Consumer Psychology and buying behaviour
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Consumer behaviour
Consumer psychology
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Definitions
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Terms
Consumer
Consumer psychology
Psychology
Science of behaviour and mental processes
Person who consumes - Purchaser of goods and services.
Study of how people relate to the products & services they purchase/use.
How it helps consumer business...?
Ordinary everyday lives and activities.
How they think feel & act.
Ways how customers value products & services.
designing experiments to test product concepts and enable
consumers themselves to innovate.
Fundamental drives which underpin consumer bahaviour
Dimensions of consumers valuing products
Experience : Feeling
Symbolism : what it says
Utility : uses
Key psychological processes
Ways of converting customers
Highlight strengths by admitting shortcomings.
Use urgency the smart way
Make their brain light up instantly
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Make an enemy
Embrace the power of labels.
Stand for something
Devil's advocate
Keep them on their toes.
Help customers breakthrough "Action Paralysis by Setting minimums"
Understand 3 buyer types.
Average buyers
Tightwads
Spendthrifts
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Why learn it?
Product/service decisions
Pricing decisions
Positioning
Distribution decisions
Target market selection
Promotion decisions
Market segmentation
Consumer personality
Consumer bahaviour
Customer experience
Rational ties
Intended behaviour
Current behaviour
Emotional ties
Buying roles
Who influence :Influencer
Who decides to buy :Decider
Who 1st gives the idea of buying :Initiator
Who makes actual purchase :Buyer
User of the product :User
Five stage model
Information search
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Purchase decision
Problem definition
Post purchase behavior
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INTERNAL INFORMATION : already present in consumer's memory
EXTERNAL INFORMATION : received from outside
Evaluation of alternatives
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Situational
Time
Purchase decision
Social surroundings
Buyer's mood & condition
Psychologiclal
Psychological surroundings
Learning
Attitudes
Motives
Personality & self-concept
Perception
Lifestyles
Social
Reference groups
Opinion leaders
Family
Social classes
Roles
Culture & sub cultures
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Factors influence
Psychological
Personal
Social
Cultural
Types of buying decision behavior