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Infographic Delves into the Depths Consumer Psychology

By: Tia Clarke - Published: Jan 25, 2013 • References: psychologytoday.org and bestpsychologydegrees.org
This infographic dishes some incredibly useful secrets behind consumer psychology. By delving deep into subjects like why consumers choose particular products, the study finds that simplifying the options available to people actually leads to more customer satisfaction. The study finds: “People want as many options as possible, but want to be able to decide what to buy as easily as possible,” and ascertains that “choice is an illusion.”

The study also reveals that one of the most powerful tools marketers have is compiling detailed information on their customers and studying shopping behavioural patterns, which can maximize sales and efficiency. The study concludes with the advice for consumers to become ‘satisficers,’ being happy with what you’ve got, as opposed to a ‘maximizers’ who are constantly seeking something, engaging in upward comparison and are therefore less happy than ‘satisficers.’