Key Factors of Consumer Behaviour
Table of contents 1. Introduction Page 2 2. Cultural factor Page 2 3. Social factor Page 2 4. Personal factor Page 3 5. Conclusion Page 3 6. Bibliography Page 4
1. Discuss and explain the key factors influencing consumer behaviour. Why must organisations understand consumer behaviour in order to optimise sales? "Marketing is the activity, set of institutions and processes for creating communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large" (AMA, 2007). "Consumer behaviour is the judgment of final consumers individuals and households who buy goods and services for personal consumption" (Kotler et al., 1999) There are four key factors influencing consumer behaviour. They are social, cultural, personal and psychological factors. Consumer may tends to change their buying behaviour according to these factors. Cultural factors are described as people who react particular way regard to religion reason. Different culture response differently, how people behave with their buying decision. for instance in Myanmar, majority of people do not have a habit of doing sport or using supplement for diet purposes. In United Kingdom, on the other hand, groups of men and women tend to emphasis on sport and taking supplement. As a supplement business prospective, they should not supply their product or sell in Myanmar. Social factors are mainly influenced by family, close friend and personal attitude. They are also known as 'reference group '. Reference group are important as the product are satisfied for their needs, the message with forward to another person which is also known as "word of mouth". The communication is powerful because we trust our friends ' and colleagues ' opinions. For example, majority of wealthy people do not buy a Primark product, simple because of their status, they should be buying much more expensive
1. Discuss and explain the key factors influencing consumer behaviour. Why must organisations understand consumer behaviour in order to optimise sales? "Marketing is the activity, set of institutions and processes for creating communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large" (AMA, 2007). "Consumer behaviour is the judgment of final consumers individuals and households who buy goods and services for personal consumption" (Kotler et al., 1999) There are four key factors influencing consumer behaviour. They are social, cultural, personal and psychological factors. Consumer may tends to change their buying behaviour according to these factors. Cultural factors are described as people who react particular way regard to religion reason. Different culture response differently, how people behave with their buying decision. for instance in Myanmar, majority of people do not have a habit of doing sport or using supplement for diet purposes. In United Kingdom, on the other hand, groups of men and women tend to emphasis on sport and taking supplement. As a supplement business prospective, they should not supply their product or sell in Myanmar. Social factors are mainly influenced by family, close friend and personal attitude. They are also known as 'reference group '. Reference group are important as the product are satisfied for their needs, the message with forward to another person which is also known as "word of mouth". The communication is powerful because we trust our friends ' and colleagues ' opinions. For example, majority of wealthy people do not buy a Primark product, simple because of their status, they should be buying much more expensive
Bibliography: * Blythe, J. (2009). Principles and Practicing of Marketing, 2nd edition, [online]. Cengage Learning. * Wright, R. (2006). Consumer Behaviour. [online]. Cengage Learning. * Baines, P., Fill, C. and Page, K. (2011). Marketing, 2nd edition, New York: Oxford University Press. * http://www.marketing91.com/personal-factors-affecting-consumer-buying-behavior/