Consumer Markets And Buying Behavior

3152 Words Oct 6th, 2014 13 Pages
Consumer Markets and Buying Behavior
When it comes to marketing the most important factor of the marketplace is the consumer. Consumer markets and consumer buyer behavior are essential areas of marketing that must be taken into account when constructing and implementing a market strategy. Understanding what affects consumer behavior can make the difference between a successful marketing campaign and one that doesn’t reach its objectives. This paper will cover several factors of consumer behavior such as; characteristics affecting consumer behavior, types of buying decision behavior, and the buyer decision process.
Characteristics Affecting Consumer Behavior The first topic, characteristics affecting consumer behavior, entails several different characteristics see Figure 1. Each one of these characteristics affects how a consumer will view a product and their decision on if they will purchase a product or not. According to Kotler and Armstrong (2012), “For the most part, marketers cannot control such factors but they must take them into account.

Figure 1. Characteristics affecting consumer behavior. From “Principles of Marketing” (p. 151), by P. Kotler& G. Armstrong, 2012, Boston, MA: Pearson Prentice Hall.
Cultural Factors Cultural factors are what a person is exposed to when they are growing up in society and include; culture, subculture, and social class. Cultural factors are a person’s basic values, perceptions, wants, and behaviors that they have learned…
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