Consumer Psychology Bard Notes

consumer psychology Bard
Notes
Logos and their impact:
The video uses the examples of Amazon and FedEx logos to illustrate how
logo design can influence consumer perception.
A well-designed logo can convey a clear message about the company and
its products, while a poorly designed logo can be confusing or even off-
putting.
Pricing strategies:
The video discusses how seemingly small changes in pricing can have a
significant impact on consumer behavior.
For example, offering a product for $84 per month instead of $1000 per year
can make it seem more affordable, even though the total cost is the same.
The power of suggestion:
The video highlights how framing a question or request can influence the
way people respond.
For example, asking "Will you donate to charity?" is likely to get a negative
response, while asking "Will you donate to charity, and each penny you
donate will count?" is more likely to get a positive response.
Psychological factors influencing consumer behavior:
The video introduces the concept of consumer psychology and how various
psychological factors can influence consumer decisions.
These factors include things like

memory, learning, motivation, mood, involvement, attitude, perception, and
communication.
Course content:
The video provides an overview of the course content, which will cover topics
such as consumer behavior basics, psychological factors shaping consumer
decisions, and individual differences in consumer behavior.
consumer psychology Bard Notes 1

The course will also discuss how these psychological factors can be used to
create a better consumer experience and a more well-suited marketplace.
Overall, this video provides a valuable introduction to the field of consumer

psychology and highlights the importance of understanding how
psychological factors influence consumer behavior
I. Introduction
A. What is consumer behavior?
Definition: The study of how consumers behave in the market and make
purchase decisions.
Two viewpoints:
a. Marketer's viewpoint: Focuses on factors like product

placement, target market, and product features.
b. Consumer's viewpoint: Focuses on the psychology of the consumer

and how they make decisions.
B. Importance of studying consumer behavior
Helps marketers develop products and marketing strategies that meet

consumer needs.
Helps consumers make informed purchase decisions.
II. The consumer decision-making process
A. Stages in the decision-making process
Problem recognition: Identifying a need or want.
Information search: Gathering information about products and services.
Evaluation of alternatives: Comparing different options.
Purchase decision: Choosing a product or service.
Post-purchase evaluation: Evaluating the purchase decision.
B. Factors influencing the decision-making process
Personal factors: Age, income, education, lifestyle, etc.
Psychological factors: Motivation, perception, learning, attitudes, etc.
Social factors: Culture, family, reference groups, social class, etc.

Situational factors: Time pressure, purchase occasion, physical
surroundings, etc.
III. Market segmentation
A. Definition: Dividing a market into smaller groups of consumers with similar

needs and wants.
B. Benefits of market segmentation
Allows marketers to develop targeted marketing campaigns.
Helps to allocate marketing resources more efficiently.
Can lead to increased sales and profits.
C. Types of market segmentation
Demographic segmentation: Dividing the market based on factors such as

age, gender, income, and education.
Geographic segmentation: Dividing the market based on geographic

location.
Psychographic segmentation: Dividing the market based on

lifestyle, personality, and values.
Behavioral segmentation: Dividing the market based on purchase

behavior, usage patterns, and brand loyalty.
IV. Conclusion
Consumer behavior is a complex field of study, but it is essential for

understanding how consumers make decisions.
By studying consumer behavior, marketers can develop products and marketing

strategies that are more likely to be successful.
Consumers can also benefit from studying consumer behavior by making more
informed purchase decisions.
Additional notes:
The video also discusses the concept of consumer benefits, which are the
advantages that consumers expect to receive from a product or service.
There are two types of consumer benefits: core benefits and accessory benefits.
Core benefits are the essential benefits that a product or service provides.

