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Psychographic segmentation has been used in marketing research as a form of market segmentation which divides consumers into sub-groups based on shared psychological characteristics, including subconscious or conscious beliefs, motivations, and priorities to explain, and predict consumer behavior. [1]
Psychographics is defined as "market research or statistics classifying population groups according to psychological variables" [1] The term psychographics is derived from the words "psychological" and "demographics" [2] Two common approaches to psychographics include analysis of consumers' activities, interests, and opinions (AIO variables), and values and lifestyles (VALS).
Self-determination theory – is an organismic theory of behavior and personality development that is particularly concerned with how social-contextual factors support or thwart people's intrinsic motivation, social integration, and well-being through the respective satisfaction or deprivation of posited basic psychological needs for competence ...
McGuire’s Psychological Motivations is a classification system that organizes theories of motives into 16 categories. The system helps marketers to isolate motives likely to be involved in various consumption situations.
Psychology & Marketing is a monthly peer-reviewed scientific journal covering the psychological study of marketing and consumer behavior. It was established in 1984 and is published by John Wiley & Sons. The editor-in-chief is Giampaolo Viglia.
Psychological factors include an individual's motivation, attitudes, personal values, and beliefs. Social identity factors include culture, sub-culture, and reference groups. Other factors that may affect the purchase decision include the environment and the consumer's prior experience with the category or brand.
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1 ]
Immediacy (I) takes into account how recent the event occurred and whether or not there were other intervening factors. The number of sources (N) refers to the amount of sources of influence; Based on these formulas, Latané coined three laws around social forces, psychosocial impact, and multiplication/division of impact.