ANALYZING CONSUMER MARKET

Influence of consumer behavior

INTRODUCTION
It is the study of how individuals, groups and organization select, buy, use, and dispose goods services to satisfy their needs and wants. Marketers must understand it fully There are factors that influence consumer behavior they are cultural, social and personal.

CULTURAL FACTORS

It include 3 factors

cultural sub cultural social class

CULTURAL
It is the fundamental determinants of a person wants n behavior. It includes values, perception, performances and behavior through family n other key institute

SUB CULTURAL
Cultural consists of smaller subculture. Subculture specific identify and socialization for their members It includes nationalities, religion, racial groups and geographic regions.

SOCIAL CULTURE
They are different division of society whose members share same values interest and behavior. Indian term for this is

It is combo of education and occupation

CHARACTERISTICS OF SOCIAL CLASS

They tend to behave alike the other in same class. Person are perceived on occupying superior or inferior position according to class. Indication of various variable like income, wealth, education and values. The individuals can move up n down on the ladder of social class

SOCIAL FACTORS
Social factors

Reference group

family

social roles

status

REFERENCE GROUP
The group that have a direct-indirect influence on their attitude or behavior. Membership groups have direct influence that also include primary n secondary group. There are also groups like which a person has a willing to join or -whose value a person rejects.

FAMILY
It is the most influencing primary group. It can be bifurcated into two.

i.e. family of orientation -parents n siblings family of procreation spouse and children.

ROLES N STATUS
Groups are important sources of info. Helps to define norms of behavior. A role consist of activities a person is expected to perform. Each role carries a status.

PERSONAL FACTORS

This include

age and stage in life cycle, occupational and economic circumstances, personality and self development lifestyle n values.

AGE N STAGE IN LIFE CYCLE

Consumption is changed by family life cycle. Marketers should also consider or transition- marriage, childbirth, illness, relocation these should banks, lawyers, employment and bereavements to way they can help.

OCCUPATION AND ECONOMIC

Occupation also influence buying behavior For e.g. a higher level occupied person will buy air travel, dress suit etc and lower level occupied person will buy work shoes, lunchboxes etc. Economic circumstances are spendable income, saving and assets debts etc.

PERSONALITY AND SELF CONCEPT

Personality means human psychology leading to enduring responses to env stimuli. There are also brand personality. Stanford identified it in following way.

Sincerity Excitement Competence Sophistication Ruggedness

Self concept
Actual self how we view our self Ideal self how we would like to view our self Others self concept how we think others see us

LIFESTYLE N VALUES
Lifestyle is persons pattern of living that portrays a whole person in environment. They are shaped in two ways

Money constrained - lower cost products Time constrained - convenient product

Values underlie attitudes and behavior Target consumer on values appeals to inner self n influence their outer self.