Accessory benefits are the additional benefits that a product or service provides.
Marketers need to understand both core and accessory benefits in order to

develop products and marketing strategies that meet consumer needs.
I. Introduction
This is the second lecture in the series of introducing consumer behavior.
The first two lectures covered the basics of consumer behavior, including:
What is consumer behavior?
What are the main ingredients of consumer behavior?
What are the different types of consumers (shoppers, buyers, consumers)?
How do consumers make purchase decisions?
What is market segmentation and why is it important?
How is market segmentation done?
What are the different segmentation strategies?
II. Consumer Decision Making Process
This lecture focuses on how consumers make decisions about which products to
buy.
There are several models that explain this process, but one common theory is
the Engel-Kollat-Blackwell (EKB) theory.
The EKB theory outlines five stages of the consumer decision making process:
1. Problem recognition: The consumer recognizes a need or want that can be

satisfied by a product.
2. Information search: The consumer gathers information about different

products that could satisfy their need or want.
3. Evaluation of alternatives: The consumer evaluates the different products

and chooses the one that best meets their needs.
4. Purchase decision: The consumer decides whether or not to buy the

chosen product.
5. Post-purchase evaluation: The consumer evaluates their satisfaction with

the product after they have purchased it.
III. Methods of Research in Consumer Behavior

There are several methods that can be used to research consumer
behavior, including:
Observational research: Observing consumers in their natural environment

to see how they behave.
Surveys: Asking consumers questions about their attitudes, beliefs, and

behaviors.
Interviews: Conducting in-depth interviews with consumers to learn more

about their motivations and decision-making processes.
Focus groups: Bringing together a group of consumers to discuss a

particular topic.
Experiments: Testing the effects of different marketing variables on

consumer behavior.
IV. Conclusion
This lecture provides an overview of the consumer decision making process and
the different methods that can be used to research consumer behavior.
In the next lecture, we will look at the consumer decision process in more detail.
Additional notes:
The video also discusses the importance of understanding individual differences

in consumer behavior.
Consumers are not all the same, and their decision-making processes can be
influenced by a variety of factors, such as their personality, values, and lifestyle.
Marketers need to take these individual differences into account when

developing their marketing strategies.
Lecture 3: Problem Recognition - I
Consumer Decision Process:
Step 1: Problem Recognition
Factors influencing problem recognition:
Situational factors:
Out-of-stock product
Unexpected event

Marketing activities
Consumer factors:
Needs and motives
Values and lifestyle
Knowledge and experience
Market factors:
Product availability
Marketing communications
Economic conditions
Types of problem recognition:
Need recognition: Recognizing a discrepancy between actual and

desired state.
Opportunity recognition: Recognizing a new opportunity to improve

one's situation.
Step 2: Information Search
Types of information search:
Directed search: Seeking specific information about a particular

product.
Browsing: Exploring a variety of products without a specific goal in

mind.
Accidental search: Unintentionally encountering information about a

product.
Sources of information:
Personal sources (friends, family)
Commercial sources (advertising, salespeople)
Public sources (consumer reports, online reviews)
Experiential sources (using the product)
Factors influencing information search:
Consumer characteristics (knowledge, experience, motivation)

Product characteristics (complexity, risk)
Situational factors (time pressure, social influence)
Additional notes:
The consumer decision process is a model that describes how consumers make
decisions about purchasing products.
Problem recognition and information search are the first two steps in the
consumer decision process.
Consumers are influenced by a variety of factors when making decisions about

purchasing products.
Marketers can use their understanding of the consumer decision process to

develop more effective marketing strategies.
. Introduction
This lecture is the fourth in a series on consumer psychology.
It focuses on the second part of the EKB model: information search.
The previous lecture discussed how consumers recognize needs.
This lecture will explore how consumers search for information about products.
II. Types of Information Search
Pre-purchase search: Consumers gather information about products before

buying them.
Directed information search: Consumers have a specific product in mind

and seek information about its features and benefits.
Browsing: Consumers explore products without a specific goal in mind.
External search: Consumers gather information from sources outside their

memory.
Independent sources: Friends, relatives, consumer reviews, etc.
Market-controlled sources: Salespeople, advertising, product

packaging, etc.
III. Factors Influencing Information Search
Consumer factors:

