Assignment Psychology

Assignment Psychology
Muhammad Shoaib
FA18-BBA-202-B
Submitted to;
Dr. Saleha Jived
Acquisition means buying a whole company, a patent, or a license to produce another

company's product. The other strategy refers to the firm's own new product development
efforts. When releasing a new product, do businesses think “how low can we sell this for” or
“how much can we sell this for”? Product extinction is essential a scenario in which
a product (or even a service, for that matter) become obsolete or outmoded. Such a trend may
arise for a variety of reasons.
The key to success in any business is an understanding of psychology. All human beings
essentially have the same mental triggers that drive actions. In order to influence and
understand your customers, you need to know what those triggers are and how to utilize
them in your marketing message. Why? Because our minds decide what to buy. So, if you
know how minds function, you have the power to influence the decisions they make. To
enter new product in a market is no so difficult in this modern era with the latest
marketing techniques and selling methods to survive in the competitive market. It will be
easier if we consider the psycho of our customers regarding our product.
Now we are going to launch a new product in a market and we will discuss psychology
perspective relating that product. I choose soft drink as a product named as “Splash”.
There are various ways to market this product. By a psychology perspective of launching
this product I should keep in mind four factors of psychology which are these;
Motivation
Buyer motivation is the set of psychological factors behind a consumer’s decision to

make a particular purchase. That purchase is the end result of a process referred to as the
“Buyer’s Journey” — a three-stage process consisting of:
 Awareness.
This is the primary stage of the journey, where a buyer becomes aware of a problem, want, or
need.
 Understanding Buyer Motivation:

Getting More of Your Ecommerce Customers to Checkout Buyer motivation is the set of
psychological factors behind a consumer’s decision to make a particular purchase. That
purchase is the end result of a process referred to as the “Buyer’s Journey” a three-stage
process consisting of awareness. This is the primary stage of the journey, where a buyer
becomes aware of a problem, want, or need. It could be the need to purchase a smoke
detector, or renter’s insurance, or anything for that matter.
 Consideration.
Once a buyer is aware of their problem (or want or need), they are then motivated to start
gathering information. At this stage buyers are considering their options, so providing any
product education resources like product specs, reviews, and other details will be greatly
appreciated.
1. Decision.
It’s at this stage where the buyer is motivated to make a final decision and has determined that
their needs have been met.
2. Learning
Firms in evolving new products must take into cognizance the impact of consumers learning
and all the Elements involved in consumer learning. Some consumers learn of a product’s
existence faster while others learn very slowly. Learning can be thought of as “the process by
which individuals acquire the purchase and Consumption knowledge and experience that
they apply to future related behavior
3. Perception
Perception may be defined as the process by which an individual select, organizes, and
interprets stimuli into a meaningful and coherent picture of the world. Mores, it can be
described as how we see the world around us. Individuals act and react on the bases of their
perception not on the basis of objective reality. Thus, to the marketer, consumer’s
perceptions are much more important than their knowledge of objective reality.
4. Personality
Personality refers to the unique psychological characteristics that lead to relatively consistent
and lasting responses to one’s own environment. Personality can be useful in analyzing
consumer behavior for certain product or brand choices. For example, coffee marketers have
discovered that heavy coffee drinkers tend to be high on sociability. Thus, to attract
customers, coffee houses and marketing companies need to create environments in which
people can relax and socialize over a cup of steaming coffee.
Development Association of soft drink “Splash”
Consumers are increasingly seeking out healthier beverages such as bottled water, RTD teas, and
vegetable juices to reduce caloric and sugar intake. Public health campaigns such as the UK’s
“war on sugar” have alerted consumers to high levels of sugar in many beverages. In addition to
a desire to reduce calories and sugar, consumers are looking for short lists of natural,
pronounceable ingredients. Many health conscious shoppers want to avoid artificial colorings,
flavorings, preservatives, as well as ingredients such as synthetic caffeine and taurine .At the
same time that many consumers seek to avoid artificial ingredients such as synthetic caffeine,
taurine and flavors in energy drinks, many still want the energy boost provided but in a more
natural format such as caffeinated waters and cold-brew RTD coffee that also contain fewer
calories and sugar than traditional energy drinks.
Age Group:
Boys consume significantly more soft drinks than girls. Young adult males aged 19–24 years are
the next highest consumers of soft drinks. As we know that soda is not good for children’s health
and the consumption of our product for children is low, so we should target the customers who
are above. There is intense competition between the major soda makers. Brands like Coke and
Pepsi that offer nearly identical products have to find ways to differentiate themselves from their
competition. Marketers rely on the complicated science of consumer psychology to help
establish clear identities for their brands. In order to understand the minds of their customers,
marketers rely on professionals like these.
Classical conditioning and operant conditioning are psychological reactions exploited by
advertisers to convince us to buy their products. In classical conditioning, consumers
respond to a stimulus in a particular, unconscious way. –In operant conditioning, advertisers
try to change consumers' behavior by using rewards or punishment. For example, by giving
consumers money back after buying a particular product. In classical conditioning, the
advertiser attempts to get consumers to associate their product with a particular feeling or
response, in the hope that the consumer will then buy the product.
Spontaneous recovery
It can be defined as the reappearance of the conditioned response after a rest period or period of
lessened response. If the conditioned stimulus and unconditioned stimulus are no longer
associated, extinction will occur very rapidly after a spontaneous recovery.

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Assignment Psychology

Acquisition means buying a whole company, a patent, or a license to produce another

Buyer motivation is the set of psychological factors behind a consumer’s decision to

 Understanding Buyer Motivation:

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