Behavioral Economics And Consumer Behavior Understanding The Mind Of The Modern Consumer
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Behavioral Economics And Consumer Behavior Understanding The Mind Of The Modern Consumer
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Author : Siddharth Jha , Olena Sokhatska
language : en
Publisher: Crown Publishing
Release Date : 2025-07-23
Behavioral Economics And Consumer Behavior Understanding The Mind Of The Modern Consumer written by Siddharth Jha , Olena Sokhatska and has been published by Crown Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-07-23 with Business & Economics categories.
This book, "Behavioral Economics and Consumer Behavior: Understanding the Mind of the Modern Consumer," provides a comprehensive exploration of how behavioral economics sheds light on real-world consumer choices. It delves into the interdisciplinary nature of the field, integrating insights from economics, psychology, sociology, neuroscience, information theory, and machine learning to understand human decision-making. The book challenges the traditional economic assumption of the "rational agent," proposing instead that consumers are influenced by cognitive biases, emotions, and social factors, leading to "predictably irrational" behavior. It traces the historical foundations of behavioral economics, acknowledging pioneers like Adam Smith, and detailing the groundbreaking work of Daniel Kahneman and Amos Tversky on Prospect Theory, as well as Richard Thaler's contributions to Nudge Theory. Core concepts such as prospect theory, various cognitive biases (e.g., anchoring, loss aversion, present bias, sunk cost fallacy, mental accounting), and heuristics (e.g., satisficing, availability heuristic) are thoroughly explained. The text also examines traditional models of consumer behavior and analyzes internal psychological, external sociocultural, and situational influences on consumer choices. Furthermore, the book explores the practical applications of behavioral economics in marketing strategy, including behavioral pricing, promotional offers leveraging scarcity and social proof, personalization, gamification, and emotion-based marketing. It extends its scope to public policy and product design, demonstrating how nudges can guide decisions for societal benefit and how behavioral insights optimize user experiences. The book concludes by addressing future directions, including the role of AI and big data, and critically examines the ethical implications of behavioral interventions.
The Paradox Of Choice
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Author : Barry Schwartz
language : en
Publisher: Harper Collins
Release Date : 2009-10-13
The Paradox Of Choice written by Barry Schwartz and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-13 with Psychology categories.
Whether we're buying a pair of jeans, ordering a cup of coffee, selecting a long-distance carrier, applying to college, choosing a doctor, or setting up a 401(k), everyday decisions—both big and small—have become increasingly complex due to the overwhelming abundance of choice with which we are presented. As Americans, we assume that more choice means better options and greater satisfaction. But beware of excessive choice: choice overload can make you question the decisions you make before you even make them, it can set you up for unrealistically high expectations, and it can make you blame yourself for any and all failures. In the long run, this can lead to decision-making paralysis, anxiety, and perpetual stress. And, in a culture that tells us that there is no excuse for falling short of perfection when your options are limitless, too much choice can lead to clinical depression. In The Paradox of Choice, Barry Schwartz explains at what point choice—the hallmark of individual freedom and self-determination that we so cherish—becomes detrimental to our psychological and emotional well-being. In accessible, engaging, and anecdotal prose, Schwartz shows how the dramatic explosion in choice—from the mundane to the profound challenges of balancing career, family, and individual needs—has paradoxically become a problem instead of a solution. Schwartz also shows how our obsession with choice encourages us to seek that which makes us feel worse. By synthesizing current research in the social sciences, Schwartz makes the counter intuitive case that eliminating choices can greatly reduce the stress, anxiety, and busyness of our lives. He offers eleven practical steps on how to limit choices to a manageable number, have the discipline to focus on those that are important and ignore the rest, and ultimately derive greater satisfaction from the choices you have to make.
Hedonism Utilitarianism And Consumer Behavior
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Author : Daniele Scarpi
language : en
Publisher: Springer Nature
Release Date : 2020-05-28
Hedonism Utilitarianism And Consumer Behavior written by Daniele Scarpi and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-28 with Business & Economics categories.