Satisfaction with past experience: Satisfied consumers are less likely to
search for information.
Time since last purchase: Consumers who haven't bought a product in a

while are more likely to search for information.
Knowledge about the product category: Consumers with more knowledge

are less likely to search for information.
Motivation to search: Consumers who are highly motivated to find the best
product are more likely to search for information.
Situational factors:
Time pressure: Consumers with limited time are less likely to search for
information.
Cost of search: Consumers are less likely to search for information if it is

expensive or time-consuming.
Availability of information: Consumers are more likely to search for

information if it is readily available.
Product factors:
Complexity of the product: Consumers are more likely to search for

information about complex products.
Perceived risk: Consumers are more likely to search for information about
products that they perceive as risky.
Number of alternatives: Consumers are more likely to search for

information when there are many alternatives available.
Purchase situation factors:
Importance of the purchase: Consumers are more likely to search for

information about important purchases.
Social visibility of the product: Consumers are more likely to search for
information about products that are visible to others.
IV. Information Sources
Independent sources:
Friends and relatives
Consumer reviews

Product reviews in magazines and newspapers
Market-controlled sources:
Salespeople
Advertising
In-store displays
Product packaging
V. Conclusion
The amount of information search that a consumer does depends on a variety of

factors.
Understanding these factors can help marketers develop more effective

marketing strategies.
LEC 5- NO NOTES
Lecture 6: Alternate Evaluation - II
Consumer Decision Rules:
Non-compensatory decision rule:
Weaknesses of alternatives are not offset by strengths.
Example: Choosing a product based on a single criterion, like price.
Compensatory decision rule:
Strengths of alternatives can offset weaknesses.
Example: Choosing a product based on a weighted average of multiple

criteria, like price, features, and brand.
Decision Making Processes:
Simple additive weighting:
Each criterion is assigned a weight based on its importance.

The score for each alternative is calculated by summing the weighted scores
for each criterion.
The alternative with the highest score is chosen.
Weighted average:
Similar to simple additive weighting, but the weights are normalized to sum
to 1.
Consumer Purchase Types:
Planned purchases:
Purchases made with prior thought and consideration.
Consumers are more likely to use compensatory decision rules for planned
purchases.
Unplanned purchases:
Purchases made on impulse or without prior planning.
Consumers are more likely to use non-compensatory decision rules for

unplanned purchases.
Factors Influencing Unplanned Purchases:
Novelty: Seeing a new product for the first time.
Reminder: Being reminded of a product that needs to be replaced.
Suggestion: Seeing a product that suggests a new need.
In-store factors:
Price reductions
Coupons
Multiple item discounts
Packaging
In-store demonstrations
Free samples
Store atmosphere
Store layout
Merchandising

Salespeople
Lec 7 no notes
Lecture 8: Post Purchase and Consumption - I
Introduction:
This lecture covers post-purchase behavior, focusing on consumption and its

relation to satisfaction and dissatisfaction.
It defines the consumption process and explores two key

outputs: satisfaction and dissatisfaction.
Consumption Process:
Definition: Consumption is the process of using a product or service after

purchase.
Factors affecting consumption:
Lifestyle: Consumption patterns change with lifestyle changes

(e.g., school vs. work).
Culture: Different cultures have different consumption norms and

expectations.
Consumption situation: The physical and social context in which a

product is used.
Consumption episode: A set of related products used in a specific

context (e.g., a dinner).
Marketer influence: Marketers can influence consumption by understanding

these factors and tailoring their strategies accordingly.
Consumption Situations:
Components:
Physical factors: The environment in which the product is used.
Social factors: The people present and their influence on consumption.

Temporal factors: The timing and sequence of consumption.
Examples:
A dinner: Soup, main course, dessert, etc., consumed in a specific order

with others.
A vacation: Different products and services used throughout the trip.
Consumption Episodes:
Definition: A set of related products used in a specific context.
Examples:
A dinner: Soup, main course, dessert, etc., consumed in a specific order

with others.
A vacation: Different products and services used throughout the trip.
Marketer Influence on Consumption Episodes:
Marketers can influence consumption episodes by:
Understanding the factors that influence them.
Developing products and services that cater to specific

consumption episodes.
Creating marketing campaigns that target specific consumption

episodes.
Types of Consumption:
Functional consumption: Consumption driven by the need for a product's

functionality.
Experiential consumption: Consumption driven by the desire for a positive

experience.
Compulsive consumption: Uncontrollable urge to buy and use

products, often to satisfy emotional needs.
Satisfaction and Dissatisfaction:
Definition of satisfaction: An emotional response to a product that meets

or exceeds expectations.
Components of satisfaction:
Cognitive: Thoughts and beliefs about the product.

