Consumer Dynamics

Prof Rajagopal

Chapter Chapter 2 in Agile Marketing Strategies, 2022, pp 25-53 from Springer

Abstract: Abstract Consumer behavior is evolving continuously through adaptation (fitting consumption to manufacturing and marketing ecosystems), divergence (changing preferences, technology advancement, and market trends), and noise (crowd behavior, social stimuli, and personality). The taxonomy of consumer behavior includes individual and group behavior, and social consumption behavior. Consumer emotions contribute significantly to the neurobehavioral dynamics, which reflects in consumer perceptions, attitude, and actions. Emotions, personality, self-concepts, self-image congruence, and anthropomorphism significantly affect the buying decision-making and consumption practices. In addition, external factors (social behavior, market trends, and technology) and shifts in preferences (personal, health, organic, and sustainability) influence consumer behavior over the long term. Neuromarketing has emerged as a new stream of brain research, which has broadly benefitted the advertising and communication in the firms. Neuromarketing is the part of neuroscience research that targets at contemplating the purchaser conduct through the cerebrum’s instinctual procedures and reactions. This chapter discusses evolution of consumer behavior and analyzes the behavioral ecosystem in the context of cognition and emotions that contributes to neurobehavioral attributes. In addition, this chapter also examines the causes and effects of changing consumer preferences under the transforming marketing practices.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-04212-6_2

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DOI: 10.1007/978-3-031-04212-6_2

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