Factors Affecting Consumer Behavior

Study Notes

Culture: Shared values, norms, and practices that shape behaviors within a group.
Subculture: Distinct cultural groups within a larger culture that influence specific consumer preferences and behaviors.
Social Class: Hierarchical structure in society that affects access to resources, lifestyle, and consumption patterns.
Reference Groups: Groups that individuals refer to for guidance on behavior and attitudes, influencing purchase decisions.
Family: The primary social unit that significantly impacts consumer behavior through shared experiences and preferences.

Needs and Motivations: Psychological and emotional drivers that push consumers toward fulfilling specific desires or requirements.
Perception: The process through which consumers interpret and make sense of sensory information, impacting how they view products.
Personality: Individual differences in characteristics and traits that influence buying behavior and brand loyalty.
Lifestyle: The overall pattern of living, including interests, activities, and opinions, shaping consumer choices.
Values: Deeply held beliefs that guide behavior and decision-making, affecting preferences for products and brands.
Learning: The change in behavior resulting from experiences, which influences future purchasing decisions.
Memory: The retention and recall of information related to products and brands, critical for recognition and preference.
Beliefs and Attitudes: Established ideas and feelings about products that impact consumer evaluations and choices.