What is consumer psychology?

Consumer psychology or also called “Psychology of Consumption”, is a branch or discipline of general psychology, which deals with  studying the behavior that motivates the human being in the decision-making process, for the acquisition or consumption of some good or service. (1)

This discipline is a tool used in the marketing area (2) of large companies, to create production and marketing strategies for their products and even to segment their sales strategies.

Note: This discipline collects all the information, of the aspects that motivate both consciously and unconsciously about the inclinations towards certain products, through field work, surveys or interviews.

On the other hand, this field of psychology delves into the cognitive(3) and emotional aspects that guide consumers’ choices in relation to their preferences and tastes that influence their purchases.

What is the object of study of consumer psychology?

Due to the diversity of factors that converge in consumer behavior, consumer psychology has had to work from several perspectives to address the greatest number of variablesthat can influence. Here are the most studied:

1. Consumer behavior

One of the main objects of study for consumer psychology is obviously the human being through the understanding of their behavior   in relation to their preferences in the acquisition of goods or the use of services.

To highlight: In this context it is vitally important to understand the conscious and unconscious intention, which motivates the behavior towards the choice of certain products over other similar ones.

2. Factors that influence purchasing decision-making

Following the thread of the previous point, another reason for interest in this discipline is the evaluation of the factors that influence the decision to choose a product or service.

3. Market Behavior Prediction

Another important variable is knowing how to anticipate consumer behavior and knowing in different situations and contexts what they choose and how they do it , aspects that are subsequently analyzed in detail by consumer psychology and establish marketing strategies for their clients’ products.

Note: This activity is carried out through direct observation, surveys and interviews with consumers.

Where does consumer psychology apply?

Consumer psychology has various applications in different areas and fieldsof daily life. Here we mention some of them:

1. Scientific field

In this area, the scientific study of human behavior applied to the economy in the relationship of the individual with the laws of the economy, has been very useful.

From this perspective, the psychology of the consumer gives more opportunities for growth to the factors that intervene in the commercial exchange and to the human being, to whom the development opportunities are equally expanded.

2. Business scope

In the commercial field, it has served as Invaluable support for the growth of organizations , since through its intervention the investments made by companies for the production and sale of their products are relatively insured thanks to the intervention of consumer psychology , helping in the positioning of many commercial brands.

3. Social sphere

In this area, it serves as educational support for learning the rights of citizens against consumer practices and customs, many of them induced by advertising and marketing strategies developed without measuring the consequences for the consumer.

You should know: Consumer psychology develops in its work, The Precepts of Abraham Maslow’s Pyramid.

4. Clinical setting

Here, the psychology of consumption intervenes in the support against behavioral disorders arising in society , due to individual and collective behavior in the acquisition of goods and services in the economy, such as compulsive shopping disorder.

Note: In this field, Clinical psychology also intervenes as a branch that addresses aspects of conduct and the behavior of the individual .

What is the importance of consumer psychology?

From a commercial perspective, consumer psychology makes it possible to ensure investments both in the financial field and in the investment of human resources, to guarantee that there is a commercial connection between the product or products they make, with the population they want to target.

Important: From a social point of view, it helps to improve the client-company relationship , since this discipline tries to achieve a connection between the Human Needs of consumers and the products it manufactures through perception.

Key Findings

  • Consumer psychology is a discipline derived from general psychology .
  • Consumer psychology deals with studying the behavior that motivates the human being in the decision-making process for purchases.
  • The object of study of consumer psychology is the human being.
  • Consumer psychology delves into the cognitive and emotional aspects that guide consumer preferences.

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