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Factors Influencing Consumer Behavior

Consumer behavior is influenced by cultural, social, and personal factors. Cultural factors include subculture and social class, which shape values and behavior. Social factors comprise reference groups like family and friends, as well as roles and status. Personal factors involve characteristics like age, personality, and lifestyle. Consumer decision making involves processes like motivation, perception, learning, and memory that impact problem recognition, information search, purchase decisions, and post-purchase evaluation.

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ALI SHER Haidri
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64 views22 pages

Factors Influencing Consumer Behavior

Consumer behavior is influenced by cultural, social, and personal factors. Cultural factors include subculture and social class, which shape values and behavior. Social factors comprise reference groups like family and friends, as well as roles and status. Personal factors involve characteristics like age, personality, and lifestyle. Consumer decision making involves processes like motivation, perception, learning, and memory that impact problem recognition, information search, purchase decisions, and post-purchase evaluation.

Uploaded by

ALI SHER Haidri
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Analyzing Consumer

Markets
Muhammad Umair Raza
What Influences Consumer Behavior
Consumer Behavior: is the study of how individuals,
groups, and organizations select, buy, use, and dispose off
goods, services, ideas, or experiences to satisfy their needs
and wants.
Consumer’s buying behavior influenced by
Cultural Factors
Social Factors
Personal Factors
Cultural Factors
Culture: Culture is the fundamental determinant of a
person’s wants and behavior.
Sub Cultures: that provide more specific
identification and socialization for their members.
Includes nationalities, religions, racial groups, and
geographic regions.
Social Classes: relatively homogeneous and enduring
divisions in a society. Members who share similar
values, interests, and behavior.
Social Factors
Reference Groups
Family
Role and Status
Reference Groups

A person’s reference groups are all groups that have a


direct (f to f) or indirect influence on their attitudes
and behavior.
Primary Groups: interacts fairly and informally such as
family, friends, neighbors, and coworkers.
Secondary Groups: Such as religious, professional and
trade union groups, which tends to be more formal
and less continues interaction.
Reference Groups
Aspirational Groups: are those a person hopes to join
Dissociative Groups: are those whose values and
behavior an individual rejects.
Opinion Leader: is the person who offers informal
advice or information about a specific product
category.
Family
Family of orientation: consists of parents and siblings

Family of Procreations: Person’s spouse and children


Roles and Status
Role: consists of the activities a person is expected to
perform.
Personal Factors
Age Personality
Life cycle stage Values
Occupation Lifestyle
Wealth Self-concept
Brand Personality
Sincerity
Excitement
Competence
Sophistication
Ruggedness
Lifestyle Influences
Multi-tasking
Time-starved
Money-constrained
Key Psychological Processes
Motivation
Perception
Learning
Memory
Motivation

Maslow’s Herzberg’s
Freud’s Hierarchy Two-Factor
Theory of Needs Theory

Behavior Behavior Behavior is


is guided by is driven by guided by
subconscious lowest, motivating
motivations unmet need and hygiene
factors
Maslow’s Hierarchy of Needs
Physiological needs
Safety needs
Social needs
Esteem needs
Self-actualization needs
Perception
Selective attention
Selective retention
Selective distortion
Subliminal perception
Consumer Buying Process
Problem recognition
Information search
Evaluation
Purchase decision
Postpurchase behavior
Sources of Information
Personal
Commercial
Public
Experiential
Non-Compensatory Models of Choice
Conjunctive
Lexicographic
Elimination-by-aspects
Perceived Risk
Functional
Physical
Financial
Social
Psychological
Time
Other Theories of
Consumer Decision Making
Involvement Decision Heuristics
Elaboration Likelihood Availability
Model Representativeness
Low-involvement Anchoring and
marketing strategies adjustment
Variety-seeking buying
behavior
Mental Accounting
Consumers tend to…
Segregate gains
Integrate losses
Integrate smaller losses with larger gains
Segregate small gains from large losses

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