REFERENCE GROUP ” An actual or imaginary individual or group conceived of having relevance upon individual’s evaluations, aspirations or behaviour.”

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Presentation transcript:

REFERENCE GROUP ” An actual or imaginary individual or group conceived of having relevance upon individual’s evaluations, aspirations or behaviour.”

FORMAL AND INFORMAL GROUPS Formal group has highly defined structured Informal group is a usually small social group whose members share close personal relationship

FORMS OF REFERENCE GROUP INFLUENCE Informational influence Utilitarian influence Value-expressive influence

SIX BASES OF POWER Referent power Expert power Information power Reward power Coersive power Social power Legitimate power

Studies made in Griffith University shows that: - Midwifes endorsement increased consumers purchase intention - Consumers willing to pay more HEALTHCARE PRODUCTS FOR BABYS

POWER BALANCE WRISTBAND

STORY BEHIND IT Producer was a US company established in 2007 Price 25-40euros Over 100 million euros sale in 2010 Bankrupt in 2011 promoted through paid celebrity endorsements

WHAT THEY TOLD US? Holograms which are embedded with frequencies react with your body’s electro-magnetic field and the result is: Your balance gets better You become stronger It will make you more flexible

AND WE BELIEVED BECAUSE....

KOBY BRYANT

CRISTIANO RONALDO

DAVID BECKHAM

P. DIDDY

GERARD BUTLER

KATE MIDDLETON

BILL CLINTON

OPINION LEADER ”Person whose opinions and advices affect other peoples attitudes and behaviour” Typical features: - expertise - knowledge - social activity and networks - status - education - person is admired - person is opinion seeker - person is forerunner

WHY COMPANIES USE OPINION LEADERS FOR MARKETING? Companies use opinnion leaders to sell their product because it is efficient way to effect customers in many different stages of BEFORE consumer makes decition to buy the product. Stages affected by opinion leaders: - Recognation of product - Generating interest about product - Evaluation of alternatives - Decision making

SOURCES Griffin university, The impact of endorsement on product stated choice preferences: A best & worts study e%2FAMLayout&cid= &p= &packedargs=packedargs%3DA MArticleCommentThreadDetails%25253AmaxPosts%253D40&pagename=SKAWrapper e%2FAMLayout&cid= &p= &packedargs=packedargs%3DA MArticleCommentThreadDetails%25253AmaxPosts%253D40&pagename=SKAWrapper