What are the factors influencing Consumer Behaviour?
Updated: Sep 1, 2021
As a consumer, whenever we buy anything, knowingly or unknowingly there are multiple factors that influence your buying choices.
These can be further divided into the following categories
For a marketer, it becomes extremely crucial to be aware of each of these factors in order to come up with that perfect marketing strategy.
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Now let’s look at each of these factors in detail.
1. Cultural Factors
Now culture is the most important factor that influences a consumer right from birth.
As a growing child you look at your parents and make some general list of Do’s and Don’ts that helps you to choose products even later in life.
So as marketer’s it’s extremely crucial to determine the ‘cultural shifts’ that may take place in the minds of the consumers.
Let’s look at some examples of these cultural shifts, one of the biggest example can be the sudden movement towards healthy food products and healthier lifestyle!
Other example can be that of ensuring that your leisure is not compromised and hence you end up buying a microwave or another product like that!
It’s important to note that eventually we also need to take into account ‘sub-cultures’, these may be with respect to religion, social class, nationalities etc.
Social Class is not only determined by income, and this is crucial to know because there are multiple other factors that determine the social class of an individual.
2. Social Factors
Social factors take into account the kind of influences a consumer may come across when he/she belongs to a specific group.
The behaviour tends to be in-sync with how that group generally behaves!
The people belonging to this particular group may be further broken down into the following categories:
This is the first person who suggests an idea to buy or try a specific product
This is the person whose views or advice affects the way the purchases take place within that group.
This is any person within the group, who has the financial authority to make the final choice with respect to the purchase of the product.
This is the person who will actually make the purchase, please note that it may be the case within a group that the decider and the buyer may be different individuals.
This is the person who will actually use the product that is bought, this individual may not be the buyer and hence as marketers we must be able to understand the difference and target our communication accordingly!
It’s important to ensure that your communication is perfectly targeted towards each of these categories of individuals, for best results!
3. Personal Factors
Now these factors are exclusive in nature, what I mean to say by this is that these factors are unique to individuals.
And cannot be generalized for a group in total.
These will include factors like who in the family of this individual is responsible for the purchase decision etc.
Other personal factors will include age, sex, race, etc.
4. Psychological Factors