Few of the important Psychological Factors are: Self-Concept, Motivation, Perception, Knowledge and Belief and Attitudes. Psychological Factors The Internal influences that have effect on consumer behavior consist of an individual’s perception, learning, memory, motives, personality, emotions and attitudes. (Hawkins & Mothersbaugh, 2010, 274-275). The buying behavior of consumers is affected by various of psychological factors. The most important ones Motivation, Perception, Self-concept, Knowledge and Belief and Attitudes.
Contrary to this, the personality for a brand is perceived, created and influenced by contact consumers have on the brand direct or indirect. When people associated with the brand becomes the brand imagery, the personality traits of the individuals gets associated with the brand making it the brand personality hence it can defined as "the set of human characteristics associated with the typical user of a brand", the people involved in creating the brand imagery vary in profiles starting from the CEO of the company to the users of the brand. According to Kassarjian (1971), brand personality has enjoyed some popularity and application among advertising practitioners, academic interest in the construct remained limited because its usefulness.A change was observed after the general scale of measurement of brand personality using the 5 dimensions which was proposed by Aaker in 1997. In contrast to the product-specific attributes and features which is considered as the performance centric measurement for customers, brand personality is perceived to be self-expressive oriented (Keller, 1993). Researchers have also found that brand personality helps the consumers to express themselves better getting closer to their real or ideal self while using the brand.
Marketing is a business with the specific product or service in terms of the customer’s needs and their satisfaction. In order to extend the cognitive of the product in consumers’ mind, brand name and logo both are the main elements of a product and enterprise identity as they play a significant role in the communication between the product and consumer; however, name and logo are the first impression given by the product to consumers’ mind, therefore is one of the main reason why they both are a main component of a product. The article of rebranding mergers has stated how attitudes influence consumers’ choices, and this report aims to point out few interest and considerable topics, which basic about the influence of consumers’ buying attitude
Brand awareness plays a major role in the mind of consumers while buying a good or service. If the customer is aware of the brand they will have a certain degree of assurance about acquiring the product due to the exclusivity of the brand which poses less of a risk to the consumer (Gustafson &Chabot, 2007). Any company whose goods and services have a high status and acceptability in the market is down to successful brand awareness. Hoeffler and Keller (2002) were of the opinion that brand awareness can be separated by its depth and width. Brand depth refers to the phenomenon of making a consumer able to remember or recognize a brand in the market from its competitors with relative ease whereas brand width is defined as when a certain brand comes to the mind of the customer who wants to obtain a particular good or
A good product is at the heart of brand equity and it is the primary influence of consumer experience with a brand. However, to build a powerful and leading brand, only a good product performance is not enough. Company should be attentive to its brand imagery and watch out what people think about a brand in terms of values and meaning. Brand imagery, it is not so much about what exactly the product can bring in terms of functionality. That is to say the brand imagery attempts to meet consumers’ psychological or social needs.
Brand name awareness plays vital role in consumer decision making process; if customer had already heard the brand name, the customer would feel more comfortable at the time of making decision. In recent times, the increase of buyer awareness has made buyers want to pay for their recognizable and constructive brand. Thus, it is important for businesses to create attraction in their brands to be in better position than their competitors. This is evident that the consumers disseminate and always willing to acquire a product, so here the brand awareness is always a vital factor to manipulate the buying decisions and purchase intensions (Macdonald and Sharp, 2000). Retailer as well as purchase behavior of consumer slants if a product
It is a significant aspect to bear in mind before launching a new product as mentioned previously. For a business, to avoid the risk of product failure, marketers should study the behavior of consumers and then produce accordingly. There are four different factors that have an impact on consumer behavior, and they are cultural factors, social factors, personal factors and psychological factors. The first factor is culture, which involves the thoughts, words, traditions, feelings and language of society. Cultural Factors: Culture is the part of every society and is the significant cause of a person’s wants, needs, and behavior.
Literature Review Brand and brand choice The brand, in simple words, refers to a name, design, symbol or any feature that differentiates one seller’s product and services from that of other sellers. Most people consume it as a peweful and strategically method and as a perfect differentiator To create a longer-term image in the minds of their customers. According to Phillips (1988), brand as a whole can be termed as “a trademark that conveys a promise”. This aptitude contains figurative and practical features which are connected by the market to a brand. Brand in its totality is “the sum of all marketing mix elements”, (Keller, 2002, p. 20).
Contact- 8699030868 Abstract Brand is a type of product manufactured by a particular company under a particular name. Brand is such a famous word that always comes in the minds of people before buying a product. Brand loyalty play a crucial role to boost up business performance as brand loyalty is considered as important tool which can positively change people’s buying patterns. This theoretical paper studies the impact of brands on buying intentions of consumers and factors that influence their buying decision. Introduction People in our society are so brand conscious that they want everything with a name called brand.
The study focuses on the brand and its links with consumer decision making process regarding purchase of a product. Consumers consider some attributes of a product before making a decision in respect of purchase (Schiffman & Kanuk, 2010). Consumer perspective to a collection of some of the brand creates an overview of the product (Hawkins, Best, & Coney, 2004). The view of consumers about a product is a collection of attributes that has a lot of benefits to meet their needs (Assael, 2004). “Brand equity is a set of brand assets and liabilities linked to a brand, its name and symbol that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers” (Cravens, 2003) Brand fairness has a positive impact on buying decisions, customers Feel by heights of brand equity for the first time after use and then tend to make buying decisions, they use brands that is slightly aware with its name and express value that this worth has made for them.