derive satisfaction out of it.
Attitudes and Beliefs: The individuals have certain beliefs and attitudes towards
products on which their purchase decisions rests. These attitudes and beliefs are the tendency
to respond to a given product in a particular way, and these make up the brand image that
influences the consumer buying behavior. Thus, the marketers try to understand the attitudes
and beliefs of the individuals and modify these through several marketing campaigns.
Thus, these are some of the psychological factors that the marketer must take into the
consideration before undertaking the strategic marketing decision.
reality?
By Sandro Calvani, Senior Adviser and President of the Scientific
Committee of the Social Change School
Perception is more important than reality. If someone perceives something to be true, it is more
important than if it is in fact true. This doesn’t mean you should be duplicitous or deceitful, but
don’t go out of your way to correct a false assumption if it plays to your advantage. (Ivanka
Trump) [1].
This is a quote from Ivanka Trump. When I read it, I was astonished by its clarity
in declaring the acceptability of what is false.
This is how a young Ivanka Trump, daughter of the future President of the United
States, described her relation with truth and false perception, her own and
others’, in 2009. This statement is taken from a book-interview, authorized by
Ivanka Trump; so not just an impromptu line, out of context, or just a joke that
came out with her friends in the girls’ locker room. It was October 2009, and
Ivanka had just turned 28, got married and converted from Presbyterian
Christianity to Orthodox Judaism since 2 months.
We do not know if this quote, that has become extremely famous, had something to
do with her personal life. Indeed, we all agree that when we are in love, we think
our beloved is the best person in the world and we are often blind to their
flaws. When in love, we prefer to believe in our own perception of reality, instead
that in reality itself. And every religion has some “truth of Faith”, some facts
that can’t be recognized as real with scientific or historical proofs, and
therefore people of faith believe in them in the name of faith, even when a scientific
analysis of those realities would suggest that they are in fact falsities. Even the
second part of Ivanka Trump’s quote matches with many lovers or people of faith,
that indeed do not try to correct a false perception because it plays to their
advantage.
These behaviours regarding truth and false perceptions are now
completely rejected by societies that are evolved in their relations with common
good, management of public affairs, professionality that impact the lives and the
quality of the lives of everybody. Therefore, as an example, no judge would ever
allow a public prosecutor that accuses a suspect based on their own impressions
and with no proof to speak in a courtroom. In the field of health, the same goes for
a surgeon that thinks that lung cancer can be cured with lemon and bicarbonate:
obviously he is immediately expelled from the profession. Even in situations that
are much more trivial, like for example a Neapolitan pizza, the person who
expresses their perspective that it’s better to put cream and strawberries on a
pizza rather than mozzarella and tomato, is believed to be a jester by everyone. A
person who expresses such an opinion would have zero opportunity to become a
pizzaiolo.
Are these very common ostracisms against somebody else’s false perceptions a
limitation of freedom of expression? Freedom of expression is a right that has
been voiced from the very first experiments of democracy by Athenians and
is established in many modern national constitutions, including the First
Amendment of the American Constitution. However, the principles of law that
stipulate limitations to the right of opinion are equally severe, and are all part
of the concept that freedom of expression is not admissible when is provoking
severe damage to others. This is why defamation, falsification of documents,
incitement to hatred and rebellion, dissemination of false information that
create panic, like those who start yelling “fire!” in a crowded place, are never
permitted. Likewise, those who are in public administration and create or use false
information to facilitate a decision to the detriment of other people, are
punishable as forgers of public deeds in all modern judicial systems, everywhere in
the world.
Yet taking advantage of false information when it plays to your own advantage,
like Ivanka Trump is suggesting, on the contrary seems to be largely tolerated and
certainly doesn’t seem prosecutable during political campaigns for democratic
elections, and even after these same campaigns for political propaganda.
The main claims of Brexit supporters were fake, as was the accusation by Donald
Trump’s supporters of Hillary Clinton trafficking children, or the belief
that climate change is not real and just a machination of the Chinese government,
or that the raise in immigrants raises crime rates, or to define terrorism as a major
menace of our times. About terrorism, is sufficient to see that, between 2000 and
2015, terroristic attacks caused 90 deaths in UK (the most affected European
country), with an average of 6 people every year. In the same country though, 120
people die every year in bicycle accidents. During the previous 15 years, 1094 people
died because of terrorism in the United Kingdom, more than 10 times more, and even
2211 between 1970 and 1985. All these false statements and perceptions, that are
allowed in politics and during electoral campaign because they give the
advantage to a party, have become so much more than a simple advantage. In an age
that is seeing political ideologies disappear, false perceptions are more and more
indispensable to keep a political group united or to build an electoral win.
Freedom of opinion (or the freedom of hyperbole and exaggeration) is also the core
of marketing, where advertisements stating lies are often left unpunished.
Nevertheless, if for example a car manufacturer rigs the data about the emission
of damaging gases, it is punished with very heavy fines. If a characteristic of a food
product is false, consumers react boycotting it. Those who realize – thanks to
social network – that false statements are now “environmental”, omnipresent like
the air we breathe, shouldn’t be shocked by the fact that it is now a weapon used
in political fights as well. And the fact that public opinion doesn’t care about
politics anymore shouldn’t surprise us either, since politics are seen as a profession
of falsity and corruption. Moreover, how can you trust in solutions that are
proposed and voted to fix false problems?
Those who hope and aspire to politics as a noble art of public service, should first
of all worry about getting laws that won’t allow and will prosecute false in
electoral campaigns, at least as much as it is already forbidden in other public
services, like health and justice. And a tiny little point of coherence and
transparency should be recognized to Ivanka Trump, for revealing her ethical
criteria, showing false perception as important and tolerable if it plays to her
advantage. Thinking about it, if those who insist on making vaccinations a decision
of free opinion, or those who tolerate the definition of the gravity of terrorism
did the same, maybe everything would be easier to agree on. Imagine a political
leader or President of Region stating: “I know perfectly well that what I am
about to say is not true, but I am saying it because it plays to my advantage”.