Technology is the leading driver of change globally. It is driving swift changes in various areas of our lives from how we work, shop, have fun or spend our time at home. Nearly everything in our world is driven by technology. Whether it is healthcare, mobility, work or entertainment, in every area, technology has brought … Read more
Consumer behavior is affected by several factors including economic, cultural, psychological, and personal factors. According to Wikipedia, consumer behavior involves all activities associated with the purchase, use, and disposal of goods and services, including the consumer’s emotional, mental, and behavioral responses that precede or follow these activities. The term consumer can refer to individual consumers … Read more
Several factors influence the buying choices of consumers. Some of them are economic, others sociocultural, or might be technological or even psychological in nature. Human personality and psychology are also awesome important factors that influence consumer buying behavior. In Kotler’s words, “The consumer’s choice results from the complex interplay of cultural, social, personal, and psychological … Read more
Psychographic Factors’ Effect on Consumer Behavior You must have heard of psychographic segmentation already. It is a kind of segmentation used by marketers to group their target customers into distinct categories based on their lifestyle, personality characteristics and other similar or related factors. All these factors are of immense importance in marketing because our … Read more
Effect of Demographic Factors on Consumer Behavior Several factors affect consumer behavior. It differs from person to person based on his age, income, sex, education and marital status. You can easily notice the difference between the buying decisions and consumer behavior of two different people from different economic groups. A person with high income level makes … Read more
Stages in Consumers’ purchasing process: Need recognition to disposal There are several stages in the consumers’ purchasing process. You must have bought several products. May be you are planning to buy some and have started researching their price and features. You would also like to consult your friends and family about a specific product and … Read more
Low versus high involvement products and buying decisions (Extended and Limited problem solving in consumer behavior) There are so many factors that influence consumer behavior. While sometimes it may be easier to decide which product to buy, at other times, the process may be time consuming and may require some or a lot of preliminary research … Read more
What role does family play in consumer decision making? How much are our buying decisions affected by our role in the family? Family plays an important role in most of our buying decisions. Our selections are based upon several important considerations, many of them influenced by our families and our roles in them. Whether it is … Read more
How culture affects consumer behavior? Need for cultural awareness A plethora of research has accumulated that shows a strong relationship between culture and consumer behavior. Culture is an important force that has a deep impact on several things in people’s lives from their taste to their wisdom and basic choices. It affects the style a person … Read more