Deciphering consumer’s behavior is the biggest challenge before the manufacturing companies. The success of any product and service largely depends on the consumer’s response and behavior. There is no set test to analyze consumer’s behavior. The behavior of consumers is affected by several factors and these factors directly or indirectly influence the buyer’s behavior. Many scientific methods are followed by the companies to analyze the consumer’s behavior.
Consumer behavior is exposed to various factors and these factors directly and indirectly influences a consumer’s decision in choosing a particular product. A factor such as motivation, learning, and perception greatly affects the consumer’s decision. There are several external factors such as culture, environment as well.
Companies are spending millions of dollars to examine and analyze the consumer’s behavior so that they can design and develop a suitable product for the consumer class.
Earlier it was believed that creative advertisements with the catchy lines have the power to affect consumer’s buying behavior but the latest experiment does suggest that environmental cues can influence what you like and buy. According to latest research creating a link between a product and something in the environment will surely motivate the consumer to give a second thought about the products and buy it. Though it cannot be generalized but research has shown that establishing relations between a product and something from your outer world will increase the probability of buying a particular product.
One cannot deny the role of social norms and social factors in affecting consumer’s buying behavior. The popularity of brand name attracts people and people often prefer branded products and trust brand name instead of local products. Buying and supporting a brand name gives social acceptance. People often go for big brands and the latest hot trends while purchasing apparel, clothing and other items. The cultural value of the society also effects consumer’s buying behavior. Companies are paying close attention to advertising and they are trying to inculcate the socially acceptable factors in their advertisement to make it more appealing and influencing.
Man is a social animal and we have a tendency to discuss and exchange views on several topics. For example, if the product is visible as clothing, shoes, car etc., the influence of reference groups will be high. Reference groups also include opinion leader (a person who influences others by his special skill, knowledge or other characteristics).
People mostly shop with friends and family and the role of family members is crucial in deciding the final purchase decision. If someone is shopping for apparels, clothes or other items the suggestion of husband, wife or kids will play an important role in finalizing the deal. Here we should note that the purchase of roles change with the changing lifestyles of consumers.
• Roles and Status
When we analyze environmental factor in influencing consumer’s buying behavior we cannot ignore the role and status of that person and hence purchasing decisions will be influenced by their role and status.
Customer’s lifestyle is another factor affecting important purchasing behavior of consumers. Lifestyle refers to the way a person lives in a society and express things in their environment. It is determined by the client’s interests, opinions, etc., and activities shape their whole pattern of acting and interacting in the world.
A human behavior is highly influenced by the culture and subculture he lives in. Factors like religion, nationalities, and geographical regions affects human behavior. Marketing strategists pay special attention to subculture factors while creating advertisements so that it could influence the customers’ behavior in a positive way. An advertisement contradicting the accepted norms and standard will not produce the desired result. A good analysis of the subculture will help the marketer to design a product according to the needs of a person residing in a specific geographical location.
The consumer’s buying behavior is open to several factors including environmental factor, social factor, personal factor, psychological factors. Marketing strategist and product developers are paying close attention to these factors so that they can come up with the right kind of product and improve the sales of the products.
Consumers of retail goods go with family or friends. I would like to bifurcate as – personal goods such as clothing, cameras, PCs likewise a consumer goes to buy along with friends. White goods like refrigerators, Air conditioners the consumer would like to take along family members.