guarantees that the delivered paper, be it an essay or a dissertation will be % plagiarism-free, double checked and scanned Situational Influences The Consumers Face meticulously. How it works 7 Sep Topic title: "Assignment " Studybay is a freelance platform. You get to choose an expert you'd like to work with. Unlike with other companies, you'll be working directly with Situational Influences The Consumers Face your writer without agents or intermediaries, which results in lower prices The influences on consumer behavior are forming the third main part of this “Hauptseminar” paper, which is subdivided into the buying situation, personal influences, such like lifestyle, stage in the life cycle, or beliefs and attitudes, and the social influences, such like family, culture, and geodemographics. The summary forms the
Factors That Influence Consumers’ Buying Behavior
Consumer behavior is influenced by many different factors. A marketer should try to understand the factors that influence consumer behavior. Here are 5 major factors that influence consumer behavior:. Human psychology is a major determinant of consumer behavior. These factors are difficult to measure but are powerful enough to influence a buying decision. When a person is motivated enough, it influences the buying behaviour of the person. A person has many needs such as the social needs, basic needs, security needs, esteem needs and self-actualization needs.
Out of all these needs, the basic needs and security needs take a position above all other needs. Hence basic needs and security needs have the power to motivate a consumer to buy products and services.
Consumer perception is a major factor that influences consumer behavior. Customer perception is a process where a customer collects information about a product and interprets the information to make a situational influences the consumers face image about a particular product.
When a customer sees advertisements, promotions, customer reviews, social media feedback, etc. relating to a product, they develop an impression about the product.
Hence consumer perception becomes a great influence on the buying decision of consumers. Learning comes over a period of time through experience. While a skill can be gained through practice, knowledge can be acquired only through experience.
Learning can be either conditional or cognitive. In conditional learning the consumer is exposed to a situation repeatedly, thereby making a consumer to develop a response towards it. Whereas in cognitive learning, the consumer will apply his knowledge and skills to find satisfaction and a solution from the product that he buys.
Consumers have certain attitude and beliefs which influence the buying decisions of a consumer, situational influences the consumers face. Based on this attitude, the consumer behaves in a particular way towards a product. This attitude plays a significant role in defining the brand image of a product. Hence, the marketers try hard to understand the attitude of a consumer to design their marketing campaigns. Humans are social beings and they live around many people who influence their buying behavior.
Human try to imitate other humans and also wish to be socially accepted in the society. Hence their buying behavior is influenced by other people around them. These factors are considered as social factors. Some of the social factors are:. Family plays a significant role in shaping the buying behavior of a person. A person develops preferences from his childhood by watching family buy products and continues to buy the same products even when they grow up.
Reference group is a group of people with whom a person associates himself. Generally, all the people in the reference group have common buying behavior and influence each other. A person is influenced by the role that he holds in the society, situational influences the consumers face.
If a person is in a high position, his buying behavior will be influenced largely by his status. A person who is a Chief Executive Officer in a company will buy according to his status while a staff or an employee of the same company will have different buying pattern. A group of people are associated with a set of values and ideologies that belong to a particular community. Some of the cultural factors are:. 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. Within a cultural group, there exists many subcultures. These subcultural groups share the situational influences the consumers face set of beliefs and values. Subcultures can consist of people from different religion, caste, geographies and nationalities.
These subcultures by itself form a customer segment, situational influences the consumers face. Each and every society across the globe has form of social class. The social class is not just determined by the income, but also other factors such as the occupation, family background, education and residence location.
Social class is important to predict the consumer behavior. Factors that are personal to the consumers influence their buying behavior. These personal factors differ from person to person, thereby producing different perceptions and consumer behavior.
Age is a major factor that influences buying behavior. The buying choices of youth differ from that of middle-aged people. Elderly people have a totally different buying behavior, situational influences the consumers face. Teenagers will be more interested in buying colorful clothes and beauty products.
Middle-aged are focused on house, property and vehicle for the family. Income has the ability to influence the buying behavior of a person. Higher income gives higher purchasing power to consumers.
When a consumer has higher disposable income, it gives more opportunity for the consumer to spend on luxurious products. Whereas low-income or middle-income group consumers spend most of their income on basic needs such as groceries and clothes. Occupation of a consumer influences the buying behavior. For example, a doctor would buy clothes according to this profession while a professor will have different buying pattern.
Lifestyle is an attitude, and a way in which an individual stay in the society. The buying behavior is highly influenced by the lifestyle of a consumer. For example when a consumer leads a healthy lifestyle, then the products he buys will relate to healthy alternatives to junk food.
The consumer buying habits and decisions greatly depend on the economic situation of a country or a market. When a nation is prosperous, the economy is strong, which leads to the greater money supply in the market and higher purchasing power for consumers. When consumers experience a positive economic environment, they are more confident to spend on buying products. Whereas, a weak economy reflects a struggling market that is impacted by unemployment and lower purchasing power.
Economic factors bear situational influences the consumers face significant influence on the buying decision of a consumer. Some of the important economic factors are:. When a person has a higher disposable income, the purchasing power increases simultaneously. Disposable income refers to the money that is left after spending towards the basic needs of a person. When there is an increase in disposable income, it leads to higher expenditure on various items.
But situational influences the consumers face the disposable income reduces, parallelly the spending on multiple items also reduced. Family income is the total income from all the members of a family. When more people are earning in the family, there is more income available for shopping basic needs and luxuries.
Higher family income influences the people in the family situational influences the consumers face buy more. When there is a surplus income available for the family, the tendency is to buy more luxury items which otherwise a person might not have been able to buy.
When a consumer is offered easy credit to purchase goods, it promotes higher spending. Sellers are making it easy for the consumers to avail credit in the form of credit cards, easy installments, bank loans, situational influences the consumers face, hire purchase, and many such other credit options. When there is higher credit available to consumers, the purchase of comfort and luxury items increases. Consumers who have liquid assets tend to spend more on comfort and luxuries.
Liquid assets are those assets, which can be situational influences the consumers face into cash very easily. Cash in hand, bank savings and securities are some examples of liquid assets, situational influences the consumers face. When a consumer has higher liquid assets, it gives him more confidence to buy luxury goods. If situational influences the consumers face consumer decided to save more, situational influences the consumers face, then his expenditure on buying reduces.
Whereas if a consumer is interested in saving more, then most of his income will go towards buying products.
Contents 1. Psychological Factors i. Motivation ii. Perception iii. Learning iv. Attitudes and Beliefs 2. Social Factors i. Family ii. Reference Groups iii. Roles and status 3. Cultural factors i. Culture ii. Subculture iii. Social Class 4.
Situational Influences on consumer decision making
, time: 15:05Situational Factors That Affect People’s Buying Behavior
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