ADVERTISEMENTS: Some of the most important factors influencing consumer behaviour are as follows: A. It can be tough for a business to overcome or change those beliefs and attitudes. The consumer doesn’t need to look anywhere else to solve that specific problem or meet that need. They tend to selectively retain information or even distort the information to make it consistent with their previous perception of the product. Perception is a psychological variable involved in the purchase decision process that is known to influence consumer behavior. All consumers react differently towards a product depending upon their position in the hierarchy. For example, people who view themselves as having exquisite taste are willing to pay more for a specific brand or product that is perceived to be “the best.” By the same token, consumers who pride themselves on being great bargain hunters may choose a lesser-priced product, even though they might otherwise prefer the pricier option. Why did Nancy buy pizza ? Let’s look at them in detail. Perception, learning, lifestyle, and social roles C. Motivation, perception, learning, and personality D. Motivation, learning, personality, and self-concept A. Human psychology is a major determinant of consumer behavior. Geography 4. Perception is essentially the way a person selectively views, processes and interprets the larger world or any part of it. Age and Life Cycle 3. Beliefs are the way people think about a particular product or brand, while an attitude is the individual's consistently favorable or unfavorable evaluation, tendency or feeling about a product or brand. Motivation 2. These motives are the factors that influence the consumer behavior. In the previous article, we have already discussed the five major factors such as environmental factors, societal factors, cultural factors, aspirational groups and personal factors that are influencing consumer behavior. These all factors jointly shape consumer behaviour. Explain how Maslow’s hierarchy of needs works. For example, an attitude about dark chocolate might be expressed as a belief (“dark chocolate is delicious”), a feeling (“dark cho… What makes them choose one company over another? Economic Factors 2. Explain how looking at lifestyle information helps firms understand what consumers want to purchase. from USC. Grocery stores frequently place bread and milk products on the opposite ends of the stores because people often need both types of products. Psychological factors generally include: Motivation Learning Perception Attitudes and beliefs. Your email address will not be published. In selective attention, the marketer tries to gain the attention of the customer towards his offerings. eating when If you want your business to be successful, you must first understand what drives your targeted customers in their purchasing decisions. We catalog each experience we have as either good or bad. The answer can be given by understanding those forces which affect these actions. Psychological factors that determine a consumers purchasing behaviour. Consumer behaviour is a study of how people buy, what they buy, when they buy and why they buy. Lifestyle and Values 8. Personal Factors C. Psychological Factors D. Social Factors E. Cultural Factors. About Cameron Francis. These factors are difficult to measure but are powerful enough to influence a buying decision. Social Factors Influencing Consumer Behavior, Cultural Factors Influencing Consumer Behavior, Personal Factors Influencing Consumer Behavior, Economic Factors Influencing Consumer Behavior. Beliefs are the way people think about a particular product or brand, while an attitude is the individual's consistently favorable or unfavorable evaluation, tendency or feeling about a product or brand. 4) Psychological factors – there are four psychological factors that influence buying behaviour – motivation, perception, learning, and beliefs and attitudes. I. ADVERTISEMENTS: There are many factors affecting consumer behaviour. Although the company is a manufacture of beverage, it business has… 3. Perception, learning, beliefs and attitudes, and personality B. Different people have different perceptions about the same product depending on their individual beliefs and attitudes which give rise to selective distortion. 4. Consumer Behaviour – Psychological factors; 4 psychological factors affect consumer behaviour very strongly. It is for this reason that for certain jobs as those of sales representatives youngsters are always preferred. Selective Attention, Selective Distortion, and Selective Retention. Psychological factors play important role to determine the consumer behaviour. A consumer buying behavior is influenced by social, cultural, personal and psychological factors. Some motives are socially learned (e.g. Consumers are above all human beings, and all human beings are products of their experiences. 4. There are several factors which affect consumer behaviour related to purchase and consumption of products and service directly or indirectly these can be classified as culture, social group, personal attributes and psychological factors. Psychological factors include motivation, perception, learning, beliefs and attitudes. A consumer’s beliefs and attitudes greatly influence the buying decisions that consumer makes. Other variables included in this consumer process include: motivation, learning, attitude, personality, and lifestyle. How do they decide which product to buy, or when? Motivation –A motive is an internal force that drives a person to do something i.e. No, you aren’t necessarily directionally challenged. This psychological factor decides the personality and lifestyle. An individual and a consumer is led by his culture, his subculture, his social class, his membership groups, his family, his pes his psychological factors, etc.. ABSTRACT Consumer Buying Behaviour refers to the buying behaviour of the ultimate consumer. She holds a B.A. an ind… Perception. These experiences influence a shopper’s behavior by changing the way the consumer reacts to products similar to those they’re familiar with. Another point worth mentioning here is that the older … A consumer’s motivation is the basic degree of the psychological drive behind a specific purchase. i.e. Social Class 5. For example, many consumers choose to buy Toyota cars because they have had good experiences with their previously owned Toyota cars. To