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Systems Thinking and Cognitive Process in Marketing

Systems Thinking and Cognitive Process in Marketing

Copyright: © 2012 |Pages: 28
ISBN13: 9781466609693|ISBN10: 1466609699|EISBN13: 9781466609709
DOI: 10.4018/978-1-4666-0969-3.ch007
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MLA

Dr. Rajagopal. "Systems Thinking and Cognitive Process in Marketing." Systems Thinking and Process Dynamics for Marketing Systems: Technologies and Applications for Decision Management, IGI Global, 2012, pp.170-197. https://doi.org/10.4018/978-1-4666-0969-3.ch007

APA

D. Rajagopal (2012). Systems Thinking and Cognitive Process in Marketing. IGI Global. https://doi.org/10.4018/978-1-4666-0969-3.ch007

Chicago

Dr. Rajagopal. "Systems Thinking and Cognitive Process in Marketing." In Systems Thinking and Process Dynamics for Marketing Systems: Technologies and Applications for Decision Management. Hershey, PA: IGI Global, 2012. https://doi.org/10.4018/978-1-4666-0969-3.ch007

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Abstract

Cognitive process in marketing builds behavior of consumers and other players involved in carrying out various marketing functions. The cognitive maps in a firm help developing customer portfolios for evaluating and optimizing profit. This chapter discusses that in developing marketing strategies in a competitive business arena, such cognitive frameworks are often driven by the infinite choices ranging from what products or services to sell, how to determine market segment, and how to target consumers towards managing the competitive markets. It has been observed that as income is one of the critical variables, the cost factor also plays significant role in determining the market size and its scale of economy. The discussion in the chapter accentuates that cognitive analysis and behavior integration in business firms drive the marketing efficiency and profit as sustainable value drivers.

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