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CONSUMER BEHAVIOR AND FACTOR AFFECTING

Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants:

  • Initially the consumer tries to find what commodities he would like to consume.
  • Then he selects only those commodities that promise greater utility.
  • Then consumer makes an estimate of the available money which he can spend.
  • Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume.

Meanwhile, there are various other factors influencing the purchases of consumer such as:

  • Social
  • Cultural
  • Personal
  • Psychological
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Deviant social behavior is best explained by changes in the society's value system and not failures of primary agent of socialization?

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Related Questions

Which factors have the broadest and deepest influence on consumer behavior?

Cultural, psychological, and social factors are believed to have the broadest and deepest influence on consumer behavior. Cultural factors include values, beliefs, and norms that shape individuals' preferences. Psychological factors, such as perception and motivation, impact how consumers process information. Social factors like family, reference groups, and social class influence consumers' purchase decisions and behaviors.


Why psychological factors are influencing consumer behaviour?

Psychological factors influence consumer behavior because they impact an individual's perceptions, attitudes, beliefs, and emotions towards a product or service. Factors such as motives, personality, perception, and learning play a significant role in shaping consumer behavior. Understanding these psychological factors helps businesses tailor their marketing strategies to resonate with their target audience and influence their purchasing decisions.


What is broadest and deepest influence on consumer behavior?

The broadest and deepest influence on consumer behavior is often thought to be cultural factors. Culture shapes individuals' values, beliefs, and norms, which in turn influence their purchasing decisions and consumption patterns. Marketers often consider cultural factors such as language, religion, values, and aesthetics when developing marketing strategies to appeal to different consumer groups.


What are the challenges in study of consumer behavior?

Some challenges in the study of consumer behavior include the complexity of human decision-making processes, the influence of external factors such as culture and social norms, and the rapid changes in technology that impact how consumers interact with businesses and make purchasing decisions. Additionally, gathering accurate data on consumer behavior can be challenging due to privacy concerns and the increasing amount of information available.


How economic factors influences consumer's behavior?

how economic variables influences on consumer behavior


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