Marketing Concepts

Topics: Psychology, Marketing, Cognition Pages: 2 (609 words) Published: August 28, 2008
1- Consumer Behaviour.
One of the most challenging concept in marketing deals with understanding why consumers behave in a certain way or do what they do (or don’t do). Two major psychological concepts are often used to explain and understand the consumer’s behaviour. The first is the so called in psychology the cognitive psychology in which the focus of the study is the mental behaviour i.e. the internal influence such as perception, memory, attention, attitude, beliefs, values, personality and buying motives. The second psychological concept is the social psychology in which the phenomenon of consumer behaviour is completely influenced by the external forces, i.e. social and referenced groups. There is no doubt that the consumer behaviour is extremely complex due to the nature of human beings differences in all the levels. Nevertheless, a common definition of consumer behaviour is the study of individuals, groups, or organizations and the processes of the buying units and the exchange processes involved in acquiring, consuming, and disposing of goods, services, experiences, and ideas. But such knowledge is critical for marketers since having a strong understanding of buyer behaviour will help shed light on what is important to the customer and also suggest the important influences on customer decision-making. Using this information, marketers can create marketing programs that they believe will be of interest to customers.

2- Consumer Decision making
Consumer decision making is explained and viewed as a complex process that is conducted in steps in which consumers identify their needs, collect information, evaluate alternatives, and make the purchase decision. Some refer this process as problem solving phenomena. These actions are determined by psychological and economical factors, and are influenced by environmental factors such as cultural, group, and social values. Consumer’s decision making differ in many ways, just as problem solving...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Accounting Concepts Essay
  • Political concepts Essay
  • Essay on The Concept of Belonging
  • Concept of Self Essay
  • Essay about Concept Analysis
  • Essay on Concept of Learning
  • The Concept of Power Essay
  • The concept of Prejudice Essay

Become a StudyMode Member

Sign Up - It's Free