Consumer Psychology Research Articles

An Analysis of Luckin Coffee's New Marketing Model from the Perspective of Behavioral Finance

With the development of Internet technology, Luckin Coffee has transformed the traditional value creation model, driven by customer value as the goal, and established its brand effect in a short period of time through financing. However, the excessive and rapid expansion led to financial crisis, which caused it to fall into the negative vortex of financial fraud, and finally returned to the consumer market at the cost of delisting and restructuring in the United States. After returning to the market, Luckin Coffee changed its business operation model, and the reform of the new marketing model focusing on products and customers made its financial turnaround and rebuilt its brand value. How does Luckin Coffee take advantage of consumers' psychology and guide their consumption preferences? Based on the perspective of behavioral finance, this paper analyzes how the operation management team of Luckin Coffee reconstructs its marketing methods and paths by utilizing the anchoring effect of consumers, limited attention transactions and herd effect. The research conclusion shows that the new marketing model with consumer demand caused by consumer psychology as the core can effectively and rapidly increase the number of new customers and improve customer retention. Luckin Coffee has also quickly passed the crisis after delisting and restructuring, and its business performance and corporate value have also gradually increased. The brand value has returned to the vision of consumers, and the future is promising.

The Popularity of Korean 3ce Beauty Products for Female College Students - Take Wuhan Media College as an Example

With the development of the internet and global technology, multinational beauty products have also had a certain position in the Chinese market. The sales rate is also gradually rising. Korean beauty products have also won the love of Chinese consumers because of their fashionable design and good marketing strategy, and have caused a boom among female college students. The female college students of Wuhan Media College are a group of young and fashionable women, and they have become the ideal object of this study. The geographical location and economic development level of Wuhan as a city in central China are very good conditions for the development of Korean beauty products. This article aims to explore the phenomenon of female college students of Wuhan Media College pursuing Korean beauty brand 3ce, analyze consumer psychology, market positioning and marketing strategies, and understand the needs and behavior characteristics of female college students of Wuhan Media College for Korean beauty makeup through the collection and analysis of questionnaire survey data. The study found that the purchase of the Korean beauty brand 3ce by female college students of Wuhan Media College is mainly affected by social media marketing, product design and cost performance. The research results of this article have certain reference value for understanding the consumer psychology of young consumers and the following market trends.

Personalized Marketing: Segmentation of Consumer Groups Based on MBTI -- Taking Starbucks as an Example

This paper studies the internal logic of the major brands represented by Starbucks adopting this marketing method, and explores how the brands transform the hot topics on the Internet into hot consumption spots and attract consumers through personalized marketing strategies. At the same time, this paper will also focus on the possible problems in the process of personalized marketing, and put forward relevant suggestions. In fact, due to the rapid development of modern information technology and increasingly fierce market competition, enterprises should implement precision marketing, select clear market segments as target markets on the basis of market segmentation, gain in-depth insight into consumer psychology, and tap consumer demand. With the help of MBTI personality test, enterprises can accurately and quickly locate consumer groups, identify the market, and maximize corporate benefits. At the same time, as the social consumption decision-making currency in the new network era, it is closely related to the individual needs of consumers. When enterprises grasp the personality characteristics of consumers and formulate marketing strategies, consumers' loyalty to the brand is greatly enhanced, and the marketing efficiency of enterprises is also greatly improved. Therefore, the segmentation of consumer groups based on MBTI has far-reaching research significance, and this marketing strategy will play an important role in the future corporate marketing.

Mapping collective consciousness to consumer research: In‐person to virtual social presence

AbstractShteynberg's (Journal of Consumer Psychology, 2024) work on collective consciousness offers unique and meaningful insights into consumer behavior by emphasizing a “we‐representation” that is comprised not of a self‐aware “I” and an external “you” but rather complete immersion as a unified “we”. In this commentary, we situate collective consciousness within existing social presence research in consumer behavior and discuss its potential to expand the scope of social presence research. Specifically, we utilize a social presence framework that highlights the type of co‐presence (in‐person vs. virtual) and the extent of interactivity (interactive vs. passive) discussing the psychological mechanisms and linkage to collective consciousness. In addition to discussing shared consumption and shared decision‐making, we assess the implications of collective consciousness for consumer contexts facilitated by virtual technologies: fake news, live streaming, virtual reality, cryptocurrencies, and crowdfunding. We conclude by highlighting future avenues for integrating collective consciousness into consumer psychology research.

