Consumer Behaviour Factors

Study Notes

Factors Influencing Consumer Behaviour

Internal Factors

Motivation: physiological, social, and psychological needs that drive consumer behaviour
Perception: how consumers process and interpret information
Learning: consumer experiences and knowledge that influence purchasing decisions
Attitudes: consumer opinions and feelings towards products or services
Personality: individual characteristics that influence consumer behaviour

External Factors

Culture: social norms, values, and beliefs that influence consumer behaviour
Social: family, friends, and social groups that impact consumer decisions
Economic: income, prices, and economic conditions that affect consumer behaviour
Marketing: advertising, promotions, and other marketing strategies that influence consumer behaviour

Types of Consumer Buying Behaviour

Complex Buying Behaviour: high-involvement purchases that require significant consideration and evaluation (e.g. buying a car)
Dissonance-Reducing Buying Behaviour: mid-involvement purchases that require some evaluation and justification (e.g. buying a new laptop)
Habitual Buying Behaviour: low-involvement purchases that are made out of habit or routine (e.g. buying groceries)
Variety-Seeking Buying Behaviour: purchases made to experience new products or services (e.g. trying a new restaurant)

Consumer Decision-Making Process

Problem Recognition: identifying a need or want
Information Search: gathering information about potential products or services
Evaluation of Alternatives: comparing and evaluating different options
Purchase Decision: making a final decision
Post-Purchase Behaviour: evaluating the product or service after purchase and forming attitudes towards the brand

Consumer Behaviour Models

Theory of Planned Behaviour: consumer behaviour is influenced by attitudes, subjective norms, and perceived behavioural control
Theory of Reasoned Action: consumer behaviour is influenced by attitudes and subjective norms
Social Cognitive Theory: consumer behaviour is influenced by observational learning, reinforcement, and self-efficacy

Factors Influencing Consumer Behaviour

Internal Factors

Motivation is driven by physiological, social, and psychological needs that push consumers to make purchasing decisions
Perception is the process of how consumers interpret and process information, which influences their buying behaviour
Learning is the accumulation of consumer experiences and knowledge that shape their purchasing decisions
Attitudes are consumer opinions and feelings towards products or services, affecting their buying behaviour
Personality traits, such as individual characteristics, influence consumer behaviour and purchasing decisions

External Factors

Culture encompasses social norms, values, and beliefs that shape consumer behaviour and influence purchasing decisions
Social factors, including family, friends, and social groups, impact consumer decisions and buying behaviour
Economic factors, such as income, prices, and economic conditions, affect consumer behaviour and purchasing power
Marketing strategies, including advertising and promotions, influence consumer behaviour and purchasing decisions

Types of Consumer Buying Behaviour

Complex Buying Behaviour involves high-involvement purchases that require significant consideration and evaluation, such as buying a car
Dissonance-Reducing Buying Behaviour involves mid-involvement purchases that require some evaluation and justification, such as buying a new laptop
Habitual Buying Behaviour involves low-involvement purchases that are made out of habit or routine, such as buying groceries
Variety-Seeking Buying Behaviour involves purchases made to experience new products or services, such as trying a new restaurant

Consumer Decision-Making Process

Problem Recognition is the initial stage of identifying a need or want
Information Search involves gathering information about potential products or services
Evaluation of Alternatives involves comparing and evaluating different options
Purchase Decision is the final stage of making a purchasing decision
Post-Purchase Behaviour involves evaluating the product or service after purchase and forming attitudes towards the brand

Consumer Behaviour Models

The Theory of Planned Behaviour suggests that consumer behaviour is influenced by attitudes, subjective norms, and perceived behavioural control
The Theory of Reasoned Action proposes that consumer behaviour is influenced by attitudes and subjective norms
The Social Cognitive Theory suggests that consumer behaviour is influenced by observational learning, reinforcement, and self-efficacy

Description

Understand the internal and external factors that influence consumer behaviour, including motivation, perception, learning, attitudes, and personality. Test your knowledge of the key factors that drive consumer purchasing decisions.