Found 126 Articles for Consumer Psychology

Problem Recognition in the Buying Process

Utkarsh Shukla
Updated on 30-Mar-2023 15:51:16


Problem recognition is the initial stage in the lengthy consumer decision-making process and is critical for several reasons. For starters, it indicates why customers desire to acquire what they wish to buy. Second, it provides a clear direction for his upcoming purchasing behavior phases, such as information search and alternative evaluation: Third, it gives marketers enormous leeway in influencing how purchasers identify or do not realize their demands. As a result, a "virtuous loop" arises between consumer identification of an issue and marketers' stimuli or signals that drive consumers to react in a desired manner. It is also possible ... Read More

Moderating Assortment Factors

Utkarsh Shukla
Updated on 30-Mar-2023 15:46:30


In today's fast-paced world, consumers can access a wide range of products from different brands, making it challenging for retailers to differentiate themselves from their competitors. As a result, retailers have to carefully manage their product assortments to meet the needs of their customers. Moderating assortment factors can help retailers determine which products to offer, how to organize them in-store, and how to promote them to customers. What are Moderating Assortment Factors? Moderating assortment factors are the criteria retailers use to determine which products to offer and how to present them to customers. These factors include the product category, ... Read More

Post-purchase Behavior of Consumers

Utkarsh Shukla
Updated on 30-Mar-2023 15:11:39


A relationship between the client and the marketer is mainly shaped by post-purchase behavior. A marketer's endeavor to identify post-purchase consumer behavior shows his willingness and dedication to implement a marketing approach or concept in a firm. In doing so, the marketer thinks like his consumers and empathizes with them. If a customer's purchase symbolizes their consuming goals and motivations, the post-buy behavior shows whether or not those goals and motivations have been realized. Purchase action is, therefore, the method, while post-purchase assessment is the result. Post-purchase Use and Disposal Marketers need to keep an eye on how consumers ... Read More

Policy Issues and Marketing of Safer Tobacco Products

Utkarsh Shukla
Updated on 30-Mar-2023 14:45:35


With the growing awareness of the harmful effects of smoking, many consumers are seeking alternatives to traditional tobacco products. E-cigarettes, heat-not-burn tobacco products, and snus have emerged as some of the most popular "safer" alternatives to traditional cigarettes. These products are marketed as less harmful than traditional cigarettes and are touted as practical tools to help smokers quit. However, there is still much debate about the safety and efficacy of these products. Policy Issues with Safer Tobacco Products Firstly, it is important to acknowledge why people are drawn to these products. Smokers know that cigarettes are harmful and are ... Read More

Persuasive Advertising: Meaning and Examples

Utkarsh Shukla
Updated on 30-Mar-2023 14:40:59


Advertising is growing more reliant on persuasion. One key reason is that competitors find it simpler to destroy whatever functional or pricing advantage a product may have. A company may still benefit from a well-established distribution system that is difficult to replicate. However, distributors' goodwill and preferences can be undermined by changes in their purchasing practices or a fall in customer demand for the product. Companies are trying to reactivate long-neglected techniques of reaching the customer, such as sports sponsorship, billboards, and movies wherever people are waiting, whether at airports or physicians' waiting rooms. Persuasive Advertising Persuasive advertising is ... Read More

Perceptions of Fair Pricing

Utkarsh Shukla
Updated on 30-Mar-2023 14:25:41


Pricing is a crucial aspect of any business strategy. It can impact a company's revenue, market share, and profitability. However, setting prices that consumers perceive as fair can be challenging. Different consumers have different ideas about what constitutes fair pricing, and these perceptions can vary based on several factors. Understanding consumer perceptions of fair pricing is essential for businesses to establish pricing strategies that align with consumer expectations. This article explores the factors influencing consumers' perceptions of fair pricing and their impact on businesses. In today's globalized and highly competitive market, pricing strategies play a significant role in the ... Read More

Factors Influencing Organizational Buying

Utkarsh Shukla
Updated on 30-Mar-2023 14:17:44


Some economists and marketers argue that the primary factors are primarily economic. Hence, the lowest price or cost is the sole criterion for selecting providers. On the other hand, others go so far as to declare all corporate purchasing to be an emotional or non-rational act since it includes humans, making it impossible to maintain logic or objectivity. As a result, some providers believe that having solid personal ties or the capacity to win over consumers through lures and personal charms will give them an advantage over competitors. Both points of view are extreme and reflect only a narrow ... Read More

Perspectives on Branding

Utkarsh Shukla
Updated on 30-Mar-2023 14:10:12


The relationship between brands and consumers has evolved significantly in the last few decades. The traditional approach of brands being the sole creators and communicators of brand meaning is being challenged by consumers increasingly becoming active participants in the brand meaning-making process. Today, consumers have more access to information, are more educated, and have more control over their buying decisions than ever before. As a result, they have become more critical, vocal, and demanding of brands, influencing brand perceptions and meanings in profound ways. The relationship between consumers and brands has been evolving since the inception of branding. Brands ... Read More

Patterns of Compulsive Buying Disorder

Utkarsh Shukla
Updated on 30-Mar-2023 14:03:46


Compulsive buying is a repetitive, long-lasting buying behavior that primarily responds to adverse events and emotions. It is associated with craving and withdrawal and is characterized by euphoria and reduced negative emotions. Compulsory purchases can lead to large debts, legal problems, personal distress, and marital conflict. Empirical research demonstrates that compulsive buying behavior is associated with mental illness with depression, impulse control disorders, eating disorders, alcoholism, nicotine addiction, and anxiety. What is Compulsive Buying Disorder? The phrase "compulsive buying" refers to a pattern of constant, repetitive shopping that develops into a way of coping with unpleasant emotions and gives ... Read More

Nicosia Models Of Consumer Behavior

Utkarsh Shukla
Updated on 30-Mar-2023 13:59:41

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Two of the newest models highlight the advancements in consumer behavior modelling. The first is the Nicosia model, which focuses on the interaction between the marketing organization and its target consumers throughout the consumer choice process. On the other hand, Bettman's consumer choice information processing model focuses on the techniques consumers use to operationalize the complicated work of information processing. Nicosia's Model of Consumer Decision Process This model elaborates on customers' decision-making phases before purchasing products or services. It is written in the style of a comprehensive computer flow chart. The model can be reduced for clarity by grouping ... Read More