Consumer Behavior

Essay by jloschoolUniversity, Bachelor'sB-, December 2013

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Consumer Behavior and Psychology

Consumer Behavior and Psychology

Name: Jonathan Lopez


Sept 17, 2012

ML Ament

Consumer Behavior and Psychology

Consumer psychology describes when, how, why people decide on purchasing a product. It is described as the branch of psychology concerned with market behavior and trends of consumers. The main part is being played by the marketing psychologists who examine the preferences, habits and needs of the consumer that make them go or not go for a particular product. The information is being used by the marketing agencies to make to formulate a product that appeal to the needs of the people which helps in producing effective advertisements campaigns. It is extremely difficult to predict the behavior and attitudes of the consumers and the researcher's ability to conduct extensive research in order to conclude on a particular strategy would help in inducing the consumers towards buying a product or commodity.

Nothing can be said or generalized with certainty related to the trends of the consumer markets. The articles in our consideration also perform the task of analyzing the buyers behaviors in any market and explaining the complications faced while trying to promote the products acceptance on a huge scale. Relationship marketing is seen to be an influential tool for analyzing the consumer behavior and an extreme amount of importance is placed consumer retention, customer relationship and one to one marketing. Businesses expect to perform a psychological analysis of the consumers and carry out surveys in order to predict what are the consumers wants and needs. Consumer psychology works on the concept that when a buyer has a problem, he/she will look to find the solution. The solution is usually hidden inside the products and services rendered by the businesses. If a particular product becomes within high demand within the...