The Marketing campaigns done on regular basis can influence the consumer purchasing decision to such an extent that they may opt for one brand over another or indulge in indulgent or frivolous shopping. Marketing campaigns if undertaken at regular intervals even help to remind consumers to shop for not so exciting products such as health products or insurance policies.
Consumer spending decisions are known to be greatly influenced by the economic situation prevailing in the market. This holds true especially for purchases made of vehicles, houses and other household appliances. A positive economic environment is known to make consumers more confident and willing to indulge in purchases irrespective of their personal financial liabilities.
Influences and Attitudes within Consumer Behaviour Process
At the personal level, consumer behavior is influenced by various shades of likes, dislikes, priorities, morals and values. In certain dynamic industries such as fashion, food and personal care, the personal view and opinion of the consumer pertaining to style and fun can become the dominant influencing factor. Though advertisement can help in influencing these factors to some extent, the personal consumer likes and dislikes exert greater influence on the end purchase made by a consumer.
Group influence is also seen to affect the decisions made by a consumer. The primary influential group consisting of family members, classmates, immediate relatives and the secondary influential group consisting of neighbors and acquaintances are seen have greater influence on the purchasing decisions of a consumer. Purchasing power of a consumer plays an important role in influencing the consumer behavior.
What is consumer behaviour?
The consumers generally analyze their purchasing capacity before making a decision to buy and products or services. The product may be excellent, but if it fails to meet the buyers purchasing ability, it will have high impact on it its sales. Segmenting consumers based on their buying capacity would help in determining eligible consumers to achieve better results. Understanding, analyzing and keeping track of consumer behavior is very critical for a marketing department to retain their position successfully in the market place.
There are various other factors too that influence consumer behavior apart from the four listed above. Please tell us which of the following data-processing activities you agree to. We will not use your data for any other purposes. As major power of influence within the purchasing process the environmental and personal fac-tors as well as the marketing mix will be highlighted especially. For clarifying the importance of further discussed theoretical models as well as illustrating its ubiquity an practical example of a day-to-day purchasing decision will be discussed.
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5 Common Factors Influencing Consumer Behavior
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