Business practice and marketing approaches strongly depend on the social aspect. Marketing used to concern mostly producing and delivering products to customers. Nowadays, the emphasis of marketing is made on understanding customer psychology. Sellers can increase their profits and become more efficient by considering consumer behavior and motives. Thus, the main aim of this paper is to learn how consumer psychology affects the whole system of marketing and to determine its application in marketing communications.
Consumer psychology includes habits, behavior, customs and preferences revealed by the customers when choosing a product (Perner, 2010). It is often used to predict people’s buying behavior. Information about what makes people buy a certain product can be applied for designing promotion campaigns and creating new products.
Construal Level Theory as an Integrative Framework for Behavioral Decision-Making Research and Consumer Psychology
Klaus Fiedler (2007) describes consumer psychology of making decisions and preference reversals in the article. Producers do not always adapt to customers’ needs; more often they try to change their choices and preferences in products. The author calls it “the ultimate goal of advertising and marketing campaigns” (Fiedler, 2007, p. 102).
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Fiedler (2007) believes that customer psychology of choosing a product depends on dimension of psychological distance, diversity of the ways to present information, the category-split effect, the amount of information, etc. Using the example of choosing a travelling option, the author illustrates how psychological distance influences decisions. A customer will choose the most feasible and achievable option in the near future, while the most desirable option will be selected, if the trip is going to take place in the distant future (Fiedler, 2007).
Consumer behavior can be affected with diversity of the ways to present information. The appeal of information decreases, when it is presented in the way, which requires the customers to wait for a long time to get a positive outcome with small probability (Fiedler, 2007).
The category-split effect demonstrates the decline in option’s attractiveness when the customer examines it closer. After receiving more information, the customer chooses the option with less feasibility problems, and not the most desirable one (Fiedler, 2007). Moreover, big amount of information can cause more difficulties for a customer in making a decision.
The psychological distance issue is significant for businesses, because it allows forming the correct advertising message when offering a product to the customer. Marketers can predict customer’s actions and choices by taking into consideration time and information factor.
Consumer Decision Making and Aging: Current Knowledge and Future Directions
Special attention needs to be devoted to the elderly population while forming and advancing marketing communication system (Yoon, Cole & Lee, 2009). Therefore, the authors research peculiarities of elderly customers’ psychology along with explaining common factors, which influence the psychology of customers when they are making decisions about selecting products.
Consumers` psychology is based on a couple of key factors, which can be divided into task environment category and individual characteristics. Task environment, which is also called contextual, includes familiarity with a certain product, meaningfulness of the advertisement, stereotypes, time pressure and time of day when customers are making decisions. Individual characteristics are described with age, health, personal motivation and goals, cohort, knowledge and memory customers have (Yoon et al., 2009).
Psychology of the elderly population works in the conditions of limited human resources and abilities, such as working memory, attentiveness, etc. Therefore, the marketing communication message to them needs to provide user-friendly information (Yoon et al., 2009).
Advertisement for senior customers should have a persuasive, emotional message rather than rational or related to knowledge. Elderly customers, unlike young customers, rely on emotional reactions under the conditions of high cognitive load. Poor working memory of senior customers affects remembering brand names. Therefore, marketers should focus on brand reputation or other basic concepts in marketing communication messages, which are easy to remember. Senior customers have highly developed pictorial perception and implicit memory; thus, marketing communication message has to be graphical and easy to picture. Sometimes it is necessary to use decision aids, for example, writing down information in order to illustrate and help perceiving. Time pressure and stereotypes are the factors, which negatively affects elder population leading them to making wrong choices. Elder seniors need to be put into situations when they are not limited in time for making a decision.
The articles explain how success of marketing communication complex can be influences with customer psychology. Consumer psychology reflects how people feel, think and reason when choosing an item, brand or trade mark. Effective promotion requires having a deep understanding of consumer behavior in order to predict their motivation of choosing and buying a product. The most influential factors for consumer psychology, mentioned by the authors, are individual characteristics, task environment, dimension of psychological distance, ways to present information and the amount of information. Considering these factors requires adapting marketing communications means and messages for different segments of customers in various situations.