Consumer Psychology: Characteristics And Theoretical Models

The confluence of the industrialization process and the development of science generated the emergence of disciplines dedicated to analyzing the market and consumption. One is consumer psychology or behavioral economics, a discipline that studies cognitive and emotional trends in order to understand how they influence the market.

This field of psychology investigates how we make decisions regarding the purchase of a product,  which factors intervene in the desire to buy and the reasons that determine purchase behavior. Next, we will analyze the main psychological variables of the consumer, as well as the environmental factors that influence them.

How to understand the consumer?

Consumer psychology deals with the emergence of purchasing needs and related psychological and environmental factors. Based on this discipline, it is also possible to devise a series of strategies aimed at the commercial offer of a consumer good.

The main aspects in the analysis of consumer behavior are as follows:

• Personal Aspects. It’s the characteristics that differentiate us from each other and make us unique. Consumer psychology takes into account the diversity that may exist in each analyzed consumer group.

• Cognitive components. These are the ideas and thoughts through which we operate. Consumer psychology studies how we process information and how we make decisions regarding consumption.
• Behavioral elements. Consumer behavior is studied to be able to delineate a brand’s approach to potential buyers.
• Social aspects. Psychologists in this field investigate sociological guidelines for finding marketing strategies  based on understanding certain behaviors.
• Emotional aspects. They are analyzed to determine what feelings a product generates or should generate.

These principles, in general and together, define the foundation on which consumer psychology works. This basis is common for any product or service that one intends to market, be it an object or something that is not tangible – such as insurance. This discipline can even help to promote commercial strategies to improve the quality of life.

Influencing factors in consumer psychology

Consumer psychology analyzes consumer behavior taking into account the context of the group in which the person develops. In this way, it defines different types of groups depending on the type of influence it exerts on the consumer:

• Primary group. In this group, the family and the closest environment in which each person grows are taken into account. It is the primary group because it is in this group that we learn our first buying habits and ways to choose.
• Secondary group. Here are included friends, co-workers, partners and institutions that were part of our lives at some point.
• Tertiary group. This group includes the media, social leaders, YouTubers , influencers, etc. In short, all those influencing factors with which there was no physical proximity or which can be essentially abstract.

Thus, the family defines the individual’s consumption patterns insofar as it is through their orientations and beliefs that we initially learn how to behave in the act of consuming, whether we are more or less aware of it.

On the other hand, the secondary group also has a certain effect on us that affects our behavior as consumers, especially with regard to the assimilation of the norm. Finally, the tertiary group exerts a determining influence, as it usually dictates trends the most, such as athletes, singers, etc.

Other factors that influence consumer behavior

Groups are not the only factors that affect us. There are other sources of influence that consumer psychology takes into account:

• Culture. Factors such as traditions can generate behavior patterns related to our consumption needs.
• Status. Considering that, as social beings, we try to fit into a group to which we belong or want to belong, it is common to adopt its behavioral dynamics of consumption.
• Emotions. We show definite psychophysiological reactions to certain situations. This is studied by this discipline to clarify which emotions are related to purchasing products.

Taking all of the above factors into account, consumer psychology can not only determine people’s consumption needs and how to influence them, but also create specific consumer profiles and thereby help commercial brands.

Models used in consumer psychology

Consumer psychology specializes in aspects belonging to different areas, such as marketing , economics and sociology. We’ll show you some of the explanatory models used:

• Field theory. It suggests that consumption depends on the environment in which the person is at the time of purchase.
• Learning model. The components of the purchase would be: impulses, stimuli and reactions; these elements are those that intervene when a person buys something.
• Model based on psychoanalysis. It defends that we buy according to our morals, instincts and conscious and unconscious aspects.
• Sociological field. It suggests that we buy according to our culture and groups to which we belong.
• Economic theory. It maintains that we buy what is most profitable and that we value the benefit that the purchase will bring with it.

We must not forget that our purchasing decisions also depend on the needs we have at each moment. Thus, each one can prioritize according to their conditions and desires at the time of purchase, although in many cases this is done based on needs generated in us by economic interest.

Theories that could explain consumer behavior are manifold, but they generally support the existence of many influencing factors, and they also support the notion that shopping can sometimes occur unconsciously.

As we can see, consumer psychology is, in short, a science that tries to describe and explain our needs based on our behaviors, emotions, thoughts and our context.

Knowing consumer behavior, as is well known in the commercial environment, is extremely useful for positioning a brand. Many agencies already have specialist psychologists available to help you with your observations and theories.