Increasingly, businesses are getting more used to having the reasons why customers buy their products. The main reason why businesses survive is their shareholders, which the customer is the number one success factor. This study will research into how companies ensure customer satisfaction through effective study of customer’s behaviour. It will tend to look at some of the various factors which affect the decision of a customer to patronize in a certain product or services. These factors have been categorized by researchers into internal and external factors. For the purpose of this research the researcher will take a look at the influence of personality on a customer’s decision to purchase a product. This study will also take a look at personality, an internal factor that influence consumer behaviour and look deep into how this concept was developed as well as relate it to real life. The research tends to give a summary and total understanding of what customers think about or feel before and after purchasing a product. Understanding this however could help a company to achieve high competitiveness in the industry they operate. It will take a closer look at some of the things an organization should put into action in order to satisfy customers with different personalities. It also tends to associate this determinant to a product that could be purchased based on it.
The fundamental objectives of businesses are to satisfy the needs and requirements of its stakeholders profitably. Not only do companies achieve profitability and survival through efficient satisfaction of its stakeholders, but also grow it to become more competitive in the markets as well as the industries they operate. The stakeholders of a company includes all those who have personal interest in the company of which customers are considered to be the most relevant stakeholders, this is because without them there is no possibility of survival of any organization. In view of the integral role customers play in the success and growth of a company, there has been a lot of research on customer’s behaviour, thus the study into the processes they use to select, use (consume), and dispose of products and services and how these process impact on a company and the world at large (Marketing Teacher, 2012; Ibrahim & Najjar, 2008).
The knowledge of customer’s perception about services rendered by a company and a study into customers could help organizations in making good policies in line with what customers want. This will in turn affect customer’s attitude towards a certain organization and will go a long way to establish a good customer service which will bring about customer satisfaction (Francis et al., 2004). Individual behavior makes sense only if one judge it based on their goals, needs and motives. Morwitz and Schmittlein (1992) asserted that there are several witnesses which show that an individual intension is closely linked to his/her purchasing behaviour. Thus if their intentions about a product is high, there is a high tendency of them patronizing in such product. Marketing policies are however determined based on consumer behaviour (Morwitz & Schmittlein, 1992)
Factors that influence consumer behaviour.
Researchers have categorized the factors which contribute to customer’s decision of buying a product into three determinants which are; economic determinants, psychological determinant and sociological determinant. These could either be endogenous factor (internal; self concept, personality, attitude etc.) or exogenous factors (external: culture, social status, family etc.). (Engel et al., 1973)
Figure 5.1 Endogenous and exogenous factors impinging upon buyer behaviour
Though these variables are uncontrollable to the marketer, understanding it can be attached to great effects. Exogenous influences on buyer behaviour
These are influenced by the environment individuals find themselves in; they...