Page 51 -

Science of How
Consumers’ Buying
3 Changes over Cycles

The first step in understanding consumer behavior in any
particular economic cycle is to understand the fundamental
behavioral science of buying. In other words, what is the
essence of how customers behave regardless of economy
and then understand how that changes under specific eco-
nomic conditions, e.g. hard times.

For example: During the recent downturn, the disappear-
ance of disposable income drove a deeper concern related
to employment or the lack thereof. This hits at the core of
one’s safety and security. Thus, a consumer’s emotion can
quickly turn to the primal need to survive. Suddenly, rela-
tively affluent consumers are clipping coupons and going
to auto wreckers. During a boom period, these behaviors
would seldom happen. That primal need for survival, or at
least the fear associated with it, virtually evaporates and
other priorities take its place. But what priorities? And
when? That is why it’s essential for businesses to thor-
oughly understand the science behind customer buying
decisions.

At the simplest level there are two core emotions that
drive our propensity to consume. These are: greed and fear.
However that is just the starting point.

There are Three Primary Dimensions (Sciences). These
are: