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How to Understand and Influence Consumer Behavior

Situational Factors

❶A typical strategy is to look to peers or significant others for validation of the purchase choice. They come in many styles, cuts, and fabrics and some are encrusted with jewels and cost thousands of dollars.

What is consumer behavior?

Collecting consumer behavior data
3.1 Factors That Influence Consumers’ Buying Behavior
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These will be affected by demographics such as age, gender, culture, profession, background and so on. This factor also includes social class, income, and education level. As the motivations that influence consumer behavior are so wide, a research mix including a variety of data will be the most robust.

Some are more cost effective than others. Focus groups — Bring a group of consumers together and ask them questions directly. It also helps to reveal the language they are using. Google Analytics — Analytics can be used to tell you where your traffic is coming from.

The Audience tab shows geography, interests, and a range of demographics. Read our post on the top competitor analysis tools.

Blog comments — Comments on your blog can be a good way of discovering any questions your audience might have. Social media — Millions of people reflect their lives on social media, so information that can enrich several strands of consumer behavior can be uncovered with the right tools.

The broadest thing social can help with is collecting consumer insights, found through social media research , which can take all sorts of forms.

You can ask specific questions, or investigate consumers talking about your brand. Sentiment analysis — Understand the sentiment about your brand or product, and how that changes in different demographics. Intelligent market segmentation — As everyone has different motivations, segmenting consumers into groups is vital to understanding your customers in a nuanced way. Marketers expect that by understanding what causes the consumers to buy particular goods and services, they will be able to determine—which products are needed in the marketplace, which are obsolete, and how best to present the goods to the consumers.

The study of consumer behaviour assumes that the consumers are actors in the marketplace. Starting from the information provider, from the user to the payer and to the disposer, consumers play these roles in the decision process.

Psychological factors such as buying motives, perception of the product and attitudes towards the product. Situational factors such as physical surroundings at the time of purchase, social surroundings and time factor. Consumer behaviour is not static.

It undergoes a change over a period of time depending on the nature of products. For example, kids prefer colourful and fancy footwear, but as they grow up as teenagers and young adults, they prefer trendy footwear, and as middle-aged and senior citizens they prefer more sober footwear. The change in buying behaviour may take place due to several other factors such as increase in income level, education level and marketing factors.

All consumers do not behave in the same manner. The differences in consumer behaviour are due to individual factors such as the nature of the consumers, lifestyle and culture. For example, some consumers are technoholics. They go on a shopping and spend beyond their means. They borrow money from friends, relatives, banks, and at times even adopt unethical means to spend on shopping of advance technologies.

But there are other consumers who, despite having surplus money, do not go even for the regular purchases and avoid use and purchase of advance technologies. The consumer behaviour varies across states, regions and countries. For example, the behaviour of the urban consumers is different from that of the rural consumers. A good number of rural consumers are conservative in their buying behaviours.

The consumer behaviour may also varies across the states, regions and countries. It may differ depending on the upbringing, lifestyles and level of development.

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Consumer buying behavior is the sum total of a consumer's attitudes, preferences, intentions, and decisions regarding the consumer's behavior in the marketplace when purchasing a product or service. The study of consumer behavior draws upon social science disciplines of anthropology, psychology, sociology, and economics.

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Consumer Buying Behavior refers to the buying behavior of the ultimate consumer. A firm needs to analyze buying behavior for: Buyers reactions to a firms marketing strategy has a great impact on the firms success.

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Definition of consumer buying behavior: The process by which individuals search for, select, purchase, use, and dispose of goods and services, in satisfaction of their needs and wants. See also consumer decision making. Explain what marketing professionals can do to influence consumers’ behavior. Explain how looking at lifestyle information helps firms understand what consumers want to purchase. Explain how Maslow’s hierarchy of needs works. Explain how culture, subcultures, social classes, families, and reference groups affect consumers’ buying .

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To understand consumer buyer behaviour is to understand how the person interacts with the marketing mix. As described by Cohen (), the marketing mix inputs (or the four P’s of price, place, promotion, and product) are adapted and focused upon the consumer. Consumer behavior is the study of individuals and organizations and how they select and use products and services. It is mainly concerned with psychology, motivations, and behavior. The study of consumer behavior includes.