Consumer Psychology and Buying Behaviour Essay Example | Topics and Well Written Essays - 2250 words

Consumer Psychology and Buying Behaviour - Essay Example On the other hand, the marketers need to incorporate their understanding in the involvement principle into the marketing campaigns in order to assist the consumer in their buying decision behavior. The marketing model that is most used by marketers has two distinctive parts. The first part entails a description of a population of ‘consumers’ who individual choose to buy various competing brands over and over again. The second one entails brand management especially when changing the attributes of a brand like the price, or quality in response to events in the marketplace. Several factors have been said to influence marketing. Once a company has carried out efficient marketing research, it is important to ensure that it introduces the approved product and/or service for the market. Location or place is an imperative aspect of marketing where products and or services are distributed. Marketing also entails promotion of products by given companies. It is used to inform cust omers about the new product that the company intends to bring into the market. The market must be dominated by the element of value for products and services. Most potential consumers tend to buy products or services sold at low prices. Loyalty denotes the likeliness of some consumers to stick to the same products. This serves as the key effect and determinism in the market. Psychology entails how and in what ways aspects of the actual products and /or services in the market influences people to make their choices, by possibly buying a product that is different from the previous one. Sociology entails the manner in which one person‘s buying is influenced by that of others. In essence, there is the tendency of people willing to buy the same brands as others leading to a lock in one product that dominates the market without even considering the fact that the competitors have more or less identical ‘qualities’ that may include price. Introduction Marketing is the sel ling of products and services to potential clients in a given environment at a given time. It basically entails the potential clients that are available and how to handle them. Hence, customer psychology and buying behaviour is necessary in any marketing plan because, clients are the most important elements in growth of businesses. Without marketing, potential customers are not able to learn about the existence of products and services they miss, and this leads to lack of success in business (Kinley et al 2010). Essentially, the large part of the marketing focuses on consumer behavior. Thus, application of psychology acts as a paradigmatic influence in explaining human behavior in terms of consumer perceptions and preferences of certain products and services. On the other hand, the marketers need to incorporate their understanding in the involvement principle into the marketing campaigns in order to assist the consumer in their buying decision behavior. In marketing, most consumer p roducts are designed in the manner that appeals to the customers, encouraging them to buy. Thus, industrial and manufacturer tend to focus more on understanding and manipulating products attributes (Kinley et al 2010). Nether the less, buying behavior is not a function product but also a function of the consumer, the social environment of other customers, the competing products in the marketplace, and the brand marketing strategy. Hence, it is important to first understand the psychology of the consumers, and the sociology of consumer groups or networks. The marketing model that is most used by marketers has two distinctive parts.