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CONSUMER PSYCHOLOGY & BUYING BEHAVIOR (Consumer Behaviour (Marketing…
CONSUMER PSYCHOLOGY & BUYING BEHAVIOR
Consumer Psychology
Definition
– How consumers think, feel, reason, and select between
different alternatives
– How the consumer is influenced by his or her environment
– The behavior of consumers while shopping or making other
marketing decisions
How Psychology Helps Consumer Businesses Innovate
Understanding the fundamental human drives which
underpin consumer behaviour
Understanding the ordinary everyday lives and activities of
consumers.
4.Understanding how different types of consumers (e.g. men
versus women) think, feel and act.
Designing experiments to test product concepts and enable
consumers themselves to innovate.
Understanding the different ways in which consumers value
products and services.
3 Dimensions
Symbolism
Experience
Utility
Key Psychological Process
The
Black Box
-The Stimulus-Response Model :
Converting Customers using Psychology
Help Customers break through "Action Paralysis" by setting Minimums:check:
Embrace the Power of Labels:check:
Understand the 3 types of Buyers:check:
Highlight Strengths by admitting Shortcomings:check:
Use Urgency the Smart way:check:
Make their Brain light up Instantly:check:
Make an Enemy:check:
Stand for Something:check:
Devil's Advocate:check:
Keep them on their toes:check:
Consumer Behaviour
Marketing applications
– Positioning
– Target market selection
– Market segmentation
– Pricing decisions
– Distribution decisions
– Promotion decisions
– Product or service decisions
Consumer Personality
The Customer Experience
Current Behaviour
Intended Behaviour
Rational Ties
Emotional Ties
Buying Roles
Initiator
Influencer
Decider
Buyer
User
Consumer Buying Decision Process
Five Stage Model
Possible Influences
Cultural
Consumer’s culture, subculture and social class
Social
Groups, family, roles and status
Personal
Age and lifecycle stage, occupation, personality and self concept
Psychological
Motivation, perception, learning, beliefs and attitudes.
Types of Buying Decision Behaviour