Analysis of SHEIN Brand's Success in Overseas Markets Online from the Perspective of Consumer Psychology: Key Factors of Social Media Marketing

Analysis of SHEIN Brand's Success in Overseas Markets Online from the Perspective of Consumer Psychology: Key Factors of Social Media Marketing

Collective consciousness and consumer behavior

AbstractWe build on the construct of collective consciousness, which reflects a view that a person can see the self as the subject that is attending, experiencing, or acting as a unitary collective agent, that is, from the perspective of “we” as opposed to “I.” Shteynberg (Journal of Consumer Psychology, 2024) proposes that collective consciousness can foster mutual trust and cooperation, thus having positive implications for both individuals and society. In this commentary, we discuss what the construct of collective consciousness might have to offer consumer researchers by considering when collective consciousness could be relevant in consumer contexts, its key psychological consequences, and how this theory could potentially build upon and interact with existing frameworks in consumer psychology. In addition, we consider some potential negative consequences of collective consciousness and point to potentially fruitful directions for future consumer research.

Analyzing the Marketing Strategy of Pop Mart in Overseas Market

The rapid expansion of the Internet and the widespread spread of global businesses have both contributed to Pop Mart's decision to expand its operations into international markets. Using Pop Mart's current development state as a foundation, this research explores the possibilities for the company's future expansion and improved market position in international markets. This study fills a previously existing gap in scholarly research about Pop Mart's foreign marketing strategies. According to the findings of the study, Pop Mart possesses substantial potential for expansion in international markets. Pop Mart can leverage this potential by implementing three crucial strategies: understanding consumer psychology, prioritizing product design and innovation, and enhancing the brand's digital media promotion. In order to provide Pop Mart with important insights for its future expansion in the worldwide market, this research analyzes and makes recommendations based on three aspects that are considered to be of fundamental importance. The purpose of this study is to provide an objective analysis that helps connect researchers and scholars interested in analyzing the international market for Pop Mart.

The Psychology of Consumer Behavior during Economic Recessions and its Impact on Political Attitudes

This study examines the intricate relationship between consumer behavior during economic recessions and subsequent shifts in political attitudes. Using quantitative and qualitative study, we analyzed data from 1,000 participants across diverse demographic groups during the 2008 and 2020 economic downturns. Our findings reveal significant correlations between changes in consumer spending patterns, psychological factors such as risk aversion and economic anxiety, and evolving political ideologies. The results suggest that economic hardships lead to increased conservative fiscal attitudes and a preference for protectionist policies. This research contributes to our understanding of the complex interplay between economic conditions, consumer psychology, and political landscape, offering insights for policymakers, marketers, and social scientists.

The luxury goods market: Understanding the psychology of Chinese consumers

The objective of this research is to construct a multifactorial model facilitating the assessment of the interrelation between aspects of Chinese consumers' attitudes towards luxury items and their psychological intent to acquire such goods. The paper presents a factorial model of the evaluation system, which encompasses factors such as luxury brand awareness, materialism, social comparison with peers, fashion novelty, and consumer engagement with fashion. The research findings indicate that: (1) there exists a positive correlation between the attitudes of Chinese consumers towards luxury items and their intention to acquire them; (2) Chinese consumers, overall, tend to disregard fashion innovations as a significant factor in luxury item purchasing decisions; (3) however, materialism as a motivation for conspicuous consumption and status has become a pivotal stimulating factor; (4) substantial influence is also exerted by the impact of luxury item acquisition on the owner's social status; (5) individuals possessing knowledge of fashion trends demonstrate a higher propensity to acquire luxury items. Theoretically, this study contributes to the broadening of the understanding of luxury goods consumption within the context of the Chinese market. This contribution holds value for researchers of this market, as well as those examining other regional markets, facilitating a comparative analysis of consumer behavior factors. From a practical perspective, the model is oriented towards expanding the toolkit available to managers and marketers. It enables an understanding of the psychological motives attracting Chinese consumers to the luxury goods market. This understanding, in turn, facilitates the formulation of an effective strategy for introducing new items into this market.

