Influence of Money on Human Behavior: A Critical Evaluation


Added on  2019-09-26

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Running Head: ADVANCE CONSUMER BEHAVIOUR 1Advance Consumer Behaviour
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ADVANCE CONSUMER BEHAVIOUR2Assignment 3It is the last assignment and for this a book named “Predictably Irrational”, writtenTop-researcherDan Ariely and by MIT professor will be used. It is the book that thoroughly highlights the fact that people are not only irrational in nature but they are also quite manipulative. The Task:In this essay we are analysing the advert given "Advert: Waitrose Christmas advert 2016 #home for Christmas - https://www.youtube.com/watch?v=xtKYdG9r0Pk based on the book.In this particular essay we are working and analyzing the advert given "Advert: Waitrose Christmas advert. In this video it has been observed that the concept of social norms were highlighted in a wonderful manner as the spirit of being with family during the time of Christmaswas highlighted. They were transferring the warm feeling of the family home/family to the brandby trying to showcase that they are part of the friend or their family. It can be said that social norms mainly are informal in nature and the social psychology also examines smaller group unitssuch as office or even a team may separately endorse those norms or even in an additional manner in terms of societal or cultural expectations. Throwing light on the above-mentioned discussion an example can be given that is if any near and dear ones expect help from us we just help them and do not expect anything in return as market or business norms where there is always a give and take policy. Moreover, it will also be a breach of social norms if dear ones are treated as per the rules and regulations of the market norms.
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ADVANCE CONSUMER BEHAVIOUR3In terms of relativity it has been observed that advert tried to trigger the feelings of the consumers with regards to the festive season in a different and unique manner and most of the people wants to return or stay with the family during the time of their festival.In this particular segment how the irrationality of the consumer is assumed by the advertiser will be highlighted and discussed. The two of the sub-topics that has been taken into account for the consumer irrationality are as follows: Self control and expectation. As per one of the famous companies named McKinsey has informed the ways by which consumers make decisions (Vohs, Mead and Goode, 2008). Throwing light on the above-mentioned discussion it can be said that irrationality can be described in a lot of ways but being irrational simply means that an individual tends to behave in an illogical manner where they are supposed to behave in a logical manner and make sound decisions. Most of the consumer does not like the idea of making any decisions. In this particularscenario there are a lot of marketers who try to understand their consumer and for this they design certain experiences for making it easier for them in terms of what they should actually do.On the contrary, there are some marketers who take negative advantage from this situation and they try to convince the consumers with false representations (Dhar, Nowlis and Sherman, 2000).Firstly, self-control with regards to the irrational consumer will be discussed. It has been assumed that a consumer may feel a lot fuller when they consume each and every unit of the food and the self-control won’t be exerted and a consumer also tends to eat a large amount more than that is expected for their life expectancy and immediate health. It has been also argued that arational individual has self-control and they are mainly influenced by the external factors and certain emotions and therefore they very well know what is best for them. As per the behavioral
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