Quick Answer: What Are The 5 Factors That Guide Consumer Behaviour?

What are the four factors that influence consumer behavior?

There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system..

How does age affect decision making?

With age we gain life experiences and knowledge that guides our decision making. But we also face declines in working memory and some long-term memory. The combination of gains and losses can lead older people to use different strategies in decision making.

What are the 5 factors of consumerism?

Here are 5 major factors that influence consumer behavior:Psychological Factors. Human psychology is a major determinant of consumer behavior. … Social Factors. Humans are social beings and they live around many people who influence their buying behavior. … Cultural factors. … Personal Factors. … Economic Factors.

What are the determinants of consumer Behaviour?

Determinants of Consumer BehaviourIndividual Determinants affecting Consumer BehaviourExternal Determinants affecting Consumer BehaviourPerceptionSub-cultureAttitudeSocial ClassPersonality and Self ConceptSocial GroupLearning and MemoryFamily and Other Influences1 more row•Sep 15, 2016

How does age affect consumer behavior?

Age is an important demographic factor that affects consumer behavior. As people grow, their needs change. Similar changes come to their buying decision making patterns. … Age does not just affect buying behavior, it is also an important factor affecting market segmentation and marketing strategy.

What are the factors that influence consumer Behaviour online?

10 Factors that Influence Customer Buying Behaviour OnlineQuality of Product Description. … Shipping Costs. … Return Policy. … Convenience in Searching Products. … Ease of Navigation via Categories. … Complexity Levels in Checkout Process. … Relevance of Product Recommendations. … Categorization of New Products.More items…•

How culture influences consumer buying Behaviour?

Culture influences what feels right, normal and desirable. Retailers that ask consumers to swim against the social current are making it harder for the consumer to choose their services. It’s usually better practice to make it possible and easy for consumers to choose your product within their cultural comfort zone.

Is consumer behavior more a function of a person’s age?

With generation Consumer’s behavior depends both on a consumer’s age and generation. Age create a need in a consumer’s life which he fulfills it with a product that people of his generation consumes so a marketer have to keep these both in mind while marketing of his product.

What are the types of consumer behavior?

There are four type of consumer buying behavior: Complex buying behavior. Dissonance-reducing buying behavior. Habitual buying behavior.

What factors influence consumer behavior?

Demographics such as age, culture, profession, age and background play major roles in forming consumers’ interests and opinions. Social factors. A person’s social groups affect how they shop. Their income, education level and social class influence their buying behaviors.

What is consumer motivation?

Consumer Motivation Motivation is an inner drive that reflects goal-directed arousal. In a consumer behavior context, the results is a desire for a product, service, or experience. It is the drive to satisfy needs and wants, both physiological and psychological, through the purchase and use of products and services.

How does social factors influence affect consumer Behaviour?

Social factors affect consumer behavior significantly. Every individual has someone around influencing their buying decisions. The important social factors are: reference groups, family, role and status. … The reference group provides some points of comparison to consumers about their behavior, lifestyle or habits.

How does consumer behavior affect the economy?

The success or failure of a nation’s economy can greatly affect consumer behavior based on a variety of economic factors. If the economy is strong, consumers have more purchasing power and money is pumped into the thriving economy. If the economy is struggling, the reverse is true.

How do you change consumer behavior?

Five actions can help companies influence consumer behavior for the longer term:Reinforce positive new beliefs.Shape emerging habits with new offerings.Sustain new habits, using contextual cues.Align messages to consumer mindsets.Analyze consumer beliefs and behaviors at a granular level.