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Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer 's emotions, attitudes, and preferences affect buying behaviour. Consumer behaviour emerged in the 1940–1950s as a distinct sub ...
A customer insight, or consumer insight, is an interpretation of trends in human behaviors which aims to increase the effectiveness of a product or service for the consumer, as well as increase sales for the financial benefit of those provisioning the product or service. [1] There is an overlap between market research and customer insights.
The same retail environment may produce varied outcomes and emotions, depending on what the consumer is looking for. For example, a crowded retail environment may be exciting for a consumer seeking entertainment, but create an impression of inattentive customer service and frustration to a consumer who may need help looking for a specific ...
The three-process view is a psychological term coined by Janet E. Davidson and Robert Sternberg . According to this concept, there are three kinds of insight: selective-encoding, selective-comparison, and selective-combination. [1] Selective-encoding insight – Distinguishing what is important in a problem and what is irrelevant. (i.e. filter ...
Construal level theory (CLT) is a theory in social psychology that describes the relation between psychological distance and the extent to which people's thinking (e.g., about objects and events) is abstract or concrete. [1][2] The core idea of CLT is that the more distant an object is from the individual, the more abstract it will be thought ...
Nudge theory. Nudge theory is a concept in behavioral economics, decision making, behavioral policy, social psychology, consumer behavior, and related behavioral sciences [1][2][3][4] that proposes adaptive designs of the decision environment (choice architecture) as ways to influence the behavior and decision-making of groups or individuals.
e. Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [1][2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
According to VALS 2, a consumer purchases certain products and services because the individual is a specific type of person. The purchase is believed to reflect a consumer's lifestyle, which is a function of self–orientation and resources. In 1991, the name VALS2 was switched back to VALS, because of brand equity. [4]