ABSTRACT
Modern developmental psychology is concerned with the life-long development of people, where it includes the interaction of the individual with the environment. Developmental psychology takes into consideration the influence of both genetic disposition and environmentally determined factors on the development of human thought, feeling, and behavior. A large portion of modern research in cognitive development is based on the research work of the psychologist Piaget. In the Piaget tradition of developmental psychology, a whole range of empirical studies have been conducted with regard to the development of understanding in the area of economic relationships and concepts. It clears that customer behavior is a life-long development process. In the connection the insights of developmental psychology can be and are being used by various institutions. It applies to the development of new products, the consolidation of an enduring customer relationship, and the development of approaches that facilitate a critical consumer education.
