There is nobody in the world who is left out of the class of consumers. The consumer-hood continues till one’s last breath in the world. The consumer purchases a variety of goods and services to satisfy his wants and he is always influenced in his purchasing activities by some considerations which lead him to select a particular commodity or a particular retail store in preference to others. So, consumer buying is more complex. Consumer purchases are likely to be influenced by physiological, psychological and sociological factors. The commodities and services are brought by the consumer to satisfy his basic needs, for comfort, pleasure, recreation and happiness. Every individual has physiological need such as hunger, shelter, thirst, etc., which have to be satisfied for survival. The psychological factors like status prestige and social factors like friends, neighbors, job and relatives influence their purchasing activities.
Factors influencing consumer behaviour
Consumer behaviour is influenced by internal factors such as, demographics, psychographics (lifestyle), personality, motivation, knowledge, attitudes, beliefs and feelings. External factors also have influential role in consumer behaviour. These external factors are, culture, sub-culture, locality, royalty, ethnicity, family, social class, past experience, reference groups, lifestyle and market mix factors.
Importance of life styles
Life values are believed to provide the motivation for buying. They are usually characterized by a set of values, which differ in relative importance from person to person. They tend to be abstract and their impact on consumer behavior will be quite indirect. The way in which consumers uses products and services in a certain area to attain their life values can also be called consumer lifestyle. What is important from a marketing point of view is that different types of consumers have to be addressed in different ways. Lifestyle is thus a useful tool