Question

1. System 1 decision making is fast, unconscious, automatic and is used in most everyday decisions. System 2 is slow, conscious, effortful and is used in more complex decisions. An example of system 1 decision making is typically portrayed when purchasing convenience items like milk, bread, and eggs. An example of system 2 decision making is when a consumer wants to buy a car and begins looking at all the different specifications. In my opinion, I believe that I use system 1 of the decision making process. I don't have a lot of time and money to consider buying a new car or bigger purchase like that, but I do purchase simple commodities almost everyday. These purchases take almost zero brain power because I purchase these products often.

2. I believe influencer marketing is very important and valuable to companies because "word of mouth" marketing is still the highest and most reliable form of marketing. I know that influencer marketing and word of mouth marketing are not entirely the same, but if a consumer has been following this "influencer" on social media for awhile and builds up respect and trust with them, then the product that the influencer is selling or advertising makes it a more realistic purchase for the consumer. This process could possibly be word of mouth marketing as well, just in a different form. From the company's standpoint, it is important to use the right influencer for the company's target market. A terrible influencer choice for a vegan restaurant would be Steven Rinella. He is on the show Meat Eater, and doesn't resemble any similarities with the target market of the vegan restaurant. This is why it's crucial to get the right influencer to match with the company's target audience. The wrong influencer can drive away potential consumers.

Answer 1

According to my understanding, there are two kind of decision making, one is system one and another is system 2, for purchasing our daily items like Milk, Bread, Eggs, we need to apply very least brain, and decision making for such buying process could be very fast and automatic, need not to keep our consciousness for such buying, as I will not go with any bigger purchase like car purchasing, so normally I need to go with system 1 decision making, but according to my view, our decision making could be much faster, however we should not take any daily items, commodities without knowing much about them, or we should check product descriptions, endorsement, Rating/Feedback on each product before buying them, again, If I need to purchase Car or any big items, the decision making process would be much complex and we need to put more effort, brain for such decision making, thus the decision making process is quite slow, thus the above writing is good resource for getting idea on System 1 and 2 decision making process, Influencer marking and Word of mouth marketing, both are important part of Marketing, in case Influencer is selling or advertising the products, then it brings more realistic purchase for consumer, here, Influencer is using word of mouth marketing, thus, we must choose right influencer, who must be strong match with company’s target audience and his or her character encourage consumer to buy the products, sold or advertised by influencer, again, we trust and respect influencer because we know that the influencer will fulfill our needs with providing a product with better outcome, thus the above writing is good resource to know about the General information about the Influencer and how influencer should act, how Influencer can impact business through word of mouth marketing,