Factors Influencing consumer behavior

Factors Influencing consumer behavior

1. Cultural

   • Culture
     • The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and othe important institutions
   • Subculture
     • A group of people with shared value systems based on common life experiences and situations
   • Social Class
     • Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors

2. Social

   • Reference Groups
   • 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.
   • Family
     • Family members can strongly influence buyer behavior. The family is the most important consumer buying organization in society.

3. Personal

   • Age and lifecycle stage
     • People change the goods and services they buy over their lifetimes.
   • occupation
     • A person's occupation affects the goods and services bought.
       • Marketers try to identify the occupational groups that hae an above-average interest in their products and services.
   • Economic situation
     • A person's economic situation will affect product choice.
       • If economic indicators point to a recession, marketers can take steps to redesign, reposition, and reprice their products closely.

4. Psychological

   • Motivation
     • A need that is sufficiently pressing to direct the person to seek satisfaction of the need
   • Perception
     • The process by which people select, organize, aand interpret information to form a meaningful picture of the world.
   • Learning
     • Changes in an individual's behavior arising from experience.
   • Beliefs and attitudes
     • A descriptive thought that a èrson holds about something

5. Most marketers now produce products tailored to the Hispanic market and promote them using Spanish language ads and media.

   • For example: General Mills offers a line of Para su Familia (for your family) cereals for Hispanics and Colgate's Suavitel fabric is the number two brand in the Hispanic seg,emt.

6. Abraham Maslow sought to explain why people are driven by particular needs at particular times. Why does person spend much time and energy on personal safety and another on gaining the esteem of others?

   • A person tries to satisfy the most important need first. When that need is satisfied, it will stop being a motivator and the person will then try to satisfy the next most important need.

7. A person's buying choices are further influenced by four major psychological factors.: motivation, perception, learning, and belifs and attitudes.

8. Marketers also researching out to the African American virtual community.

9. Sigmund Freud assumed that people are largely unconscious about the real psychological forces shaping their behavior.

   • Freud suggested that a person does not fully understand his or her motivation. If Anna Flores wants to purchase an expensive camera, she may describe her motive as wanting a hobby or career.

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