Consumer behavior and factors influencing buyer

Apart from the basic five touch, taste, smell, sight, hearing there are senses of direction, the sense of balance, a clear knowledge of which way is down, and so forth. One of the most widely used systems to classify people based on psychographics is the VALS Values, Attitudes, and Lifestyles framework.

5 Factors Influencing Consumer Behaviour | Explained

Decision process — 5 stages I. This is the degree to which the brain is selecting from the environment. However, your friend might see the ad, find it stupid, and never tune in to watch the show.

For example, look at this series of numbers and letters: A consumer may not act in isolation in the purchase, but rather may be influenced by any of several people in various roles. The model was developed in and and should therefore be treated with a degree of caution. The information is subjective in that the consumer will base decisions on the selected information.

Factors Influencing Consumer Behavior

The fastest-growing subculture in the United States consists of people of Hispanic origin, followed by Asian Americans, and African Americans.

A company can even specialize its products for certain occupational groups. Lower-class families, with low incomes, tend to be more matriarchal, with the wives often handling the financial decisions about rent, insurance, grocery and food bills without reference to the husbands.

The brain therefore selects from the environment around the individual and cuts out the extraneous noise. Other reference groups rarely have this level of contact. Influence of children on buying decisions: Social class creates patterns of decision-making.

There have been various versions of the family life cycle, but most are based on the original work of Wells and Gubar. These lead individuals to interpret later information in a specific way.

Each of us selects differently from the environment and each of us has differing views. By the s, marketing began to adopt techniques used by motivation researchers including depth interviews, projective techniques, thematic apperception tests and a range of qualitative and quantitative research methods.

The importance of children as influencers in a wide range of purchase contexts should never be underestimated and the phenomenon is known as pester power.

Family members can strongly influence the buyer behaviour, particularly in the Indian contest. Empty nest II Main breadwinner has retired, so some drop in income. Consumer’s buyer behaviour and the resulting purchase decision are strongly influenced by cultural, social, personal and psychological characteristics.

Economic Factors Influencing Consumer Behavior

An understanding of the influence of these factors is essential for marketers in order to develop suitable marketing mixes to appeal to the target customer. 4 important Factors that Influence Consumer Behaviour.

Consumer Behaviour – The consumer, The KING of the market is the one that dominates the market and the market us know the King first. A consumer is someone who pays a sum to consume the goods and services sold by an organization.

Economic Factors Influencing Consumer Behavior Definition: The Economic Factors are the factors that talk about the level of sales in the market and the financial position of the consumer, i.e.

Chapter 6 Class Notes

how much an individual spends on the purchase of goods and services that contribute to. 4 important Factors that Influence Consumer Behaviour. Next Previous. Service offered to a consumer also matters in influencing their behavior; How a single or a group of consumer behavior does affects the society and the atmosphere and the economy of the nation.

ConSumer Behavior and Factors Influencing Consumer Behavior ____WISH____ 2. Consumer behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer.

Consumer behaviour

Chapter 6 Class Notes Contents of Chapter 6 Class Notes. what factors influence consumer purchases? the changing factors in our society. Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for: consumer behavior starts in the family unit.

Consumer behavior and factors influencing buyer
Rated 3/5 based on 58 review
Chapter Consumer Buying Behavior Notes