We the Consumer
January 20, 2014
We the Consumer
“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights that among these are Life, Liberty and the pursuit of Happiness” (Declaration of Independence, 1776, para. 1). As consumers we have the right to use our funds the way we choose, with the exception of having to pay taxes. We choose to have bills for things that lead to our beliefs of what makes us happy and free. There was a time in the dawn of cellular technology only the very affluent members of society carried a portable mobile phone, and ...view middle of the document...
Even the mega chain stores as Walmart and Target have somewhat succumbed to the web shoppers of the world.
Consumer Psychology Defined
Katona’s article (1967) states, “To define consumer psychology in one sentence, is the study of the dynamics of the behavior of masses of consumers. The term ‘dynamic’ means the studies are directed toward the understanding and prediction of factors that change over time. Consumer psychology studies change in the behavior of groups of consumers and attempts to identify the factors responsible for those changes. Differences among consumers are studied by comparing the behaviors of groups which differ with respect to economic variables (e.g., the rich versus the poor), demographic variables (young versus old), psychological variables (optimists versus pessimists, achievement minded versus security minded people). Consumer psychology can contribute to understanding in such areas as decision making, attitudinal and behavioral change, group behavior, and the influence of time perspective and uncertainty. Consumer psychology research has elucidated such issues as the influence of wealth and private pension plans on saving and the effect of income tax cuts on consumers” (p. 219).
Marketing is in the Eye of the Beholder
The psychology aspect of consumer motivations is critical to marketing strategists of the world today. Marketing uses triggers to catch the eye of potential buyers, investors, or advertisers for a product. A consumer then determines whether to buy into the marketing scheme based on personal priorities for their assets. Chartrand and Fitzsimons (2011) introduces the concept of “Nonconscious Consumer Psychology”. “What exactly is “nonconscious consumer psychology”? We use the term to describe a category of consumption behavior that is driven by processes that occur outside a consumer's conscious awareness. In other words, individuals engage in consumption-related cognition, motivation, decision making, emotion, and behavior without recognizing the role...