This book investigates the effects of utilitarian and hedonic shopping behavior, drawing on original empirical research. Consumers have been shown to shop in one of two ways: they are either mainly driven by fun, escapism, and variety, or by need and efficiency. While previous literature has focused on the drivers of hedonic or utilitarian shopping, this book explores the consequences of these styles of shopping and addresses their impact on perceived value, money spent, and willingness to return to the store in future. The author synthesizes theories from previous studies, applying them to two key retailing contexts – intensive distribution and selective distribution. Ultimately, this book highlights the need for retailers to adopt a more consumer-based perspective to improve shopping experiences. It will prove useful for academics who want to gain a better understanding of hedonic and utilitarian behavior, and also offers practitioners with useful insights on how to target different customer segments.
Handbook Of Consumer Psychology
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Author : Curtis P. Haugtvedt
language : en
Publisher: Psychology Press
Release Date : 2018-12-07
Handbook Of Consumer Psychology written by Curtis P. Haugtvedt and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Psychology categories.
This Handbook contains a unique collection of chapters written by the world's leading researchers in the dynamic field of consumer psychology. Although these researchers are housed in different academic departments (ie. marketing, psychology, advertising, communications) all have the common goal of attaining a better scientific understanding of cognitive, affective, and behavioral responses to products and services, the marketing of these products and services, and societal and ethical concerns associated with marketing processes. Consumer psychology is a discipline at the interface of marketing, advertising and psychology. The research in this area focuses on fundamental psychological processes as well as on issues associated with the use of theoretical principles in applied contexts. The Handbook presents state-of-the-art research as well as providing a place for authors to put forward suggestions for future research and practice. The Handbook is most appropriate for graduate level courses in marketing, psychology, communications, consumer behavior and advertising.
Blindsight
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Author : Matt Johnson
language : en
Publisher: BenBella Books
Release Date : 2020-05-19
Blindsight written by Matt Johnson and has been published by BenBella Books this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-19 with Business & Economics categories.
Ever notice that all watch ads show 10:10 as the time? Or that all fast-food restaurants use red or yellow in their logos? Or that certain stores are always having a sale? You may not be aware of these details, yet they've been influencing you all along. Every time you purchase, swipe, or click, marketers are able to more accurately predict your behavior. These days, brands know more about you than you know about yourself. Blindsight is here to change that. With eye-opening science, engaging stories, and fascinating real-world examples, neuroscientist Matt Johnson and marketer Prince Ghuman dive deep into the surprising relationship between brains and brands. In Blindsight, they showcase how marketing taps every aspect of our mental lives, covering the neuroscience of pain and pleasure, emotion and logic, fear and safety, attention and addiction, and much more. We like to think of ourselves as independent actors in control of our decisions, but the truth is far more complicated. Blindsight will give you the ability to see the unseeable when it comes to marketing, so that you can consume on your own terms. On the surface, you will learn how the brain works and how brands design for it. But peel back a layer, and you'll find a sharper image of your psychology, reflected in your consumer behavior. This book will change the way you view not just branding, but yourself, too.
Consumer Behaviour
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Author : MAJUMDAR, RAMANUJ
language : en
Publisher: PHI Learning Pvt. Ltd.
Release Date : 2010
Consumer Behaviour written by MAJUMDAR, RAMANUJ and has been published by PHI Learning Pvt. Ltd. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Consumer Behaviour has always fascinated marketers all over the world. Rightly so, because it offers interesting insights into the working of the human mind in making purchasing decisions. For instance, why do consumers repeatedly purchase a particular brand or, in some cases, why do they switch from one product to another? In this compact, concise and profusely illustrated text, Professor Majumdar, with his rich and varied experience in Marketing, tries to provide interesting insights into some of these and other interesting questions about consumer behaviour. He gives a masterly analysis of the theory and practice of consumer behaviour and decision making and the factors that influence it. Divided into six parts, Part I of the text shows the importance of understanding consumer behaviour; Part II highlights different aspects of consumer psychology and covers such topics as consumer motivation, consumer perception, and consumer personality. Part III demonstrates how consumers behave in their social and cultural settings, the effect of personal factors, and the influence of reference groups on consumer behaviour. Part IV dealing with consumer decision making describes the various stages involved in brand choice, the post-purchase behaviour and, importantly, the six well-established models proposed by scholars on consumer behaviour. Part V analyzes the diversity of the Indian market and about the emerging patterns of consumer behaviour. The concluding part—Part VI—gives seven live case studies that dwell on brand building and showcases some successful brands marketed in India. Key Features : • The book is a harmonious blend of theory and practice. • Each chapter contains numerous examples of marketing practices in India. • Demonstrates the diversity of the Indian market. • Power point presentations (PPTs) are available in the Learning Centre. Click https://www.phindia.com/consumer_behaviour_majumdar. For the wide spectrum of readers—the students of management, the marketers and the practising managers—reading this book should be a very valuable and rewarding experience. They would treasure the book for its incisive insights on the Indian market and the wealth of illustrative examples and concepts it offers.
