FACTORS INFLUENCING BUYER'S BEHAVIOUR
It is important to understand consumer's different needs and choices. If a marketer can understand the consumer behaviour he can moderate the marketing policy, improve the product and service to satisfy the consumers efficiently. All the marketers try to persuade the customers and strengthen their position in the market. So, they try to influence buying behaviour of the consumers. Consumer behaviour helps to identify how a customer takes purchase decision. So it can help to influence the purchase decision of the buyers. Consumers can provide guidelines to the marketers' according to which they can modify their product.
Factors Influencing Buyer Behaviour
There are four factors that influence the buyer behaviour. They are psychological, social, personal and cultural factors.
1) Psychological Factors:
Psychological factors influence the consumer's decision making process while purchasing the product or service and so the marketers need to understand these factors. Such factors are motivation, learning, beliefs and perception.
2) Social Factors
Social factors also affect the buying decision of the purchaser. It includes reference groups, family, social roles and status.
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3) Personal Factors
Personal characteristics of an individual influence the buyer's decision making. It includes age, life cycle stage, economic conditions, occupation, lifestyle and personality.
4) Cultural Factors
Cultural factors have a great influence on buyer's behaviour. Cultural factors are culture, sub-culture and social class.
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Consumer Buying Behaviour Process
Henry Assael, a consumer behaviour specialist, has given four types of buying behaviour situations. They are
1) Complex Buying Behaviour
In the complex buying behaviour, buyer wants to buy expensive products which are generally bought irregularly. So buyers are highly involved and undergo research to find out the best alternatives.
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2) Dissonance Buying Behaviour
Buyer do not take a lot of time in making a decision but he regrets later when he experiences dissonance from the product or gets to know something favourable about the other brands that he rejected. Buyers are highly involved in making a purchase decision. Product can be expensive and infrequent purchase.
3) Variety Seeking Buying Behaviour
Buyers are less involved in making the purchase decision. Buyer has variety of purchase option open for him. Buyers are able to distinguish between the product features of different brands. He can identify significant different brands in the product category.
4) Habitual Buying Behaviour
Buyers purchase same brands because its there habit. Buyers are less involved in the purchase decisions and there are insignificant differences between brands. It involves purchase decisions of low cost products that are purchased on regular basis.
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