Consumer Choice and Self-Concept

(Subject]

Introduction2

Consumer Choice2

Consumer Behavior2

It's Origin and Strategic and Applications2

The Consumer Research Process2

Market Segmentation2

Motivation (consumer)3

Personality and Behavior3

Consumer Perception3

Consumer Learning3

Discussion3

Self-Concept4

Kohut's Self Psychology5

Attitude Formation and Change5

Motivational-Need Theories and Consumer Behavior5

The Driving Force behind Consumer Choice6

Conclusion8

References9

Consumer Choice and Self-Concept

Introduction

Consumer Choice

Consumer Choice is defined as the capability of consumers to select among competing services and goods. The theory of Consumer Choice, in microeconomics connects preferences (for the services and goods consumption) or consumption expenditure; eventually, this association among consumption expenditure and preference is utilized to connect consumer demand curve to preference (Okada, 2005, p, 43-53).

This connection among consumption, personal preference, and the demand curve is one of the most nearly explored relations I the subject of economics. The theory of Consumer Choice is a way of gauging the manner in which consumers acquire equilibrium among expenditure and preference by increasing utility as consumer topic budget constraints (Thaler, 1985, p, 199-214).

Consumer Behavior

The consumer behavior encompasses the psychological procedure through which consumers pass in identifying needs, making buying choices (such as, whether to buy a product/service of not and if yes, Where and which brand), construe information, planning and applying these plans (for example, by getting involved in process of comparison or being a product or service) (Pete & Olson, 2005; Schiffman & Kanuk,2007).

It's Origin and Strategic and Applications

Therefore, consumer behavior tends to explore how the examination and application of the consumer behavior is central to planning, development and how marketing strategies are implemented. Further, this behavior varies between the different consumers such as a personal consumer is an individual who buys goods and products for his/her own personal needs or the family as compared to an Organizational consumer who purchases goods for which are necessary for the organizational function.

The Consumer Research Process

To recognize the behavior of individual consumer, it is important to conduct a process which is known as the consumer research process which is descriptive in nature as it helps the marketers to predict positive consumer behavior.

Market Segmentation

Segmentation of the market is an integral part of the consumer behavior process. Marketing segmentation is therefore a process of dividing the whole market into individual segments which help segment the consumers according to their preference and needs.

Motivation (consumer)

Motivation is said to be a state which activates an individual towards achieving a goal. Needs, desires and feeling are the main things which motivate a consumer to make purchases or achieve a goal which in consumer behavior is to purchase a good. However, needs are never fully satisfied.

Personality and Behavior

The term consumer personality is defines as the inside psychological characterizes which reflects and determines the way an individual reacts to his r her individual differences. There are a number of theories of personality and behavior as behavior is shaped by an individual's personality. For example according to the Freudian theory personality is derived from the unconscious needs or drives which motivates an individual (Ajzen, 2005).

Consumer Perception

A consumer's perception is influenced by the stimuli it ...