Factors influencing consumer behavior

Factors influencing consumer behavior

1. cultural

   • exert a broad and deep influence on consumer behavior.The marketer need to understand the role played by the buyer`s culture, subculture and social class
     • culture:
       • the set of basic values, perceptions, wants, and behavior learned by a memebr of society from family and other important institutions. Marketers are always trying to spot cultural shifts in order to discover new products that might be wanted.
     • subculture:
       • A group of people with shared value systems based on common life experiences and situations. Each culture have contains smaller subcultures includes nationalities, religions, racial groups, and geographic regions.
         • four such important subculture gropus include
           • Hispanic market:includes Americans of Cuban, Mexican, Central American, South American, and Puerto Rican descent.Consists of 35 million consumers who buy nearly $400 billion worth of goodsand services each year. Have long been a target for marketers of food,beverages, & household care product.
           • African Americans: were a separate nation, its buying power of $500 billion annually would rank twelfth in the free world. Per capita, black consumers spend twice as much as white consumers for online services.
           • Asian Americans:The fastest-growing and most affluent U.S. demographic segment,more than 10 million with disposable income of $229 billion annually.Population is estimated to reach 30 million by 2050. Financial services marketers have long targeted Asian American consumers.
           • Mature consumers: They are better off financially than are younger consumer groups.
     • social class
       • relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors

2. social

   • A consumers behavior also is influenced by social factors, such as the consumers small groups, family, and social roles and status
     • groups
       • Two or more people who interact to accomplish individual or mutual goals. Groups that have a direct influence and to which a person belongs are called memberships groups;Reference groups serve as direct or indirect pointrs of comparison or reference in forming a person^s attitudes or behavior; aspirational group is one to which the individual wishes to belong.
         • upper uppers
         • lower upper
         • upper middles
         • middle class
         • working class
         • upper lowers
         • lowers lowers
         • opinion leader
           • Person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts influence on others.
     • family
       • members can strongly influence buyer behavior. Is the most important consumer buying organization in society, and it has been researched extensively. Husband,wife and children can also have a strong influence on a family buying decisions.
     • Roles and status
       • A person belongs to many groups- family, clubs,organizations. The person`s position in each group can be defined in terms of both role and status. A role consists of the activities people are expected to perfom according to the persona around them. And status reflecting the general esteem given to it by society.

3. personal

   • A buyer`s decisions also are influenced by personal characteristics such as the buyer`s age and life-cycl stage, occupation, economic situation, lifestyle, and personality and self-concept
     • Age and life-cycle
       • people change the goods and services they buy over their lifetimes. Age related. Family life styke- the stages through which families might pass as they mature over time.
     • Occupation
       • A person`s occupation affects the goods and services bought.
     • economic situation
       • a person`s economic situation will affect product choice
     • lifestyle
       • a person`s pattern of living as expressed in his or her activities, interests, and opinions.
     • personality and self-concept
       • unique psychological characteristics that lead to relatively consistent and lasting responses to one`s own environment.

4. psychological

   • A person`s buying choices are further influenced by four major psychological factors: motivations, perception, learning and beliefs and attitudes.
     • motivation
       • A person has many need at any given time. Biological, arising from states of tension such as hunger, thirts or discomfort; Psychological, arising from the need for recognition ;motive a need that is sufficiently pressing to direct the person to seek satisfaction of the need.
     • Perception
       • The process by which people select, organize, and interpret information to form a meaningful picture of the world.
     • Learning
       • Changes in an individual`s behavior arising from experience. Occurs through the interplay of drives, stimuli, cues , responses, and reinforcement.
     • Beliefs and attitudes
       • A descriptive thought that a person holds about something

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