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What is Peer Influence

Navigating the Shifting Landscape of Consumer Behavior
The choices and decisions made by individuals just to fit in or feel belong to their group.
Published in Chapter:
Understanding the Modern Consumer Mindset and the Psychological Elements Driving It
Astha Singh (PES University, India), Vedika Bhargaw (PES University, India), and Zidan Kachhi (PES University, India)
Copyright: © 2024 |Pages: 22
DOI: 10.4018/979-8-3693-1594-1.ch001
The chapter delves into the complex world of consumer behaviour, examining the profound impact of cognitive biases and social influences. In terms of cognitive bias, the issue unfolds through an examination of confirmation bias, anchoring bias, availability estimates, and endowment effects. These biases largely define decision-making, affecting how consumers perceive, interact with, and remain brand loyal. Methods for channeling and leveraging these biases have been clarified, enabling marketers to understand consumer behavior and adjust accordingly. Turning to social issues, the chapter reveals the dynamic interactions between peer influence, family traditions, word-of-mouth advocacy, social identity, and social norms and explores the role of social media in this development in the digital age. A thorough understanding of these social forces allows firms to develop strategies that align with customer values, preferences, and social expectations. The chapter emphasizes the importance of education in reducing cognitive biases and moderating social influences.
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More Results
Peer Influence Mechanism Behind Travel Experience Sharing on Social Network Sites
A form of consumer behaviour motivated or copied from others acting as role models.
Full Text Chapter Download: US $37.50 Add to Cart
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