While in the cognitive learning the individual applies all his knowledge, skill, attitudes, values and beliefs to find the solution of a problem and derive satisfaction out of it. 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. To maximize your sales revenue and grow your business, it’s important to leverage the four key psychological factors that influence consumer purchasing: motivations, perceptions, experience and beliefs. 4. nice post. Consumer motivation is related to the “Hierarchy of Needs" proposed by psychologist Abraham Maslow. She has written extensively for publications and websites in the business, management and legal fields. Social Factors Influencing Consumer Behavior, Cultural Factors Influencing Consumer Behavior, Personal Factors Influencing Consumer Behavior, Economic Factors Influencing Consumer Behavior. The consumer doesn’t need to look anywhere else to solve that specific problem or meet that need. Required fields are marked *, Psychological Factors Influencing Consumer Behavior. Why did Nancy buy pizza ? (a): Motivation is an internal urge to do something. There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system. What makes them choose one company over another? Psychological Factors. I. Consumer behavior is defined as “all psychological, social & physical behavior of potential customers as they become aware of, evaluate, purchase, consume, & tell others about … Given a high degree of motivation, the individual will actively seek to satisfy that need by making that purchase. By the same token, a diamond dealer may be quick to point out their stones come from Antwerp instead of Sierra Leone– where the stigma of "blood diamonds" prevails – in order to avoid negative consumer perceptions. Consumer behaviour is a study of how people buy, what they buy, when they buy and why they buy. Different motives of a consumer can be understood through Maslow Hierarchy of needs. Customer behavior is influenced in psychological and sociological. wanting to get married) and others are instinctive (e.g. This theory states that human beings actively seek to satisfy physical needs first, followed by safety, social, esteem and self-actualization needs, in that order. The international brand Coca-Cola, the biggest soft drinks and beverage company in the world, is very successful in producing effects on consumer behaviors. 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. D: Psychological factors that influence consumer behaviour are – 1. This happens either because the employee feels saturated or because he lacks physical fitness. These beliefs and attitudes shape the consumer's perception of the product. Why a person acts at all? Consumer behavior refers to the selection, purchase and consumption of … Recognition and self esteem also influence the buying decision of indi… There are several other factors which motivate individuals to purchase products and services. Different people have different perceptions about the same product depending on their individual beliefs and attitudes which give rise to selective distortion. A person acts because he wants to fulfill his needs. ADVERTISEMENTS: There are many factors affecting consumer behaviour. Color has a huge impact on our behaviour and should never be underestimated in the context of marketing. All consumers react differently towards a product depending upon their position in the hierarchy. How old a consumer is generally indicates what products he or she may be interested in purchasing. Consumer Behaviour – Psychological factors; 4 psychological factors affect consumer behaviour very strongly. Attitudes and beliefs represent another psychological factor that influences consumer behavior. A. For the same product, price, promotion, and distribution, their responses differ significantly. A consumer’s motivation is the basic degree of the psychological drive behind a specific purchase. Motivation speaks to the internal needs of the consumer. Among the personal factors influencing behavior the most important is a person’s age. 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. Some of the important Psychological Factors are: Psychological factors are really important. In the above example, Hunger was the motivating factor for Nancy to purchase pizza. Thus, these are some of the psychological factors that the marketer must take into the consideration before undertaking the strategic marketing decision. Copyright 2020 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. A consumer’s beliefs and attitudes greatly influence the buying decisions that consumer makes. Describe the personal and psychological factors that may influence what consumers buy and when they buy it. Factors Influencing Consumer Behaviour: Cultural, Demographic, Social, Personal and Psychological Factors Factors Influencing Consumer Behaviour: Cultural Factors Affecting Consumer Behaviour. In selective attention, the marketer tries to gain the attention of the customer towards his offerings. A marketer should try to understand the factors that influence consumer behavior. Annie Sisk is a freelance writer who lives in upstate New York. It’s human nature for consumers to make all kinds of associations, both conscious and subconscious, from their experiences. It’s basically how we as human beings organize and make sense of information to form some sort of worldview. Human psychology is a major determinant of consumer behavior. This is the first factors influencing consumer behaviour and it includes various points such as: (i) Culture- Culture is the first factor and it means that these are the shared set of beliefs which an individual acquires from ancestors and it is reflected in their believes customs, and … Nancy went to a nearby restaurant and ordered pizza for herself. when he is exposed to the similar situation, again and again, he develops a particular response towards it. Learning 4. Culture is the basic determinant of a … Explain how Maslow’s hierarchy of needs works. An individual who is thirsty would definitely not mind spending on soft drinks, packaged water, juice and so on. Due to impact of various factors, consumers react or respond to marketing programme differently. To buy both, they have to walk ar… They tend to selectively retain information or even distort the information to make it consistent with their previous perception of the product. 4. These factors are difficult to measure but are powerful enough to influence a buying decision. Psychological factors generally include: Motivation Learning Perception Attitudes and beliefs. Color Psychology. Companies that focus on the consumer experience earn repeat business from those customers. Peter Noel Murray, Ph.D., is principal of a consumer psychology practice in New York City. Explain how looking at lifestyle information helps firms understand what consumers want to purchase. 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? Consumers also have perceptions of themselves that may affect a particular purchase. Your email address will not be published. Perception, learning, lifestyle, and social roles C. Motivation, perception, learning, and personality D. Motivation, learning, personality, and self-concept These factors are affected by four major factors like motivation, perception, and learning. Lifestyle and Values 8. There are several factors which affect consumer behaviour related to purchase and consumption of products and service directly or indirectly these can be classified as culture, social group, personal attributes and psychological factors. Peer Pressure 7. Psychological Factors Influencing Consumer Behavior Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. Prior experience often outweighs the fact that the competition may be cheaper or even better in some cases. Motivation Motivation is defined as the drive to satisfy a need. 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. They’re inherently personal and connected to the consumer’s sense of self. Perception. Beliefs and Attitudes 3. Economic Factors 2. PSYCHOLOGICAL FACTORS INFLUENCING CONSUMER BEHAVIOUR Instructor Janne Peltoniemi Pages 46 Supervisor Birgitta Niemi learning, and attitude and behaviour change. In other words, consumer behavior is the study of how consumers will make their buying decision and what those factors which support or influence these decisions. Although the company is a manufacture of beverage, it business has… That’s because they stem from the individual's personality and lifestyle. Marketing Mix Factors B. Presumably, the longer you wander around a facility, the more you will spend. Psychological factors include motivation, perception, learning, beliefs and attitudes. Perception is essentially the way a person selectively views, processes and interprets the larger world or any part of it. Perception is a psychological variable involved in the purchase decision process that is known to influence consumer behavior.

psychological factors influencing consumer behaviour

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