Factors Influencing Consumer Buying Decision – While these factors remain largely outside of marketers’ control, they must be considered when creating a marketing plan.
Cultural factors have the greatest influence on consumers. Man is bound to his culture and changing cultural norms is very difficult. Social factors influence how a person functions in society and what society believes is important. Depending on individual factors such as age, lifestyle, occupation, consumers will behave differently in the market. While psychological factors are a reflection of cultural, social and personal factors, an individual’s beliefs, attitudes, motivation, learning ultimately shape his purchasing decisions.
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Factors Influencing Consumer Buying Decision
Consumer behavior is most influenced by cultural factors. Marketers need to understand the role that the buyer’s culture, subculture, and social class play in shaping consumer behavior.
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Culture is a set of basic values, perceptions, desires and behaviors that a member of society learns from family and other important institutions.
A child in the United States typically learns or is exposed to the following values: achievement and success, activity and cooperation, efficiency and practicality, progress, material comfort, individualism, freedom, humanitarianism, youth and fitness, and health.
Every society has its own culture. The influence of culture on purchasing behavior can vary greatly from country to country. The marketer must consciously adapt to these differences. Failure to do so can result in ineffective marketing or costly mistakes.
For example, business representatives of the American community. tried to market in Taiwan, found this out the hard way.
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Eager for more foreign trade, they arrived in Taiwan with gifts of green baseball caps. It turned out that the trip was planned a month before Taiwan’s election and that green is the color of the opposition party.
Worse, visitors later learned that according to Taiwanese culture, the man wore the color green to signify that his wife had been unfaithful.
The leader of the community delegation later remarked: I don’t know what happened to those green hats, but the trip made us understand the tremendous differences in our cultures.
Marketers engaged in international marketing must appreciate the culture in each foreign market and adapt their marketing strategies accordingly.
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For example, the cultural shift toward greater concern for health and fitness has created a huge industry of fitness equipment and apparel, lower-fat and more natural foods, and health and fitness services. The move towards informality has led to a greater demand for leisure wear and simpler home furnishings.
The increased desire to spend leisure time has led to a greater demand for convenience products and services such as microwave ovens and fast food.
Every culture is made up of smaller subcultures. A subculture refers to a group of people with shared value systems based on shared experiences and life situations.
Subcultures consist of nationalities, religions, racial groups, and geographic regions. Subcultures have a significant impact on marketing. They are important market segments and marketers often design products and marketing programs to meet their needs.
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The purchasing behavior of consumers will depend on the subculture they belong to. A subculture will influence an individual’s food preferences, clothing choices, leisure activities, and career goals.
Every society has a social class structure. Social classes are relatively permanent and orderly divisions of society whose members share similar values, interests and attitudes.
Social class is not determined by a single factor such as income. It is determined by a combination of occupation, income, education, wealth and other variables.
In society, however, the boundaries between social classes are not fixed and rigid. People can move into a higher social class or fall into a lower one.
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Marketers are interested in social class because people in a particular social class tend to exhibit similar buying behavior. Social class shows strong product and brand preferences in clothing, home furnishings, leisure activities and automobiles.
Consumer behavior is influenced by various social factors. These factors are consumers, small groups, family and social roles and status and can be explained as follows:
Many small groups influence individual behavior. A group refers to two or more people working together to achieve individual or shared goals. Groups to which a person belongs and has direct influence are called membership groups. Membership groups include primary and secondary groups.
Secondary groups include organizations such as religious groups, professional associations, and unions that are more formal and have less regular interaction.
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People are often influenced by groups they do not belong to. These are called reference groups, which serve as direct or indirect points of comparison or reference in forming a person’s attitudes or behavior.
For example, an aspirational group is one to which an individual wants to belong. The teenage footballer hopes to one day play for Abahani Krira Chakra. He identifies with this group, although there is no direct contact between him and the group.
Target market reference groups are important to marketers because these groups expose an individual to new behaviors and lifestyles, influence an individual’s attitudes and self-concept, and create pressures to conform that can influence a person’s choice of products and brands.
Marketers of products and brands that have strong group influence must develop ways to reach opinion leaders in relevant reference groups.
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Opinion leaders are individuals in a reference group who influence others due to special skills, knowledge, personality or other characteristics. Marketers try to identify opinion leaders for their products and brands and focus marketing efforts on them.
The family is the most important consumer buying organization in society, as family members can greatly influence buyer behavior.
For this reason, marketers consider the role and influence of husband, wife and children when purchasing various products and services.
The purchasing roles of various family members are changing as consumer lifestyles evolve. Marketers must also be aware that such roles sometimes vary greatly across countries and social classes.
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A person belongs to more than one group. A person’s position in each group can be defined by both role and status.
For example, in a family, a person plays the role of husband and father. he performs the role of executive director in the company.
A role embodies the activities expected of people, these expectations reflect the desires of the people around them. Each role carries a position that reflects the general respect given to it by society. The general tendency of people is to choose products that express their position in society.
Personal characteristics have a significant influence on the buyer’s decisions. These characteristics are the buyer’s age and life cycle stage, occupation, financial situation, lifestyle, and personality and self-image.
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People buy different types of goods and services at different times of their lives. The demand for various products and services is often related to age. The purchasing pattern is also influenced by the stage of the family life cycle.
The table below lists the stages of the family life cycle. Marketers often define their target markets by life cycle stage and then develop appropriate products and marketing plans for each stage.
The occupation of the shopper has a significant influence on the decisions of what to buy. Marketers try to identify occupational groups that have an above-average interest in their products and services.
A company may even specialize in the production of products needed by a certain occupational group. Thus, computer software companies will design a variety of products for brand managers, accountants, engineers, lawyers, and doctors.
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The choice of product is influenced by the buyer’s financial situation. Marketers track trends in personal income, savings and interest rates. If income indicators give a bearish signal, marketers can take steps to rebrand, reposition, and fine-tune the pricing of their products.
People from the same subculture, social class, and profession can have quite different lifestyles. Lifestyle is a person’s life pattern expressed in his/her psychographics.
It involves measuring key dimensions of AIO consumer activities (work, hobbies, shopping, sports social events), interests (food, fashion, family, entertainment) and opinions (about themselves, social issues, business, products).
Lifestyle encompasses more than an individual’s social class or personality. it shows a person’s overall pattern of action and interaction in the world. The concept of lifestyle can be used by marketers to understand changing consumer values ​​and influence purchasing behavior.
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Each person has a unique personality that influences their buying behavior. Personality refers to unique psychological characteristics that lead to relatively consistent and enduring responses to an individual’s environment.
Personality is generally characterized by self-confidence, dominance, sociability, autonomy, defensiveness, adaptability and aggressiveness. Marketers use persona to analyze consumer behavior for a particular product or brand choice.
For example, coffee makers have discovered that those who drink a lot of coffee tend to be very sociable. Thus, Maxwell House ads show people relaxing and socializing over a hot cup of coffee.
Many marketers use a person’s self-image, which is related to personality. Self-esteem is also known as self-esteem. Core self-image says that people’s possessions contribute to and reflect their identity.
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To better understand consumer behavior, a marketer must first understand the relationship between consumer self-image and ownership.
Four main psychological factors influence a person’s buying behavior. These factors are; motivation, perception, learning and beliefs and attitudes. These can be expressed as:
Man has many needs. Some of these needs
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