Matching, Demand, Maximization, and Consumer Choice

The use of behavioral economics and behavioral psychology in consumer choice has been limited. The current study extends the study of consumer behavior analysis, a synthesis between behavioral psychology, economics, and marketing, to a larger data set. This article presents the current work and results from the early analysis of the data. We discuss choice patterns of consumers in terms of matching, maximization, and demand, and the study applies behavioral psychology to consumers, observed choice patterns. Strong support is shown for matching as well as maximization and support of the mutibrand patterns observed by Ehrenberg (1988) and colleagues. Demand patterns observed are generally downward sloping, although some exceptions are found. Similar results are found in earlier studies, and conclusions are positive in the possible marketing uses of consumer behavior analysis.