Psychological Factors Affecting
Consumer Behaviour
Presented by: Keshav Kumar
Mayank Kumar
Prateek Rai
Intro
Consumer psychology examines consumers perceptions,
beliefs, feelings and thoughts and considers all of them
when examining purchasing behavior. It also accounts for
social persuasion and motivation from third parties to
purchasing decisions, such as commercials or advertising.
Factors affecting
consumer psychology
01.
Motivation
02.
Perception
03
Learning
04
Attitude
Consumers make purchase decisions every day. When
they make a decision about your product, they’re
thinking about solving a need. That need may be
driven by a variety of factors.
Let's Play a Quiz Game
Firstly you have to raise your hand and then we will ask you to answer the question otherwise you will be disqualified from the
game and the question will also be disqualified.
Q1
What psychological factor plays a
significant role in influencing consumers'
perception and preferences?
A: Social class
B: Culture
C: Motivation
D: Reference groups
What psychological factor plays a
significant role in influencing consumers'
perception and preferences?
A: Social class
B:
C:
D:
Motivation
Culture
Reference groups
Q2
Which psychological factor is related to an
individual's need for self-esteem,
recognition, and a sense of belonging?
A: Motivation
B: Personality
C: Social influence
Maslow's hierarchy of
D:
needs
which psychological factor is related to an
individual's need for self-esteem,
recognition, and a sense of belonging?
A: Motivation
B: Personality
C: Social influence
Maslow's hierarchy of
D:
needs
Q3
When consumers make purchasing decisions based on their
previous experiences and the positive feelings associated
with a particular brand, which psychological factor is at play?
A: Attitude
B: Perception
C: Memory
D: Learning
When consumers make purchasing decisions based on their
previous experiences and the positive feelings associated
with a particular brand, which psychological factor is at play?
A: Attitude
B: Perception
C: Memory
D: Learning
Q4
Which psychological factor involves the way
?
individuals prioritize and make choices based
on the perceived value of different options?
A: Motivation
B: Attitude
C: Perception
D: Decision-making
Which psychological factor involves the way
?
individuals prioritize and make choices based
on the perceived value of different options?
A: Motivation
B: Attitude
C: Perception
D: Decision-making
Q5
What psychological principle suggests that individuals
are more likely to remember information at the
beginning and end of a list, rather than in the middle?
A: Primacy effect
B: Recency effect
C: Serial position effect
D: Anchoring effect
What psychological principle suggests that individuals are
more likely to remember information at the beginning and
end of a list, rather than in the middle?
A: Primacy effect
B: Recency effect
C: Serial position effect
D: Anchoring effect
Q6
Which psychological factor plays a crucial role
in consumer decision-making by influencing
how individuals perceive information?
A:
Social influence
B: Motivation
C:
Perception
D:
Learning
Which psychological factor plays a crucial role in
consumer decision-making by influencing how
individuals perceive information?
A:
Social influence
C: Perception
B: Motivation
D: Learning
Q7
Which of the following factor affecting
consumer behavior related to brand
perception?
A:
Motivation
B: Lifestyle
C:
Brand image
D:
Attitude
Which of the following factor affecting
consumer behavior related to brand
perception?
A:
Motivation
C: Brand image
B: Lifestyle
D: Attitude
Q8
What psychological factor involves an individual's
desire to attain a higher social status through the
consumption of certain products?
A: Motivation
B: Perception
C: Self-esteem
D:
Social influence
What psychological factor involves an individual's
desire to attain a higher social status through the
consumption of certain products?
A: Motivation
B: Perception
C: Self-esteem
D: Social influence
Q9
Which psychological factor involves the
family, roles, and status within a group?
A: Motivation
B: Personality
C: Lifestyle
D: Social class
Which psychological factor involves the
family, roles, and status within a group?
A: Motivation
B: Personality
C: Lifestyle
D: Social class
Q10
The process of selecting, organizing, and
interpreting information to create a meaningful
picture of the world is influenced by:
A: Motivation
B: Perception
C: Learning
D: Attitude
The process of selecting, organizing, and
interpreting information to create a meaningful
picture of the world is influenced by:
A: Motivation
B: Perception
C: Learning
D: Attitude
CASE STUDY
• The caselet, Haldiram's: The No: 1 Choice of Consumers, explains how Haldiram's, which markets snack
products in India, became the primary choice among Indian consumers. Haldiram's came out with different
products which suited the tastes of various ethnic and geographical groups. The caselet deals with how the
company used the 4Ps effectively to influence consumer decision making.
Issues:
» Ways in which a company can influence consumer decision making
» Importance of the pricing strategy in the ready-to-eat snack market in India
» The need to offer products which suit the tastes of a heterogeneous group
Haldiram's, a household name in ready-to-eat snack foods in India, offered a wide range of products to its
customers. The product range included namkeens (savories), sweets, sharbats, bakery items, dairy products,
papads, and ice-creams.
• Namkeens remained the main focus area for the group. By specializing in the manufacture of namkeens, the
company created a niche market. Haldiram's sought to customize its products to suit the tastes and preferences
of customers from different parts of India. For example, it launched 'Murukku,' a South Indian snack, and
'Chennai Mixture' for south Indian customers...
• Questions for Discussion:
1. What were the ways in which Haldiram's influenced the decision making of the consumers?
2. What were the marketing strategies followed by Haldiram's to ensure that its products became the No 1
choice among the consumers?
Thank you
very much!