Consumer Psychology
Consumer Psychology is a speciality area that focuses on understanding how and why people buy goods and services.
It is a speciality area that studies how our thoughts, beliefs, feelings and perceptions influence how people buy and relate to goods and services.
The term Consumer Psychology refers to the study of how people relate to the goods and services they use in their daily lives, Also known as the study of Consumer Behaviour, Consumer Psychology provides opportunities to examine issues such as what factors are most important when people decide to purchase a particular item, how customers determine the value of a service, and whether or not television and magazines advertisements can convince a reluctant consumer to try a new product for the first time.
The discipline of Consumer Psychology draws heavily from the fields of marketing, advertising, economics, anthropology, social psychology and cognitive psychology. However, Consumer Psychology has been recognised as its own area of study since World War II. One of the first noted consumer psychologist was John.B.Watson.
The nature of consumer behavior is easy to understand. Consumers buy or eat what they want and what they value.
Survey takers consider age, gender, education, income, geography, religion, and line of work among many other indicators.
Consumer behaviour is dynamic in nature, meaning, it keeps on changing. It is challenging to study a human mind as it is a big task.Coming to the scope of consumer behaviour, it has a vast scope. We include the whole world into it and for every product whether electronics, FMCG, consumer durables etc, we need to study consumers' mind.ANSWER:It focus on analyzing the behavior of the consumer in terms of demographic variables such as; psycho graphic, geographic, behavioral, needs-benefit, and other factors that needs to be be examined for marketing segmentation. It includes tracking segment's perceptions with regards to the various products in the market which will be used in formulating or enhancing the organization's marketing strategies.
The nature and scope of manufacturing management is used for purposes of production, This will include all the stages of production up to the point where the product is ready for the consumer.
Organisational behaviour is the study and application of knowledge about how people,individuals and groups act in organisations.
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