3- Marketing

Question 1

what are the advantages and disadvantages of a simple identity

Answer 1

advantages - facilitates valuation and attracts employer attention
disadvantages - restricts future identities

Question 2

what are the advantages and disadvantages of a complex identity

Answer 2

advantages- greater flexibility and broad set of skills

disadvantages- risk of confusion for audience, and lack of skill

Question 3

role theory

Answer 3

role distance describes the extent to which an actors identity is confined to a role

Question 4

labeling theory

Answer 4

identity tag restricts an actor’s ability to move in a way that’s inconsistent with the attribution.

Question 5

neo instutional theory

Answer 5

going against established norms can confuse people and lead to rejection for creative professionals with multifaceted identities.

Question 6

niche width theory

Answer 6

suggests that a generalist identity is advantageous in a volatile environment, yet disadvantageous in stable markets.

Question 7

resource partition theory

Answer 7

in specific environments, generalists and specialists can coexist by sharing resources and niches without intense competition.

Question 8

typecasting

Answer 8

the practice of categorizing individuals in the labor market based on factors like skill, ability, and past work experience.

Question 9

what are the implications of typecasting

Answer 9

1) limitations on identity: typecasting can limit individuals by defining them solely on their perceived abilities and past work
2) make the client always attract similar kinds of work

Question 10

social identity theory

Answer 10

individuals are inclined to participate in activities and back institutions that reflect their core identities. This means people are naturally drawn to things that resonate with who they are, what they believe in, and the groups they identify with.

Question 11

social identification

Answer 11

when you feel like you belong to a group, and as a result, you think of yourself as a member of that group.

Question 12

organizational identification

Answer 12

when a person identifies with an organization, they feel connected to it and define themselves in terms of that organization.

Question 13

What leads an individual to have MORE identification with an organization? (4)

Answer 13

1) perceived organizational prestige
2) expected services
3) contact frequency
4) membership length

Question 14

what leads individuals to have LESS identification with an organization?

Answer 14

membership to similar organizations

Question 15

what leads individuals to NOT MUCH CHANGE in their identification with an organization?

Answer 15

1) donation
2) membership visibility

Question 16

how to create organizational identification? (5)

Answer 16

1) Dedication to the customer
2) Customer support groups
3) Opportunities for public displays of association
4) Active alignment of and support of social causes
5) Distinctive HR policies

Question 17

strategic market orientation

Answer 17

concept that measures a company’s focus on understanding and managing its competitive environment.

Question 18

what are the three dimensions of strategic market orientation?

Answer 18

1) customer
2) competitor
3) product

Question 19

Characteristics of a non-profit professional theater:

Answer 19

High rate of innovation
Low level of competition
Uncertain demand
Stable customer base

Question 20

how does customer orientation affect performance

Answer 20

customer orientation has a negative association with performance. this is because customers seek novelty and innovation.

Question 21

how does competitor orientation affect audience size?

Answer 21

there are ambigious results for the effect of competitor orientation and performance

Question 22

how does product orientation affect firm performance?

Answer 22

there’s no positive association.
-> concentrating solely on product features might not resonate with the theater’s audience. The theater experience is multidimensional, involving not just the content but also the ambiance, customer service, and overall emotional connection.
-> Marketing departments in artistic organizations
Focusing on promotion, pricing, packaging, and customer service- emphasizing developing solid social relations with loyal customers

Question 23

what is a supply problem faced by the art market?

Answer 23

The primary art market faces a surplus of artists, leading to heightened competition. This surplus saturates the market, making it challenging for individual artists to stand out.

Question 24

what’s a problem with demand in art markets?

Answer 24

Demand for artworks in the primary market is highly volatile and influenced by numerous factors like economic conditions, cultural trends, and buyer preferences. This uncertainty creates a challenging environment for artists and sellers.

Question 25

what’s a problem with quality standards in art markets?

Answer 25

Unlike standardized products, art lacks universally agreed-upon quality metrics. Evaluation methods vary, often relying on subjective judgments and intersubjective consensus, making it intricate to assess the true value of artworks objectively.

Question 26

Dynamics of Art Markets (6)

Answer 26

1) Oversupply of Producers
2) Uncertain Demand
3) Lack of Objective Quality Standard
4) Selection Based on third party signals
5) Intersubjective Evaluations
6) Extreme Inequality in Success

Question 27

what do third party signals encompass?

Answer 27

art reviews, awards, and gallery affiliations
-> they act as indicators of an artist’s credibility and talent

Question 28

How do signals from outside sources, like positive reviews, awards, and gallery affiliations, affect an artist’s chance of selling their art to expert buyers?

Answer 28

When artists receive positive signals from credible sources, like respected critics or renowned galleries, it significantly boosts their chances of making sales. These signals act like endorsements, making buyers more interested in the artist’s work.

Question 29

Do signals from well-known sources influence buyers more than signals from lesser-known ones? Does the credibility of the signal matter?

Answer 29

Yes, signals from famous critics or prestigious galleries have a stronger influence on buyers. If a respected art critic praises an artist, it carries more weight than a lesser-known person’s praise. The credibility of the source greatly affects how buyers perceive the artist’s work.

Question 30

Do these signals continue to influence buyers over a long time, or do they lose their impact as time passes?

Answer 30

The influence of these signals fades away slowly. If an artist gets a positive review from a famous critic, it continues to help their career, although its impact lessens gradually over time. Fresh and recent signals matter more, but past positive signals still have some lasting effect.