GBUS 8304 CONSUMER PSYCHOLOGY

 

 

Because business success begins with understanding what consumers want and need and ends with consumer satisfaction, a clear understanding of consumer psychology is essential to successful marketing. This course examines the basic concepts of consumer psychology and the application of those important concepts to marketing decisions. The goal of this course is to introduce students to these important concepts and, unlike the course in consumer marketing, focus on the factors that drive the consumer decision-making processes in order for students to understand how marketing strategies and tactics can affect those processes. Topics covered include the formation of attitudes, the role of self-image in consumer behavior, understanding emotions and how they affect decision making, memory formation, and certain biases that emerge and influence strategies and the mechanisms by which they work. The course is built on a lecture and discussion format.

 

Academic course objectives:

 

·         Analyze marketing problems

·         Determine marketing strategy

·         Anticipate consumer reactions to marketing tactics

·         Enhance the effectiveness of marketing tactics

 

Elements of the course grade:

 

Class contribution                               15%

Final examination or paper option      40%

Three individual papers                       45%