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Essay On Consumer Buying Behavior

794 Words4 Pages

People change the goods and services they buy over their lifetimes, tastes in food, clothes, furniture and recreation are often age related. Buying is also shaped by the stage of the family life cycle, the stages through which families might pass as they mature over time. Life stage change usually result from demographics and life changing events such as marriage, having children, purchasing a home, divorce, children going to college, changes in personnel income and retirement.
As their life stages change, do their behaviors and purchasing preferences changes too. A consumer does not buy the same products or services at 20 or 70 years. His lifestyle, values, environment, activities, hobbies and consumer habits evolve throughout his life.
Age and life-cycle have potential impact on the consumer buying behavior. It is obvious that the consumers change the purchase of goods and services with the passage of time. Family life-cycle consists of different stages such young singles, married couples, unmarried couples etc which help marketers to develop appropriate products for …show more content…

Schaninger also show the influence of economic factors on buyer behavior, when it comes to brand identification. These study revealed that adolescents with high earnings in the upper class were able to identify more brands than other adolescents. A very comprehensive and valuable research was conducted by in the analysis of both usage/non-usage criteria as well as frequency of use data for a large variety of products, where it was concluded that economic factors are the most important factors in explaining the consumption of low social value products and services that are not related to class symbols, he opined that it is irrational and wrong to deny the influence that income has over buying behavior, both on type and prices of clothes

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