Consumer Buying Behavior

under consideration. In step 2, we assess the willingness to pay for the product under consideration, where

Social factors refer in the trend of customer which keeps changing their trend, and what the trend of their purchase. For example nowadays due to people’s work, they are really busy so they often decide to buy already cooked food.

3) Decision process: Before the consumer buys the product, he must go through the steps of decision making process, including problem recognition, searching, assessing the choices and

This model is very useful for this analysis as the number of consumers decreases from one stage to another, as we move up the model. There can be many consumers who view the product, but not everyone would buy the product. It requires a lot of work

Taking a closer look at our social class, we can see all of the social factors that are involved in the purchasing of consumer goods. Factors such as relationships, personal roles, and economic stability. Relational influences often tend to be one of the largest factors in looking at a product. Normally, a family member, friend, or coworker might convey their approval for a product, in

It also includes but is not limited to, voting rates and trends, public opinion and activism of regulatory agencies. These are all cited within Bensouusan & Fleisher’s (2012) text discussing the benefits of PEEST when in the process of strategic decision making. Economic factors include the exchange rates, GDP rates, interest rates and so on. These are all indicators of how the government is using their reforms and implementing their goals. This factor is crucial as economic development has a direct correlation with the standard of living of a country and will affect any marketing objective a company will put in place. A prime example of this is the current global recession, which has increased unemployment and lowered average disposable income per person. Thus making marketing plans less likely to succeed. Social factors highlight an consumer behavior trends and focuses on culture and lifestyle within society. These are important when deploying a new marketing strategy or objective as a greater knowledge of the social trends allows for more understanding of the market situation. Technological includes factors such as research and development (R&D), the pace of technological innovation and more abstractly the number of colleges and universities within a region . With the recent change in the world’s view on the ecological state of the earth environmental

 There are five major buying motives: physical, psychological,rational, emotional, product, and patronage. Locate a magazinead that appeals to each of these different buying motives. Selecteach ad and fill out the table below. Put the Ads in order,according to your chart and staple to this sheet.

2. Early on, researchers thought that consumers were logical problem solvers who objectively evaluated the goods and services available to them and selected those that gave them the highest utility at the lowest cost. Soon they realized that consumers were not always consciously aware of why they made the decisions they did.

These are people in our family and same social status as us. This factor would explain how outside influences help us to determine what products and services we use. The personal factor includes things such as demographics, interests, economic status, lifestyle and personality. In this factor it is clarifies how if the situation changes this will also change your personal factors. The last factor is psychological factors which include perception, beliefs, and motivation. The market allows us to see how each of these factors affects purchase decision. Understanding the role each factor contributes to the market will allow for a better marketing strategy of the Organic Baby Products.

There are 3 types of factors influencing on consumer behavior: cultural factors, social factors, and personal factors.

Social factors are demographic and cultural aspects of external macro-environment. These factors eventually affect customer needs and potential size of target markets. Typical examples of social factors are health consciousness, population growth rate, age distribution and career growth rates.

A customer’s buying behaviour is also influenced by social factors, such as the groups to which the customer belongs and social status.

There are many different types of products out there many of which have the same or offer similar functionality to each other. The differences in these products can include price, quality, functionality, and whether it is new or used. There are different types of shoppers that are attracted to different types of products. The differences between these products can increase or decrease the appeal of these products to different types of shoppers. These different types of shoppers include bargain hunters or retail-only buyers. When buying items such as groceries, textbooks, and cars bargain hunters will attempt to save money by purchasing on sale or used items, conversely, retail-only shoppers may choose to purchase items they believe to be better products or they do not wish to spend the time required to seek out the best deal.

Cultural, social, personal and psychological factors are the primary types of factors that influence consumer behavior.

Social Factors- Social Factors are the amount of money or the class that a person lives in. This affects business because the company needs to know what to sell to a certain class (upper ,middle,And upper class). Advertising aimed at upper-middle class is totally different from ads aimed