Factors Affecting consumer Behavior

Consumer behavior refers to the selection, purchase and consumption of goods and services for the pleasure of their wants. There are dissimilar processes complicated 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 selecting the commodities, the consumer makes an evaluation 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.

1. Cultural Factors

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Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and group class.

Factors Affecting consumer Behavior

• Culture

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Basically, culture is the part of every community and is the foremost cause of someone wants and behavior. The sway of culture on buying behavior varies from country to country therefore marketers have to be very truthful 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 market into assorted small portions. For example marketers can make products according to the needs of a singular geographic group.

• Social Class

Every community possesses some form of group class which is foremost to the marketers because the buying behavior of citizen in a given group class is similar. In this way marketing activities could be tailored according to dissimilar group classes. Here we should note that group class is not only determined by revenue 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 foremost group factors are: reference groups, family, role and status.

• Reference Groups

Reference groups have inherent in forming a someone attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is illustrated such as dress, shoes, car etc then the sway of reference groups will be high. Reference groups also comprise thought leader (a someone who influences other because of his special 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 singular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles convert with convert in consumer lifestyles.

• Roles and Status

Each someone possesses dissimilar roles and status in the community depending upon the groups, clubs, family, club etc. To which he belongs. For example a woman is working in an club as finance manager. Now she is playing two roles, one of finance manager 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 foremost personal factors that sway the buying behavior are: lifestyle, economic situation, occupation, age, personality and self concept.

• Age

Age and life-cycle have inherent impact on the consumer buying behavior. It is determined that the consumers convert the purchase of goods and services with the duct of time. House life-cycle consists of dissimilar stages such young singles, married couples, unmarried couples etc which help marketers to make accepted products for each stage.

• Occupation

The career of a someone has important impact on his buying behavior. For example a marketing manager of an club will try to purchase business suits, whereas a low level employee in the same club will purchase rugged work clothes.

• Economic Situation

Consumer economic situation has great sway on his buying behavior. If the revenue and savings of a buyer is high then he will purchase more expensive products. On the other hand, a someone with low revenue and savings will purchase cheap 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 determined by buyer 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 resolve the consumer behavior for singular product or service.

4. Psychological Factors

There are four foremost 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, group 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 yield a meaningful sense 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 buyer attention. Whereas, in case of selective distortion, customers try to interpret the data in a way that will sustain what the customers already believe. Similarly, in case of selective retention, marketers try to sustain data that supports their beliefs.

• Beliefs and Attitudes

Customer possesses definite reliance and attitude towards assorted products. Since such beliefs and attitudes make up brand image and sway consumer buying behavior therefore marketers are curious in them. Marketers can convert the beliefs and attitudes of customers by launching special campaigns in this regard.

Factors Affecting consumer Behavior