Different motives of a consumer can be understood through Maslow Hierarchy of needs. Selection and/or peer review under responsibility of Prof. Dr. HÃ¼seyin Arasli doi: 10.1016/j.sbspro.2012.09.029 WCBEM 2012 Psychological and social factors that influence online consumer behavior Iuliana a *, Maria-Cristiana Munthiu b , Violeta c a Academy of Economic Studies, … They’re inherently personal and connected to the consumer’s sense of self. Some motives are socially learned (e.g. Among the personal factors influencing behavior the most important is a person’s age. A person acts because he wants to fulfill his needs. They can be classified into cultural, social, personal, and psychological factors. Some of the important Psychological Factors are: The marketers lay emphasis on managing the perceptual processes, Viz. Nancy went to a nearby restaurant and ordered pizza for herself. Your email address will not be published. Consumer behavior refers to the selection, purchase and consumption of … Dr. Murray's specialty is the psychological drivers of consumer behavior, with … Lifestyle and Values 8. It is for this reason that for certain jobs as those of sales representatives youngsters are always preferred. Let’s look at them in detail. Motivation Motivation is defined as the drive to satisfy a need. A number of researchers have identified and analyzed factors affecting the consumers’ buying behaviour which affect consumer behavior individually or collectively. nice post. Why a person acts at all? Buying Behaviour, This paper’s aim is to provide an in-depth elucidation of the many aspects that influence consumer behaviour. Harvard Business Review: What Really Makes Customers Buy a Product, Inc: The Hidden Reasons Why Customers Buy Your Products, University of Minnesota Principles of Marketing: 3.1 Factors That Influence Consumers’ Buying Behavior. It can also be described as goals and needs of the consumers. A consumer’s beliefs and attitudes greatly influence the buying decisions that consumer makes. Have you ever been in a department story and couldn’t find your way out? We catalog each experience we have as either good or bad. All the acts of a person are … A belief is a conviction a person holds about something, such as “dark chocolate is bitter,” or “dark chocolate is delicious,” or “dark chocolate is good for baking.” An attitude is a consistent view of something that encompasses the belief as well as an emotional feeling and a related behavior. wanting to get married) and others are instinctive (e.g. If the consumer’s motivation is high, that basically means that the level of need, or the consumer’s perception of that need, is fairly strong. 4. Culture: Cultural factors have a deep influence on buyer behaviour. How old a consumer is generally indicates what products he or she may be interested in purchasing. In the conditional learning, the consumer derives learning from being conditioned to particular stimuli, i.e. Psychological factors include motivation, perception, learning, beliefs and attitudes. Businesses that successfully speak to these needs, and fill them, will motivate consumers to buy their products. Human psychology is a major determinant of consumer behavior. Grocery stores frequently place bread and milk products on the opposite ends of the stores because people often need both types of products. These factors are affected by four major factors like motivation, perception, and learning. Although the company is a manufacture of beverage, it business has… Marketing professionals take physical factors such as a store’s design and layout into account when they are designing their facilities. Recognition and self esteem also influence the buying decision of indi… Satyendra Singh’s review of color psychology in relation to marketing found that people make up their minds about a product within 90 seconds and 62%-90% of that decision is based on color alone. Beliefs are the way people think about a particular product or brand, while an attitude is the individual's consistently favorable or unfavorable evaluation, tendency or feeling about a product or brand. A marketer should try to understand the factors that influence consumer behavior. Learning 4. In the previous article, we have already discussed the five major factors such as environmental factors, societal factors, cultural factors, aspirational groups and personal factors that are influencing consumer behavior. Annie Sisk is a freelance writer who lives in upstate New York. There are four important psychological factors affecting the consumer buying behavior. ADVERTISEMENTS: There are many factors affecting consumer behaviour. from USC. The study of consumer behaviour indicates how individuals, groups and organizations select, buy, use and dispose goods, services, ideas, or experiences to satisfy their needs and […] If you want your business to be successful, you must first understand what drives your targeted customers in their purchasing decisions. In this article, we are going to understand what are the psychological factors that influence consumer buying behavior? She has written extensively for publications and websites in the business, management and legal fields. Presumably, the longer you wander around a facility, the more you will spend. Prior experience often outweighs the fact that the competition may be cheaper or even better in some cases. Psychological factors are really important. It has assumed growing importance under market-oriented or customer oriented marketing planning & management.