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Consumer Psychology


Submitted By beccalynnyee
Words 1458
Pages 6
Running Head: Consumer Psychology



Consumer psychology “employs theoretical psychological approaches to understanding consumers” (Hawkins, 2007). Many individuals consider this technique a part of industrial-organizational psychology studying how our thoughts, beliefs, feelings and perceptions affect what we buy and that particular relationship to goods and services offered to the general public and businesses (Society for Consumer Psychology).
Additionally it is defined as groups, organizations or individuals and the manner they select, buy, or dispose of products and/or services (Hawkins, 2007). It also may encompass ideas and the impact all of these things have on each consumer and society as a whole.
In order for a business or organization offering products or services, each must understand the wants and needs of the consumer. Basically, they must figure out what product or trend is popular at a certain point in time. Then it is up to their marketing analysts to target specific groups in relation to gender, age, socioeconomic status in relation to products or services that will appeal to specific groups or individuals
(Perner, 2012).
Obviously, consumer psychology focuses on behavior and how it is applied to consumer issues. It can occur as an individual process or in the context of how groups perceive another’s ideas or influence about purchases. Marketers appeal to these individuals or groups which impacts society as a whole.
Consumer psychology has specific concepts that influence consumer behavior. They are as follows:

Consumer reciprocity: This means that a person responds to a positive action with another similar positive action. If someone does something for you, a positive reaction is that you would respond in a similar manner back to the

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