THE SIGNIFICANCE OF COGNITIVE BIASES IN MARKETING OF ABM STUDENTS IN BESTLINK COLLEGE OF THE PHILIPPINES S.Y 2023-2024

Abstract

This study explores the profound impact of cognitive biases on consumer behavior in marketing. Biases like anchoring and confirmation bias subtly shape decision-making, often leading to irrational choices. Marketers can strategically leverage these biases to craft compelling campaigns that resonate subconsciously, enhancing communication and influencing purchasing decisions. This research examines ethical approaches to integrating cognitive biases into marketing strategies to drive sales while maintaining consumer trust. Additionally, it underscores the importance of ABM students mastering these concepts to apply them effectively and ethically in real-world scenarios. Ultimately, the study aims to demonstrate how, when used strategically, cognitive biases can shape consumer behavior and foster long-term brand loyalty. We conducted a quantitative study using the descriptive survey method among a sample of 40 ABM students from three sections, selected through random sampling. The respondents included 22 Grade 12 Section B students, 10 Grade 12 Section A students, and 8 Grade 11 Section A students. They answered an e-questionnaire consisting of ten questions divided into two categories: Likert scale and frequency-scaled questions. Many respondents acknowledged their awareness of the systematic cognitive strategies that sellers and marketers use to boost sales. The findings indicate that irrational purchasing decisions often result from cognitive distortions and perceptual biases, particularly when questions are framed in a self-satisfying manner. Responses to the Likert scale questions (items 1–5) showed overall agreement, with a mean score of 30.84. Meanwhile, the frequency-scaled questions (items 6–10) were predominantly answered as "sometimes," yielding an overall mean of 25.32. The results indicate that cognitive biases play a crucial role in shaping consumer purchasing patterns. Utilizing these biases significantly impacts marketing strategies and can serve as a powerful tool to guide consumers toward marketers. However, consumers must also remain aware and mindful of the cognitive biases influencing their buying decisions in the marketplace.