Internal Influences: Knowledge
Knowledge is the sum of all information known by a person. It is the facts of the world as he/she knows it and the depth of knowledge is a function of the breadth of worldly experiences and the strength of an individual’s long-term memory. Obviously what exists as knowledge to an individual depends on how an individual’s perceptual filter makes sense of the information it is exposed to.
Marketers may conduct research that will gauge consumers’ level of knowledge regarding their product. As we will see below, it is likely that other factors influencing consumer behavior are in large part shaped by what is known about a product. Thus, developing methods (e.g., incentives) to encourage consumers to accept more information (or correct information) may affect other influencing factors.
Latest Marketing Stories
- Supreme Court Seems Inclined to Bolster Truth-in-Labeling Laws (questions what is misleading in product labeling) Los Angeles Times
- Small Businesses Search in Vain for Web-Ad Help (how sales tactics are draining funds) Wall Street Journal
- How Breakfast Became the Most Important Meal of the Day (the battle for breakfast money) Time
- The New Reality of R&D (how companies are acquiring products) Fast Company
- No Laptops, No Wi-Fi: How One Cafe Fired Up Sales (decision opens up space for more to buy) NPR
- Whole Foods Takes Over America (how leading retailer works) CNN Money
- Wal-Mart Plans to Bring Its Compete-on-Price Approach to Organic Food. Here’s How (insight on pricing strategy) Washington Post
Latest Blog Posts
- The U.S. Supreme Court Tackles a Key Product Labeling Issue
- When Doing Well in Search Engine Advertising is Too Good to Be True
- Some Companies Find Product Development is Better Left to Others
- If a Small Café Says Goodbye to Free WiFi Will It Say Hello to Increased Sales?
- When Social Media Fuels a Controversial Issue How Do Marketers Respond?