Female consumers increasingly prefer personalized consumer, the more expensive luxury fashion, this feature more prominent, so the study of women's consumer psychology can help develop marketing strategies. Female consumers have strong communication skills, ability to infect and spread ability, prone to impact on the surrounding consumers. Female consumer market is a vast market potential is enormous, because of the special status and special role of women in consumer activity, forming a unique consumer psychology. Market research should pay full attention to this vast subject, improve production and management, and attract female consumers. Female consumer psychology Overview: Female consumer psychology refers to female consumers in the purchase
Moreover, life styles and buying considerations and decisions differ widely according to the nature of the occupation. Income level of people is another factor which can exert influence in shaping the consumption pattern. way of living as expressed in his activity, interests and opinions that portrays the “whole person” interacting with the environment. Marketing managers have to design different
These all comes under personal factors which influence the decision of buyer. For example a young boy would like to buy a trendy bike where as a middle age man would go for car. All the factors which are motioned above influence the buyer decision directly or indirectly so all of them play a very major role in understanding the consumer behavior. This is very complex processes and therefore needs a detailed and vast study or market research. As every individual is different his needs and wants are also different so to understand the common reference point and to create and deliver the value to customer and what he wants is very difficult.
Factors influence customer behavior Apart from the individual utility and societal aspects that influences the consumer choice of luxury brand, some other factors include the financial factors also determine the consumers’ decision to settle on a luxury product. People like to be identified with better items that complement their self-image but given the fact that luxury brands are usually expensive; consumers may deter or decline from making purchases based on financial limitations. Khor (2010) explores diverse factors influencing consumers’ purchase of luxury brands. An understanding of value attributed to the demanded products influences consumers’ behaviors. The functional attributes of different brands also influence the choices made
Social influence A consumer's consumption pattern is a reflection of his or her social class position. It is a more significant determinant of his or her buying behaviour than just income.62 People tend to associate themselves with the current social class position they are in or the class above them.63 Thus, they are more likely to buy branded products, which can convey brand status of affluence, wealth and social class. If brand status is important to consumers but they are unable to afford
In this stage, the consumer evaluates the various available alternatives, which in return affects the purchase intention. The next stage is the choice and purchase, which gets impacted by individual differences. The fourth stage is the decision process variable stage which proposes the individual influences and affects the various stages involved in the decision making process (Kim 2002). Finally the fifth stage in this decision making model is the external influence stage, this stage proposes an environmental and situational influences that affects the purchaser and his decision making process. Nonetheless, the environmental influencing factors may vary depending on the surrounding of the consumer like the culture sub-culture, financial status, need and requirement, social class, reference groups, family and other normative (Singhi & Shukla
This is often referred to as consumer influence rather than putting the consumer at the centre of the organization in a process which is often referred to as consumer dominion. 2.3.2 What Influences Consumer Behavior Marketers must fully understand both the theory and reality of consumer behavior. A consumer’s buying behavior is influenced by cultural, social, and personal factors. Cultural factors exert the broadest and deepest influence. Cultural Factors: Culture element refers to the beliefs, values, and views shared in a society.
Consumers behavior is the indicator of influences of factors such as age, occupation, lifestyle, economic condition and personality. We can understand the buying behavior by the study of consumers purchasing habits, tendencies and preferences. A persons work or profession has direct influences on his buying of goods and services. Age of the consumer at time of purchasing determines his liking of goods. A young boy would like to buy smart phone and jeans –shirt for him.
The marketers need to have a careful watch on these factors- 1. Cultural factors are influenced by values, beliefs and consumers perceptions. The economic factors are influenced by family monthly income, disposable, discretionary and future expectations in income. Social factors influencing consumer behaviour are reference groups, peer groups, family, and roles and status. Motivation, perception, learning and attitudes are the factors influencing the consumers psychologically.
Companies can make sound marketing decisions based on their knowledge about consumer requirements and perception. A sound understanding of consumer perception is critical to influence consumers and that is the difference between favorable or unfavorable product image. A study on consumer perception helps to understand the behavior of the customer by indicating consumer expectations. Consumer perception is also important to understand the factors that influence product loyalty. Through perception study a company finds possible ways to promote its products through effective fulfilment of customer