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Consumer Psychology & Buying Behavior 15020071 (Convert More Customer,…
Consumer Psychology & Buying Behavior 15020071
The study of how people relate to the products and services that they purchase or use
How it helps
Understanding the ordinary everyday lives and activities of consumer
Understanding how different types of consumers think, feel & act
Understanding the different ways in which consumers value products & services
Experience
Symbolism
Utility
Designing experiments to test product concepts & enable consumers themselves to innovate
Understanding fundamental human drives which underpin consumer behavior
Convert More Customer
Use urgency the smart way
Make their brain light up instantly
Highlight strengths by admitting shortcomings
Make an enemy
Understand 3 types of buyers
Spendthrifts
Tightwads
Average Spenders
Stand for something
Embrace the power of labels
Devil's Advocate
Help customers break through "Action Paralysis" by setting minimums
Keep Them on their toes
Consumer Behavior
The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society
Buying Roles
Decider
Buyer
Influencer
User
Initiator
Consumer Buying Decision Process
Evaluation of alternatives
:arrow_down: Consideration Set
:arrow_down:Awareness Set
:arrow_down: Total Set
:arrow_down: Choice Set
:arrow_down: Decision
Purchase Decisions
Information Search
External Info
Internal Info
Post-Purchase Behavior
Need Recognition / Problem recognition
Maslow's Hierarchy of Needs
Factors influencing consumer buying behavior
Social
Personal
Cultural
Pschological