Case Study – Bill and Melinda Gates 1. What do you think Bill and Melinda Gate’s personality traits are for each of the Big Five dimensions? Compare the two. The purpose of big five is to categorize the personality traits into different dimensions which can help us to understand better how people behave to others and how react in their life. The Big Five Model of Personality categorizes traits in different dimensions such as Surgency, adjustment, conscientiousness, and openness to experience (Lussier, 2013).
Ever since Aaker (1997) and Fournier (1998) brought brand personality and customer brand relationship into perspective, this has been the focus of researchers. Malhotra (2005) found that though consumer decision-making research was generally cognitive (the use of brand attributes or tangibles).However, in the Recent past the researchers have accepted that the affective and emotional Aspects (Burk and Edell, 1989; Holbrook and Westwood, 1989) are also important. Ailawadi and Keller (2004) found that brand management is emerging as focus area for CXOs. Focus, hence, has shifted towards the symbolic meaning consumers attribute to brands (Austin et al., 2003) with some customers perceiving branded products as if these objects had human characteristics. Marketing scholars and practitioners have been studying it to improve Customer Loyalty.
The study is based on McCrae and Costa’s five factor personality theory. According to McCrae and John (1992, as cited in John & Srivastava, 1999), personality is divided into classifications: (1) McCrae and Costa (2008) with Mondak (2010) (as cited in Badgaiyan & Verma, 2014) defined Openness as a characteristic with a broad set of interests determining a flexible viewpoint, this depicts the proliferation of original and imaginative ideas; (2) Conscientiousness refers to the characteristics of individuals who embody punctuality, orderliness, and self-discipline (McCrae & Costa, 1997, as cited in Hirsh & Dolderman, 2007); (3) Extraversion was described by McCrae and John (1989, as cited in McCrae & Costa, 1992) as a personality trait of people
Since that time, market segmentation is considered as an important theory in marketing field and also in practices. There are some literatures focused on classifying segmentation variables into different types (Table 1). Wedel and Kamakura proposed ‘observable’ and ‘unobservable’ category, first category can be measured objectively measured and another one need for inference from available data (Deal, 1999). Kotler and Keller (2009) put forward traditional criteria of market segmentation is based on geographic, demographic, economic, sociological or psychographic, while behavioral type of segmentation is also applied and it refers to attitudes on benefits offered by certain products, conditions of procurement and
The study on personality started with Hippocrates ‘four humors and give rise to four temperaments. Storm Paula (2006).Sigmund Freud and Erik Erikson theories of personality paved the way for researchers to study the personality of personality of individual in organizational, individuals, group and social settings. Many research endeavors can be found on personality by using trait theory approach. One of such illustrious trait theory is five factor theory (Digman,1990; Goldberg, 1993) which is very practical to determine different work related behaviors and
Personality Ashley N Gold Wenatchee Valley College Table of Contents Abstract 3 Personality 4 Openness (to experience) 4 Conscientiousness 5 Extraversion 5 Agreeableness 5 Neuroticism. 6 References 7 Abstract In this paper, I will be describing my own personality using self-concept of The Big Five Theory. Personality refers to different relatively steady characteristics in people that may determine overall behavior. The Big Five Theory identifies five basic personality traits that includes the following: openness (to experience), conscientiousness, extraversion, agreeableness and neuroticism. For each trait, I will state/score where I think I fit on the continuum, either stronger (high) or weaker (low) using a scale from one to
Hawkins, Best and , Coney (in the year 1998) stated that consumer need is influenced by some external factors, such as social status, culture, , reference groups, subculture, family and other demographics variables. Also some internal factors such as personality, motives, perception, , memory, emotion, learning and attitudes etc. All this internal and external influencing factors affect that 5 stage decision making process, like in the EKB model. But apart from those internal and external factors previous experience of the customer, memory also play crucial
Fitzsimon, Vicki G. morwitz has done detailed research on the topic “The effect of measuring intent on brand level purchase behaviour”, and he has talked about the brand level purchase effect on consumer, where he talked about the previous users of brand, new user of the category of the car which gave him practical implication for using intent data and finally he concluded that current owners of car are likely to repurchase the brands they currently own when they are asked intent questions. In addition, he demonstrated that the purchase behaviour of current car owner is more consistent with their rand attitude when they’re asked intent questions. First time car buyers, on the other hand are more likely to purchase brands that have more market share when asked intent
Since, the years to go individuals, situations, activities and their important role are identified and developed in identifying an individual’s personality. Several researchers have done studies on dispositions in analysing individual personality traits, these lead to look forward in certain kinds of attitudes and job related behaviour. Michele (1977) has described about individual behaviour and situations have been studies on dispositions. Studies on dispositions helped for the emergence of Big Five Personality traits models which was developed by Goldberg (1990). Big Five Personality traits model has divided the Personality into five broad traits, these are more useful in identifying different kinds of job related attitudes and behaviours.
Though a consumer’s buying behavior changes from person to person, the field of marketing has an interest in describing the general tendencies of consumer buying habits. In this short paper I will list and define the major types of buying decision behavior and the stages in the buyer decision process as described in Kotler and Armstrong’s Principles of Marketing . The types of buying behavior are distinguished by the activity and perception of consumers. There are four major types of buying behavior: complex buying behavior, variety seeking buying behavior, dissonance-reducing buying behavior, and habitual buying behavior. (Kotler & Armstong, 2012) When a consumer is engaging in complex buying behavior, he or she is “highly involved in the