Hello friends, welcome to this course on consumer
psychology.
This course is designed by MHRD and it is
called the MOOCs NPTEL course.
Now I am going to put something on this slide
and I want you answer some questions for me.
So basically, look at this symbol and look
at this symbol, is there a difference, did
you find a difference between them, which
is more appealing.
As you can clearly see the a to z in amazon
means that they have everything with them,
any product starting from a to z in the English
language and so have most of the products.
But if you look at this ad, FedEx ad.
There is a subtle tone here, there is a subtle
message here which was never understood by
people.
And the message was the E and X makes an arrow
which says that FedEx moves towards or it
moves forward, and people did not understand,
and so this is something called designing
the logo for a particular company.
And so if consumers cannot comprehend what
a logo is saying, or what your company is
saying, there is no use of it.
And so the understanding of this logo has
a lot of role to play on people consumer psychology.
Let us look at this, let us say I want you
to invest in a particular book series or a
newsletter which will cost you 100 rupees
per year, interested.
Most people will not be, they are not interested
investing 1000 rupees per year investment
for a newsletter.
But let us say you only have to part with
84 rupees per month for a newspaper, magazine,
newsletter.
Now interested, yes most people are, as you
look into it most people are actually full
buy it.
And so 84 * 12 gives you 1084 kind of a thing,
and so you are 80 rupees more than 1000 and
still you are interested in it.
Let us look at another interesting feature.
If I say will you donate for charity, will
you?
Most people will not donate for charity.
But now if I will say will you donate for
charity and that each penny that you donate
will count, will you be interested.
Yes, most people are interested with the second
thing.
So what am I talking about, how is it different,
how is it, because when you go to a shop and
you look at something which is 999.95 you
actually buy it.
But if t is 1001, you do not buy it.
What is the difference between this?
When you look at things which are in capital
letters it is appealing to you, but when it
is small, it is not appealing to you.
Packaging which is shining is appealing to
you, but things which are non-packaged in
a very raw form or in a classic form, it does
not appealing to you.
And so the content of this course, consumer
psychology add these questions.
So welcome to this course, where we will be
looking at all those psychological factors,
all those psychological reasons which actually
make someone go in to the market and buy something
or purchase something.
The course content is done in such a way that
in the first 2 lectures we will actually look
into what is consumer behaviour, the basic
of the consumer behaviour.
In the next 3 lectures we will actually look
at those psychological factors which actually
shape consumers decision in the market.
How does consumer decide in the market, and
decide to buy a particular product and leave
some product behind.
In the third section, we will be looking at
those psychological factors which actually
make consumer behave in the market place differently
from other consumers, and these factors are
memory, factors like learning, factors like
consumer motivation, consumer mood, consumer
involvement, things like consumer attitude,
and other things like how a communication
message is reached to you, things like consumer
perception, so all these psychological factors
get together to help a consumer actually make
a decision.
So the content of this overall course, as
it moves from the first to the last section,
we will mainly be focused on all those psychological
variables which are there and how these psychological
variables actually make a better consumer
and a better world and a well suited market
place.
Welcome to this course, and we will continue
from the next section onward the lectures.
Thank you.
