StudentShare solutions
Triangle menu

Consumer Psychology and Buyer Behavior - Essay Example

Not dowloaded yet

Extract of sample
Consumer Psychology and Buyer Behavior

It is of utmost importance for the marketer to know the behavioural patterns of the target consumers much before the product is launched. Therefore, it can be said without any doubt that the study of consumer behaviour has been the arena of constant research for a marketer.
A person can be referred to as consumer if he shows his willingness to obtain goods or services from a seller with the intention of making payments. Consumer behaviour can be defined as the study of variables that determine the purchasing behaviour of any willing person to purchase any product or service. Consumer behaviour is believed to be influenced by the factors like psychology, sociology and economics apart from the product knowledge, product specifications and brand recognition.
Cultural factors - The behaviour of a grown up person often depends upon the set of values, perceptions and his preferences as a child, which he acquired from his family or other influential sources. Each culture also has certain sub-cultures within it which provides more specific identification of their behaviour. A subculture includes religion, nationality, region and racial groups. A proper understanding of the implications and bearings of the sub-cultures assists the marketer to analyse the behaviours of the consumer in an effective way. Another important factor that must be taken into consideration along with the cultural factor is that of social class. Social class is indicated by a cluster of variables like occupation, wealth, income and education among other factors. Social class is a crucial variable because a person is often perceived as inferior or superior based upon the social class. It has been observed that social classes essentially differ in dress, speech, hobbies, etc.
Social Factors - The social factors like reference groups, family, roles and ranks also determine the behaviour of the consumer.
Reference groups are the groups that have a direct influence on the attitude of the buyer, which might affect his purchasing behaviour. Groups that have direct influence on the consumers are known as membership groups. Membership groups can be subdivided into two categories, namely primary group (which consists of family, friends and neighbours with whom the person interacts informally) and the secondary group (which calls for more formal interaction and often based upon profession or religion).
The studies on consumer psychology have also shown that people often get influenced by the groups to which they are not directly related. It might take the form of an aspirational group (it is that group to which the person longs to get associated and behaves the way the group does) or a dissociative group (the consumer do not like the group and so behaves in a way so that is not same as the way the group does). The other major player among the reference group is the opinion leader. Opinion leader is a person who is believed to have a sound knowledge on a product and its usage and takes informal channel of ...Show more

Summary

The objective of marketing is believed to be achieved only when the product is sold and revenue earned. In today's competitive market, it is an accepted fact that the consumer is the king. The marketer, in order to be successful, has to produce and design his product according to the need of the consumer…
Author : gregoriowuckert
Consumer Psychology and Buyer Behavior essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Consumer Psychology and Buyer Behavior"
with a personal 20% discount.
Grab the best paper

Related Essays

Understanding & Researching Consumer Buyer Behaviour
Marketing researchers in this vein place their emphasis on the taxonomic system of classifying products into either non-impulse or impulse products so as to enable marketing strategies, for instance, point of purchase advertising, in-store promotions or merchandising (Hulten and Vanyushyn 381).
8 pages (2000 words) Essay
Consumer Behavior
“The impact of consumer behavior on society is also of relevance. For example, aggressive marketing of high fat foods, or aggressive marketing of easy credit, may have serious repercussions for the national health and economy” (Consumer Behavior, 2010).
4 pages (1000 words) Essay
Consumer Behavior
udy of the Market Environment 15 3.Defining Advertising Objective 15 4.Selecting Media for Advertising 15 5.Evaluation of Advertising Effectiveness 15 Branding Strategy 16 Works Cited 17 Introduction In Europe, UK is the leading market for consumer’s electronics as it hold 22 percent share of the European market with its sales reaching about ?
16 pages (4000 words) Essay
Consumer Buyer Behaviour and Organisational Buyer Behaviour
This essay discusses the buying behavior which is stated to be the compilation of decisions as well as actions of individuals entailed in purchasing and making use of products. The consumers are observed to usually undergo a psychological course of action while making the purchase of products.
9 pages (2250 words) Essay
Consumer behavior
That is, only if an organization is able to grasp the above mentioned aspects of customers particularly consumer behaviour and their buying process, they can come up marketing or enticing strategies accordingly. Consumer behaviour covers a lot of ground, as it is “study of the processes involved when individuals or groups select, purchase, use products, services, ideas or experiences to satisfy needs and desires.” (Solomon and Bamossy 2005).
11 pages (2750 words) Essay
Consumer Behavior Master Essay
In general, for a major purchase there are six stages to the Consumer Buying Decision Process. It is important to realize that the actual purchasing is only one stage of the process and not all decision processes end up in a purchase. Besides it is also important to realize that it is not necessary for all the purchases to follow all the 6 stages.
17 pages (4250 words) Essay
Consumer buyer behaviour and organisational buyer behaviour
Buying behaviour is stated to be the compilation of decisions as well as actions of individuals entailed in purchasing and making use of products. The consumers are observed to usually undergo a psychological course of action while making purchase of products. This particular
7 pages (1750 words) Essay
Key Consumer Psychology & Buying Behavior
According to the report thee psychological factors are further classified into an individuals, motivation, expectations and past experience, attitudes and beliefs, as well as their perception. Consumer psychology has recently attracted a lot of attention in both theory and practice of marketing due to its importance.
6 pages (1500 words) Essay
Consumer Market and Consumer Buyer Behavior
The firm began in 1997 with its focus on the design and equipment manufacturing and development of design for devices. The technology adapted advanced products such as PDAs,
2 pages (500 words) Essay
Consumer Psychology
A wide range of service and product related information is important to consumer psychology, comprising marketer instigated stimuli
6 pages (1500 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation