Factors influencing consumer behaviour
Broadly classified as the decisions and actions that influence the purchasing behaviour of a consumer.
Most of the selection process involved in purchasing is based on emotions and reasoning.
Marketing Campaigns
It done on regular basis can influence the consumer purchasing decision to such an extent that they may opt for one brand over another or indulge in indulgent or frivolous shopping.
If undertaken at regular intervals even help to remind consumers to shop for not so exciting products such as health products or inisurance policies.
Economic conditions
A positive economic environment is known to make consumers more confident and willing to indulge in purchases irrespective of their personal financial liabilities.
Personal Preferences
At the personal level, consumer behaviour is influenced by various shades of likes, dislikes, priorities, morals and values.
In certain dynamic industries such as fashion, food and personal care, the personal view and opinion of the consumer pertaining to style and fun can become the dominant influencing factor.
Group Influence
The primary influential group consisting of family members, classmates, immediate relatives and
The secondary influential group consisting of neighbours and acquaintances are seen have greater influence on the purchasing decisions of a consumer.
Purchasing Power
The consumers generally analyze their purchasing capacity before making a decision to buy and products or services.
The product may be excellent, but if it fails to meet the buyers purchasing ability, it will have high impact on its sales.
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