• Psychological factors: Psychological factors such as need, motivation, personality, lifestyles etc affects very much in influencing consumer behavior as they purchase only to satisfy their needs. • Social factors: Social factor such as status, caste, sub-caste plays an important role in buying decision of consumers. Review of
When a business plans to launch a new product, there are different things to keep in mind before doing so. The consumer buyer behavior is an important thing to take into consideration. This assignment will convey how some factors affect the consumer behavior, and how these factors play a big role in influencing what people choose to buy. Consumer behavior is simply the study of the behavior of customers while buying any product. It is a significant aspect to bear in mind before launching a new product as mentioned previously.
The environment factor can also affect the customer’s stimuli. Environment factors such as political, economic, social and technological will directly stimulate the customer in purchasing. After the stimuli process, it comes to consumer’s black box which illustrates the characteristics and psychological of consumer. The characteristics of consumers will be influenced by the cultural, social and personal factors. The psychological factors are motivation, perception, learning, beliefs and attitudes which will affect consumer buying decision.
Quality: is a crucial aspect in the buying decision process. It is growing in importance due to consumers becoming more health focused. The variety of products within a store also impacts customer’s supermarket preference. Loyalty cards: The introduction of loyalty programs give purchasers the right to discounts on purchases or to an allocation of points that they can use for future purchases, essentially saving them money. Online delivery service: Tesco,
Dodds et al. (1991), Grewal et al. (1998) view that brand awareness acts as a critical factor in the consumer purchase intention, and certain brands will accumulate in consumers’ mind to influence consumer purchase decision. According to them, a product with a high level of brand awareness will receive higher consumer preferences because it has higher market share and quality evaluation; hence, brand awareness can help consumers to recognize a brand from a product category and make purchase decision by Percy & Rossiter, (1992). According to Herbig & Milewicz (1993); Janiszewski & Van Osselaer (2000); Turley & Moore (1995) brand name offers a symbol that can assist consumers to identify service providers and to predict service results; as a consequence, brand awareness will affect purchase decision through brand association, and when a product owns a positive brand image, it will help in marketing activities (Keller 1993).
Once the target market has been distinguished, it is now important to get to know these customers in more detail. Knowledge of your customers will help to distinguish patterns and even “buying cycles”. Surveys are a great way to gather in-depth information to find out what their customer wants, when they want it and where they want to buy it. The picture below outlines further steps in the marketing strategy process which included analyzing the competition which we have done in our “competitor analysis” section, it also shows defining the marketing mix which we will go into more detail later in this report, along with financial reports on how much of our funding
When the need is urgent, it becomes a motive. Perception involves choosing, organizing and assimilating information for a meaningful experience. Consumers go through three perceptual processes. These are: • selective attention – where marketers attract the buyer’s attention • selective distortion – where the buyer interpret the information to suit their beliefs • selective retention – where marketers try to retain information that supports their beliefs Beliefs and Attitudes surround a consumer’s view of a product and alsobuild the brand image, thereby affecting their buying behaviour. This triggers a marketer’s interest in them.
Shahminal, Guha sanjay (2013) says that window display, visual signs play an integral role in impulse buying of customers . K.Venkateswara Raju, (2015) says that Advertisements , Visual Appearances, situational factors will will play an critical role in encouraging impulse buying among consumers .Dr.M.Kishorebabu , k.balaji (2015) identified that the factors like price of product, sales promotion schemes, visual appearances , festive seasons , customs and life style of people , referral groups , sales force opinions will back impulse purchases
- Advertisers can better foresee how customers will react to advertising systems. The term consumer behaviour is characterized as the behaviour that buyer show in searching down, purchasing utilizing, assessing and discarding items and services that they expect will fulfil their needs. Consumer behaviour concentrates on how people settle on choices to invest their accessible assets (time, cash, exertion) on utilization related things that incorporates what they purchase, why they purchase, when they purchase it, where they purchase it, how frequently they purchase it, how regularly they utilize it, how they assess it after the buy and the effect of such assessments on future buys, and how they discard
Some of the factors that influence the consumer buying decision in the FMCG Industry are expressed below. Factor 1: Lifestyle Lifestyle of customers is an import factor influencing the consumer buying behavior. Lifestyle refers to the way a person lives in a society and is expressed by the things in his/her environment. It is determined by customer interests, opinions, activities etc and shapes his entire pattern of acting and interacting in the world. Customers link purchase and consumption of FMCG to the upgrades in their ways of life.