Knowledge at Wharton: How did you get involved in this area? And we don’t care why.” Today, however, retailers are much more interested in understanding the “why” behind consumer behavior. For a long time, we were quite comfortable with just observing consumer responses and saying, “Well, we put up a sale sign and consumers buy. There’s definitely an understanding amongst marketers about the need to understand the mindset of the consumer and what’s going on in that black box. Vanessa Patrick: Yes, this is a great time to be a consumer psychologist. Knowledge at Wharton: If we went back 10 years, I don’t know how many people would have really guessed that the role of consumer psychologist would ever be an important part of the retail industry, but it seems that now more than ever, chains need to have that psychological viewpoint on who their consumers are. The interview aired on the Wharton Business Radio network on SiriusXM Channel 111.Īn edited transcript of the conversation appears below. She recently joined the Knowledge at Wharton show to talk about what’s going on in the minds of consumers, the nature of aesthetics and other undercurrents to buying and selling. Patrick, a marketing professor at the University of Houston, researches this area of psychology. But consumer psychologist Vanessa Patrick says that what goes into the thought process of consumers before they decide to purchase is important too. Retailers are increasingly mining Big Data for insights into their customers. Motivator in Chief: Getting the Most from Your Team May 17, 2022Ĭonsumer psychologist Vanessa Patrick delves into the mind of the customer.Succeeding with Hybrid Work: Focus on Five Cs June 22, 2022.Vigilant Leaders: Paying Attention to What Matters Most July 25, 2022.See It My Way: Top Tips for Persuading Others August 9, 2022. ![]()
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