Sustainbility
Marketing
Behavioural Economics
100
What is the term for a business model that eliminates waste and maximizes resource use?
Circular Economy
100
What is the full form of SEO?
Search Engine Optimization
100
What Cognitive bias does this play on?
Loss Aversion
200
Name one company that has successfully implemented a circular economy model.
IKEA/Adidas
200
What is the psychological pricing strategy where products are priced just below a whole number?
Charm Pricing
200
What is a Heuristic?
a process of method of mental shortcuts that people use to make quick decisions, solve problems, and form judgments
300
What is Adidas' sustainable product strategy
Based on four pillars: people, planet, product, and partnership
Ex. Using more sustainable materials, Reducing environmental impact, spreading awareness
300
What is the term for personalized marketing that targets individual consumers based on their data and preferences?
One-to-one marketing
300
What is an anchor?
An initial reference point that they use to base their further jugdements on
400
Which company advocates for issues such as LGBTQ+ rights, etc?
Ben & Jerrys
400
What kind of marketing is this?
Influencer Marketing
400
What is IKEA's main cognitive bias marketing strategy
Endowment Effect
500
What is the market-based system that allows companies to stay under a fixed emission limit, but permits them to trade allowances for any excess emissions they produce
Cap and Trade
500
What kind of marketing is this?
Cold Marketing
500
Give 3 examples of the framing effect
Any 3 relevant examples