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Emerson says that social exchange theory is an approach in sociology that is described for simplicity as an economic analysis of noneconomic social situations. [7] Exchange theory brings a quasi-economic form of analysis into those situations. [7]
The power and ubiquity of the norm of reciprocity can be used against the unwary, however, and is the basis for the success of many malicious confidence games, advertising and marketing campaigns, and varieties of propaganda in which a small gift of some kind is proffered with the expectation of producing in the recipient an eagerness to ...
The social study of marketing is an interdisciplinary area of social science. It combines perspectives from anthropology, economic sociology, science and technology studies, and cultural studies to study consumption. Work in the area emphasizes the social and cultural dimensions of marketing practices but focuses also on technical and ...
The exchange is less social, and is dominated by the material exchange and individual interests. [2]: 194–5 Negative reciprocity is the attempt to get "something for nothing with impunity." It may be described as 'haggling,' 'barter,' or 'theft.' It is the most impersonal form of exchange, with interested parties seeking to maximize their gains.
Disciplines such as sociology, economic history, economic geography and marketing developed novel understandings of markets [14] studying actual existing markets made up of persons interacting in diverse ways in contrast to an abstract and all-encompassing concepts of "the market". The term "the market" is generally used in two ways:
Gift exchange is distinguished from other forms of exchange by a number of principles, such as the form of property rights governing the articles exchanged; whether gifting forms a distinct "sphere of exchange" that can be characterized as an "economic system"; and the character of the social relationship that the gift exchange establishes.
Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns.
Social currency refers to the actual and potential resources from presence in social networks and communities, including both digital and offline. It is, in essence, an action made by a company or stance of being, to which consumers feel a sense of value when associating with a brand, while the humanization of the brand generates loyalty and "word of mouth" virality for the organization.