Revolutionizing consumer insights: the impact of fMRI in neuromarketing research

This study performs a comprehensive bibliometric (performance analysis) and thematic content analysis of global research in "neuromarketing or consumer neuroscience" and "functional magnetic resonance imaging or fMRI." Utilizing the PRISMA framework and R package software, we analyzed thirty-six Scopus-indexed articles. The USA and California Institute of Technology emerged as leading contributors, with Rangel, A., and Reimann, M., as notable authors. Prominent themes include 'advertising,' 'product,' 'price,' and 'brand', with the “Journal of Consumer Psychology” and “Journal of Neuroscience” being key publications. The most cited article is "Marketing actions can modulate neural representations of experienced pleasantness," with 620 citations. In addition, fMRI has been used to study consumer behavior (impulsiveness, reward, emotion, decision-making, and memory) toward marketing stimuli such as price (WTP), advertising (celebrity endorsement, MSV), product (packaging design), and brand (Halal logo, label, and personality). This study provides an invaluable literature review matrix and detailed insights into the current trends in global neuromarketing research utilizing fMRI. This study highlights the significant impact of fMRI in both academic and commercial realms, offering new insights for targeted marketing and consumer behavior research. It provides valuable guidance for developing more effective advertising strategies, understanding consumer decision-making processes, enhancing business performance, and collaborating academically.

Toward an inclusive metaverse: maneuvering between acceptance of disability and need for uniqueness

PurposeWhile there has been a growing interest in the field of Metaverse-related research, its impact on vulnerable segments of the population, particularly those with special needs, is yet to be fully examined. This research develops the underlying scant theoretical knowledge related to the attachment of people with disabilities to the Metaverse and its effects on their need for uniqueness and acceptance of disability, and hence their sense of inclusivity and overall well-being.Design/methodology/approachThe study adopted a quantitative approach using an Internet-based survey. The sample size consisted of 530 Metaverse users with a physical disability in the USA. The proposed model integrates virtual place attachment alongside disabled consumers' need for uniqueness, and acceptance of their physical disability. SPSS and LISREL were utilized for data analysis and SEM.FindingsThe study underscores the complexity of the interplay between virtual place attachment, disability acceptance and the need for uniqueness among physically disabled users in the Metaverse. It investigates how the attachment to virtual spaces by people with disability influence their psychological well-being.Originality/valueThis research adds to the interactive marketing and disabled consumer psychology literature exploring the theoretical and practical implications from an attachment and need for uniqueness theory perspectives.

Sketching a comprehensive picture of the marketing discipline: a bibliometric analysis covering eight top-tier journals

Purpose This study aims to examine marketing trends spanning a period of 26 years to scrutinize North American influence in marketing research, as well as enhance comprehension of interdisciplinary marketing knowledge and identify prominent scholars, universities, countries, and articles that warrant further scholarly exploration. Design/methodology/approach This paper uses bibliometric methods to analyze the publications of eight top-tier journals (Journal of Marketing, Journal of Consumer Research, Journal of Marketing Research, Journal of the Academy of Marketing Science, Marketing Science, Journal of Retailing, Journal of Consumer Psychology and International Journal of Research in Marketing) between 1996 and 2021, as found in the Scopus database. Findings The findings indicate that North American hegemony in the marketing discipline continues and that the impact of marketing on other disciplines remains controversial. Some universities have a deeply rooted tradition of marketing departments. Some articles from 26 years ago are still frequently cited. Research limitations/implications The study covers the period from 1996 to 2021. It includes only articles, uses a single database and is cross-sectional. Future research should explore longer time periods by using various databases for comprehensive analysis. Originality/value To the best of the authors’ knowledge, this study constitutes one of the first attempts to understand the scholarly contributions of the marketing discipline by considering eight top-tier journals.