Affective: Feelings and emotions associated with the product.
Behavioral: Actions taken based on satisfaction (e.g., repeat purchase).
Focus: Satisfaction can be directed at the product itself, its

consumption, purchase process, etc.
Timing: Satisfaction can occur before, during, or after consumption.
Definition of dissatisfaction: An emotional response to a product that falls

short of expectations.
Consequences of dissatisfaction:
Negative word-of-mouth.
Reduced purchase intention.
Brand switching.
Marketer Strategies for Increasing Satisfaction:
Match product benefits to consumer needs.
Provide clear product information and communication.
Offer excellent customer service.
Create a positive brand image.
Conclusion:
This lecture provided an overview of post-purchase behavior, focusing on

consumption and its relation to satisfaction and dissatisfaction.
Understanding these concepts is crucial for marketers to develop effective

strategies for influencing consumer behavior.
Lecture 9: Post Purchase and Consumption - II
Consumer Decision Process
Need Arousal:
Recognizing a need or problem.
Factors influencing need arousal:
Internal factors: Hunger, thirst, boredom.
External factors: Marketing stimuli, social influence.

Information Search:
Gathering information about products that can satisfy the need.
Types of information search:
Internal search: Memory, past experiences.
External search: Friends, family, internet, advertising.
Alternative Evaluation:
Comparing different products based on their attributes.
Determinant attributes: Features that are important to the consumer.
Models of alternative evaluation:
Compensatory models: Trade-offs between attributes.
Non-compensatory models: Minimum acceptable level for each

attribute.
Heuristic models: Simple rules of thumb.
Choice:
Selecting the product that best meets the need.
Factors influencing choice:
Product attributes.
Price.
Brand.
Availability.
Promotions.
Purchase:
Buying the chosen product.
Factors influencing purchase:
Outlet choice.
Payment method.
Delivery options.
Post-Purchase Evaluation:

Evaluating the product after purchase.
Outcomes:
Satisfaction: Positive feelings about the product.
Dissatisfaction: Negative feelings about the product.
Cognitive dissonance: Mental discomfort caused by conflicting

information.
Strategies for reducing cognitive dissonance:
Justifying the purchase.
Seeking information that supports the purchase.
Disparaging alternatives.
Post-Purchase Behavior
Brand Loyalty:
A commitment to a particular brand.
Factors influencing brand loyalty:
Number of brands available.
Frequency of purchase.
Perceived differences among brands.
Level of involvement with the product.
Level of perceived risk.
Positive Word-of-Mouth:
Spreading positive information about a product to others.
Factors influencing positive word-of-mouth:
Consumer satisfaction.
Product involvement.
Social influence.
Product Disposal:
Getting rid of a product after it is no longer needed.
Methods of product disposal:

Repair.
Recycling.
Throwing away.
Role of marketers in product disposal:
Design for disassembly.
Take-back programs.
Green marketing.
Next Steps
Lecture 10: Perception
Consumer factors:
Perception
Attitudes
Memory
Learning
Motivation
Personality
Lifestyle
Social class
Culture
Lecture Summary:
This lecture focuses on consumer perception and cognition, exploring how

consumers process and interpret information about products and services.
Key Points:
Sensation vs. Perception:
Sensation: The process of taking in stimuli from the external world

through our senses.
Perception: The process of interpreting and assigning meaning to

the stimuli we sense.

Stimulus Features:
Consumers perceive products based on various features, including:
Physical features: Color, shape, taste, smell, etc.
Abstract features: Brand image, price, quality, etc.
Subliminal Perception:
Consumers can perceive stimuli below their conscious

awareness, which can influence their behavior.
Adaptation Level:
Consumers adapt to repeated stimuli, eventually ignoring them.
Stimulus Discrimination:
Consumers distinguish between similar products based on subtle

differences.
Stimulus Generalization:
Consumers apply their knowledge of one product to similar products.
Categorization Methods:
Consumers categorize products based on:
Prototype: Matching the product to an existing mental

representation.
Exemplar: Comparing the product to a specific example.
Attribute-based: Analyzing the product's features.
Attribution:
Consumers attribute the performance of a product to specific

features or external factors.
Internal locus of control: Consumers believe they have control over

the product's performance.
External locus of control: Consumers believe external factors

influence the product's performance.
Product and Service Perception:
Consumers draw inferences about products and services based on

their features and performance.

