Members respect the views of an opinion leader, and seek his counsel and guidance on a particular issue. As a consumer, there are many factors that affect our purchasing decisions. Companies that tailor their marketing efforts to match consumer behavior are more likely to understand their customers and provide products or services that appeal to them. Advertising campaigns that boast American-made or sweatshop-free products are a common example. The consumer plays a very important role in the demand and of every nation. They may buy cars and items for their first residence away from home. Social class should be used with other measures such as life stage and life cycle.
. Consumer behavior can be broadly classified as the decisions and actions that influence the purchasing behavior of a consumer. Marketers must be careful to provide cues that do not upset those expectations. Personal Factors Personal factors are characteristics that are specific to a person and may not relate to other people within the same group. The prevalence of brand-name clothing or new trends in design and fashion, for example, affects what any individual consumer will choose for themselves. They propagate word of mouth communication. This is because marketing strategies and tactics are based on explicit or implicit beliefs about consumer behaviour.
Social class is relatively a permanent and ordered division in a society whose members share similar value, interest and behaviour. The nature of consumption and buying pattern of a consumer is also affected by the income of the family and the level of standard of living. The behavioral aspect of consumer motivation concerns the actions someone takes… 1294 Words 6 Pages the factors affecting the buying behavior of consumers in that market. Sub-culture consists of a group of people within a culture who exhibit similar buying behaviour and have similar believes. However, it is critical to consider the social factors in consumer behavior, as they greatly influence how people respond to marketing messages and make purchasing decisions.
If a company is targeting customers who feel a purchase decision is difficult i. Importance in Marketing Once companies have a better understanding of consumer buying habits and consumer behavior, they have valuable information about what consumers want, how they learn about products, and how they spend their money. If it is clear consumers are not happy with a current product or will not want a future product, companies can make accommodations for consumer behavior and capitalize on greater sales elsewhere. Groups represent two or more individuals who share a set of norms, values, or beliefs and interact to accomplish individual or mutual goal. Many consumers investigate to find the best deals, while others tend to impulse buy. Subjectivity: This is the existing world-view within the individual, and is unique to that individual. According to Schiffman and Kanuk, values include achievement, success, efficiency, progress, material comfort, practicality, individualism, freedom, humanitarianism, youthfulness and practicality.
The point at which a person can detect and differentiate between something and nothing is that persons absolute threshold for that stimulus. Most of the selection process involved in purchasing is based on emotions and reasoning. So, buying pattern of people differs with different levels of income. An opinion leader is someone in a reference group from whom other members seek guidance on a particular topic. Researchers have identified number of different factors that influence consumer buying behavior. Personality reflects individual differences: Because the inner characteristics that constitutes an individuals personality are a unique combination of factors, no two individuals are exactly alike Example: Hero Honda- Splender and Hero Honda- Karizma Personality is consistent and enduring: Personality is a set of response tendencies that are consistent and endure over time.
The stimulus-response model of buyer behaviour is shown below. Schoolmates, neighbourhood, colleagues, other acquaintances are a part of the secondary reference groups of an individual. In fact organizations produce separate products for different occupational groups. Important factors that influence consumer behaviour You for sure might be wondering as to what is it that influences these consumers, how do we analyzes when is their purchase pattern going to change. Caste Muslims, Christians, Hindu, etc.
It is a function of how much is going on around the individual, and also of how selective concentrated the individual is on the current task. Cues serve to direct consumer drives when they are consistent with consumer expectations. Marketing campaigns if undertaken at regular intervals even help to remind consumers to shop for not so exciting products such as health products or insurance policies. And they filter their purchasing alternatives against security criteria. At the problem recognition stage of, for example, the need for new shoes for the children, the children themselves may be the main contributors. Other determinants might include such factors as whether both parents are earning. Solitary survivor If they still are in the workforce, widows and widowers enjoy a good income.
Thus, The social factors play a crucial role in building the behavior of an individual, and the marketers should understand it properly before designing their marketing campaigns. Design ads keeping consumer's behavior in mind. The product may be excellent, but if it fails to meet the buyers purchasing ability, it will have high impact on it its sales. The family is a flexible concept, and families go through life cycles. All consumers perceive the same product differently according to their own perceptions. In the traditional setting, it was the wife in a husband-wife model relationship who was responsible for making buying decisions related to product categories such as household products, food, and clothing. Customers use these three factors to filter their buying choices and decide on the final selection of stores they are willing to buy from.