Marketing Influences
CHAPTER 6
Influences on marketing
6.1 Introduction
BizWORD
C Customer choice (buying behaviour) refers to the decisions and actions of customers when they search for, evaluate, select and purchase goods and services.
Marketers closely examine the behaviour of customers (consumers) to understand what motivates an individual to purchase a particular product — customer choice (buying behaviour). They want to know why the customer selects one product and rejects another. As well, businesses try to influence customer choice by modifying their marketing strategies to appeal to the customer’s motives. While market research asks questions such as ‘Who are our customers?’, ‘What do they buy?’, ‘When do they buy?’ and ‘How often do they buy?’, customer behaviour asks ‘Why do they buy?’.
FIGURE 6.1 Consumer trends change with changing conditions. For example, concerns about global warming and a world oil price increase influence car buyers’ behaviour. In the past few years there has been a steady increase in the sale of more economical and environmentally responsible cars such as electric vehicles.
If businesses are aware of the factors that influence customer choice, they can predict customer trends and how they may react to particular marketing strategies.
BizFACT
Successful marketing begins with understanding why and how customers behave as they do.
6.2 Factors influencing customer choice
Have you ever stopped to consider what influences your buying decisions? Why do you purchase certain products and not others? Over the years, marketers have suggested numerous theories to explain what it is that persuades individuals to buy products. One of the most common ways is by examining the four main factors which influence customer choice (see figure 6.2).
148
TOPIC 2 • Marketing
Psychological influences
Sociocultural influences
Economic influences
Government influences
FIGURE 6.2 The four main factors influencing customer choice
Influences on marketing
6.1 Introduction
BizWORD
C Customer choice (buying behaviour) refers to the decisions and actions of customers when they search for, evaluate, select and purchase goods and services.
Marketers closely examine the behaviour of customers (consumers) to understand what motivates an individual to purchase a particular product — customer choice (buying behaviour). They want to know why the customer selects one product and rejects another. As well, businesses try to influence customer choice by modifying their marketing strategies to appeal to the customer’s motives. While market research asks questions such as ‘Who are our customers?’, ‘What do they buy?’, ‘When do they buy?’ and ‘How often do they buy?’, customer behaviour asks ‘Why do they buy?’.
FIGURE 6.1 Consumer trends change with changing conditions. For example, concerns about global warming and a world oil price increase influence car buyers’ behaviour. In the past few years there has been a steady increase in the sale of more economical and environmentally responsible cars such as electric vehicles.
If businesses are aware of the factors that influence customer choice, they can predict customer trends and how they may react to particular marketing strategies.
BizFACT
Successful marketing begins with understanding why and how customers behave as they do.
6.2 Factors influencing customer choice
Have you ever stopped to consider what influences your buying decisions? Why do you purchase certain products and not others? Over the years, marketers have suggested numerous theories to explain what it is that persuades individuals to buy products. One of the most common ways is by examining the four main factors which influence customer choice (see figure 6.2).
148
TOPIC 2 • Marketing
Psychological influences
Sociocultural influences
Economic influences
Government influences
FIGURE 6.2 The four main factors influencing customer choice