How the psychology of choice affects consumer buying decisions?

Consumers love to choose and love everything is open to them as a kind of endless list of options. At the end of the day, that’s what we like Internet and now if we stepped outside to ask passers – by what they like network quickly stoop to those points. Internet like it because it has made options for accessing content is endless. All the knowledge we want is there, just a click away. We can choose what we read and we can choose when. We can choose everything. It is what happens with large firm’s eCommerce (We can choose from millions of products!) Including VoD services (Thousands of episodes of series!) Or problematic (accounts do not give them very good) reading services cloud (So many books that we can read!). what makes them attractive is that possible choice, we can choose a lot … but in the end we stay only a few elements and with a few options.

Studies have shown that having many options at our disposal, the power to choose between many products, does not make us happier really the consumer who plunges into some anxiety about what you choose and what will happen once the choice is made. In fact, sometimes, the oversupply can function as a demotivating element and as a crippling issue. Faced with too many possibilities, frustrated having to choose among so you do not know where to throw.

How the psychology of choice affects consumer buying decisionsThe issue has a lot of paradox but it is one of the complex realities that have to manage brands when interacting with consumers. Amazon has an algorithm to choose what you want to buy for you through recommendations of ‘you might like to this’ or ‘this is what you bought who took that book’. Netflix has a home edited (by algorithms also) indicating things that you might like to see and Scribd makes it easier to find what to read is navigate between recommendations rather than start looking titles. The choice is infinite in theory, but in fact is much chewed.

An investigation showed that a grocery store wins when offers fewer options to choose from. They subjected their consumers to be able to choose between 24 types of jams and then only 6 options. When there were only 6 options, 30% of consumers bought at least one jam. When you were 24, the conversion was only 3%. And a study of Kantar pointed out not long ago that supermarkets would rationalized their offer them much better. It was not just that became more efficient both in producing and replenish the products, but also came into play consumer frustration. Supermarkets gain market could eliminate some brands (although doing with care: favorite should never disappear).

Why do we paralyze the options?

Psychology also explains quite clearly what happens. Consumers, excess options paralyze them because it broadens opportunities it wrong. The more products there are, the more possibilities there are, the easier it is to pick the wrong and therefore it is easier not to choose any and leave that mark. What that terrified us to discharge a fee telephony? With so many possibilities, it was overwhelming pick one and one is always left with the feeling that I was paying more and more than anyone. It is therefore not surprising that telecom operators have begun to simplify how they offer their prices.

Brands have to be very aware of these problems and how the psychology of choice affects purchasing decisions. Choosing is difficult, paralyzing, and to succeed brands need to provide tools that help limit fields and make everything easier. It is what eCommerce firms, for example, the filters that limit what you are looking to buy. We are danto a shortcut to limit the stress of purchase.

The decision is not such

One of the key elements to use the psychology of decision is also playing with creating the idea that is being allowed to choose when in fact it is not rather than limiting consumer and pushing where the brand wants to be. It is, as explained in the analysis, what teachers do with children when they say they can choose to do for a while if you spend the time before the teacher wants to do what he wants to do. You can play a quarter hour if you do these duties before, they promise them. The student believes are enabling choose, when they are actually being manipulated to choose what they want to be chosen.

The same happens when these principles of consumer psychology apply. One of the elements which is employed is when price marking. English known as the decoy effect, which could be the lure effect. Several pricing options that make it the preferred choice of brand is the one that works best and looks best given. It’s what they do, for example, newspapers when selling subscriptions to its content. There is always a comparison that seems very expensive: is there so you can see the potential of the newspaper wants to sell.

The consumption irrational element

Often decisions are not made by rational issues, but rather by elements beyond it and which fall within the list of emotional. We consume a product or a service because it is associated with our favorite store, the brand that we are faithful. Are small elements that make the difference and that make a consumer decant by a store or another, for a product and not by their competition? As explained in a column in Fast Company, it is what the consumer feels when you buy what differentiates one brand from another and one product from another. And therefore, to discover exactly what is unique about your product to the consumer clearly helps to highlight above others.

Brand, or product, you have to sneak into personal conversations as soon as possible, they say. It has to become part of the usual things, the reliable, the known, so that consumers not only always keep in mind that there are but also the right decision. Each time the consumer back to that product or brand that not only consumes that product or brand, but also reinforce the idea that this is the most appropriate option.

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