Factors Affecting Consumer Behavior

Factors Affecting Consumer Behavior

Consumer behavior refers to the selection, purchase along with consumption of goods along with services for the satisfaction of their wants. There are different processes involved inside the consumer behavior. Initially the consumer tries to find what commodities he could like to consume, then he selects only those commodities in which promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities along with takes the decision about the commodities he should consume. Meanwhile, there are various some other factors influencing the purchases of consumer such as social, cultural, personal along with psychological. The explanation of these factors is actually given below.

Factors Affecting Consumer Behavior

1. Cultural Factors

Factors Affecting Consumer Behavior

Consumer behavior is actually deeply influenced by cultural factors such as: buyer culture, subculture, along with social class.

Factors Affecting Consumer Behavior

• Culture

Factors Affecting Consumer Behavior

Basically, culture is actually the part of every society along with is actually the important cause of person wants along with behavior. The influence of culture on buying behavior varies by country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.

Factors Affecting Consumer Behavior

• Subculture

Factors Affecting Consumer Behavior

Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various little portions. For example marketers can design products according to the needs of a particular geographic group.

• Social Class

Every society possesses some form of social class which is actually important to the marketers because the buying behavior of people in a given social class is actually similar. In in which way marketing activities could be tailored according to different social classes. Here we should note in which social class is actually not only determined by income yet there are various some other factors as well such as: wealth, education, occupation etc.

2. Social Factors

Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role along with status.

• Reference Groups

Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products along with brands. For example if the product is actually visible such as dress, shoes, car etc then the influence of reference groups will be high. Reference groups also include opinion leader (a person who influences some other because of his special skill, knowledge or some other characteristics).

• Family

Buyer behavior is actually strongly influenced by the member of a family. Therefore marketers are trying to find the roles along with influence of the husband, wife along with children. If the buying decision of a particular product is actually influenced by wife then the marketers will try to target the women in their advertisement. Here we should note in which buying roles change with change in consumer lifestyles.

• Roles along with Status

Each person possesses different roles along with status inside the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is actually working in an organization as finance manager. at in which point she is actually playing two roles, one of finance manager along with some other of mother. Therefore her buying decisions will be influenced by her role along with status.

3. Personal Factors

Personal factors can also affect the consumer behavior. Some of the important personal factors in which influence the buying behavior are: lifestyle, economic situation, occupation, age, personality along with self concept.

• Age

Age along with life-cycle have potential impact on the consumer buying behavior. in which is actually obvious in which the consumers change the purchase of goods along with services with the passage of time. Family life-cycle consists of different stages such young singles, married couples, unmarried couples etc which help marketers to develop appropriate products for each stage.

• Occupation

The occupation of a person has significant impact on his buying behavior. For example a marketing manager of an organization will try to purchase business suits, whereas a low level worker inside the same organization will purchase rugged work clothes.

• Economic Situation

Consumer economic situation has great influence on his buying behavior. If the income along with savings of a customer is actually high then he will purchase more expensive products. On the some other hand, a person with low income along with savings will purchase inexpensive products.

• Lifestyle

Lifestyle of customers is actually another import factor affecting the consumer buying behavior. Lifestyle refers to the way a person lives in a society along with is actually expressed by the things in his/her surroundings. in which is actually determined by customer interests, opinions, activities etc along with shapes his whole pattern of acting along with interacting inside the globe.

• Personality

Personality alterations by person to person, time to time along with place to place. Therefore in which can greatly influence the buying behavior of customers. Actually, Personality is actually not what one wears; rather in which is actually the totality of behavior of a man in different circumstances. in which has different characteristics such as: dominance, aggressiveness, self-confidence etc which can be useful to determine the consumer behavior for particular product or service.

4. Psychological Factors

There are four important psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs along with attitudes.

• Motivation

The level of motivation also affects the buying behavior of customers. Every person has different needs such as physiological needs, biological needs, social needs etc. The nature of the needs is actually in which, some of them are most pressing while others are least pressing. Therefore a need becomes a motive when in which is actually more pressing to direct the person to seek satisfaction.

• Perception

Selecting, organizing along with interpreting information in a way to produce a meaningful experience of the globe is actually called perception. There are three different perceptual processes which are selective attention, selective distortion along with selective retention. In case of selective attention, marketers try to attract the customer attention. Whereas, in case of selective distortion, customers try to interpret the information in a way in which will support what the customers already believe. Similarly, in case of selective retention, marketers try to retain information in which supports their beliefs.

• Beliefs along with Attitudes

Customer possesses specific belief along with attitude towards various products. Since such beliefs along with attitudes make up brand image along with affect consumer buying behavior therefore marketers are interested in them. Marketers can change the beliefs along with attitudes of customers by launching special campaigns in in which regard.

Factors Affecting Consumer Behavior