Business Environment and Society Buyer Behaviour Essay

Business Environment and Society Buyer Behaviour - Essay Example The possessions that we have to tell much about us and the psychology behind consumer behavior hence should be central to understanding consumer behavior. This is mostly because people use possessions to define themselves or create their identities (extended self) especially in contemporary society based on materialism. As such, we are what we have and possessions are an extension of our selves. This has implication for marketers as they should strive to understand the value attached to possessions by consumers in order to develop effective marketing strategies. There are many theories put forward to explain customer behavior. Economic theory views the customer as a rational and self-interested decision maker hence consumes to maximize utility. The theory thus concentrates on the buying action. The psychodynamic approach is attributed to Sigmund Freud (1856-1939) and posits that the instinctive forces of Id, Ego, and Superego are drivers of behavior. The behaviorist theory views beha vior as being driven by external forces or events. The cognitive theory attributes behavior to information processing in one’s mind while humanistic theory stresses the role of emotions in consumer behavior. This essay will utilize the theories of consumer behavior to discuss the concept of extended self and its effects on consumer purchasing behavior. The idea of extended self is based on the fact that we are what we have; that is, we define ourselves based on the things that we possess. Belk (1988, 139) argues that â€Å"our possessions are a major contributor to and reflection of our identities.† He came up with this conclusion after collecting a variety of evidence and regarded it as the ‘extended self.’ The major categories of extended self according to Belk are a body, internal processes, ideas, experiences and those persons, places and things to which one feels attached.