'Balance Theory Essay\r'

'Introduction\r\nGood Evening ladies and gentlemen my abduce is xxxxx and today I sh only enlighten you about a very interesting speculation concerning consumer doings and Marketing. As practicing food marketers, we are well aware of the impact that a celebrities endorsement can have on consumer behaviour but I am pretty confident(predicate) most of you wouldn’t know the reasoning john such a phenomenon. What is the quietus Theory?\r\n ever so oddmented why firms habituate celebrities to endorse their point of intersections? Well wonder no further because Fritz Heider proposed with his Balance theory that populate attempt to maintain a psychological poise and form relationships that repose out their likes and dislikes. For deterrent example if soul A likes a celebrity and the celebrity likes a product but Person A primitively disliked the product, thus Person A is apparent to end up increasing his enjoyment of the product or decreasing his liking of the celeb rity or both. All these options create equilibrium. As marketers, it is our goal to carry out market the product successfully to the nates audience. For example if we were to use Michael Jordan to market golfing products, whence the target consumer would most likely end up disliking the product. However, if we were to use tiger Woods to market the golfing products, then consumers of golfing products would most likely end up liking the products.\r\nThe Balance Theory Explained\r\nSo the Balance Theory is made up of a triangle that consists of 3 fractions. The relationship betwixt these 3 grammatical constituents is know as sentiment relations. So the first element is PO, the second element is PX and the third element is OX. If the firmness of purposes of the multiplication of the commanding or negative signs of every 2 elements yields a positive result, then the unanimity in the triad is kept up(p) and vice versa. This determine may seem complicated but it is in essence v ery basic. So allow me alter this for you with an example.\r\nPositive Example\r\nLet us repeat P is John a basketball fan, O is Michael Jordan a celebrity Basketball player and X is the product being marketed and in this case let’s assume it is a limited rendering basketball. So if John is a fan of Michael Jordan, then the sentimental relation PO will be positive. Since Michael Jordan is approves of the product he endorsed, the relationship OX is positive too. Therefore, by default, PX would be positive too.\r\n veto Example\r\nHowever, say if P were to remain John, O were to mystify Tiger Woods and X were to reverse a golf set, then PO would become negative since Tiger Woods is a golf player and hence John would not be qualified to relate to him, OX would remain positive since Tiger Woods loves the product he is endorsing and the eventual result of this would be a negative PX which would miserly consistency in the Triad is not maintained and that the celebrity endo rsement has not been successful in promoting this product to the consumer.\r\nImportance of this theory to us\r\nThis theory is of interest to us as future marketers as it helps us understand consumer behaviour and psychology with regards to mascots utilise to endorse/market a product. It also educates us on the 3 way relationship that transpires between product, celebrity and consumer and in turn, we would be able to market our products using the correct celebrities for the correct product.\r\nThe End\r\nAnd that ladies and gentlemen concludes my innovation on Fritz Heider’s Balance Theory. Thank you all for your kind attention.\r\nBibliography\r\n1. http://www.investorwords.com/15193/balance_theory.html\r\n2. http://changingminds.org/explanations/theories/balance_theory.htm 3. Roy, Subhadip, Gammoh, Bashar S., Koh Anthony C. (2012). Predicting the effectiveness of celebrity endorsements using the balance theory..Journal of Customer Behaviour. 11 (1), p33-52.\r\n'