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Individual consumer behavior encompasses the research, selection, purchase and consumption of goods and services to meet specific needs. The consumer journey is a physiological process driven by emotions. The more you know about how people feel, why they make certain buying decisions and where they decide to shop, the better you can align your products and services — as well as your advertising and marketing campaigns — to their needs. In La Salle University’s online MBA program, students gain insights into consumer behavior through a course on the topic. Many broad categories influence consumer behavior and include important factors for each: Personal InfluencesIndividuals vary in backgrounds, personality, temperament and perceptions, so the predominant factors in one person’s consumer behavior may be less important to someone else. Generally, the most important personal factors marketers and businesses consider are:
Social InfluencesHuman beings are one of the most social of all species. What individuals do and buy is largely shaped by social influences, including:
Cultural InfluencesLike social influences, cultural factors exert considerable influence on individuals, starting as early as childhood. Most people would be very different consumers had they come from another culture.
Psychological InfluencesPerception, motivation, beliefs and attitudes all determine the conscious and subconscious thought processes that a consumer undergoes before eventually making a purchase, whether it’s an extensively researched decision or an impulse buy.
Mastering consumer behavior takes extensive training. The La Salle University MBA online program prepares professionals to make informed business and marketing decisions that account for the many factors that influence consumer behavior. Learn more about the La Salle University Master of Business Administration General Online program. Sources: Clootrack: Major Factors Influencing Consumer Behavior Educba: 4 Important Factors That Influence Consumer Behaviour
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How do psychological factors influence consumer buying behavior?The key psychological factors to understand when considering consumer behavior are motivation, perception, attitudes and beliefs, along with lifestyle. Understanding these factors will assist any marketer in understanding the behavior of their consumers in order to successfully appeal to them.
What are the major factors that influence consumer buyer behavior explain?A consumer's buyer behaviour is influenced by four major factors: Cultural, Social, Personal and Psychological. Cultural factors include a consumer's culture, subculture and social class. These factors are often inherent in our values and decision processes.
What are the 5 psychological factors?The traits that constitute the five-factor model are extraversion, neuroticism, openness to experience, agreeableness, and conscientiousness.
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