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Factors That Affect Consumer Behaviour

5 min read

Factors That Affect Consumer Behaviour – Why people buy is not always a simple question. Think about the last time you bought a car, bike or other item. Why did you buy that particular make and model? Was it because his sleek style made you feel good about yourself? Maybe you bought a particular brand because someone in your family bought the same brand. These are just a few examples of some of the factors that influence consumer buying behavior. Let’s explore some others.

Cultural factors include a set of values ​​or ideologies of a particular community or group of individuals. These can include culture, subcultures, social class, and gender as described in Figure 3.4.

Factors That Affect Consumer Behaviour

Figure 3.4 Cultural Factors Affecting Consumer Buying Behavior (attribution: Copyright Rice University, , licensed under CC BY 4.0)

The Psychology Of Consumer Behavior

Culture refers to the values, attitudes, and opinions that are learned and shared among group members. Human behavior is largely learned. When you were a child, you learned basic values, attitudes, desires, and behaviors from your family and from outside influences such as the schools and churches you attended. Consider how these values ​​and attitudes have shaped your buying behavior. For example, in a traditional Hindu wedding in India, the bride may wear a red lehenga for the wedding, while Christian brides usually wear white. In India, widows are expected to wear white, while widows in the United States and other parts of the world usually wear darker colors for burial.2

A subculture is a group of people, such as environmentalists or bodybuilders, who share a set of values. Racial and ethnic groups share their language, food and heritage culture. Other subcultures, such as bike culture, which revolve around a passion for motorcycles, are united by shared experiences. The Amish subculture is known for its conservative beliefs and reluctance to adapt to modern technology. Think about which subculture(s) you belong to and how they influence your buying behavior. For example, hip-hop music has long been associated with fashion, especially sneakers. DMC’s 1986 hit “My Adidas” led to the first endorsement deal between a fashion brand and a music act, setting the stage for lucrative partnerships over the decades since – Master P with Converse, Jay -Z and 50 Cent with Reebok, Missy Elliott . and Sean Mòr with Adidas, and Drake with Nike.

Cultural factors play a large role in determining the best way to market to consumers. There are many examples of companies’ efforts that failed because they did not show an understanding of the culture in a specific market. Watch this CNBC video on why Starbucks failed in Australia and read this article on how Coca-Cola and PepsiCo failed when they first entered the Chinese market.

Failures are always important because they come with knowledge learned, and if you understand the reason behind the failure, the learning can lead to changes in strategy and possible success. Read the inspiring story behind Run DMC’s groundbreaking marketing deal with Adidas and how it opened the door for current artists like 50 Cent, Jay-Z, and Puffy.

Five Components That Affect Consumer Behaviour

For more success stories, check out these videos about a few companies that got it right. Examples include stories from Rihanna’s Fenty beauty line, Adobe’s “When I See Black” ad, Bumble’s “Find Me on Bumble” campaign, and much more!

Your social class is also an important influence on your buying behavior. Sociologists base definitions of social class on a number of different factors, including income, occupation and education. Although there is disagreement about the number of social classes defined by income in the United States, many sociologists propose five social classes: upper class, upper middle class, lower middle class lower, workers, and those with economic disadvantage.3 The income is largely his. . defined by disposable income (the money you have left to spend or save after taxes are deducted), but its impact goes beyond just dollars, euros, yen , etc. consider a product, and an upper class person may consider the quality and features of the product before the price. However, you can also influence a social class that you don’t belong to but want to be accepted. Have you ever spent money you didn’t have on brand name running shoes or a designer purse because your friends have them?

Finally, your gender plays an important role in your buying behavior. Not only do people of different races want different products as a result of their upbringing and socialization, but they approach the purchase itself with different motives, perspectives and considerations. Although stereotypes are always dangerous, those who identify as male usually follow a utilitarian approach, more based on logic when they shop. They want a fast and effortless shopping experience. Those who identify as women, on the other hand, make decisions on a more emotional level. Zappos considers these different reasons and provides different layouts on their landing pages for different genres. While the “masculine” version aims to provide clear navigation according to product categories, the “feminine” version aims to sell on emotion.4

Gender differences lead to different buying behaviors. Read this article about one such example, Birchbox , a hair care and skin care subscription service. For more information, check out this article on the reasons for the differences, which includes reason, experience, brain makeup, and more. An interesting read!

An Examination Of The Factors Affecting Consumer’s Purchase Decision In The Malaysian Retail Market

You can also watch this TED Talk by Gaby Barrios. Barrios is a marketing expert who talks about how targeting consumers based on gender is bad for business.

This funny video from The Checkout, a consumer affairs TV show, discusses gender marketing packaging decisions and their impact on your wallet.

Let’s look at gender from another angle – women coming forward in marketing. As part of a series on jobs in marketing, this article explores fairness in the world of marketing. Outputs include data on gender balance and inequality, and guidance on how to improve it.

Social factors are those factors that are prevalent in the society where the consumer lives. Every society is made up of individuals who have different preferences and behaviors, and these individuals influence the personal preferences of others in society. People are social individuals, and the influence of people’s family, reference groups, and occupations and status (see Figure 3.5) has a significant influence on purchasing behavior.

Pdf) Factors Affecting Consumer Buying Behavior

Figure 3.5 Social Factors Affecting Consumer Buying Behavior (attribution: Copyright Rice University, , licensed under CC BY 4.0)

Let us first consider the influence of the family. It is generally believed that most people go through two families: a family of origin (that is, the family you were born or raised with) and a family of procreation (the family created through marriage or cohabitation, including spouse). , partner, and/or children). Consider first the orientation family. When you were growing up, whether you realized it or not, you probably developed a certain level of buying behavior by watching the adult members of your family who are likely to buy the same products or services as you get older. . Was your dad a die-hard Chevy driver? If so, chances are good that you’ll at least consider buying a Chevy, too. Now consider the influence of your spouse, partner, and/or children on your shopping behavior. You might want to pick up a Chevy because that’s what your dad passed on, but your spouse or partner might subtly (or maybe not so subtly) steer you towards it. SUV Chevy crossover because it is more practical to carry the children to school, sports etc. activities. .

Referral organizations are those organizations that you want to be connected with. These can be formal groups, such as members of a country club, church, or professional organization, or informal groups of friends or acquaintances. These groups act as role models and inspirations, influencing the types of products you buy and which brands you choose. Information groups are characterized by opinion leaders – people who influence others. These opinion leaders are not necessarily higher income or better educated, but others see them as more knowledgeable in a particular area. For example, a teenage girl may look to the opinion leader in her peer group for fashion guidance, or a college student may aim to obtain an advanced degree from the same university as a prestigious professor. Social media influencers also play a role here. Consider the influence that celebrities like Kendall Jenner (with over 217 million Instagram followers)5 or Leo Messi (with over 310 million Instagram followers)6 have on individuals.

Everyone takes on different roles and status depending on the groups, clubs, family or organizations they belong to. For example, a working mother who takes classes at the local community college takes on three roles at different times—the role of worker, mother, and student. Each of these roles will at different times influence her purchasing decisions. When shopping for clothes, any or all of these roles may be affected – professional attire for the office, casual clothes for classes, or yoga pants for the home.

Management Studies: Factor Determining Organizational Buying Decision

Personal factors, such as your occupation, age stage and life cycle, economic situation, lifestyle, and personality and self-concept play a major role in

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