The influence of the income on the cognitive and emotional reactions of the consumer

Corina Pelau

Timisoara Journal of Economics, 2012, vol. 5, issue 18, 221-235

Abstract: The analysis of the consumer behavior has become one of the most important elements for the strategy of a company, because all decisions depend on the way the consumer makes the buying decision. Nowadays the biggest challenge of any company is to get to know its consumers and to convince them to buy their products and not the ones from the competition. As consumers differ depending on gender, lifestyle, lifecycle, social class or social group, subculture or culture, for a company it is important to know the behavior of all typologies of behavior. This article presents the differences of the consumer behavior, depending on their income for several product groups. Depending on the value of the income, a consumer can afford from a financial point of view to buy more or less products or to buy more expensive or cheaper products. This article analyzes the results of a research about the emotional and cognitive reactions of the consumer in the buying decision and it determines if the level of income influences the amount of emotional and cognitive elements. There is analyzed the behavior for several product groups of basic products, new product categories or products which spoil the consumer, with the purpose of analyzing the difference of emotionality for each product group.

Keywords: Consumer behavior; emotional buying reactions; cognitive buying reactions; income (search for similar items in EconPapers)
JEL-codes: M31 (search for similar items in EconPapers)
Date: 2012
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