EFFECTIVENESS OF DIGITAL MARKETING STRATEGIES OF NETWORK MARKETING COMPANIES ON CONSUMER PSYCHOLOGY

The rapid advancement in digital technologies has transformed the landscape of marketing, leading to the widespread adoption of digital marketing strategies by network marketing companies. This research paper examines the positive impacts of digital marketing strategies on consumer psychology and sales performance within network marketing companies. Utilizing a sample of 259 respondents, the study employs quantitative analysis to explore how digital marketing initiatives affect consumer engagement, brand perception, and purchasing decisions. The study highlights that personalized digital marketing strategies significantly enhance consumer engagement, influencing their perception of brands and increasing their likelihood of making purchases. Additionally, the research identifies a direct correlation between the frequency of digital marketing campaigns and improved sales performance. Special promotions and interactive digital marketing tactics further contribute to consumer purchasing decisions and trust in network marketing companies. The findings suggest that effective digital marketing strategies can lead to higher sales and improved customer loyalty. This paper provides valuable insights for marketers looking to optimize their digital strategies to better meet consumer needs and enhance sales performance.

Pengenalan digital marketing dalam meningkatkan bisnis usaha mikro

Problems in online marketing knowledge for women farming groups include a lack of understanding of effective digital marketing strategies and limited technological accessibility, which hinders optimizing digital marketing and increasing farmers' income and business opportunities. The solution to this problem is to provide online marketing knowledge and skills for farmers through a comprehensive training and mentoring program. This program includes understanding digital marketing strategies, the use of online platforms, engaging content, and consumer behavior. Training helps women farming groups face online marketing challenges. The material is presented in simple and accessible language, and collaborative workshops strengthen farmers' knowledge and skills.

What Is Next for Consumer-Based Brand Equity in Digital Brands? Research Itineraries and New Challenges

Considering the expanding e-commerce in the social media landscape and the increasing importance of brand management in the online sphere, our primary goal was to comprehensively review existing research on consumer-based brand equity in digital brands. The current post-pandemic environment has seen a significant surge in digital presence, particularly on social networks and e-commerce platforms. Although the available literature provides an overview of brand equity in general, digital brands have taken center stage in consumer interactions on social media, becoming highly commercialized in virtual environments and, recently, gaining significant value in financial markets. However, there is still a lot to uncover regarding the research trajectory for these brands. Using the PRISMA protocol, a corpus of 258 articles was obtained from the Web of Science and Scopus databases, with Journal Impact Factor and CiteScore impact factors. The bibliometric analysis for mapping the production was performed using SciMat, VosViewer, and Biblio-metrix software. According to the results, we found that consumer-based brand equity in digital brands is strongly linked to online consumer behavior variables, particularly engagement, electronic word-of-mouth, communication effects (such as social media advertising), impacts on various metrics, and applications in specific contexts. Overall, our research shows that the brand equity of digital brands is studied similarly to non-digital brands. Still, their virtual origin and their exposure on social media have increased consumer appreciation for them. The main studies and trending topics were discussed, providing a foundation for a research agenda regarding new challenges and approaches of consumer-based brand equity in the digital market.

When consumer decisions are moral decisions: Moral Foundations Theory and its implications for consumer psychology

AbstractAlthough researchers have considered the role of morality in consumer psychology over the years, such investigations often fail to (a) recognize the different values that consumers might hold, and (b) provide proper context for why different moral considerations emerge. Moral Foundations Theory (MFT; Graham et al., Advances in experimental social psychology, 2013, Academic Press; Haidt & Joseph, Daedalus, 2004, 133, 55) provides just such a conceptual framework for understanding the diversity of moral thought that exists across cultures and demographic groups. MFT describes morality not as a monolithic entity, but as a pluralistic set of intuitive values that were shaped by evolutionary pressures and edited by distinct cultures. We review the central claims of MFT and describe how the theory can offer new insights when applied to consumer psychology, providing examples from existing research on persuasion, emotion, and prosocial behavior.