These inferences influence their purchase decisions and brand
loyalty
lec 11 no notes
Lecture 12: Memory and Learning - I
Introduction
This lecture focuses on memory and learning and their role in

consumer behavior.
Understanding memory is crucial for both consumers and marketers.
Consumers use memory to store and retrieve information about

products, which influences their decision-making.
Marketers need to understand memory to create effective

advertising messages that are remembered by consumers.
Importance of Memory in Consumer Behavior
Memory is the single most influential factor in how consumers

respond to marketing information.
Consumers rely on their memory of past experiences with products

to make decisions about future purchases.
This memory can be positive or negative, and it can be influenced by

a variety of factors, such as advertising, word-of-mouth, and
personal experiences.
Factors Affecting Memory
Organization: Information is stored in memory in two main ways:
Episodic memory: Stores specific events and experiences.
Semantic memory: Stores general knowledge and facts.
Repetition: The more often information is repeated, the more likely it

is to be remembered.

Relevance: Information that is relevant to the consumer's needs and
interests is more likely to be remembered.
Completeness: Information that is complete and easy to understand

is more likely to be remembered.
Time: Information is forgotten over time, but the rate of forgetting

slows down over time.
Memory Reconstruction
Marketers can use advertising to reconstruct consumers' memories

of past experiences.
This can be done by presenting new information that is inconsistent

with the consumer's original memory.
Over time, the consumer may come to believe the new information
and forget the original memory.
Conclusion
Memory plays a critical role in consumer behavior.
By understanding how memory works, marketers can create more

effective advertising messages that are remembered by consumers.
Lecture 13: Memory and Learning - II
Introduction
This lecture is part of the course on Consumer Psychology.
It focuses on how psychological factors affect consumer behavior.
This lecture specifically focuses on learning and how it affects both

consumers and marketers.
Learning
Definition: Learning is a relatively permanent change in behavior

caused by experience.
Types of learning:
Non-associative learning:
Habituation: Decrease in behavior for a repeated stimulus.
Sensitization: Increase in behavior for an intense stimulus.

Associative learning:
Classical conditioning: Learning through association of a

neutral stimulus with an unconditioned stimulus.
Operant conditioning: Learning through reinforcement or

punishment of behavior.
Observational learning: Learning through observing the

behavior of others.
Cognitive learning: Learning through mental processes such

as encoding, storing, and retrieving information.
The role of learning in consumer behavior
Consumers learn about products and services through various

experiences and information sources.
This learning can lead to the development of habits, brand

loyalty, and other behaviors.
Marketers can use learning principles to influence consumer

behavior through advertising, packaging, and other marketing
activities.
Theories of learning
Classical conditioning:
Consumers learn to associate certain stimuli with products or

services.
Marketers can use classical conditioning to create positive

associations with their brands.
Operant conditioning:
Consumers learn to repeat behaviors that are rewarded and

avoid behaviors that are punished.
Marketers can use operant conditioning to encourage desired

consumer behaviors.
Observational learning:
Consumers learn by observing the behavior of others.

