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Consumer Psychology & Buying Behavior (Consumer Behaviour (Marketing…
Consumer Psychology & Buying Behavior
Consumer Psychology
3 dimensions
along which consumers value any product or service
Experience
Symbolism
Utility
10 Ways to convert more customers using Psychology
Highlight strengths by admitting shortcomings
Use urgency the smart way
Understand the 03 types of buyers
Tight Wads - 24%
Spendthrifts - 15%
Average Spenders - 61%
Make their brain light up 'instantly'
Embrace the power of labels
Make an enemy
Help customers break through "Action paralysis" by setting
minimums
Stand for something
Devil's advocate
Keep 'em on their toes
Ways in which psychology help consumer businesses innovate
By understanding the ordinary everyday lives & activities of
consumers
By understanding the ordinary everyday lives & activities of
consumers
By understanding the different ways in which consumers value product & services
By designing experiments to test product concepts & enable
consumers themselves to innovate
By understanding the fundamental human drives which underpin consumer behaviour
Consumer Behaviour
Marketing applications of consumer behaviour
Target market selection
Marketing segmentation
Product or service decisions
Pricing decisions
Distribution decisions
Distribution decisions
Positioning
Consumer Buying Decision Behaviour
Possible influences on the process
Psychological influence
Social influence
Situational influence
Types of buying decision behavior
Variety-seeking behavio
Dissonance-reducing buying behavior
Social influence
Habitual buying behavior
5 stage model
Purchase decision
Post-purchase behavio
Evaluation of alternatives
Information search
Need recognition/problem recognition
The Customer Experience
Emotional Ties
Intended Behaviour
Rational Ties
Current Behaviour
Factors influencing consumer buying behavior
Social
Personal
Cultural
Psychological
The Buying Roles
Decider
Buyer
Influencer
User
Initiator