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Factors Affecting Consumer Behavior. He went to the nearby store and purchased a Dell Laptop. One of these factors is social factors. Cultural factors. A consumer’s behaviour is influenced by the following social factors: 1. An individual working as Chief Executive Officer with a reputed firm is also someone’s husband and father at home. It also includes an individual’s social class which comprises of education level, living conditions, and income. The reaction, as a consumer, of an 18-year-old teenager has nothing to do with that of a 68-year-old veteran. Social factors also influence the purchasing behavior of consumers. In general parlance, a reference group can designate to a person or a group that serves as a point... 2. Social factors also impact the buying behavior of consumers. Thank you for your valuable time and effort. The needs are also different. Reference groups also include opinion leader (a person who influences ot… In this study, the influence of social factors on consumer buying behavior is investigated. These varied behaviors influence the personal preferences of the other set of individuals as they tend to perform those activities which are acceptable to the society. A group of people are associated with a set of values and ideologies that belong to … 1. Thus, The social factors play a crucial role in building the behavior of an individual, and the marketers should understand it properly before designing their marketing campaigns. Typically, income is a key driver of this, though lifestyles, status and other factors come into play in some cultures. The important social factors are: reference groups, family, role and status. Every individual knows some people in the society who become their idols in due course of time. Social stratification is the presence in a society of clearly distinct consumer groups divided by socio-economic factors. (i) Family- The family has a great influence in … Every individual has someone around influencing their buying decisions. Also Read The Wheel of retailing concept Each culture contains “sub … In this video you will learn the factors influencing consumer behavior and consumer buying process. Values, traditions, and preferences are transmitted from parents to children inherently. Social stratification significantly affects consumer preferences and buying behaviors. Your email address will not be published. Influences the decision making of an individual with respect to the purchase of certain goods and services. Social influencers are diverse and include family, school or work communities, social interaction or any group with which an individual interacts. The marketers should try to identify the roles within the reference group that influences the behavior of others. The society is composed of several individuals that have different preferences and behaviors. Not all consumer exhibit the same buying behaviour. It is undoubtedly an essential factor. between influence of social media on consumer behaviour and channels of social media that directly affected consumer behaviour due to the fact that P-value = 0.126 which is higher than the recommended P-value of 0.05.In addition, findings offer coefficient oed f determination (R square) = 0.039. Management Study Guide is a complete tutorial for management students, where students can learn the basics as well as advanced concepts related to management and its related subjects. Culture forms the ideas, beliefs, values and behaviour of a person living in a particular region. Every individual goes through the following stages and shows a different buying need in each stage: A Ford Car in the neighbourhood would prompt three more families to buy the same model. Factors Affecting Consumer Behavior – Top 4 Factors: Cultural Factor, Social Factors, Personal Factors and Psychological Factors The buying behaviour of consumers is affected or is influenced by a number of factors. Social factors, which includes the groups to which the customer belongs, and his or … Social factors affect consumer behavior significantly. An individual entering into marriage would be more interested in buying a house, car, household items, furniture and so on. As we reach adulthood and enter into it, our life becomes more complex and with it our needs become more comple… People living with each other in an […] © Management Study Guide Personal Factors Influencing Consumer Behavior, Cultural Factors Influencing Consumer Behavior, Economic Factors Influencing Consumer Behavior, Psychological Factors Influencing Consumer Behavior. We all live in a society and it is really important for individuals to adhere to the laws and regulations of society. Furthermore, buying behavior of individuals is frequently unconsciously affected by some factors. We are a ISO 9001:2015 Certified Education Provider. We have four main factors that affect consumer behaviour they are; Consumer Behaviour – Cultural factors; Culture plays a very vital role in the determining consumer behaviour it is sub divided in. Factors Affecting Consumer Preferences. The impact of reference groups vary across products and brands. Since the man is a social animal who likes to be acceptable by all tries to imitate the behaviors that are socially acceptable. This survey will take 5 minutes from your time, feel free to express your opinion. After the cultural factors in the study of consumer behaviour, the Social factors also affect the consumer behaviour. Family is one of the most powerful social factors affecting consumer behaviour. Social Factors affecting Consumer Behaviour Consumer Behaviour is an effort to study and understand the buying tendencies of consumers for their end use. They know what the product is all about. Influences the personality, attitude, beliefs, characteristics of the individual. Social factors play an essential role in influencing the buying decisions of consumers. Human beings are social animals. Social Factors influencing consumer buying decision can be classified as under: Every individual has some people around who influence him/her in any way. Use Social Media to Your Brand’s Advantage. Social Factors affecting Consumer Behaviour Consumer Behaviour is an effort to study and understand the buying tendencies of consumers for their end use. The following are the important social factors that influence the behavior of an individual in one or the other way: It is believed that an individual passes through two families: Family of Orientation and Family of Procreation. Social factors affecting consumer buying behavior: A customer’s buying behavior is also influenced by social factors, such as the groups to which the customer belongs and social status. Consumer Behaviour is an effort to study and understand the buying tendencies of consumers for their end use. Co workers, family members, relatives, neighbours, friends, seniors at workplace often form reference groups. 1) Cultural factors – there is culture in every society. Social factors play an essential role in influencing the buying decisions of consumers. The society is composed of several individuals that have different preferences and behaviors. Corpus ID: 460759. There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system. A consumer who has a wife and child at home would buy for them rather than spending on himself. … They have complete knowledge about the features and specifications of the product. Reference groups comprise of people that individuals compare themselves with. A married individual would show strong inclination towards buying products which would benefit not only him but also his family members as compared to a bachelor. With regard to the latter, there is a curious phenomenon. Such as personal, cultural, psychological and social factors. These factors are very broad, and, in general, affect even normal behaviour. Required fields are marked *, Social Factors Influencing Consumer Behavior. 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