Marketers can use observational learning to promote their
products or services by featuring them in advertisements or
other media.
Cognitive learning:
Consumers learn by encoding, storing, and retrieving

information.
Marketers can use cognitive learning principles to create

informative and memorable marketing messages.
Factors influencing learning
Familiarity: Consumers are less likely to be influenced by new

information if they are already familiar with a product or service.
Experience: Consumers learn more quickly from clear and

unambiguous experiences.
Information in the marketplace: When consumers have little

experience with a product or service, they are more likely to rely on
information from the marketplace.
Conclusion
Learning plays a significant role in consumer behavior.
Marketers can use various learning principles to influence consumer

behavior and achieve their marketing goals.
Additional notes:
The lecture also discussed the concept of brand loyalty and how it is
influenced by learning.
The lecture concluded with a preview of the next lecture, which will
focus on mood, emotion, and involvement.
Introduction
Recap of previous lectures:
Consumer behavior and decision making process
Individual psychological factors affecting consumer behavior
Perception and its impact on consumer decisions

Memory and learning processes in consumer behavior
Introduction to new topic: Motivation, emotion, and mood
II. Motivation
Definition: An internal state that initiates activities leading to goal-

directed behavior.
Key role in marketing communication: Motivating consumers to

prefer, purchase, and compare brands.
Closely related to emotions and moods.
III. Consumer Motivation
Definition: The drive to satisfy needs and wants through purchase

and use of products.
Examples of needs and wants:
Physiological needs (hunger, thirst)
Safety and security needs
Social needs (love, belonging)
Esteem needs (achievement, recognition)
Self-actualization needs (fulfilling one's potential)
IV. Theories of Consumer Motivation
Maslow's Hierarchy of Needs:
Five levels of needs arranged in a pyramid
Lower-level needs must be satisfied before higher-level needs

become important
McClelland's Needs Theory:
Three basic needs: achievement, affiliation, and power
Consumers are motivated by different needs to varying degrees
Herzberg's Two-Factor Theory:
Motivators (achievement, recognition, responsibility) lead to

satisfaction

Hygiene factors (salary, working conditions) prevent
dissatisfaction
V. Consumption Motives
Specific needs and wants that drive consumers to purchase certain

products.
Examples:
Power: muscle cars, heavy tools
Security: home security systems, insurance
Social acceptance: trendy clothes, popular brands
Individuality: unique products, handcrafted items
Status: luxury cars, designer clothing
VI. Jagdish N. Sheth's Consumption Motives
Five categories of consumption motives:
Approach-approach: Two desirable options
Approach-avoidance: One option with both positive and negative

aspects
Avoidance-avoidance: Two undesirable options
Approach-conflict: Two equally desirable options
Avoidance-conflict: Two equally undesirable options
VII. How Marketers Trigger Consumer Motives
Need recognition: Creating awareness of a need that can be

satisfied by a product.
Need-benefit segmentation: Targeting different consumer segments

with messages that appeal to their specific needs.
Subconscious motivation: Appealing to hidden desires and

motivations.
VIII. Conclusion
Motivation is a key factor influencing consumer behavior.
Understanding consumer motivation helps marketers develop

effective marketing strategies.

Lecture 15: Emotion, Motivation, and Mood - II
Introduction
This lecture builds on the previous lecture on motivation.
It focuses on two additional psychological factors that influence

consumer behavior: emotion and mood.
It also discusses product involvement and its impact on consumer

behavior.
Emotion
Definition: A multi-component episode that creates a readiness to

act.
Characteristics:
Pointed: Has a clear input, throughput, and output.
Short-lived: Occurs in response to a specific event or stimulus.
Intense: Has a strong impact on behavior.
Examples: Joy, sadness, anger, fear, surprise.
Mood
Definition: A general and pervasive affective state that lasts for a

longer period of time.
Characteristics:
Unclear: Does not have a specific cause.
Less intense than emotions.
Longer-lasting than emotions.
Examples: Happiness, sadness, anxiety, boredom.
The Role of Emotion and Mood in Consumer Behavior
Emotions and moods can influence consumer behavior in several

ways:
Attention: They can direct attention to certain products or

messages.

Information processing: They can affect how consumers process
information about products.
Decision making: They can influence the choices consumers

make.
Behavior: They can motivate consumers to take action, such as

buying a product.
Product Involvement
Definition: The level of personal interest and importance a consumer

has in a product or service.
Types of involvement:
High involvement: Consumers are highly interested in the

product and spend a lot of time and effort researching and
evaluating it.
Low involvement: Consumers are not very interested in the

product and make decisions quickly and easily.
The level of involvement can influence how consumers process

information and make decisions.
Models of Consumer Information Processing
The Elaboration Likelihood Model (ELM):
Consumers can process information in two ways:
Central route: Consumers carefully evaluate the information

and form their own opinions.
Peripheral route: Consumers rely on cues such as brand

name or celebrity endorsements.
The level of involvement determines which route consumers

take.
The Product Versus Brand Involvement Model:
Classifies consumers based on their level of involvement in both

the product and the brand.
Four types of consumers:
Brand loyalists: High involvement in both product and brand.

