An analysis of consumer buying behavior

Although different consumers belong to the same market segments, they do not behave alike, and the characteristics of the products and services would not appeal to them in the same degree. Just as income tastes and other factors influence the demand for a product, so the behaviour of consumers are influenced by socio-economic and cultural factors.

An analysis of consumer buying behavior

There are different processes involved in consumer behavior. Initially, the consumer tries to find what products you would like to consume, then select only those products that promise greater utility.

After selecting the products, the consumer makes an estimate of available funds that can happen.

What is consumer behavior?

Finally, the consumer looks at the current prices of commodities and makes the decision about which products to consume. Meanwhile, there are several factors that influence consumer purchases, such as social, cultural, personal and psychological. The explanation of these factors is as follows. The influence of culture on the purchasing behavior varies from country to country, therefore sellers have to be very careful in the analysis of the culture of different groups, regions or even countries.

For example, marketers can design products according to the needs of a specific geographical group. Thus marketing activities could be adapted to different social classes.

Here we should note that social class is not only determined by income, but there are several other factors such as wealth, education, occupation etc.

Social factors Social factors also influence the purchasing behavior of consumers.

An analysis of consumer buying behavior

The impact of reference groups vary across products and brands. For example, if the product is visible as clothing, shoes, car etc. Reference groups also include opinion leader a person who influences others by his special skill, knowledge or other characteristics. So vendors are trying to find the roles and influence of the husband, wife and children.

If the decision to purchase a particular product is influenced by the wife of then sellers will try to target women in their ad. Here we should note that the purchase of roles change with changing lifestyles of consumers.

For example, a woman working in an organization as manager of finance. Now she is playing two roles, one of the chief financial officer and the mother. Therefore, purchasing decisions will be influenced by their role and status.

Personal factors Personal factors may also affect consumer behavior. Some of the important factors that influence personal buying behavior are: It is obvious that consumers change the purchase of goods and services over time. Family life cycle consists of different stages as young singles, married couples, unmarried couples etc that help marketers to develop suitable products for each stage.

For example, a marketing manager of an organization is trying to buy business suits, while a low level worker in the same organization buy-resistant clothing work. If income and savings a customer is high, then going to buy more expensive products.

Moreover, a person with low income and savings buy cheap products. Lifestyle refers to the way a person lives in a society and express things in their environment. Therefore, it can greatly influence the buying behavior of customers. In fact, personality is not what one has, but is the totality of the conduct of a man in different circumstances.

Has different characteristics, such as dominance, aggression, confidence etc that may be useful to determine the behavior of consumers to the product or service. Psychological Factors There are four major psychological factors that affect the purchasing behavior of consumers.

Each person has different needs, such as physiological needs, biological needs, social needs, etc. The nature of the requirements is that some are more urgent, while others are less pressing.

Chapter Consumer Buying Behavior Notes

Therefore, a need becomes a motive when it is most urgent to lead the individual to seek satisfaction. There are three different perceptual processes which are selective attention, selective distortion and selective retention.

In the case of selective attention, sellers try to attract the attention of the customer. Whereas in case of selective distortion, customers try to interpret the information in a way that supports what customers already believe.

Similarly, in the case of selective retention, marketers try to retain information that supports their beliefs. Because such beliefs and attitudes shape the brand image and affect consumer buying behavior so traders are interested in them.

Marketers can change beliefs and attitudes of customers with special campaigns in this regard.Consumer behavior, or how people buy and use goods and services, is a hotbed of psychological research, particularly for the companies trying to sell their products to as many consumers as possible.

Consumer Buying Behaviour - The Influence Of rutadeltambor.coming unlike any other social science is entirely concerned with the need and wants. Consumer behaviour analysis is the "use of behaviour principles, usually gained experimentally, to interpret human economic consumption." As a discipline, consumer behaviour stands at the intersection of economic psychology and marketing science.

Marketing Complex Buying Behavior ~ The Market, Media, Life

Consumer behavior is the study of how people make decisions about what they buy, want, need, or act in regards to a product, service, or company. Become a Board Certified Behavior Analyst.

Use the science of behavior to improve the lives of individuals through applications in education, .

An analysis of consumer buying behavior

Of course, the consumer behavior in relation with the marketing mix (product, price, promotion, place) is another analysis you should do, taking into account consumer reactions to different level.

Factors Affecting Consumer Behavior | MBA Tutorials