Question

Seth and Elsa Robbins are trying to decide where to go on a vacation trip. Seth had been interested in going to the Florida Keys, but they rejected that based on reports from friends that it wasn't that interesting. They briefly considered a trip to Aruba, but Elsa didn't like the idea of leaving the country. Two very expensive resorts in Palm Beach were also considered, but rejected because both Seth and Elsa were afraid they would feel out of place at such "fancy" accommodations. Finally, they settle on a moderate priced motel near Disney World and Epcot Center, where they have previously enjoyed relaxing visits.

Are there other influences you would add? How do these psychological variables and social/cultural influences impact the marketing strategy used to reach these people? Which items—psychological variables or social influences—have the most influence over consumer behavior and thus are more important for the marketing strategy planner?

Answer 1

Consumer behaviour

Consumer behaviour is study of actions of the consumers in the marketplace which depends upon their psychology . It helps to understand the buying decision making process both individually and in groups.

Factors influencing Consumer Buying Behaviour

There are 4 main factors which affect consumer behaviour---------

1) Cultural factors------

It means different components related to cultural environment from which the consumer belongs.

These components are-------

a) SUB-CULTURE---- These are groups of people within a culture with shared value system based on common life experience and situation---

hispanic

Asian

African American

b) SOCIAL CLASSES---- These are society's relatively permanent divisions which comprise of similar values,interests.

c) CULTURAL TRENDS ------ The trends in a culture affect the buying decision of a consumer.

2) Social factors------

Social factors include the following----

a) REFERENCE GROUPS---- These are the groups that form a comparison or reference in forming attitudes or behaviour.

b) FAMILY---- Parents,grand parents,siblings,cousins are the most important factors influencing a consumer's buying decision.

c) SOCIAL ROLES AND STATUS--- There include the groups,family,clubs to which a person belongs . These organizations help to define role and social status.

d)THE INFLUENCERS---- These are people who act as a role model to the consumer.

3) Psychological factors--------

These factors include-----

a) PERCEPTION--- It is the process by which people select, organize and interpret information to form a meaningful picture of the world.
b) LEARNING ---- Learning is the changes in the individual's behaviour arising from experience.

c) MOTIVATION---- It is an expression of the need that is sufficiently pressing to direct the person to seek satisfaction.

d) ATTITUDES AND BELIEFS----- An attitude is a feeling or an assessment of an object or idea to act in a certain way . It allows the individual to develop a particular behaviour against an object.

On the other hand,belief is a descriptive thought that a person has about something based on knowledge and opinion or faith.

4) Personal factors--------

Personal factors comprises of the following------

a) AGE

b) INCOME

C) PERSONALITY-- It refers to the unique psychological features that lead to consistent responses to consumer's environment.
d) LIFESTYLE--- It is a person's pattern of living as expressed in his psychographics

e) OCCUPATION

f) ECONOMIC SITUATION- It includes personal income,savings and interest rates

CONCLUSION

In short, we can conclude that in consumer's buying, both psychological and social factors have equal influence ,so a marketer must consider all factors while formulating marketing strategy.