Do you know about - Factors Affecting consumer Behavior
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Consumer behavior refers to the selection, buy and consumption of goods and services for the satisfaction of their wants. There are dissimilar processes complex in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After choosing the commodities, the consumer makes an appraisal of the ready money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are assorted other factors influencing the purchases of consumer such as social, cultural, personal and psychological. The explanation of these factors is given below.
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1. Cultural Factors
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and collective class.
• Culture
Basically, culture is the part of every community and is the leading cause of someone wants and behavior. The sway of culture on buying behavior varies from country to country therefore marketers have to be very right in analyzing the culture of dissimilar groups, regions or even countries.
• Subculture
Each culture contains dissimilar subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the store into assorted small portions. For example marketers can compose products according to the needs of a particular geographic group.
• Social Class
Every community possesses some form of collective class which is leading to the marketers because the buying behavior of population in a given collective class is similar. In this way marketing activities could be tailored according to dissimilar collective classes. Here we should note that collective class is not only thought about by wage but there are assorted other factors as well such as: wealth, education, career etc.
2. Social Factors
Social factors also impact the buying behavior of consumers. The leading collective factors are: reference groups, family, role and status.
• Reference Groups
Reference groups have potential in forming a someone attitude or behavior. The impact of reference groups varies across products and brands. For example if the goods is illustrated such as dress, shoes, car etc then the sway of reference groups will be high. Reference groups also include opinion leader (a someone who influences other because of his extra skill, knowledge or other characteristics).
• Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and sway of the husband, wife and children. If the buying decision of a particular goods is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
• Roles and Status
Each someone possesses dissimilar roles and status in the community depending upon the groups, clubs, family, assosication etc. To which he belongs. For example a woman is working in an assosication as finance manager. Now she is playing two roles, one of finance boss and other of mother. Therefore her buying decisions will be influenced by her role and status.
3. Personal Factors
Personal factors can also sway the consumer behavior. Some of the leading personal factors that sway the buying behavior are: lifestyle, economic situation, occupation, age, personality and self concept.
• Age
Age and life-cycle have potential impact on the consumer buying behavior. It is inevitable that the consumers change the buy of goods and services with the passage of time. Family life-cycle consists of dissimilar stages such young singles, married couples, unmarried couples etc which help marketers to compose suitable products for each stage.
• Occupation
The career of a someone has significant impact on his buying behavior. For example a marketing boss of an assosication will try to buy firm suits, whereas a low level employee in the same assosication will buy rugged work clothes.
• Economic Situation
Consumer economic situation has great sway on his buying behavior. If the wage and savings of a customer is high then he will buy more costly products. On the other hand, a someone with low wage and savings will buy inexpensive products.
• Lifestyle
Lifestyle of customers is other import factor affecting the consumer buying behavior. Lifestyle refers to the way a someone lives in a community and is expressed by the things in his/her surroundings. It is thought about by customer interests, opinions, activities etc and shapes his whole pattern of acting and interacting in the world.
• Personality
Personality changes from someone to person, time to time and place to place. Therefore it can greatly sway the buying behavior of customers. Actually, Personality is not what one wears; rather it is the totality of behavior of a man in dissimilar circumstances. It has dissimilar characteristics such as: dominance, aggressiveness, self-confidence etc which can be useful to determine the consumer behavior for particular goods or service.
4. Psychological Factors
There are four leading psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs and attitudes.
• Motivation
The level of motivation also affects the buying behavior of customers. Every someone has dissimilar needs such as physiological needs, biological needs, collective needs etc. The nature of the needs is that, some of them are most pressing while others are least pressing. Therefore a need becomes a motive when it is more pressing to direct the someone to seek satisfaction.
• Perception
Selecting, organizing and interpreting data in a way to produce a meaningful palpate of the world is called perception. There are three dissimilar perceptual processes which are selective attention, selective distortion and selective retention. In case of selective attention, marketers try to attract the customer attention. Whereas, in case of selective distortion, customers try to by comparison the data in a way that will support what the customers already believe. Similarly, in case of selective retention, marketers try to support data that supports their beliefs.
• Beliefs and Attitudes
Customer possesses exact trust and attitude towards assorted products. Since such beliefs and attitudes make up brand image and sway consumer buying behavior therefore marketers are interested in them. Marketers can change the beliefs and attitudes of customers by launching extra campaigns in this regard.
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