8 Questions
Match the following factors with their influence on buyer behavior:
Psychological Factors = motivation, perception, learning, attitude & beliefs Social Factors = Family, Peer Groups, Societal Role & class Cultural Factors = common values, needs, wants, preferences, perceptions, and behaviors Personal Factors = Age, Income, Occupation & Lifestyle of the consumer
Match the following economic factors with their influence on buyer behavior:
Personal Income = Influence on purchasing power and decision-making Family Income = Impact on buying patterns and choices Consumer Credit = Affects ability to make large purchases or investments Liquid Assets & Savings = Influence on financial security and risk-taking behavior
Match the following terms with their meaning in the context of buyer behavior:
Buyer Behaviour = Decision and acts pursued by any buyer while purchasing any product or service Consumer Buying Behavior = Another term used in the market of digital monetization for buyer behavior Motivation = Psychological factor influencing the drive to make a purchase Perception = Psychological factor affecting how a buyer interprets and understands information
Match the following social factors with their influence on buyer behavior:
Family = Influence on purchase decisions, especially for household products Peer Groups = Impact on lifestyle choices and brand preferences Societal Role & class = Affects buying behavior based on social status and identity
What are the four major psychological factors that influence buyer behaviour?
motivation, perception, learning, attitude & beliefs
Name three social factors that influence buyer behaviour.
Family, Peer Groups, Societal Role & class
List the five cultural factors that influence buyer behaviour.
common values, needs, wants, preferences, perceptions, and behaviors
What are the economic factors that influence buyer behaviour?
Personal Income, Family Income, Consumer Credit, Liquid Assets & Savings
Study Notes
Economic Factors Influencing Buyer Behavior
- Economic factors, such as income, prices, and credit availability, influence buyer behavior
- Income affects buyer behavior as it determines purchasing power
- Prices influence buyer behavior as they affect perceived value and affordability
- Credit availability affects buyer behavior by making it easier or harder to purchase
Psychological Factors Influencing Buyer Behavior
- Four major psychological factors influencing buyer behavior are: motivation, perception, learning, and attitude
- Motivation influences buyer behavior as it drives purchasing decisions
- Perception influences buyer behavior as it affects how consumers process information
- Learning influences buyer behavior as it shapes consumer preferences
- Attitude influences buyer behavior as it affects consumer purchasing decisions
Social Factors Influencing Buyer Behavior
- Three social factors that influence buyer behavior are: family, social status, and culture
- Family influences buyer behavior as family members affect purchasing decisions
- Social status influences buyer behavior as it affects consumer aspirations and purchasing decisions
- Culture influences buyer behavior as it shapes consumer values and preferences
Cultural Factors Influencing Buyer Behavior
- Five cultural factors that influence buyer behavior are: values, customs, beliefs, norms, and lifestyles
- Values influence buyer behavior as they shape consumer preferences and purchasing decisions
- Customs influence buyer behavior as they affect consumer purchasing habits
- Beliefs influence buyer behavior as they shape consumer attitudes and perceptions
- Norms influence buyer behavior as they affect consumer social behavior
- Lifestyles influence buyer behavior as they shape consumer preferences and purchasing patterns
Test your knowledge on buyer behavior, consumer buying behavior, and the factors that influence them including psychological, social, cultural, and personal factors.
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