Business psychology is an interesting subject with vast implications in today’s business world. It helps in investigating how make make purchase decisions concerning their psychological preferences and behaviour. It helps businesses to make changes according to people’s minds and preferences. This branch of science uses research methods to study people and organisations so that a better alignment between the two could be made to meet their needs. Similarly, consumer behaviour is the study of individuals and organisations in which the methods they use to select, utilise, and dispose of products and services. The experiences and ideas which help in satisfying the customers are studied. Henceforth, business psychology and consumer behaviour are often studied simultaneously as they are interdisciplinary.

In today’s world of academics and business, business psychology is greatly used in dissertations because more research is required to understand consumer behaviour and ultimately to flourish businesses so that the demands and needs of both customers and businesses are met. Nevertheless, sometimes this branch of science gets difficult to understand due to its vast practicality, therefore, if you need help with business psychology dissertation topics then hire an expert. Professionals of business psychology can help you in a manner which no one else can. However, this guest article will help you understand the psychological factors that affect consumer behaviour. 

The theoretical context of business psychology 

Let’s first understand the theoretical framework used in business psychology.

Organisational culture 

Values, belief systems, and practices of organisations are defined as organisational culture. All these practices are widely used by the employees working in the organisation. 

Leadership 

To successfully run an organisation, leadership is an essential part of it. It also then helps in understanding business psychology with the help of effective leadership.

Decision making 

It is one of the key concepts in business psychology because effective decision-making is crucial after understanding the cognitive processes and avoiding biases and errors.

Training and development 

In business psychology, training and development is essential because in this way employees get to learn new skills and knowledge which they can employ in the workplace to become better off.  

Job satisfaction 

Learning about employees is equally important as learning about customers. It will help in improving motivation, engagement and turnover which will indirectly help in customer satisfaction. 

Customer service 

Another important concept of business psychology is about understanding customers so that they can be served in a better way. After learning about the customer’s preferences, organisations develop strategies to improve customer service and build relationships with customers. 

Psychological factors affecting consumer behaviour 

There are several factors which affect consumer behaviour. Here you will find some basics of these factors for a dissertation, to fully understand them with practical knowledge seek dissertation help services from professionals. Let’s delve into some basics of psychological factors affecting consumer behaviour. 

Need recognition 

Need recognition is the first step of the buying process. when a customer is aware of his needs only then he can get into actual buying of the product or service. 

Research alternatives

Once a customer is aware of his need, he will develop alternatives to choose from. 

Contemplating the options

After developing alternatives, it is time to select one which is most feasible according to personal preferences. 

Purchase decision 

Once a final option is selected, it is time to purchase. It is when buying behaviour turns into action. 

Post-purchase evaluation 

Once a customer is done purchasing, he will now evaluate the product or service. he will judge whether it is worth buying and then he will recommend the service, product or brand to other friends or family. If he will not be satisfied then a negative word of mouth will be generated. Otherwise, a good experience will result in a re-purchase and positive word of mouth. 

Emotional Factors influence on consumer behaviour 

Emotional aspects are also very crucial when it comes to consumer behaviour. People impulsively buy certain products and services. Let’s discuss some of the emotional factors influencing consumer behaviour. 

Brand attachment 

Oftentimes, people build an emotional bond with a brand. Such connection is often unique and is different for every person. When customers have such kind of emotional attachment to a brand, they buy most of the products or services of that brand without any logical reasoning or even need. 

Marketing appeals

Marketing appeals provoke emotional responses for their target audiences due to which people are convinced to buy a product or service. 

Product responses 

Responses to a particular product or service vary significantly. therefore, marketers learn a lot by observing consumer responses towards a certain product. 

Social influences 

Society plays a key role in consumer behavioural response. It refers to changes in feelings, thoughts, and actions after interacting with other members of the society. 

Pricing strategies

Some customers are highly price-sensitive. When marketers learn about it then they set prices accordingly including the cost of production, desired sales volume and profit margin, market conditions, and competition. If there is no emotional attachment with the brand then price sensitivity gets high. 

Practical implications for business psychology 

To promote and flourish a business, business strategies must be practically employed. Some practical implications to be used in dissertations are as follows. 

Improved collaboration 

It is crucial to manage knowledge as well so that employees are well-versed with the relevant information and expertise to serve customers. 

Knowledge sharing

Once the employees are well-versed, it is important to share that knowledge with other workers who are either new or not aware of the information. Such knowledge sharing will help employees feel empowered, therefore, the turnover rate will also be reduced. 

Conclusion 

To conclude, business psychology is a branch of science which is nowadays very popular to learn as it helps businesses to flourish and grow. Understanding consumer behaviour is the key to promoting businesses. Psychological factors which intervene in making decisions must be studied so that the preferences of customers can be understood for better customer service. Henceforth, choosing business psychology dissertation topics is quite interesting and research-worthy.