Factors affecting buying behavior of an

Factors influencing buying decision

Major marketers understand that if they can identify consumer motives, then they can develop a better marketing mix that will be more effective in reaching targeted consumers. A positive economic environment is known to make consumers more confident and willing to indulge in purchases irrespective of their personal financial liabilities. Economic Situation Consumer economic situation has great influence on his buying behavior. Also, the reason for the dinner will also determine the extent of the decision making. Perception is the process of selecting, organizing and interpreting information as inputs, to produce meaning. We will remember only some of them. Role and status People who belong to different organizations, groups or club members, families play roles and have a status to maintain.

Limited Decision Making—Consumers exhibit limited decision making when purchasing products that are bought only occasionally—and not frequently. Here we should note that buying roles change with change in consumer lifestyles.

Factors affecting consumer behaviour with suitable examples

The nature of the needs is that, some of them are most pressing while others are least pressing. Consumer behaviour is physiological it is human behaviour it can change with the slightest change in the market, the atmosphere and the trend. Some purchases are routinary, almost thoughtless, as a habit, but people can spend days or even weeks trying to decide about others. It is important to know what social class is being targeted as normally the buying behaviour of a social class is quite similar. The influence of culture on the purchasing behavior varies from country to country, therefore sellers have to be very careful in the analysis of the culture of different groups, regions or even countries. Family Buyer behavior is strongly influenced by the member of a family. Since the man is a social animal who likes to be acceptable by all tries to imitate the behaviors that are socially acceptable. Hence, the social factors influence the buying behavior of an individual to a great extent. Thus, the behavioral patterns are developed from the culture where he or she is brought up. For example a woman is working in an organization as finance manager.

Routine items are those we purchase almost automatically. Life style People originating from different cultures, sub cultures, occupations and even social class have different styles of living.

For example a woman is working in an organization as finance manager. Also, the reason for the dinner will also determine the extent of the decision making.

In recent years, however, old age brings us back to more fundamental demands, such as those of our childhood.

psychological factors affecting consumer behaviour

What drives consumers to choose a particular product with respect to others is a question which is often analyzed and studied by marketers. Lifestyle Lifestyle of customers is another import factor affecting the consumer buying behavior.

Reference groups also include opinion leader a person who influences other because of his special skill, knowledge or other characteristics.

factors influencing consumer behaviour ppt

The occupations group has above average interest in buying different products and services offered by organizations.

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4 important Factors that Influence Consumer Behaviour