Consumer behaviour determinants

What are the 4 factors of consumer behavior?
Article shared by : ADVERTISEMENTS: The determinants of consumer behaviour can be grouped into three major captions namely, economic, psychological and sociological..
What are the 5 determinants of consumer behavior?
Psychological (motivation, perception, learning, beliefs and attitudes) Personal (age and life-cycle stage, occupation, economic circumstances, lifestyle, personality and self concept) Social (reference groups, family, roles and status) Cultural (culture, subculture, social class system)..
What determines consumer behaviour?
Consumer s buyer behaviour is influenced by four major factors: .
1. Cultural,
2. Social,
3. Personal,
4. Psychological.
What determines consumer behaviour?
Psychological (motivation, perception, learning, beliefs and attitudes) Personal (age and life-cycle stage, occupation, economic circumstances, lifestyle, personality and self concept) Social (reference groups, family, roles and status) Cultural (culture, subculture, social class system)..
What is determined of consumer behaviour?
There are four types of consumer behavior: habitual buying behavior, variety-seeking behavior, dissonance-reducing buying behavior, and complex buying behavior.
Consumer behavior types are determined by what kind of product a consumer needs, the level of involvement, and the differences that exist between brands..
Economists have identified five key determinants of demand: price, income, prices of related goods and services, tastes and preferences, and expectations.
Each of these determinants plays a significant role in influencing how much of a good or service consumers are willing and able to purchase.

Consumer behaviour is affected by a host of variables, ranging from personal motivations, needs, attitudes and values, personality characteristics, socio-economic and cultural background, age, sex, professional status to social influences of various kinds exerted by family, friends, colleagues and society as a whole.

Three factors are identified as determinants to consumer behaviour namely economic determinants, psychological determinant and sociological determinant.

Black Box Model of Consumer Behavior

The Black Box model, sometimes called the Stimulus-Response model, says that customers are individual thinkers that process internal and external stimuli to make purchase decisions.
The graphic below illustrates the decision process.
Image Source It may look complex, but it’s a fairly straightforward path.
A consumer comes into contact with externa.

Engel-Kollat-Blackwell (EKB) Model of Consumer Behavior

The Engel-Kollat-Blackwell model of consumer behavior outlines a five-stage decision process that consumers go through before purchasing a product or service.
1) Awareness: During this stage, consumers view advertisements from a business and become aware of their need, desire, or interest, to purchase what they've just discovered.
2) Information Pr.

Hawkins Stern Impulse Buying Model

The Impulse Buying theory is an alternative to the Learning Model and EKB, as it claims that purchases aren’t always a result of rational thought.
When we think of impulse buying, we typically imagine picking up a candy bar or a pack of gum right before checking out.
These are certainly impulse purchases, but Hawkins Stern categorizes them into fou.

Howard Sheth Model of Buying Behavior

The Howard Sheth model of consumer behavior posits that the buyer’s journey is a highly rational and methodical decision-making process.
In this model, customers put on a “problem-solving” hat every step of the way — with different variables influencing the course of the journey.
According to this model, there are three successive levels of decisio.

Nicosia Model

The Nicosia Model places emphasis on the business first and the consumer second.
It argues that the company’s marketing messages determines whether customers will buy.
Simple, right.
While it’s an attractive model because it places all the power on businesses, it’s unwise to ignore the customer’s internal factors that lead to a purchase decision.
I.

What factors influence consumer behavior?

As we mentioned earlier in the chapter, consumer behavior is influenced by many things, including:

environmental and marketing factors

the situation

personal and psychological factors

family

and culture.
Businesses try to figure out trends so they can reach the people most likely to buy their products in the most cost-effective way possible.

What is the origin of Consumer Behaviour Research?

1.
Introduction Jacoby, Johar & Morrin (1998) state that the origin of research into consumer behaviour are to be found Psychology and that it gave rise to a new line of research known as Social Psychology.
At first, works were developed with such concepts as attitude, communication and persuasion.

Why is it important to understand consumer behaviour & buying pattern?

Understanding their behaviour and buying pattern is important in ultimate survival of companies in the market place.
Consumer behaviour consists of activities/process followed in making any buying decision of goods as well as a service.
In recent time service (holiday, travel, etc.), decisions are forming large part of consumer behaviour.