maximize your sales revenue and grow your business, it’s important to leverage the four key psychological factors that influence consumer purchasing: motivations, perceptions, experience and beliefs. Explain what marketing professionals can do to influence consumers’ behavior. Prior experience often outweighs the fact that the competition may be cheaper or even better in some cases. Thus, the marketer should try to understand the attitudes and beliefs of individuals and design the marketing campaigns to retain the consumers. It has assumed growing importance under market-oriented or customer oriented marketing planning & management. That’s because they stem from the individual's personality and lifestyle. Peter Noel Murray, Ph.D., is principal of a consumer psychology practice in New York City. These are: Psychological Factors : The human psychology plays a crucial role in designing the consumer’s preferences and likes or dislikes for a particular product and services. D: Psychological factors that influence consumer behaviour are – 1. Psychological Factors Influencing Consumer Behavior Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. In the above example, Hunger was the motivating factor for Nancy to purchase pizza. Thus, these are some of the psychological factors that the marketer must take into the consideration before undertaking the strategic marketing decision. Presumably, the longer you wander around a facility, the more you will spend. Procedia - Social and Behavioral Sciences 62 ( 2012 ) 184 – 188 1877-0428 2012 Published by Elsevier Ltd. Businesses that successfully speak to these needs, and fill them, will motivate consumers to buy their products. The study of consumer behaviour indicates how individuals, groups and organizations select, buy, use and dispose goods, services, ideas, or experiences to satisfy their needs and […] The consumer perception is that products from these stores are cheap and on a subconscious level, the products are therefore lower quality. Required fields are marked *, Psychological Factors Influencing Consumer Behavior. A person acts because he wants to fulfill his needs. In other words, consumer behavior is the study of how consumers will make their buying decision and what those factors which support or influence these decisions. Once a brand has established itself as having a certain personality – for example, Walmart and other similar stores' low-cost positioning – it’s difficult to overcome that in the marketplace. By the same token, a diamond dealer may be quick to point out their stones come from Antwerp instead of Sierra Leone– where the stigma of "blood diamonds" prevails – in order to avoid negative consumer perceptions. Diffusion of Innovation 9. Answer 4. Buying Behaviour, This paper’s aim is to provide an in-depth elucidation of the many aspects that influence consumer behaviour. A consumer’s beliefs and attitudes greatly influence the buying decisions that consumer makes. Satyendra Singh’s review of color psychology in relation to marketing found that people make up their minds about a product within 90 seconds and 62%-90% of that decision is based on color alone. Factors Influencing Consumer Behaviour:. Dr. Murray's specialty is the psychological drivers of consumer behavior, with … in Speech from Catawba College and a J.D. Thank You for writing this article. It has different characteristics such as: dominance, aggressiveness, self-confidence etc which can be useful to determine the consumer behavior for particular product or service. The psychological factors that affect consumer behaviour are: 1. Consumers also have perceptions of themselves that may affect a particular purchase. While in the cognitive learning the individual applies all his knowledge, skill, attitudes, values and beliefs to find the solution of a problem and derive satisfaction out of it. Due to impact of various factors, consumers react or respond to marketing programme differently. It’s basically how we as human beings organize and make sense of information to form some sort of worldview. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Different motives of a consumer can be understood through Maslow Hierarchy of needs. Coca-Cola is one of the most valuable and well-known brand in the word. Attitudes and beliefs represent another psychological factor that influences consumer behavior. For the same product, price, promotion, and distribution, their responses differ significantly. Some of the important Psychological Factors are: Your email address will not be published. Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. Consumers often block out or ignore information that conflicts with their beliefs and attitudes. In this article, we are going to understand what are the psychological factors that influence consumer buying behavior? Cameron Francis is the co-founder of The eTraffic Group which started as a 2 man start-up from his lounge room, to a 50 person+, multi million dollar company.. For over 10 years Cameron has been providing growth hacking and digital marketing strategies for small businesses, start ups & … Annie Sisk is a freelance writer who lives in upstate New York. The international brand Coca-Cola, the biggest soft drinks and beverage company in the world, is very successful in producing effects on consumer behaviors. PSYCHOLOGICAL FACTORS INFLUENCING CONSUMER BEHAVIOUR Instructor Janne Peltoniemi Pages 46 Supervisor Birgitta Niemi learning, and attitude and behaviour change. Selection and/or peer review under responsibility of Prof. Dr. Hüseyin Arasli doi: 10.1016/j.sbspro.2012.09.029 WCBEM 2012 Psychological and social factors that influence online consumer behavior Iuliana a *, Maria-Cristiana Munthiu b , Violeta c a Academy of Economic Studies, … Consumer behavior is an attempt to understand & predict human actions in the buying role. This is the first factors influencing consumer behaviour and it includes various points such as: (i) Culture- Culture is the first factor and it means that these are the shared set of beliefs which an individual acquires from ancestors and it is reflected in their believes customs, and … Then we recall that experience and how we categorized it when a similar situation arises. Have you ever been in a department story and couldn’t find your way out?

psychological factors influencing consumer behaviour

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