Tags:
Consumer behaviour highlights the buying intentions and choices. It shows the decision power of people about what they think while making decisions related to buying. There are many factors that impact the buying behaviour of consumers. It is important to know the driving force for the consumer that compels them to buy. Every consumer has a different preference that separates him/her from the others. Given below are the five major factors as shared by experts of dissertation writing services. These influence consumer behaviours about buying choices.
Psychological Factor:
This factor plays an important role in influencing consumer buying behaviour. It incorporates the motivation, perception, and beliefs of the consumer. These three traits show that the consumer behaviour is driven by instinct. The perception a consumer makes has a direct impact over buying intention. The information they take from different resources goes through their minds as well. Through specific perception, they finally decide on their buying behaviour. The psychological influence is created through different means. This impacts the mind through indirect or direct approaches. Marketing means including advertisements and social media. These are the major drivers of psychological factors. The belief and values consumers hold are also depicted in their buying behaviour. They buy the product when they are psychologically satisfied with it. While targeting consumer behaviour, a psychological factor must be targeted the most. Our perception plays an integral role in shaping our purchasing decisions.
Social Factor:
Social factors impact the purchase decision of consumers greatly. Most of the time, consumer purchase intention is influenced by the social circle they are living in. Social circles include peers, friends, and family that have an influence on the consumer’s life. They have a significant role in consumer buying behaviour. The consumer behaviour about any product reflects the opinions of his/her family and group members. They always buy a product that has a positive word of mouth highlighted by their social circle. Word of mouth is the strongest feature of social factors that incline consumers to buy a product. Consumers are compelled more towards the product they are familiar with.
If you have seen your parent buying the same detergent at every grocery trip, you will also end up buying it because of social factors. You will hesitate to try new products. So it can be said that social factors impact the buying intention of consumers. They will go for the product if anyone from their social circle has tried it. Consumer purchase intention is based on the opinions of people in their social circle. They have a common pattern of buying with rigid reactions to new products. Also, consumer buying behaviour can be upgraded with the change in social status. Increasing stability in their status changes their buying behaviour.
Personal Factors:
Personal factors are different within demographics. The consumers' age, race, and genders highly influence their buying behaviour. The choices vary from person to person. In the age group of 14 to 25, youngsters mostly like apparent things. This may be evident because their mind attracts to trendy approaches. People at the age above 40 buy with the intention of long term sustainability. Income is another factor that impacts consumer behaviour. People with high-income purchase more. It is easy to persuade consumers with high incomes as they can afford the risks and buy new products. High income increases the purchasing power in general. The consumer with low income will buy the product with a deliberate approach. They spend on their basic needs more. The lifestyle of a consumer also has an impact on his/her buying choices. Consumers with high income and stable jobs can buy the product with ease. Their lifestyles are more luxurious than common people. Product affordability impacts the buying behaviour of consumers. If you introduce a niche product, for example, the consumer with a high-end lifestyle can buy it with ease.
Economic Factors:
The buying decision of the consumers are relying upon the market of a country as well. A nation with a good economy has a healthy average income too. When every household generates a handsome income and the economy is rising, it will impact consumer buying behaviour. The more disposable income a household has, the more their buying intention can be influenced. The economic factor is different in every country. This factor includes other types of income and associates buying behaviour with income essentially. The consumers who aim to save the most portion of their income have less buying potential. Their behaviour towards purchase will be rigid in essence. The number of people working in a family also influences buying behaviour greatly.
Cultural Factor:
Research by a dissertation writing service UK shows that culture influences the consumers’ buying behaviour as they always go for the product that suits their culture. Cultural factor always shows the impact of family and group members on the buying decision of a consumer. The customer is most likely to buy a brand that they found an association with. So an emotional factor can be seen in the cultural aspect of buying behaviour. The consumer always makes a buying decision while keeping in mind the culture and values. This perspective always influences the decision of the consumer. If a person has the value of wearing unrevealing clothes, he/she will make purchase decisions accordingly. The consumer always goes for a product that is part of their culture.
So it is very important for the brands to highlight cultural aspects in the marketing of their products. This will emotionally connect the consumer with the product. The marketing strategies of the product must show that the brand considers the values of the consumer. Brands also need to come up with products that don’t hurt the values and norms of the consumer. The brand can get into trouble if it violates the values of consumers. It needs to show a lot of effort to influence consumer behaviour. If cultural factor of the consumer is aligned with a product, the consumer can easily be convinced to buy it. Culture and values are sensitive points for the consumers. They can be easily targeted through this factor.