Title: How To Understand Consumer Behaviour And Influence Choices
Headings: How To Understand Consumer Behaviour And Influence Choices
How To Understand Consumer Behaviour And Influence Choices
How To Understand Consumer Behaviour
What is Consumer Behaviour?
A History of Consumer Behaviour
The Cognitive Revolution
Nudge Marketing and Choice Architecture
Four Key Concepts Within Consumer Behaviour
1. The Purchase Process
2. Consumer Styles and Segmentation
3. Adopting New Trends – The Diffusion Model
From Everett Rogers’ The Diffusion of Innovations
4. Biases, Heuristics and Consumer Persuasion
4 Ways To Be More Persuasive To Consumers
1. Design Your Website For Biased Consumers
2. Optimise Your Pricing For Consumer Behaviour
3. Build Your Campaigns Around The Purchase Process
4. Make Your Customers Feel Like Part of the “Early Majority”
The Consumer Behaviour Library
Classic Books
Classic Articles
by Stephen Courtney
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Content: They tell us which option feels right, but are subject to clear biases. Availability Bias occurs when a situation feels more likely because it is more easily brought to mind
Having been launched in 1964, the Journal of Marketing Research began to regularly publish articles based on the new psychological approach to marketing. Nudge Marketing and Choice Architecture
In a series of articles published in the Journal of Economic Perspectives between 1987 and 2006, Professor Richard Thaler highlighted what he called “Anomalies” in almost every aspect of consumer decision-making…
Stock prices rise in January
People reject beneficial deals that they consider unfair
They also overvalue what they already own. However, it was the 2008 publication of Nudge that brought his work to public attention. His model of consumer decision making, built around “Choice Architecture”, has influenced marketing, psychology and even public policy. Marketing, particularly for eCommerce platforms, has been heavily influenced by Nudge theory. For instance, many websites now use subtle “Nudges” to encourage people to buy things. This practice, perfected by companies like Amazon and Booking.com is called Nudge Marketing. The influence of Thaler’s ideas, as well as his work to make sure Nudges are used constructively, is why the 2017 Nobel Prize for Economics was given to such an unusual candidate. Four Key Concepts Within Consumer Behaviour
Whilst Consumer Behaviour can sometimes focus on the purchase decision, it also includes other aspects of the consumer journey.