Factors which affect a consumer 's buying behavior includes
Social factors are those factors which are induced by other people with whom the consumer is in contact with by one way or the other and have affect on the consumers buying behavior. These social factors can arise from culture, subculture, family and roles, reference groups and social class.
Psychological factors are an important part of the decision process. These are inherent to an individual and usually generate forces which affect his buying behavior. These forces include perception, motives, attitudes, learning and personality.
Personal factors are those factors which are unique to an individual. These have been acquired over a period of time by the consumer and influence a person’s buying behavior.
A buying process of a consumer is quite a complex matter wherein several internal and external factors come into play together to form a buying decision. While consumers may not think too much while buying low valued products as those products are bought on an impulse, but for higher valued products, customers would go through several stages which are discussed as below. Sometimes, the process can be quite lengthy and may many different social, psychological and personal factors. Impulsive buying on the other hand are spot on and the companies behind such low valued products that generally trigger an impulse buying may want to implement such strategies that drives the customer to make that impulsive buying decision.
Problem or Need Recognition
This is the very first stage toward a buying decision wherein the customer recognizes the problem or a need to be fulfilled. This could be of two types that is an actual state or a desired state. An actual state is such that the problem is arisen due to say a particular product has become faulty or expired or depleted and thus needs to be replaced. On the other