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¶ … consumer behavior models: decision making model, Maslow's hierarchy, Freudian Theory, Non- Freudian theory, Trait theory, learning process.
Reflect individually on how your understanding and interpretation of the consumer decision-making process might influence your thinking when applying marketing principles in future business roles.
According to Maslow's hierarchy of needs, all human beings are driven to fulfill certain needs and desires, but some needs are perceived as having priority over other needs. Until basic needs such as food and shelter are met, the individual cannot think about higher-level needs like social approval and self-actualization (Simmons et al. 1997). When consumers are making choices about what to buy and what not to buy, Maslow's hierarchy often seems to be operating in a clear and logical fashion. During a recession, most consumers cut back on luxury items designed to impress others, like restaurant meals and name-brand clothing. Consumers who are struggling with their budget are more apt to be attracted by the low price tag of a product, while a wealthier customer is still more attracted by the...
Decision-making models assume that consumers rationally consider their options, their budget, their personal priorities, and make decisions based upon the available data. However, in direct contradiction to rationalistic decision-making models, consumers apparently make irrational choices all of the time. They take out mortgages they cannot afford, buy unhealthy fast food because it is cheap even though it causes expensive health complaints later on, and may buy costly products simply because they like the commercial.
Clearly, subconscious elements also affect buying decisions, although practical limitations such as price will also have an impact upon consumer behavior. Sigmund Freud's theory of the subconscious and the fact that apparently irrational behaviors can be explained by unconscious motivations can be seen when an older man buys a small, impractical sports car in the hopes of reclaiming his lost youth or a woman buys a weight loss product despite having…
References
Oxoby, Robert J. (2004, October). Cognitive dissonance, status and growth of the underclass
The Economic Journal, 114: 727 -- 749. Retrieved March 24, 2011 at http://people.ucalgary.ca/~oxoby/Oxoby%20EJ.pdf
Simons, Janet A., Donald B. Irwin and Beverly A. Drinnien. (1987). Maslow's hierarchy of needs. Psychology: The search for understanding. West Publishing Company, New York, 1987. Excerpt retrieved March 24, 2011 at http://honolulu.hawaii.edu/intranet/committees/FacDevCom/guidebk/teachtip/maslow.htm
Consumer Behavior - Analysis of Coca-Cola Consumer Behavior - Analysis of a Product or Service The objectives of this report are to discuss what consumer behavior is, why consumer behavior is vital, and how consumer behavior is influenced by the needs, goals, and motivations of the consumer. The purchase and use of a product by the Coca-Cola Company will provide support for this report. The consumer behavior of consumers of soft drinks
Consumer Behavior Models: Decision making model, Maslow's hierarchy of needs, Freudian Theory, Non- Freudian theory, trait theory, learning process models Do consumers mainly use logical or emotional thinking when making decisions? This is the essential problem with which all marketers must grapple. Some models of consumer behavior, such as the seven-step decision model, suggest that consumers make decisions very logically, carefully weighing the pros and cons. Others suggest that when consumers
Consumer Behavior Consumer Needs and Marketing Efforts Consumer Needs A need is defined as "a state of felt deprivation in a person" (Kotler, Chandler, Gibbs, & McColl 1999, p. 4). The most basic human needs are those for food, clothing, warmth, and safety. There are also needs that are more psychological, such as the need to feel loved, to feel successful, or to feel a sense of belonging. A more thorough explanation of
Support for global phones Medium to High. Social events are pervasive during skiing season Medium to High; on Tours there is much planned out and taken care of; a chance to enjoy the sites and visit historic places High for shopaholics; boring for anyone who doesn't enjoy this type of activity Cost From $2,000 to over $10,000 per person Less than $100 for camping out in a tent to over $2,000 for a cabin rental From
Decision Making Ethics is a philosophical term derived from the Greek word "ethos," meaning character or custom (Sims, 1994, p. 16). Ethics, therefore, is not just an ethereal concept belonging to the domain of philosophers and theologists, but a universal phenomenon that pervades the very functioning of individuals and society. Indeed, ethics can be said to be the guiding set of principles, based on which individual character, social and organizational custom
As it has been mentioned throughout the previous sections, the literature review represents the research conducted through secondary sources. The information is divided into six distinct sub-sections as follows: 2.1. Consumer behaviour 2.2. Maslow's hierarchy of needs 2.3. The product brand 2.4. Elements in the coffee purchase decision 2.5. The coffee industry and the coffee market in Thailand 2.6. The ability of advertising and marketing to stimulate coffee purchase 2.1. Consumer behaviour Customer behaviour can be understood