Engagement › Marketing · 2 of 4
Consumer Psychology
By RISE Business Framework · Created by Gary Harper and Brandon McCurdy · Reviewed
Consumer psychology is the study of the thoughts, feelings, motivations and behaviors behind buying decisions. In RISE, a matrix crosses four consumer mindsets with four spending categories. Each cell prescribes tactics, such as smaller pack sizes for budget-conscious buyers or payment plans for buyers who live for today.
How RISE does it
- Research why customers make the buying choices they do, then adapt your messaging.
- Mindsets: Slam on the Brakes, Pained but Patient, Comfortably Well-Off and Live for Today.
- Spending categories: Essentials, Treats, Postponables and Expendables.
- The research can surface product improvements and emerging trends to target.
Consumer Psychology is one of four tools in Marketing, part of the Engagement quadrant of the RISE Business Framework.
The RISE tool
Consumer Psychology matrix (sample tactics)
One tactic per cell from the RISE matrix. The full worksheet lists several per cell.
| Mindset | Essentials | Treats | Postponables | Expendables |
|---|---|---|---|---|
| Slam on the Brakes | Offer smaller pack size for less | Advertise as a small indulgence | Offer layaway plans | Offer do-it-yourself alternatives |
| Pained but Patient | Offer lower-priced options | Reward loyal consumers | Promote repair service | Continue awareness advertising |
| Comfortably Well-Off | Continue awareness advertising | Emphasize outstanding quality | Promote savings from buying now | Enable discreet purchasing |
| Live for Today | Remind consumers 'You can't live without it' | Promote as opportunity to seize the moment | Offer monthly payment plans | Offer exciting new products |
“Consumer psychology is fundamental in understanding purchasing behaviors and adapting business strategies accordingly.”Gary Harper
AI RISE Coach
Work through Consumer Psychology with the AI RISE Coach
“Walk me through Consumer Psychology in the RISE Business Framework and help me apply it to my business.”
Quick self-check
“We have consistent company messaging that carries through to all of our marketing materials and creative.”
Frequently asked questions
How does consumer psychology affect marketing?
It tells you why people buy. Once you know a buyer's mindset and how they rank your product, you can choose the right price, offer and message.
How should I market when customers are cutting back?
For Slam on the Brakes buyers, RISE suggests emphasizing price on essentials and shrinking sizes on treats. Offer layaway or low-cost financing on postponables.
The other tools in Marketing
- Analyzing a ProductRate each product on how scalable and how profitable it is, then take the action the 9-Box prescribes.
- Writing a Marketing PlanSet audiences, objectives, budget, channels and a timeline, then track a KPI at every stage of the journey.
- A/B TestingRun two campaigns side by side and compare them on eight measures to find what works.
Related in another quadrant: Finance