Routine brand buyers: High involvement in brand but low
involvement in product.
Information seekers: Low involvement in brand but high

involvement in product.
Brand switchers: Low involvement in both product and

brand.
Conclusion
Emotion, mood, and product involvement are important factors that

influence consumer behavior.
Lecture 16: Attitude and Attitude Change - I

Introduction
This lecture is part of a MOOCs course on consumer psychology.
Previous lectures covered the definition of consumer psychology, the

decision-making process, and psychological variables affecting
consumers and marketers.
This lecture focuses on the psychological factor of attitude and its

role in consumer behavior.
Components of Attitude
Belief: The cognitive component, representing the consumer's

knowledge and beliefs about a product or service.
Affect: The emotional component, representing the consumer's

feelings and evaluations of a product or service.
Intention: The behavioral component, representing the consumer's

likelihood to purchase or use a product or service.
Attitude Change
Attitude change can occur through two main routes:
Central route: Persuasion based on logic and reason, leading

to a more enduring change in attitude.
Peripheral route: Persuasion based on cues and

heuristics, leading to a less enduring change in attitude.

Factors Influencing Attitude Change
Source factors: Credibility, attractiveness, and expertise of the

source of information.
Message factors: Content, clarity, and persuasiveness of the

message.
Channel factors: Medium through which the message is

communicated.
Receiver factors: Consumer's personality, values, and prior

knowledge.
Models of Attitude Change
Functional theory of attitude: Consumers develop affective

responses to products based on their perceived rewards and
punishments.
Application of prior knowledge: Consumers use their existing

knowledge to filter information and form attitudes.
Summary
This lecture introduced the concept of attitude and its components in

the context of consumer behavior.
It discussed the process of attitude change and the factors

influencing it.
Two models of attitude change were presented: the functional theory

and the application of prior knowledge.
17 no
Lecture 18: Communication and Persuasion - I

Introduction
This lecture and the next one (Lecture 19) will be the last two
lectures in the course on Consumer Psychology.
The course was designed to study consumer behavior and the

psychological factors that influence consumers, marketers, and other
stakeholders in the marketplace.

Recap of previous lectures
Lectures 1 and 2: Defined consumer, shopper, and buyer, and

discussed the concept of a product.
Lectures 3 to 9: Focused on consumer decision making, including

information search, alternative evaluation, and post-purchase
evaluation.
Lectures 10 to 17: Focused on psychological variables that affect

consumer behavior, including perception, learning and
memory, mood and emotion, and attitude.
Marketing communications
This lecture focuses on marketing communications, which are

messages designed to influence consumers' attitudes and behavior.
Different types of advertisements:
Factual advertisements: Provide information about the product.
Emotional advertisements: Appeal to the consumer's emotions.
The AIDA model:
Attention: Capture the consumer's attention.
Interest: Create interest in the product.
Desire: Create a desire for the product.
Action: Motivate the consumer to buy the product.
The modified AIDA model:
Awareness: Make the consumer aware of the product.
Acceptance: Get the consumer to accept the product.
Purchase: Get the consumer to buy the product.
Trial: Get the consumer to try the product.
The Information Integration Model of Communication and

Persuasion:
Consumers process information based on its quality and

quantity.
High-quality information is more likely to be persuasive.

