Consumer Psychology: General definition: Consumer behavior is the study of how people are making purchase decisions It is the study of individuals, groups, or organizations and all the activities associated with the purchase - Wikipedia Consumer behavior is the study of consumers and the processes they use to choose, use (consume), and dispose of products and services - omniconvert.com It involves the psychological processes that consumers go through in recognizing needs, finding ways to solve these needs, making purchase decisions, interpret information, make plans, and implement these plans - consumerpsychologist.com What should you study and what inferences should you be able to make under consumer behaviour for your business? Consumer behavioural study should cover: Cultural and social contexts that influence the consumer-brand interactions Family, friends and peer pressure / influence on the consumer-brand interactions The patterns / steps followed just before interacting with the brand - psychological process itself What do they think of your competition, how do they reason and select the product? The influence to purchase will be determined by: Demographics – A person’s interests and opinions will be affected by demographics such as age, gender, culture, profession, background and so on Psychographics – Everybody’s response to a particular marketing campaign will be based on their perceptions and attitudes. A person’s ability to comprehend information, their perception of their need, their attitude, will all play a part Influence – Peer groups, from family and friends to social media influence. This factor also includes social class, income, and education level - brandwatch.com Collecting data on consumer interests and interactions with brand: Surveys, keyword research, competition analysis, Google trends, website analytics, social media analytics, blog comments, Q&A websites etc My experience: If there is a physical store, go ahead, observe keenly the way consumers interact with the brand, if possible speak to them, assist their buying, this is the best way to know their thought processes and what what can influence their interaction patterns Nobody can give you better insights into consumer psychology than your co-workers who are into sales, marketing, front facing consumer assistants, store managers and business development executives One of the most powerful things when it comes to online consumer psychology - your ability to co-relate when you look at website analytics and social media analytics Remember! Nothing like empathy, nothing like a human touch and nothing like personal communication and interaction. It is all about stories that are exchanged and the common ground you can hit with your consumers Need more? Get in touch with me on ConsultManasi - Linkedin, Facebook, Twitter, Instagram & Gmail Consumer Psychology, Marketing, Communications, Digital Media, Target Audience, Persona Mapping, Segmentation
