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Critical Thinking for Marketers, Volume II

Book Description

This second volume of Critical Thinking for Marketers expands your background knowledge of other areas of critical thinking that are making major contributions to both marketing as a social science and marketing as an applied science. Section I, Think Better, provides introductory discussions of - marketing as a science; the difference between correlation and causation; the meaning of what a “concept” is and why it is critical for marketers to develop good concept definitions (e.g., “What is customer satisfaction?”); why the 18th century Scottish philosopher David Hume is relevant to marketers today; and the impact that behavioral economics is having on how marketers do their job. Section II, Cognitive Biases and Their Importance, talks about recent discoveries in cognitive psychology and neuroscience that have relevance to marketers. You’ll learn that marketers need to be aware of their own cognitive biases and irrational thinking processes, which often lead to making bad decisions, and that the retail and business customers we market to are not as rational as we may think and hope they are. Finally, Section III, Conclusions, draws on both Volumes I and II to summarize the book’s primary messages with helpful hints on applying your new tools and making better marketing decisions.