BSU bulletin. Economy and Management
Bibliographic description:
CAN ECONOMICS OF OLFACTORY BRANDING BE REPLICATED THROUGH HISTORICAL SENSATION: CASES FROM COLLEGE STREET BOOKSELLERS? // BSU bulletin. Economy and Management. - 2021. №3. . - С. 66-73.
Title:
CAN ECONOMICS OF OLFACTORY BRANDING BE REPLICATED THROUGH HISTORICAL SENSATION: CASES FROM COLLEGE STREET BOOKSELLERS?
Financing:
Special gratitude is extended to the all the segmentation in publishing fields as well as the street booksellers of the historical street-College street of Kolkata, In- dia without whose responses and evaluation of present evolution of book lovers, addiction towards books and how second hand books are bset sellers nationally as well as under- standing income level and revenue generation through marketing of books on streets.
Codes:
Annotation:
Many have travelled through the hallowed lanes of books and booksellers in prominent as well as obscured by lanes of Indian cities like Kolkata, but few have noticed the senses which get tingled into the buying behaviors and change our economic senses of decision making. There are even strategic choices associated with buying books and the per- centage of people choices as part of economic rationale decision making on returning cus- tomers as few global marketers prefer to distinguish while strategizing choices and perspec- tive in luxury brand management. The learning curve associated with books and the world of booksellers may be trivial but they bring about impactful strategy to the larger picture of luxury brand management which can be learnt from as simple as from a street book seller unnoticing jumping into the bandwagon of olfactory branding. This paper is a sustained ef- fort to bridge the long standing research gap in olfactory branding which is borne from mul- tiple cases and empirical studies from the poorer streets of Indian booksellers which on one hand is historically symbolic and on another hand portrays strategy even to big corporate firms globally on how and when can senses of smell bring about in revenue generation and creating resilient brands.
Keywords:
olfactory branding, strategy, behavioral economics, global marketing, marketing research, neuromarketing.
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Meng, H., Jewell, R. D., Kent State University., & Kent State University,. (2016). The effects of scent on consumer behavior.
Zidansek, M., Spangenberg, E. R., Washington State University,, & Washington State University. (2013). What scent can do for a brand: Exploration of brand-scent boundary condi- tions.
Batista, Sarah. (2016). Emotional Branding: emotions and feelings aroused by the de- sign of the olfactory experience of consumption according to the ecosystem approach to com- munication. Editorial Universitat Politècnica de València.
Vega-Gómez, F.I.; Miranda-Gonzalez, F.J.; Pérez Mayo, J.; González-López, Ó.R.; Pascual-Nebreda, L. The Scent of Art. Perception, Evaluation, and Behaviour in a Museum in Response to Olfactory Marketing. Sustainability 2020, 12, 1384. https://doi.org/10.3390/su12041384
https://hbr.org/2018/04/inside-the-invisible-but-influential-world-of-scent-branding (Accessed on 3.03.2021)
Bourdieu, Pierre. 1984. Distinction: A Social Critique of the Judgement of Taste. Cambridge, MA: Harvard University Press.
Kotler, P., & Armstrong, G. (2011). Principles of Marketing. (14th ed.) Prentice Hall.
Kotler, Philip, 1994. "Reconceptualizing marketing: An interview with Philip Kotler," European Management Journal, Elsevier, vol. 12(4), pages 353-361, December.
Samrat Ray. How COVID-19 changed dimensions of human suffering and poverty al- leviation: economic analysis of humanitarian logistics. Vestnik of Astrakhan State Technical University. Series: Economics. 2020;4:98-104. (In Russ.) DOI: 10.24143/2073-5537-2020-4- 98-104.
Ward, P., Davies, B.J. and Kooijman, D. (2003), “Ambient smell and the retail envi- ronment: relating olfaction research to consumer behavior”, Journal of Business and Manage- ment, Vol. 9 No. 3, pp. 288–301.
Turley, L.W. and Chebat, J-C. (2001), “Linking retail strategy, atmospheric design and shopping behavior”, Journal of Marketing Management, Vol. 18, pp. 124–143.
Bloch PH, Ridgway NM, Dawson A (1994) the shopping mall as a consumer habitat. J Retail Volume 70, No. 1, pp. 22–40.
O’Connell, Barbara, Steven Walden, and Andrew Pohlmann. "Marketing and neuro- science what drives customer decisions." American Marketing Association. (2011).
Das et al., 2019 G. Das, H.J. Wiener, I. Kareklas To emoji or not to emoji? Examining the influence of emoji on consumer reactions to advertising J. Bus. Res., 96 (2019), pp. 147– 156, 10.1016/j.jbusres.2018.11.007
Cuesta et al., 2020 F. Cuesta, G. Paida, I. Buele Influence of olfactory and visual sen- sory stimuli in the perfume-purchase decision Int. Rev. Manage. Market., 10 (1) (2020), pp. 63– 71.
Choong et al., 2019 K. Choong, J. Drennan, C.S. Weeks, I. Weber Reaching subculture markets: the cryptic marketing approach J. Market. Commun. (2019), pp. 1– 15, 10.1080/13527266.2019.1640269
Baker, D. A., Ware, Jilian M., Schweitzer, N. J., Risk, Evan F.. 2017. “Making Sense of Research on the Neuroimage Bias.” Public Understanding of Science 26 (2): 254–57.
Beaulieu, Anne . 2002. “Images Are Not the (Only) Truth: Brain Mapping, Visual Knowledge and Iconoclasm.” Science, Technology, and Human Values 27 (1): 54–85.
Kahneman, Daniel, 1934– author. Thinking, Fast and Slow. New York :Farrar, Straus and Giroux, 2011.
Revealed Preferences over Risk and Uncertainty. (2020). Quah, John ; Polisson, Mat- thew; Renou, Ludovic. In: American Economic Review. RePEc: aea:aecrev:v:110:y:2020:i:6:p:1782–1820.
Going beyond cognitive approach to behavioral stream in economic sciences: Behav- ioristic and evolutionary perspectives. (2020). Sukowski, Ukasz ; Korzeniowska, Dominika. In: Journal of Entrepreneurship, Management and Innova- tion. RePEc:aae:journl:v:16:y:2020:i:2:p:13-36.
Nudge: Improving Decisions About Health, Wealth, and Happiness. New York: Pen- guin Books. Thaler, Richard H., 1945– and Cass R. Sunstein, Nudge: Improving Decisions About Health, Wealth, and Happiness.
A decade of nudging: What have we learned? (2020). Damgaard, Mette T. In: Eco- nomics Working Papers. RePEc:aah:aarhec:2020-07.
Equity Factors: To Short Or Not To Short, That Is The Question. (2020). Ciliberti, Stefano ; Bouchaud, Jean-Philippe ; Benaych-Georges, Florent . In: Papers. RePEc:arx:papers: 2003.10419.
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