Wednesday, January 23, 2013

Factors influencing consumer behavior

Knowing the people to whom the products are target is the best technique to provide things and satisfy them with their requirements. There are several factors found out for understanding how the consumer behavior. They are explained below.

Psychological factors

Psychology has a direct influence on consumer. This is felt within the individuals. The different psychological factors are: The first one is need and motivation. A buying process starts with recognition of need. Need is an internal stimuli that gets motivated. There are two kinds of needs; primary and secondary. According to Maslow’s hierarchical model, there are five needs
·         Physiological need
·         Safety
·         Social needs
·         Esteem
·         Self actualization
  The second comes the perception. Perception is the process of selecting, organizing and interpreting one environment to make a sense. It is the action of five senses in the body. The perception of one individual to a product is different from another. The third point is learning. Learning is the process of gaining knowledge through one experiences and interaction. Learning starts from getting stimuli from the environment. The repeated buying of a product experience a learning behavior.

 Cultural factors

   Culture is the set of values and believes that one holds in his life. This is acquired from one’s life time. The marketer should understand the culture of the country to provide right products and services to the consumers. Sub culture is another component which comes under culture. Sub culture is the culture inside the culture is known as sub culture. India has a culture and each state and district has different culture. These differences play a role in understanding consumer behavior.

   Social factors

                 Man is a social animal. He cannot run away from the society and his responsibility to the society. Reference group is the first point discussed. This is the group in which persons are referred to. This is the group in which people interact and deals with society. Every individual will be a member of any group. The group’s norms and behavior determines the consumer behavior. Family is another social factor influencing consumer behavior. Family is the group in which people are associated by blood relation or marriage. Family influences the purchasing behavior of the individuals.

Personal factors

  These are the factors related with an individual when he is there to take a purchase decision. The age of the person is the first personal factor. Age is a crucial factor. Parents decide the needs of their child. When the child grows, he starts selecting his interests. Occupation comes the second factor. Occupation is another important factor. The interest of the people towards a product may be different according to their occupation.

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