Systems Thinking and Cognitive Process in Marketing

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Copyright: 2012
Pages: 28
Source title: Systems Thinking and Process Dynamics for Marketing Systems: Technologies and Applications for Decision Management
Source Author(s)/Editor(s): Dr. Rajagopal (Monterrey Institute of Technology and Higher Education ITESM, Mexico)
DOI: 10.4018/978-1-4666-0969-3.ch007

Keywords: Business & Management / Business Information Systems / Business Science Reference / Decision Support Systems

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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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