What drives consumers to choose a particular product with respect to others is a question which is often analyzed and studied by marketers. Most of the selection process involved in purchasing is based on emotions and reasoning. The study of consumer behavior not only helps to understand the past but even predict the future. The below underlined factors pertaining to the tendencies, attitude and priorities of people must be given due importance to have a fairly good understanding of the purchasing patterns of consumers 5.
All the above influence the buying decisions of consumers due to following reasons: They have used the product or brand earlier. They know what the product is all about. They have complete knowledge about the features and specifications of the product.
Tim wanted to purchase a laptop for himself.
He went to the nearby store and purchased a Dell Laptop. The reason why he purchased a Dell Laptop was because all his friends were using the same model and were quite satisfied with the product.
We tend to pick up products our friends recommend. A married individual would show strong inclination towards buying products which would benefit not only him but also his family members as compared to a bachelor.
Family plays an important role in influencing the buying decisions of individuals. A consumer who has a wife and child at home would buy for them rather than spending on himself.
An individual entering into marriage would be more interested in buying a house, car, household items, furniture and so on. When an individual gets married and starts a family, most of his buying decisions are taken by the entire family.
Every individual goes through the following stages and shows a different buying need in each stage: Tend to purchase a new house, car, household furnishings.
Spends sensibly Family with Children: Medicines, Health Products, and Necessary Items. A Ford Car in the neighbourhood would prompt three more families to buy the same model.
Secondary Groups - Secondary groups share indirect relationship with the consumer. These groups are more formal and individuals do not interact with them on a regular basis, Example - Religious Associations, Political Parties, Clubs etc.
Role in the Society Each individual plays a dual role in the society depending on the group he belongs to. The buying tendency of individuals depends on the role he plays in the society.While these different types of buyers take their purchase decision in different ways there are 7 important factors that influence all the buying decisions.
|Understanding how people arrive at their choices is an area of cognitive psychology that has received attention. Theories have been generated to explain how people make decisions, and what types of factors influence decision making in the present and future.|
|5 Common Factors Influencing Consumer Behavior||Let us go through them one by one:|
Let’s discuss the 7 most important factors that Influence the buying decision of a consumer. The purpose of this study is to identify and analyze factors that influence consumer purchasing decision of private label food products.
Method: The research identified five factors that influence consumers' purchase decision of low-price private relationship is the most important factor. If consumer perception of quality and price. REVIEW CONSUMER BEHAVIOR AND FACTORS AFFECTING ON PURCHASING DECISIONS affecting the decision making process, whatever the decision be more complex, the time needed for whole process is more.
Important point about these two factors is that the time and factor in purchasing decisions of classification. When consumers are faced with complex.
Social Factors affecting Consumer Behaviour Consumer Behaviour is an effort to study and understand the buying tendencies of consumers for their end use. Social factors play an essential role in influencing the buying decisions of consumers.
Buying decision process influenced by two factors, controllable and uncontrollable that they are important cultural factors - social, group, and individual psychological factors, and situational factors guild working of the marketing mix.
This report is to investigate the factors that will affect the choice making of purchasing Magnum ice cream in Tunku Abdu Rahman Tarc College.
Key findings Our primary objective, we are going to make a test to 30 students to bring prominence of which factors that will affect Tarc College.