Consumer Behaviour Buying Having Being
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Author : Michael Solomon
language : en
Publisher:
Release Date : 2018-09-25
Consumer Behaviour Buying Having Being written by Michael Solomon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-25 with categories.
The only Australian-adapted marketing text that utilises up-to-date content and provides a multi-perspective approach for students and instructors. Readers are provided with a balanced look of the complexity of consumer behaviour theory with the need to make sense of the concepts for the real world. The ideas presented are grounded in real-world examples to bring to life the research upon which the text is built. A blend of contemporary and distinctive theories have been integrated, representing cognitive, emotional, behavioural and cultural schools of thought throughout the book.
Consumer Behaviour
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Author : Jim Blythe
language : en
Publisher: SAGE
Release Date : 2013-03-26
Consumer Behaviour written by Jim Blythe and has been published by SAGE this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-26 with Business & Economics categories.
Electronic Inspection Copy available for instructors here Why do you choose the things you buy – such as this textbook, a smartphone or an item of clothing? How often, where, and instead of what? What do you consider a boring necessity or a fun luxury? What do you do with products once you’ve purchased them? When do you decide to chuck them and why? As a consumer you make conscious and unconscious decisions, nonstop, every day of your life. This is Consumer Behaviour! This friendly, lively full colour text will support you through your course and help you to get the best possible grade for future employment. It even has How to Impress Your Examiner boxes in each chapter. There are lots of case studies along the way from global brands such as Facebook, Apple and Amazon Kindle, and Consumer Behaviour in Action boxes in every chapter to show you how it works in the real world. If you want to be top of the class you can push yourself that little bit further by reading the Challenging the Status Quo asides which will help your critical thinking and problem solving skills. These are key skills that employers look for in graduates, so practicing now will help set you apart from the pack and boost your employability. You could also dip into the Further Reading resources to help you with essays and exam revision – using these is a sure route to better grades. Visit the companion website www.sagepub.co.uk/blythe for extra materials including multiple choice questions to test yourself and Jim’s pick of Youtube videos that make the examples in each chapter come alive!
Understanding Consumer Choice
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Author : G. Foxall
language : en
Publisher: Springer
Release Date : 2005-03-11
Understanding Consumer Choice written by G. Foxall and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-03-11 with Business & Economics categories.
Understanding Consumer Choice shows how attempts to relate consumers' attitudes and actions have implicitly incorporated measures of the very variables at the heart of a situational theory of consumer choice. These are the buyer's consumption history and the physical and social setting in which consumer behaviour occurs. The book explores the capacity of the resulting model to explain consumer behaviour in retail and consumption situations, and to elucidate brand choice. The result is a novel interrogation of cognitive and behavioural perspectives, an overarching philosophy for consumer research.
An Introduction To Behavioral Economics
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Author : Nick Wilkinson
language : en
Publisher: Bloomsbury Publishing
Release Date : 2017-12-16
An Introduction To Behavioral Economics written by Nick Wilkinson and has been published by Bloomsbury Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-12-16 with Business & Economics categories.
The third edition of this successful textbook is a comprehensive, rigorous survey of the major topics in the field of behavioral economics. Building on the strengths of the second edition, it offers an up-to-date and critical examination of the latest literature, research, developments and debates in the field. Offering an inter-disciplinary approach, the authors incorporate psychology, evolutionary biology and neuroscience into the discussions. And, ultimately, they consider what it means to be 'rational', why we so often indulge in 'irrational' and self-harming behavior, and also why 'irrational' behavior can sometimes serve us well. A perfect book for economics students studying behavioural economics at higher undergraduate level or Master's level. This new edition features: - Extended material on heuristics and biases, and new material on neuroeconomics and its applications - A wealth of new topical case studies, such as voting behavior in Brexit and the Trump election and the current obesity epidemic - More examples and review questions to help cement understanding