What are the 5 factors influencing consumer behavior?
3.2 The factors which influence consumer behaviour
- Psychological (motivation, perception, learning, beliefs and attitudes)
- Personal (age and life-cycle stage, occupation, economic circumstances, lifestyle, personality and self concept)
- Social (reference groups, family, roles and status)
- Cultural (culture, subculture, social class system).
What are the personal factors that influence consumer Behaviour?
Personal factors include: age, occupation, life cycle, economic, lifestyle, personality and self-concept. Based on prior research evidence, the factors for consumer behaviour in HE adapted by the authors are: gender/sex, age, family, prior education, income and lifestyle.
What factors affect consumer behavior?
There are four important psychological factors affecting the consumer buying behavior. These are: perception, motivation, learning, beliefs and attitudes. The level of motivation also affects the buying behavior of customers.
What are the factors influencing consumer behavior economic factor?
Economic factors that influence consumer behaviour are a) Personal Income, b) Family income, c) Income expectations, d) Savings, e) Liquid assets of the Consumer, f) Consumer credit, g) Other economic factors. The personal income of a person is determinant of his buying behaviour.
What are some of the social influences on consumer behavior?
Social class can have a profound effect on consumer spending habits. Perhaps the most obvious effect is the level of disposable income of each social class. Generally, the rich have the ability to purchase more consumer goods than those with less income, and those goods are of higher quality.
What are the social and cultural influences on consumer Behaviour?
The Various Cultural and Social Factors that affect the decision making process for a consumer are: Culture. Sub-culture. Social Class.
What factors are important in reference group influence?
Reference groups have certain characteristics that affect their influence on consumers. They establish norms, roles, socialization, status and power.
What are the social factors that affect marketing?
Social Factors These factors include – population growth, age distribution, health consciousness, career attitudes and so on. These factors are of particular interest as they have a direct effect on how marketers understand customers and what drives them.
What are the three social factors?
Socially factors are things that affect someone’s lifestyle. These could include wealth, religion, buying habits, education level, family size and structure and population density.
What are examples of sociocultural factors?
Examples of positive sociocultural factors are strong families, education, healthcare, faith-based, housing, recreational and arts programs, and supportive community-based programs.
What are the social factors in business?
Some examples of social factors that affect retail businesses include:
- Acceptance of internet commerce.
- Advertising preferences.
- Age distribution.
- Buying habits.
- Comfort with technology.
- Customer service expectations.
- Disposable income levels.
- Education level.
What are the factors of social changes?
Some of the most important factors of social change are as under:
- Physical Environment: Certain geographic changes sometimes produce great social change.
- Demographic (biological) Factor:
- Cultural Factor:
- Ideational Factor:
- Economic Factor:
- Political Factor:
What do you mean by social factor?
Social factors represent another important set of influences on consumer behavior. Specifically, these are the effects of people and groups influencing one another through culture and subculture, social class, reference groups, and family.
What are 4 socio economic factors?
Social and economic factors, such as income, education, employment, community safety, and social supports can significantly affect how well and how long we live. These factors affect our ability to make healthy choices, afford medical care and housing, manage stress, and more.
What are the key factors of culture?
The major elements of culture are symbols, language, norms, values, and artifacts. Language makes effective social interaction possible and influences how people conceive of concepts and objects. Major values that distinguish the United States include individualism, competition, and a commitment to the work ethic.
What is the single most important factor in any culture?
Religion is the single most important factor in any culture because is determines how people live.
What are the factors of culture to be dynamic?
Add multiple layers of culture to the conversation—such as time, power and authority, emotion, age, gender, religion, nationality, and even previous intercultural interactions—and communication at a cross-cultural level becomes complex and hard to manage.
What are the factors that affect and influence the culture and music of a country?
Answer: I think the factors that affect and influence the culture and music of a country is the traditions, the communications, and beliefs of a certain country.
What are the two factors affecting values formation?
Personal values will be developed through being influenced by family, culture, society, environment, religious belief and ethnicity (Blais, 2010).