Notes Factors Effecting Consumer Behavioue

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  Unit -2 Consumer behaviour Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. fter selecting the commodities, the consumer makes an estimate of the available money whichhe can spend. !astly, the consumer analy es the prevailing prices of commodities and takes the decision about the commodities he should consume. #eanwhile, there are various other factors influencing the purchases of consumer such as social, cultural,  personal and psychological. The e$planation of these factors is given below.%. Cultural &actorsConsumer behavior is deeply influenced by cultural factors such as' buyer culture, subculture, and social class.( Culture)asically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analy ing the culture of different groups, regions or even countries.( *ubculture+ach culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. #arketers can use these groups by segmenting the market into various small portions. &or e$ample marketers can design products according to the needs of a particular geographic group.( *ocial Class+very society possesses some form of social class which is important to the marketers  because the buying behavior of people in a given social class is similar. In this way marketing activities could be tailored according to different social classes. ere we should note that social class is not only determined by income but there are various other factors as well such as' wealth, education, occupation etc.2. *ocial &actors*ocial factors also impact the buying behavior of consumers. The important social factorsare' reference groups, family, role and status.  ( eference roupseference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. &or e$ample if the product is visible such as dress, shoes, car etc then the influence of reference groups will be high. eference groups also include opinion leader /a person who influences other because of his special skill, knowledge or other characteristics0.( &amily)uyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. ere we should note that buying roles change with change in consumer lifestyles.( oles and *tatus+ach person possesses different roles and status in the society depending upon the groups, clubs, family, organi ation etc. to which he belongs. &or e$ample a woman is working in an organi ation as finance manager. 1ow she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced  by her role and status.. 3ersonal &actors3ersonal factors can also affect the consumer behavior. *ome of the important personal factors that influence the buying behavior are' lifestyle, economic situation, occupation, age, personality and self concept.( gege and life-cycle have potential impact on the consumer buying behavior. It is obvious that the consumers change the purchase of goods and services with the passage of time. &amily life-cycle consists of different stages such young singles, married couples, unmarried couples etc which help marketers to develop appropriate products for each stage.( 4ccupationThe occupation of a person has significant impact on his buying behavior. &or e$ample a marketing manager of an organi ation will try to purchase business suits, whereas a low level worker in the same organi ation will purchase rugged work clothes.( +conomic *ituation  Consumer economic situation has great influence on his buying behavior. If the income and savings of a customer is high then he will purchase more e$pensive products. 4n the other hand, a person with low income and savings will purchase ine$pensive products.( !ifestyle!ifestyle of customers is another import factor affecting the consumer buying behavior. !ifestyle refers to the way a person lives in a society and is e$pressed by the things in his5her surroundings. It is determined by customer interests, opinions, activities etc and shapes his whole pattern of acting and interacting in the world.( 3ersonality3ersonality changes from person to person, time to time and place to place. Therefore it can greatly influence the buying behavior of customers. ctually, 3ersonality is not what one wears6 rather it is the totality of behavior of a man in different circumstances. It has different characteristics such as' dominance, aggressiveness, self-confidence etc which can be useful to determine the consumer behavior for particular product or service.7. 3sychological &actorsThere are four important psychological factors affecting the consumer buying behavior. These are' perception, motivation, learning, beliefs and attitudes.( #otivationThe level of motivation also affects the buying behavior of customers. +very person has different needs such as physiological needs, biological needs, social needs etc. The natureof the needs is that, some of them are most pressing while others are least pressing. Therefore a need becomes a motive when it is more pressing to direct the person to seek satisfaction.( 3erception*electing, organi ing and interpreting information in a way to produce a meaningful e$perience of the world is called perception. There are three different perceptual  processes which are selective attention, selective distortion and selective retention. In case of selective attention, marketers try to attract the customer attention. 8hereas, in case of selective distortion, customers try to interpret the information in a way that will support what the customers already believe. *imilarly, in case of selective retention, marketers try to retain information that supports their beliefs.  ( )eliefs and ttitudesCustomer possesses specific belief and attitude towards various products. *ince such  beliefs and attitudes make up brand image and affect consumer buying behavior thereforemarketers are interested in them. #arketers can change the beliefs and attitudes of customers by launching special campaigns in this regard.
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