The family is the most important consumer buying organization in society, and family members constitute the most influential primary reference group.
Study of consumer buying behavior is most important for marketers as they can understand the expectation of the consumers. It helps to understand what makes a consumer to buy a product. It is important to assess the kind of products liked by consumers so that they can release it to the market.
Consumer lifestyles – the whole pattern of acting and interacting in the world – are also an important influence on purchase decision. Finally, consumer buying behavior is influenced by four major psychological factors: motivation, perception, learning, and beliefs and attitudes.
In general, there are four factors that influence consumer behaviour. These factors impact whether or not your target customer buys your product. They are cultural, social, personal and psychological.
The buyer’s satisfaction depends on the (potential) gap between the buyer’s expectations and the product’s perceived performance. If the product fails to meet the consumer’s expectations, the consumer is disappointed. However, if the product’s performance exceeds the expectations, the consumer will be delighted.
Consumer behaviors can be grouped into four key categories: awareness, preference, engagement and advocacy. Each of these stages is important to the marketer.
Example – A study of consumer behaviour will reveal what kind of consumers buy computers, would they buy for home and personal use or for office, what features they look for, what benefit do they seek including post-purchase service, how much they are willing to pay, how many they are likely to buy, are they waiting for
Consumer behavior is the study of individuals and organizations and how they select and use products and services. It is mainly concerned with psychology, motivations, and behavior. The behavior of consumers while researching and shopping.
Cultural Factors have strong influence on consumer buyer behavior. Cultural Factors include the basic values, needs, wants, preferences, perceptions, and behaviors that are observed and learned by a consumer from their near family members and other important people around them.
3.2 The factors which influence consumer behaviour Psychological (motivation, perception, learning, beliefs and attitudes) Personal (age and life-cycle stage, occupation, economic circumstances, lifestyle, personality and self concept) Social (reference groups, family, roles and status) Cultural ( culture, subculture, social class system).
Dissonance – reducing buying behavior Like complex buying behavior, this type presupposes lots of involvement in the buying process due to the high price or infrequent purchase. People find it difficult to choose between brands and are afraid they might regret their choice afterward (hence the word ‘ dissonance ‘).
They create all usable food energy. They make their own food. They may eat plants and animals. They obtain their energy from the Sun.
The personality of individuals is a unique dynamic organisation of the characteristics of a particular person, physical and psychological, which influence behaviour and responses to the social and physical environment. It gives the impression that consumer buying is always influenced by their personality.
Four main influences impact the business buying decision process: environmental factors, organizational factors, interpersonal factors, and individual factors.