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Marketing Psychology - Essay Example

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Running Head: Marketing Psychology Marketing Psychology Marketing Psychology Introduction Consumer culture is an important element of marketing. In today’s competitive environment, it is essential for companies to understand their consumer’s culture…
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Marketing Psychology
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Download file to see previous pages Consumer Behaviour Consumer behaviour is an important element of consumer culture. In general, it is usually considered as the study of purchasing process i.e. how a person buys products. However, this purchase process study is just a part of definition; it includes other elements, which the following definition explains: “Consumer behaviour reflects the totality of consumer’s decision with respect to the acquisition, consumption, and disposition of goods, services, activities, experiences, peoples, Ideas by (human) decision making units (over time)” (Wayne & Deborah, 2008, pg. 3). Consumer behaviour includes more than just the way a person buys tangible products; it further includes a consumer use of services, experiences, activities and ideas. Examples would include decision making like attending an event, donation to a particular charity, planning a vacation etc (Wayne & Deborah, 2008, pg. 3). A consumer manner of buying is extremely important to marketers. However, along with it, marketers are also very interested in consumer behaviour related to using and disposing of an offering (Wayne & Deborah, 2008, pg. 4). As Mowen in 1995 defined, “Consumer behaviour as the study of buying units and the exchange process involved in acquiring, consuming and disposing of foods, services, experience and ideas” (Apruebo, 2005, pg. 2). ...
5). Consumer Psychology Davis and Palladino (1995) defined consumer psychology, “as the study that deals with activities directly involved in selecting, obtaining, and using products, services, and ideas to satisfy needs, and desires, including decision making process that precede and follow these actions.” Simply speaking, it is an applied branch of psychology on consumer behaviour (Apruebo, 2005, pg. 2). Consumer psychology is an aspect of consumer behaviour (Armstrong, Armstrong, & Kotler, 2007, pp. 250-325). In addition, consumer psychology is one of the major aspects and factors that influence consumer behaviour, and it is the basic element of consumer behaviour because this is what triggers a consumer towards consumption of good. It is the most initial or basic element because while evaluating the purchase of a product, psychological processes are the first step customer engages in. The customer needs to be motivated, able, and have the opportunity to be exposed, to understand and utilize information (Bennet, 2009, pp. 30-36). A customer need to think about the available information, develop an attitude towards it and form memories. These are all the psychological aspects of consumer behaviour, study of which describes consumer psychology (Wayne & Deborah, 2008, p 11-12). Consumer psychology mainly deals with why and how people buy certain products and why not others. It is concerned with how believes, feeling, perceptions, and thoughts of a customer influence on the choice of goods and services he purchase. It encompasses of factors like thoughts, feeling, emotions attached to the product, environmental variable like family, friends, society, culture, personal factors etc (Kendra, n.d). Difference between Consumer Behaviour ...Download file to see next pagesRead More
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