Monday, January 11, 2010

what effects consumer buying decision?

A consumer, making a purchase decision will be affected by the following three factors:
1.Personal : Unique to a particular person. Demographic Factors. Sex, Race, Age etc.
Who in the family is responsible for the decision making?
Young people purchase things for different reasons than older people.
2.Psychological : here are only a few psychological factors-
•Motives--
A motive is an internal energizing force that orients a person's activities toward satisfying a need or achieving a goal.
Actions are effected by a set of motives, not just one. If marketers can identify motives then they can better develop a marketing mix. Such as the Maslow’s hierarchy of needs.
•Perception--

What do you see?? Perception is the process of selecting, organizing and interpreting information inputs to produce meaning. IE we chose what info we pay attention to, organize it and interpret it.
•Ability and Knowledge--

Need to understand individual’s capacity to learn. Learning, changes in a person's behaviour caused by information and experience. Therefore to change consumers' behaviour about your product, need to give them new information re: product...free sample etc.
3.Social: Consumer wants; learning, motives etc. are influenced by opinion leaders, person's family, reference groups, social class and culture.

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