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Psychological Factors Influencing Consumer Behaviour

Marketing student's task is to understand what happens in the consumer's consciousness between the arrival of the outside market stimuli and the ultimate purchase decisions. To learn more or to get Assignment Help in the USA from the subject experts, you can visit: https://www.myassignmentservices.com/usa/

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Psychological Factors Influencing Consumer Behaviour

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  1. Psychological Factors Affecting Consumer Behaviour Explained by Mitchell Lee

  2. MOTIVATION We all have many needs at a time. Some are biogenic and some are psychogenic. A need becomes a motive when aroused to a sufficient level of intensity to drive us to act. There are many theories of Motivation discussed by different experts but we'll talk about the best known Maslow's Hierarchy of Need Theory

  3. Maslow's Hierarchy of Need Theory Abraham Maslow has tried to explain Motivation with the help of a hierarchy of need that a human waant to satisfy the most important need first and when it's satisfied, then he moves on to the second one. Like getting food, air, shelter, clothing are the basic requirements. when they're fulfilled, then they move on to the second most important need i.e. safety Needs.

  4. Perception What is Perception ? What an individual thinks about a particular product or service is his/her perception towards the same. For someone a Dell Laptop might be the best laptop while for others it could be just one of the best brands available. Individuals perceive similar situation differently due to difference in the way they interpret information.

  5. Selective Attention • Selective Distortion • Selective Retention Processes which lead to difference in perception Selective attention refers to the process where individuals pay attention to information that is of use to them or their immediate family members. An individual in a single day is exposed to numerous advertisements, billboards, hoardings etc but he is interested in only those which would benefit him in any way. He would not be interested in information which is not relevant at the moment. Consumers tend to perceive information in a way which would be in line to their existing thoughts and beliefs. Consumers remember information which would be useful to them, rest all they forget in due course of time. Michael wanted to purchase a watch for his wife and thus he remembered the RADO advertisement which he had seen several days ago.

  6. Learning Learning comes only through experience. An individual comes to know about a product and service only after he/she uses the same. An individual who is satisfied with a particular product/service will show a strong inclination towards buying the same product again.

  7. Beliefs and Attitude Beliefs and attitude play an essential role in influencing the buying decision of consumers. Individuals create a certain image of every product or service available in the market. Every brand has an image attached to it, also called its brand image. Consumers purchase products/services based on their opinions which they form towards a particular product or service. A product might be really good but if the consumer feels it is useless, he would never buy it.

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