3.2 Psychological factors influencing consumer behavior

Consumer behavior is shaped by psychological factors that drive our decisions. Motivation propels us to action, while learning shapes our responses through experiences. Attitudes, needs, and perceptions filter how we process information and make choices.

Our personalities and self-concepts influence brand preferences and purchasing habits. Understanding these factors helps marketers craft strategies that resonate with target audiences and influence consumer behavior effectively.

Motivation and Learning

Driving Forces Behind Consumer Behavior

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• Motivation propels consumers to take action and satisfy needs or wants
• Intrinsic motivation stems from internal desires for personal satisfaction or enjoyment
• Extrinsic motivation originates from external rewards or pressures (social approval, financial incentives)
• Learning shapes consumer behavior through experiences and information acquisition
• Classical conditioning associates stimuli with responses (jingles linked to brands)
• Operant conditioning reinforces behaviors through rewards or punishments (loyalty programs)
• Observational learning occurs by watching others' behaviors and outcomes (influencer marketing)

Attitudes and Hierarchy of Needs

• Attitudes encompass beliefs, feelings, and behavioral intentions toward objects or ideas
• Cognitive component involves thoughts and beliefs about the attitude object
• Affective component relates to emotions and feelings associated with the object
• Behavioral component refers to actions or intentions toward the object
• Maslow's hierarchy of needs organizes human motivations into five levels
• Physiological needs form the base (food, water, shelter)
• Safety needs follow (security, stability, health)
• Love and belonging needs include relationships and social connections
• Esteem needs involve self-respect, recognition, and status
• Self-actualization tops the hierarchy (personal growth, fulfillment)

Perception and Biases

Sensory Processing and Interpretation

• Perception involves selecting, organizing, and interpreting sensory information
• Selective attention filters relevant stimuli from the environment
• Selective distortion alters information to fit existing beliefs or expectations
• Selective retention preserves information that supports attitudes and beliefs
• Subliminal perception processes stimuli below conscious awareness
• Perceptual thresholds determine the minimum level of stimulation for detection
• Just noticeable difference (JND) measures the smallest change in stimuli that can be detected

Cognitive Shortcuts and Risk Assessment

• Cognitive biases serve as mental shortcuts in decision-making processes
• Confirmation bias leads to seeking information that supports existing beliefs
• Anchoring bias causes reliance on initial information when making decisions
• Availability heuristic judges probability based on easily recalled information
• Framing effect influences decisions based on how information is presented
• Risk perception evaluates potential threats or dangers in consumer choices
• Perceived risk varies across product categories and individual consumers
• Financial risk relates to potential monetary losses
• Performance risk concerns product functionality and reliability
• Social risk involves potential damage to social status or relationships
• Physical risk pertains to safety and health concerns

Personality and Self-Concept

Individual Traits and Characteristics

• Personality encompasses consistent patterns of behavior, cognition, and emotion
• Big Five personality traits provide a framework for understanding individual differences
• Openness to experience reflects curiosity and willingness to try new things
• Conscientiousness involves organization, dependability, and goal-oriented behavior
• Extraversion relates to sociability, assertiveness, and energy levels
• Agreeableness encompasses traits like empathy, cooperation, and trust
• Neuroticism refers to emotional stability and tendency to experience negative emotions
• Brand personality attributes human characteristics to products or companies
• Consumers often choose brands that align with their own personality traits

Self-Perception and Identity

• Self-concept represents an individual's beliefs about their own attributes and qualities
• Actual self reflects how a person currently perceives themselves
• Ideal self represents the attributes a person aspires to possess
• Social self encompasses how an individual believes others perceive them
• Self-esteem influences consumer behavior and brand preferences
• Self-congruity theory suggests consumers prefer brands that match their self-concept
• Extended self includes possessions that contribute to one's identity
• Symbolic consumption uses products to express or reinforce self-identity
• Self-monitoring reflects the degree to which individuals adjust their behavior to social situations
• High self-monitors adapt their behavior more readily to different social contexts
• Low self-monitors maintain consistent behavior across various situations