Consumer behavior

Consumer behavior

1. Marshallian Economics: Alfred Marshall believed that consumers buy their goods and services based on what offers the most personal satisfaction.

2. Psychoanalytic Theory: Psychoanalytic theory traces back to Sigmund Freud He believed that humans are not able to fully understand their own motivations because the psychological factors that shape them are largely unconscious. Instead, marketing messages that contain an emotional appeal to consumers’ feelings, hopes, aspirations and fears are often more effective than rational appeals.

3. Pavlovian Theory: This theory comes from the work of Russian psychologist Ivan Pavlov. much of human behavior results from conditioned responses. When establishing or reinventing a brand, marketers can use this knowledge to help create or change consumer habits.