PSYCHOLOGICAL CHARACTERISTICS OF CONSUMER BEHAVIOR

Abstract

  ABSTRACT

  This article presents the analyses of the theoretical foundations of the study of consumer behavior: reference was made to the economic, marketing and psychological approaches. The essence of consumer behavior, psychological features and mechanisms are discussed. The psychological causality of consumer preference and choice is revealed, particularly, the study of positions, motives and needs is of significant importance. In the psychological analysis of the consumer behavior the influence of both psychological and socio-cultural factors is highly important.

Today consumers are quite well-informed and they know well what they want. Therefore, marketers should be very careful and prudent when developing a marketing strategy and presenting their brand to the consumers. It can be said that the creation of the best brand depends on to what extent the marketer is familiar with the psychology of consumers. The marketing tricks, such as advertisements, posters, billboards, celebrity endorsements, display, which are used by marketers to present their new products to a wide range of consumers, to attract consumers and buyers, are almost the same and they are used by numerous organizations, manufacturers and marketers. However, successful are those, who can be more informed about the consumers' psychology and the psychological mechanisms of consumer choice.