Psy322

Marketing Communications Memo

Michael Wilson

PSY/322

The definition of consumer psychology, a branch of social psychology concerned with the market behavior of consumers. Consumer psychologists examine the preferences, customs, and habits of various consumer groups; their research on consumer attitudes is often used to help design advertising campaigns and to formulate new products. Research is undertaken starting with basic hypotheses which stems from economic, psychological, theories and sociological, it is a never ending process that will always be evolving as people are constantly changing and the demands of the market must change with them in order to be successful.

Consumer psychology studies the changing behaviors in different groups of consumers and then attempts to categorize the factors responsible for the changes these studies occur in children, teenagers, adults and the elderly. We the consumers need to feel constantly stimulated with new an invigorating ways to keep us focused not only on a short term goals but to remain loyal to the brand, and this is a difficult task to accomplish. Companies seem to think they must always have the extra sparkle to keep our eyes focused on their products.

Much work in consumer psychology has examined how consumers process information and form judgments and how memory and judgment affect consumers' decision making. Research on information processing and judgment relies on the theory and research methods of cognitive and social psychology. Thus, elaboration and cognitive resources serve as central constructs, and experimental procedures are common in consumer psychology research. Theories taken from psychology are tested for solidify and are fortified by examining moderating and mediating conditions made available by the consumption role and setting.

In contrast, consumer decision-making research has roots well established in economic and sociology, as well as psychology; consequently, research in this...