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What Is Consumer Behaviour?
Consumer behaviour is a study of individuals and organisations to understand the actions and the decision-making process of people who approach the purchase of goods and services for their consumption. It helps to understand the customer’s patterns of buying. Talking about the actions, it is a study of actions that makes customers buy and use specific products. It is important for marketers to significantly study consumer behaviour to understand the demand and needs of consumers.
Understanding consumer behaviour helps to understand what exactly drives a consumer to buy a certain product. Understanding the likes and dislikes of the consumers can help marketers to act accordingly for the best possible results. Once getting the understanding of consumer behaviour, it is good for the marketers to market the product as per the requirement of the customer.
How to Know the Consumer Behaviour?
Now the question arises that how to understand consumer behaviour and what are the procedures that are involved to understand the consumer behaviour effectively. To understand consumer behaviour it is essential to understand the different situations of the consumers. This can include, what does the consumer buy? What are the reasons for buying? When and how often they buy? and many other factors that are involved in understanding consumer behaviour.
What Are the Characteristics That Affects Consumer Behaviour?
There are many factors that affect consumer behaviour in various ways. Let’s discuss each one of them in detail.
Consumer behaviour is highly dependent and influenced by the cultural factors which involve the culture, sub-culture of buyers, and social class. It is good for the market to not underestimate the cultural factors as they are highly responsive in providing the best response of understanding the needs and behaviour of the customers.
Let’s see what exactly is culture, subculture and social class.
- Culture: It defines the characteristics and knowledge about the specific group of people concerning their language, religion, eating, and social habits along with many other things.
- Subculture: Each culture is further divided into many subcultures which include the religion, racial differences, geographical regions and many other things. It is good for marketers to understand the group according to its culture and subculture to understand consumer behaviour.
- Social class: Social class can be differentiated on the basis of income and many other factors such as education, job, occupation, wealth and many more. This helps the marketers to select and implement the best marketing strategy as per the need of the consumer behaviour.
Social factors are highly responsive in varying the purchasing behaviour of the consumers. Social factors include the family, reference group, role and status.
- Reference groups: Reference groups provide details about the potential and attitude of the consumer. This further helps to understand the behaviour of the individuals.
- Family: The buying pattern is highly influenced by the member of the family such as wife, husband, children, brother, sister, parents, and many more.
- Roles and Status: Every person has a different role in society. Their role and status society is defined by the family, groups, and many other things.
Personal factors are one of the basic reasons that affect the behaviour of consumers. Occupation, economic situation, lifestyle, and personality are some of the personal factors that affect consumer behaviour.
- Age: Age has some serious impact on the buying pattern and behaviour of the consumers. With time and with the lifecycle, consumer changes their buying patterns accordingly. With each life cycle, the consumer tends to change their patterns of buying products and services. The phases of life are teenage, young and old age.
- Occupation: Occupation also has some dramatic effects on consumer behaviour. Obviously, if you are a manager or at some other post, your buying patterns might change from one who is on a lower or a higher post.
Psychological factors also give some of the worst and best effects on consumer behaviour. Psychological factors may include motivation, perception, beliefs, and attitudes of the individuals.
There are many factors involved that affect consumer behaviour in different ways. It is good for the businesses and organisation to invest in finding and understanding the factors that directly and indirectly affect consumer behaviour. This will help to perform well and to maximise the satisfaction of the consumers.