Consumer Behavior and Marketing: Factors Influencing Consumer Behavior

1865 WordsMar 8, 20118 Pages
Consumer Behavior & Marketing In their process of goods and services consumption customers are influenced by different factors that marketers study in order to satisfy customer’s needs. This research made on consumer behavior is important for companies in order to successfully establish their marketing plan, to sell their products or services and also to establish a good relationship with customers. In this paper work the three factors that were chosen to describe the impact on consumer behavior and on marketer’s decisions are family, age and ethnicity. Before explaining the impact that the three factors have it is important to understand what consumer behavior is and how it relates to marketer’s decisions. According to Solomon(2010,…show more content…
The second factor that influences consumer’s behavior it is the age. A consumers needs change through life because its lifestyle, and values he stands for changes. People react different at different ages but consumers that have the same age share almost the same values, lifestyles, desires, and ways of behaving which helps marketers to classify them in specific target markets.(Mowen and Minor, 2001, p. 287) According to their age consumers have been segmented in teenagers and Generation Y, Generation X, Baby Boomers and elderly. The first category consists of people between 14 and 18 years old and they have a great influence on what is purchased in their family because this generation has parents that have careers to pursuit or they are single parents so they tend to buy for themselves. They use social networks and text messages as a way of communicating with their friends about the brands they buy.(Hoyer and Macinnis, 2010, p.301) They are an important market for companies because it is expected that they reach in U.S. a number of 30 million by 2015 with a purchasing power of $108 billion. Marketers take advantage of their brand loyalty offering them more and more products like RosePink cosmetics and Cover Girl that produces cosmetics for this generation, but also McDonald’s targets this market. (Hoyer and Macinnis, 2010, p.303) The next category is Generation X is represented by consumers between 18 and 29 years old. In Europe their number is over 30 million and
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