Psychology Behind Consumer Behaviour in the Current Times

Understanding consumer behaviour is an essential aspect of marketing, and BSc in Psychology graduates can contribute their significant expertise in human psychology to this dynamic field. In the ever-evolving contemporary marketplace with fast-changing consumer behaviour, the strong and steady foundation provided by the discipline of psychology can explain and even predict some of these changes.

With myriad factors affecting consumer behaviour, a combined understanding of the market and human psychology become vital for effective marketing strategies in today’s dynamic technology-driven economy.

This blog will take a look at the psychology behind contemporary consumer behaviour and analyse how BSc in Psychology graduates from the top universities of India can play a profound role in tailoring marketing strategies according to the underlying psychological factors that drive consumers’ purchasing decisions.

Ethics and Sustainability

A recent trend that all brands must contend with is the consumer’s recent prioritisation of a company’s ethics. Issues like animal testing, labour practices, fair wages, and environmental sustainability of products are all at the forefront of consumer concerns when making purchasing decisions.

Consumers may be willing to pay more for a product advertised as ethically sourced or sustainable, making it essential for companies to employ consumer psychologists to understand how to market to these consumers and convey their message convincingly. BSc psychology graduates can facilitate an understanding of the underlying basis of human ethics and morality, which are static despite the changing nature of the external forces shaping them.

For instance, the top universities of India teach BSc Psychology students significant theories like Kohlberg’s moral development theory, which can aid them in understanding the psychology of different demographics and tailoring marketing campaigns accordingly.

The internet has made it easy for consumers to research a company’s practices and check if they align with their personal moral compass. Thus, brands must work much harder to cultivate a positive image that resonates with their consumers.

BSc Psychology programmes at the top universities in Rajasthan, like Manipal University Jaipur, include practical courses that train BSc Psychology students to apply their knowledge and skills in different industries. Its course on Applications of Psychology in modern life consists of a detailed study of consumer behaviour, equipping BSc Psychology students to have thriving careers in marketing or advertising industries.

Social and Cultural Influence in the Digital Age

Social and cultural influences have been dictating consumer behaviour since time immemorial. However, the instantaneous micro trends fueled by viral moments online are a relatively new phenomenon that brands are still vying to understand and utilise.

While the trend of social media influencers may be new, social influence's role in consumer behaviour is consistent. BSc Psychology programmes at the top universities of India teach students the intricacies of group behaviour, including the causes behind the human desire to conform and fit in. Understanding the reasoning behind such behaviours is how we can predict them, which is incredibly useful for marketing.

BSc Psychology programmes also cover the concept of groupthink, which has only accelerated in the age of social media. Advertisers can leverage these psychological concepts to create campaigns with mass appeal and boost sales.

Personalisation

Consumers expect personalised advertising, products, and services - made more accessible than ever in the digital age. However, merely using consumer insights to target key demographics may not be enough to connect with consumers.

The insight provided by BSc Psychology programmes at the top universities of Rajasthan, like Manipal University Jaipur, aids graduates in being assets for brands in the age of personalisation. Their in-depth understanding of the various personality types equips them to appeal to diverse audiences deftly.

BSc Psychology graduates can use their knowledge of emotional responses and motivation to assist brands in creating customer experiences that elicit the desired response and drive engagement.

Health and Wellness

The past decade has seen a consistent rise in consumers’ prioritisation of health and wellness, which is clearly reflected in their purchasing habits. However, it is no secret that not all products marketed as healthy are so. Brands are vying to appear to be the healthiest option, with tags like organic, natural, herbal, and so on. Creating ads that convince increasingly health-conscious consumers is not easy. It requires understanding the underlying psychological principles that have given rise to the contemporary health and wellness culture.

Psychological concepts like self-image and identity formation offer helpful insight into the underlying reason for the relentless rise of wellness culture. As companies continue to compete in this booming industry, those with access to such insight will inevitably come out ahead, prompting businesses to hire BSc Psychology graduates from the top universities of India as consumer psychologists.

Drivers of Purchasing Decisions

Purchasing decisions are influenced by factors like convenience, trust, and the availability of options. A BSc in Psychology student’s insight into the fundamental aspects of decision-making is the bedrock upon which brands can base their market research for purchasing decisions.

This is perhaps the most critical area of market research on consumer behaviour, and it could substantially benefit from the insight of BSc Psychology graduates from the top universities of India.

BSc Psychology programmes cover factors behind decision-making, like cognitive biases, in exhaustive detail. Cognitive biases like the anchoring effect, confirmation bias, and the halo effect can be leveraged by brands to appeal more to their target audience.

Conclusion

The marketing industry is increasingly recognising the vital role that consumer psychologists have to play in creating effective campaigns that resonate with consumers. The top universities of India have also designed BSc in Psychology programmes that prioritise training students in the applications of psychology in the modern world, like understanding consumer behaviour.

The modern consumer has all the world’s information at the tip of their fingers, making them more well-informed than ever. Marketing to the modern consumer requires more tact and insight, necessitating an in-depth understanding of human emotion, motivation, and decision-making. BSc in Psychology graduates are the ideal candidates for the job, able to understand and predict consumer behaviour despite the dynamic nature of the contemporary marketplace.