BizSugar.com › Customer Service › Buyer Science: Who are They… and What Do They Want?

Marketing psychology focuses on human behavior and how it affects marketing decisions. Marketers can use psychology to create a more effective marketing strategy. Behavioral economics is the study of psychological, social, emotional and cognitive factors that influence economic decisions, and how those decisions affect returns on investment, market prices and resource allocation. Together, these two areas provide insight into the mind of consumers and new ways to increase profits.