The Extended Dual Model:
Consumers' attitudes towards an ad and the brand influence

their purchase intentions.
The Elaboration Likelihood Model:
Consumers process information through two routes:
Central route: Used for factual messages.
Peripheral route: Used for emotional messages.
Conclusion
This lecture provided an overview of marketing communications and

how they influence consumers.
Lecture 19: Communication and Persuasion - II

Source factors:
Source power: The ability of the source to influence the receiver.
Source credibility: The believability and trustworthiness of the

source.
Source congruency: The match between the source and the

message.
Source attractiveness: The likeability of the source.
Message factors:
Message tone: The emotional appeal of the message.
Message content: The information conveyed in the message.
Message execution: The way the message is presented.
Comparative messages: Messages that compare the product to

competitors.
Media factors:
Media type: The medium used to deliver the message

(e.g., television, radio, print).
Media vehicle: The specific channel used to deliver the message

(e.g., a particular TV show, radio station, or magazine).

Frequency: The number of times the message is exposed to the
receiver.
Message size and duration: The length of the message.
Context: The environment in which the message is received.
How these factors affect communication:
Source factors affect the credibility and persuasiveness of the

message.
Message factors affect the attention, comprehension, and memory of

the message.
Media factors affect the reach and impact of the message.
The importance of an informed consumer:
An informed consumer is more likely to make rational decisions.
An informed consumer is more likely to be resistant to persuasion.
An informed consumer is more likely to be satisfied with their

purchases.
Summary:
This lecture discussed the factors that affect communication and

persuasion.
These factors include source factors, message factors, and media

factors.
An informed consumer is more likely to make rational decisions and

be resistant to persuasion.
20- no

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consumer psychology Bard

The power of suggestion:

Psychological factors influencing consumer behavior:

These factors include things like

consumer psychology Bard Notes 1

Overall, this video provides a valuable introduction to the field of consumer

A. What is consumer behavior?

a. Marketer's viewpoint: Focuses on factors like product

b. Consumer's viewpoint: Focuses on the psychology of the consumer

B. Importance of studying consumer behavior

Helps marketers develop products and marketing strategies that meet

Helps consumers make informed purchase decisions.

II. The consumer decision-making process

A. Stages in the decision-making process

Problem recognition: Identifying a need or want.

Information search: Gathering information about products and services.

Evaluation of alternatives: Comparing different options.

Purchase decision: Choosing a product or service.

Post-purchase evaluation: Evaluating the purchase decision.

B. Factors influencing the decision-making process

Personal factors: Age, income, education, lifestyle, etc.

Psychological factors: Motivation, perception, learning, attitudes, etc.

Social factors: Culture, family, reference groups, social class, etc.

consumer psychology Bard Notes 2

III. Market segmentation

A. Definition: Dividing a market into smaller groups of consumers with similar

B. Benefits of market segmentation

Allows marketers to develop targeted marketing campaigns.

Helps to allocate marketing resources more efficiently.

Can lead to increased sales and profits.

C. Types of market segmentation

Demographic segmentation: Dividing the market based on factors such as

Geographic segmentation: Dividing the market based on geographic

Psychographic segmentation: Dividing the market based on

Behavioral segmentation: Dividing the market based on purchase

Consumer behavior is a complex field of study, but it is essential for

By studying consumer behavior, marketers can develop products and marketing

consumer psychology Bard Notes 3

Marketers need to understand both core and accessory benefits in order to

This is the second lecture in the series of introducing consumer behavior.

What is consumer behavior?

What are the main ingredients of consumer behavior?

What are the different types of consumers (shoppers, buyers, consumers)?

How do consumers make purchase decisions?

What is market segmentation and why is it important?

How is market segmentation done?

What are the different segmentation strategies?

II. Consumer Decision Making Process

1. Problem recognition: The consumer recognizes a need or want that can be

2. Information search: The consumer gathers information about different

3. Evaluation of alternatives: The consumer evaluates the different products

4. Purchase decision: The consumer decides whether or not to buy the

5. Post-purchase evaluation: The consumer evaluates their satisfaction with

III. Methods of Research in Consumer Behavior

consumer psychology Bard Notes 4

Observational research: Observing consumers in their natural environment

Surveys: Asking consumers questions about their attitudes, beliefs, and

Interviews: Conducting in-depth interviews with consumers to learn more

Focus groups: Bringing together a group of consumers to discuss a

Experiments: Testing the effects of different marketing variables on

The video also discusses the importance of understanding individual differences

Marketers need to take these individual differences into account when

Lecture 3: Problem Recognition - I