Name
Name: Hafiz Muhammad Abdullah
Roll No: BBA-F15-LC-076
Instructor: Touheed Luqman
Subject: Marketing management
Topic: Different factors which affect consumer decision making
University of Sargodha Lahore campus
A buyer has particular feelings about different items. Many factors affecting consumer buying behavior like Personal factor (age, lifestyle, occupation, financial conditions, identity) psychological (inspiration, learning, beliefs, Attitude) Social (References, family, job and status) Cultural (cultural, subcultural, social class)
Personal factor
The personal factors are the individual’s components to the buyers that securely impact their purchasing behavior. These are the components that shifted from one people to other people that outcomes in an alternate arrangement of discernments, dispositions, and conduct towards specifics goods and services.
Age
The age is too much influence towards buyer buying behavior because peoples buy products according to their age. E.g. kids, teenager, adult and olds buying goods according to their life cycle in which they fall.
Income
Income of any person must influence their buying behavior. Income tells the person where they stand and what suitable for their want according to the income which they have. More personal income more expenditures they made on another item.
Occupation
Occupation of any person must influence their buying behavior. People purchase that item and services that fulfill their occupation need and play role in the society. For example Doctor purchasing behavior different from a lawyer.
Lifestyle
The behavior of the buyer’s influenced by his lifestyle. Every person living style different from each other. If any person does not like junk food then they avoid junks foods because they want to live a healthy life.
Psychological Factor
The psychological factor is the part that tells about the mind level or mind perception of the person that drives his all the activity for their comfort.
Motivation
The level of inspiration effect the consumer buying behavior. For example, if any person lives an area where their needs like security needs, basic needs etc not fulfill at a time if anyone gives at the same time they motivate and for their satisfaction, they move towards.
Perception
Thinking of the consumers towards any brand or product also affect their buying decision. The perception is the process which the help of consumers select their target organization and collect data and draw meaningful results.
Beliefs and Attitude
The people have certain beliefs and attitude towards the item on which their buy choices rests. These Attitude and beliefs have the power to react to a given item especially, these make up the brand picture that impacts the purchase behavior. So the companies try to understand their consumer attitude and beliefs and improve their product quality and marketing with the help of marketer or any other agencies.
Social factor
The social factor is the part that dominant in the society where the consumer alive. The society based on different peoples that have different behavior and taste.
Family
Family plays a key role to build any individual behavior and developing their personality. Because any child seeks from their parents and their elder siblings.
Role and Status
Any person Status and role of any person in a society make an effect of their buying behavior. If any person holding a high position in the association expected to buy that thing that fulfills their status and you supreme.
Reference Group
Common group members also influence the buying behavior of the buyer because common in group members purchase almost the same product. Almost they have share common buying behavior.
Cultural Factor
Cultural factors are the factor that person learn at the beginning stage of their life through their family socialization and any other key foundations. E.g Models of lead, the path of movement of residence, and perception are found that people make etc.
Culture
The culture different from area to area and even country to country. The culture refers to the beliefs, traditions, and practice that a specific gathering of individuals follows. For example, when a child grows his buying behavior according to their family buying behavior.
Sub-Culture
The Culture further divide into a subculture, where people divide according to their beliefs, Religions, and their nationality. Marketer and organization divide market according to the segments where they target all type of culture.
Social class
Our society divided into three different classes lower, middle and High class. The classes also influence the decision making of any people. High-class people purchase that product and services that advocate their status while the lower class purchase that product that fulfills their needs and want.
