Consumer behavior refers to the selection, purchase and finally consumption of the goods and services what a consumer want to satisfy his wants. Before consuming a product the person opt for buying goods or services on the basis of its own behavior, here that behavior is the consumers buying behavior. Consumer buying behavior is a process whereby individual decides what, when, where, how and from whom to purchase the goods and services. These are the factors which affect consumer buying behavior.
Meanwhile there are other factors which influence the consumer buying behavior they are Cultural, Personal, Psychological and Social factors. Let’s understand those factors also in detail which affects consumer buying behavior.
Cultural Factors
- Culture – Culture is complex of symbol and artificial created by a society and handed down from generation to generation as determinants and regulators of the human behavior. Culture contains habits, skills, art, institute and vales of a given group of people at a particular place and time. Although world over people have same basic needs but how these needs are transferred into wants and how people go about satisfying those wants vary greatly as a result of their diverse culture. For example, bargaining for goods and services is common in India, in contrast to western tradition, where bargaining might be considered rude and abrasive.
- Sub Culture – Within the culture, there are segments that share distinguish meaning, vales and patterns of behavior that differ from those of overall culture. The sub culture may be based on factors such as national origin, geographical region or religion.
- Social Class – Social class is division of a ranking within, society based on education, occupation and type of residential hood. The class system may be based on religion, kinship or landed wealth. The social classes tend to have varying attitudes and values that are reflected in the consumer behavior of their members. The typical classes are Upper Class, Upper Middle Class, Middle Class, Lower Middle Class and Lower Class.
Personal Factors
- Age – The kind of services people buy change over the course of their lifetime. For instance a child never uses the Razor because he does not need it but after when he became mature man then he needs it.
- Economic Situation – The income and the reserved money also plays important role in affecting the buying behavior of the person. If individual have extreme money so his buying nature would be more and qualitative one but in total opposite way the buying would be planned and limited only.
- Lifestyle – People who have habit of relying on luxury and lifestyle good can also changes the pattern of purchasing good. For instance Samsung and Apple mobiles are too good but a person who wants lifestyle product will sure for apple product because it is a top brand.
- Occupation – Employment pattern also affects services. Several jobs requires specialized equipment or clothing, In addition, people buy services that will give them greater status in the workplace.
- Personality – Personality can be also defined as the aggregation of an individual’s trait or characteristics that make him or her unique. Some people are outgoing and others are shy. Some are nonconformists and others are cautious and so on.
Psychological Factors
- Attitude and Beliefs – An attitude is a positive or negative evaluation, feeling or tendency towards something. Beliefs are accepted facts (Right or Wrong). People use their attitude and beliefs against buying of any goods and services which directly affects the consumer buying behavior.
- Motivation – Motivating is another great factor which changes the buying pattern of consumer. For instance if a seller successfully motivates a buyer to purchase a specific goods and services by using its motivational techniques then it is possible to change the buying behavior of goods and services.
- Perception – Every individual have their own perception or observation against the benefits of good. If they think that the goods and service are superb then they will only buy that goods and services every time and this affects the purchasing pattern of people.
Social Factors
- Family Influence – As the fundamental social unit, the family’s influence on consumer behavior is most important. Family acts as a purchasing unit. In the family children adopts particular form of purchasing behavior in the purchase of products and services and act as a major reference groups. In many cases, the children imitate the elders.
- Reference Group Influence – A group that serves as a reference point and influence and individual’s affective response, cognition and behavior. It influences a person’s thoughts and actions. Most people rely on several reference groups for information on various groups or relating to different decisions.
These are the factors which affects the buying behavior of consumer.
