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Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services.It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour.
There are generally three ways of analyzing consumer buying decisions: Economic models – largely quantitative and are based on the assumptions of rationality and near perfect knowledge. The consumer is seen to maximize its utility. See consumer theory. Game theory can also be used in some circumstances.
The psychology of collecting is an area of study that seeks to understand the motivating factors explaining why people devote time, money, and energy making and maintaining collections. There exist a variety of theories for why collecting behavior occurs, including consumerism, materialism, neurobiology and psychoanalytic theory.
Social psychology utilizes a wide range of specific theories for various kinds of social and cognitive phenomena. Here is a sampling of some of the more influential theories that can be found in this branch of psychology. Attribution theory – is concerned with the ways in which people explain (or attribute) the behaviour of others. The theory ...
A rejection and elimination of psychology from economics in the early 1900s brought on a period defined by a reliance on empiricism. [9] There was a lack of confidence in hedonic theories, which saw pursuance of maximum benefit as an essential aspect in understanding human economic behavior. [6]
Consumer behaviour is the study of the motivations surrounding a purchase of a product or service. It has been linked to the field of psychology, [1] sociology [2] and economics [3] in attempts to analyse when, why, where and how people purchase in the way that they do.
Experiments in cognitive science and social psychology have revealed a wide variety of biases in areas such as statistical reasoning, social attribution, and memory. [ 3 ] Choice-supportive memory distortion is thought to occur during the time of memory retrieval and was the result of the belief that, "I chose this option, therefore it must ...
In the field of consumer behavior, an impulse purchase or impulse buying is an unplanned decision by a consumer to buy a product or service, made just before a purchase. [1] One who tends to make such purchases is referred to as an impulse purchaser , impulse buyer , or compulsive buyer .