1.2.10 Alternative views of consumer behaviour

Question 1

What are the influences of other people’s behaviour?

Answer 1

/Peer pressure
/Producers influence consumers choices
/Behavioural psychology

Question 2

Explain peer pressure?

Answer 2

Peer pressure often prompts consumers to make purchasing decisions that may go against a computation of net benefits.

Question 3

Explain producers influence consumers choices?

Answer 3

Producers influence consumers choices through various forms of advertising, including lifestyle, celebrity endorsement and influencer culture.

Question 4

Explain behavioural psychology?

Answer 4

Producers use advanced behavioural psychology techniques to influence consumer choices for example neuro branding.

Question 5

What is habitual behaviour?

Answer 5

Consumers make so many purchasing decisions that they often rely on habits to speed up the process.

Question 6

What is consumer weakness at computation?

Answer 6

The wider the range of choice, the harder it is for a consumer to gather information and compute which one offers the highest net benefits.