Psy 322 Consumer Psychology Paper
Consumer Psychology
PSY/322
September 6, 2014
Lori Mccloud
Introduction
This essay will discuss the definition of consumer psychology, and will describe the psychological concepts and their importance in developing a successful marketing communication message. It will further explain the relationship between consumer psychology and marketing communications.
Consumer Psychology
Consumer Psychology examines how consumers process information and form judgments and how memory and judgment affect customer’s decision making. Research on information processing and judgment draws heavily on the theories and research methods of cognitive and social psychology. Therefore elaboration and cognitive resources serve as central …show more content…
constructs and experimental procedures are common in consumer psychology research. Theories borrowed from psychology are tested for robustness and are enriched by examining moderating and mediating conditions made salient by the consumption role and setting. (Tybout & Artz, 1994, p.xx).
Consumer psychology is a specialty area that studies how our thoughts, beliefs, feelings and perceptions influence how people buy and relate to goods and services. One formal definition of the field describes it as "the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society".
(Tybout & Artz, 1994, p.xx).
Successful Marketing Communication
Business and organizations research various ways to understand the consumers’ needs and develop an effective approach towards delivering their wants. Their principal is to accomplish consumer satisfaction. This implementation describes how consumer psychology and marketing works hand and hand. Consumer psychology is a key components in marketing decision tools for businesses to be and remain successful. This information is based on how the marketing company create new ideas and products to introduce to consumers.
Market analysis and segmentation are vital elements in marketing activity. As the marketplace expands beyond domestic parameters so too does competition; on the one hand, actual and potential demand increases, whilst the number of suppliers now and in the future increases.
If one is to maintain market share, or better, achieve growth, then this requires a sound knowledge of one 's customers and potential consumers. (D, 1995, p. …show more content…
xx).
Further, there is a need for accurate and timely market intelligence. The latter, if it is to be valuable, necessitates a firm grasp of the likely effect of events and trends on consumers and thus an understanding of customer’s behavior. A wealth of examples is presented to illustrate points which reflect, perhaps more than anything else, both the design and value of this text to practitioners. Perhaps this occurs because consumers focus on diagnostic information in deliberative situations and confidence is related to diagnostic. If so, accessibility may have greater influence than confidence when customer’s make spontaneous decisions, though further research is needed to examine this idea. Some readers might like to find more detail in many of the examples presented. The greater the knowledge and understanding of such behavior the more effectively can comprehensive information on the marketplace be applied in marketing operations. (D, 1995, p. xx).
Consumers Psychology and Marketing Communication
Consumer psychology studies how our perceptions, thoughts, feelings, and beliefs influence how we relate to and buy goods and services.
It is the study of why we buy certain products and not others, and the process of what we go through to use, select, secure, and dispose of these products or services. It delves into the reasons of how we satisfy our needs and the impact these processes have on society and the consumer. Marketing communications are messages and other media that is used to communicate with a market. It is considered the promotion part of marketing which consisting of pricing, products, promoting, and placing. Marketing communications is what drives us to buy, whereas consumer psychology studies how or why we buy. These articles both explain the significance of each other. For example if a company can put a product out on the market. This product has the best bargains regarding pricing and value on the Market. If so the customer may still choose to purchase items in which they have been influence by within
marketing.
Conclusion
In conclusion each article included detailed information to illustrate the relationship between consumer psychology and market communications. The essay completely defines exactly what consumer psychology means. Other concepts such a psychological are greatly discussed and its importance in developing a successful marketing communications.
References
Tybout, A. M., & Artz, N. (1994). Consumer psychology. Annual Review of Psychology, 45, 131. Retrieved from http://search.proquest.com/docview/205823161?accountid=35812Leslie, D. (1995). Consumer psychology for marketing. The Service Industries Journal, 15(1), 112. Retrieved from http://search.proquest.com/docview/203356423?accountid=35812
PSY/322
September 6, 2014
Lori Mccloud
Introduction
This essay will discuss the definition of consumer psychology, and will describe the psychological concepts and their importance in developing a successful marketing communication message. It will further explain the relationship between consumer psychology and marketing communications.
Consumer Psychology
Consumer Psychology examines how consumers process information and form judgments and how memory and judgment affect customer’s decision making. Research on information processing and judgment draws heavily on the theories and research methods of cognitive and social psychology. Therefore elaboration and cognitive resources serve as central …show more content…
constructs and experimental procedures are common in consumer psychology research. Theories borrowed from psychology are tested for robustness and are enriched by examining moderating and mediating conditions made salient by the consumption role and setting. (Tybout & Artz, 1994, p.xx).
Consumer psychology is a specialty area that studies how our thoughts, beliefs, feelings and perceptions influence how people buy and relate to goods and services. One formal definition of the field describes it as "the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society".
(Tybout & Artz, 1994, p.xx).
Successful Marketing Communication
Business and organizations research various ways to understand the consumers’ needs and develop an effective approach towards delivering their wants. Their principal is to accomplish consumer satisfaction. This implementation describes how consumer psychology and marketing works hand and hand. Consumer psychology is a key components in marketing decision tools for businesses to be and remain successful. This information is based on how the marketing company create new ideas and products to introduce to consumers.
Market analysis and segmentation are vital elements in marketing activity. As the marketplace expands beyond domestic parameters so too does competition; on the one hand, actual and potential demand increases, whilst the number of suppliers now and in the future increases.
If one is to maintain market share, or better, achieve growth, then this requires a sound knowledge of one 's customers and potential consumers. (D, 1995, p. …show more content…
xx).
Further, there is a need for accurate and timely market intelligence. The latter, if it is to be valuable, necessitates a firm grasp of the likely effect of events and trends on consumers and thus an understanding of customer’s behavior. A wealth of examples is presented to illustrate points which reflect, perhaps more than anything else, both the design and value of this text to practitioners. Perhaps this occurs because consumers focus on diagnostic information in deliberative situations and confidence is related to diagnostic. If so, accessibility may have greater influence than confidence when customer’s make spontaneous decisions, though further research is needed to examine this idea. Some readers might like to find more detail in many of the examples presented. The greater the knowledge and understanding of such behavior the more effectively can comprehensive information on the marketplace be applied in marketing operations. (D, 1995, p. xx).
Consumers Psychology and Marketing Communication
Consumer psychology studies how our perceptions, thoughts, feelings, and beliefs influence how we relate to and buy goods and services.
It is the study of why we buy certain products and not others, and the process of what we go through to use, select, secure, and dispose of these products or services. It delves into the reasons of how we satisfy our needs and the impact these processes have on society and the consumer. Marketing communications are messages and other media that is used to communicate with a market. It is considered the promotion part of marketing which consisting of pricing, products, promoting, and placing. Marketing communications is what drives us to buy, whereas consumer psychology studies how or why we buy. These articles both explain the significance of each other. For example if a company can put a product out on the market. This product has the best bargains regarding pricing and value on the Market. If so the customer may still choose to purchase items in which they have been influence by within
marketing.
Conclusion
In conclusion each article included detailed information to illustrate the relationship between consumer psychology and market communications. The essay completely defines exactly what consumer psychology means. Other concepts such a psychological are greatly discussed and its importance in developing a successful marketing communications.
References
Tybout, A. M., & Artz, N. (1994). Consumer psychology. Annual Review of Psychology, 45, 131. Retrieved from http://search.proquest.com/docview/205823161?accountid=35812Leslie, D. (1995). Consumer psychology for marketing. The Service Industries Journal, 15(1), 112. Retrieved from http://search.proquest.com/docview/203356423?accountid=35812