What moral identity and competing selves can add to moral foundations theory: Comment on Ramos, Johnson, VanEpps & Graham (2024)

AbstractIn a provocative and insightful analysis, Ramos et al. (Journal of Consumer Psychology, 2024) propose the introduction of Moral Foundations Theory (hereafter MFT)—as a useful framework to (1) explain moral consumer decision‐making more granularly and (2) set forth unique, testable future hypotheses in the field of marketing and consumer psychology. I discuss and build on their analysis to expand (1) but also narrow (2). I couch their conceptualization in the context of a multiple‐identity framework (Consumer Psychology Review, 2021, 4, 100) and move slightly away from their useful but perhaps more taxonomic approach. I try to buttress their work by situating MFT in the context of how the process of moral identity (Journal of Personality and Social Psychology, 2002, 83, 1423) competes with other identities (cf. Journal of Marketing Research, 2020, 57, 375; Current Opinion in Psychology 2016, 10, 94) to help determine when and how the building blocks of moral foundations may become critical drivers of consumption in the areas of persuasion, emotions, and prosocial charitable consumer behavior.

Comparative Analysis of Impulse Buying Behaviour Across Retail Channels: A Study of Physical Stores, E-commerce Websites and Mobile Shopping Apps

"The nuanced dynamics of impulse buying behaviour across diverse retail channels unveil a fascinating interplay between consumer psychology and the unique attributes of physical stores, e-commerce platforms, and mobile shopping apps. Delving into the intricate landscape of impulse buying behaviour across three prominent retail channels, namely physical brick-and-mortar stores, e-commerce websites, and mobile shopping applications, sheds light on how retail environments shape and influence impulsive buying behaviours. Employing a comprehensive research framework that encompasses the realms of behavioural psychology, astute marketing strategies and the nuanced analysis of digital interfaces unveils the underpinnings that drive impulsive purchases in each distinct retail environment. By means of meticulous data collection and rigorous scrutiny, this research discerns the unique determinants of impulsive buying behaviour, encompassing consumer motivations, environmental cues and the pivotal role of technology becomes apparent. The comparative analysis not only enriches understanding of the impulse buying phenomenon but also provides actionable insights for retailers and marketers keen on creating bespoke strategies tailored to the specific attributes of each retail channel. Presenting realistic implications for businesses seeking to optimize consumer engagement and bolster sales in today’s multifaceted retail landscape, the recognition of the varied triggers behind impulse buying across different platforms empowers retailers to cultivate precision-targeted approaches that deeply resonate with their intended audience, thereby amplifying the efficacy of their marketing endeavours. Undertaking an exhaustive comparative analysis of impulsive buying behaviour"

Of happy larks and unhappy owls: Why morning versus evening types feel different levels of happiness from experiential versus material purchases

AbstractPeople can identify as morning types or evening types. Research has shown that evening types are generally less happy and have a lower sense of well‐being. While there is limited research in consumer psychology on chronotypes, one question may be asked: Would they gain from the experiential advantage (where people elicit greater happiness from experiential vs. material purchases) and become happier? We find that evening types, in fact, elicit lower levels of happiness from their experiential purchases compared to morning types and, in effect, feel happier from their material purchases. Furthermore, this is because of the greater subjective distance they feel from their experiential purchases. This research contributes to our understanding of long‐term happiness in a significant section of society—evening types and also calls on researchers to explore the topic of evening chronotype happiness and well‐being in greater depth from a marketing perspective.

The relationship of consumer psychology and consumer experience to consumer satisfaction and organisational performance: literature review

The relationship of consumer psychology and consumer experience to consumer satisfaction and organisational performance: literature review