A Consumers Buyer Behaviour Is Influenced By Four Major Factors Cultural Social Personal And Psychological

Length: 3 Pages 752 Words

A Consumers Buyer Behaviour Is Influenced By Four Major Factors; Cultural, Social, Personal, And Psychological A consumers buyer behavior is influenced by four major factors; cultural, social, personal, and psychological factors. These factors cause consumers to develop product and brand preferences. Although many of these factors cannot be directly controlled by marketers, understanding of their impact is essential as marketing mix strategies can be developed to appeal to the preferences of the target market. When purchasing any product, a consumer goes through a decision process. This process consists of up to five stages: problem recognition, information search, evaluation of alternatives, purchase decisions and post purchase behavior. The length of this decision process will vary, ranging from a shorter routine response behavior, to limited problem solving and a more comprehensive extensive problem solving. A consumer may not act in isolation in the purchase, but rather may be influenced by any of several people in various roles. The number of people involved in the buying decision increases with Continue...

Extensive problem solving occurs when buyers purchase more expensive, less frequently purchased products in an unfamiliar product category. Buyer- the person who makes the actual purchase. Economic policymakers use the data to study the impact of policy changes in the welfare of different socioeconomic groups. These factors are often inherent in our values and decision processes. An important use of the survey by BLS is for the periodic revision of the Bureau's Consumer Price Index (CPI). Survey results are used to select new market baskets of goods and services for the CPI, to determine the relative importance of CPI components, and to derive new cost weights for the market baskets. CULTURAL factors include a consumer's culture, subculture and social class. Types of Buying Decisions Consumer decision making varies with the level of involvement in the purchase decision. The Consumer Expenditure Survey collects information from the Nation's households and families on their buying habits (expenditures), income, and characteristics. Consumers buyer behavior and the resulting purchase decision is strongly influenced by cultural, social, personal and psychological characteristics. Decider- the person who ultimately makes a buying decision or any part of it. the level of involvement and complexity of the buying decision behavior. These may explain why our preferences often change as our situation changes. An understanding of the influence of these factors is essential for marketers in order to develop suitable marketing mixes to appeal to the target customer.