Psychology of Consumer Behaviour

What is it?
It is actually the study and understanding the psychology of the consumers and how the external and internal factors would contribute to the consumer decisions buying or purchasing behaviour.

An overview and the concept of the psychology of consumer behaviour

There are several factors that induces impact towards consumer decision making process in thepurchasing.
1. The External Factor:
This shall involve the environment where they are. The economic, law, social and culture. Many scholars says that the culture and social has a great impact on the psychological impact since the culture means the society and also the culture which the consumer was brought up or at leas have a daily, continuous daily interactions.
Beside that, the family, people they interact are classified under social and this list is also contributing as the important factors that induce impact to the consumer psychology in buying decision.
2. The product
This act as a stimuli. it is important to understand that stimuli could also result in inducing impact towards consumer buying behaviour. A well packed product which meets the consumer expectation, placement and distribution would be well chosen by the consumer.
Understanding the consumer expectation, psychology would tremendously help the product sales.
3. Salesperson
This is also an important stimuli. How the sales person approach would also act as the important factor in providing the impact towards consumer buying behaviour.
4. Consumer her/him/itself
This is the internal factor. The consumer her or himself is the most important in how they themselves decide in purchasing.
What is meant here, there are some factors related to them;
+ Cultural
+ Social
+ Economic
+ Psychology
All these internal factors of the consumer themselves would determine a lot on their buying behaviour.
How many type of consumer?


There are only 2 type:
1. The consumer market
2. The business market
When to use the knowledge of consumer buying behavior?
We should use in:
a. For research - provide questionnaires that would determine or answer the consumer buying
behaviour
b. The finding of the research should then be used in Business Plan or Marketing Plan.
It is important to remember that any planning, business or marketing plan, and even postulating strategy such as market penetration strategy would not be complete/accurate without research on consumer buying behaviour/psychology of consumer buying behaviour.
c. Analysing one's advertisement whether it is producing the right impact with the known consumer buying behaviour and decision making.