Cultural, social, personal, and psychological factors all influence consumer behavior. Marketers must understand how a consumer's culture, family, age, income, beliefs, and more shape their purchasing decisions. Additionally, consumerism movements aim to improve consumer rights regarding product safety, transparency, choice and redress. Empowered consumers now have significant influence over marketers through information sharing, reviews, and advocacy for their interests.
Cultural, social, personal, and psychological factors all influence consumer behavior. Marketers must understand how a consumer's culture, family, age, income, beliefs, and more shape their purchasing decisions. Additionally, consumerism movements aim to improve consumer rights regarding product safety, transparency, choice and redress. Empowered consumers now have significant influence over marketers through information sharing, reviews, and advocacy for their interests.
Cultural, social, personal, and psychological factors all influence consumer behavior. Marketers must understand how a consumer's culture, family, age, income, beliefs, and more shape their purchasing decisions. Additionally, consumerism movements aim to improve consumer rights regarding product safety, transparency, choice and redress. Empowered consumers now have significant influence over marketers through information sharing, reviews, and advocacy for their interests.
1) Cultural factors: cultural factor exert a broad and
deep influence on consumer behavior. a) Culture: cultural norms, values, ethics and beliefs and elements of culture influence behavior. b) Sub culture: difference from one sub-culture to another; culture within the culture. c) Cross-culture: combination of different cultures; difficult for the marketers. d) Social class: consumption behavior is influenced by upper, middle and lower class. 2) Social Factors: Social factors consumer's behavior also influenced by different social factors, such as: a) Groups: formal, informal or the reference groups highly influence consumer buying behavior. b) Family: role of women, men, children or joint decision influence consumer buying behavior c) Social roles and status: status lead a pattern of behavior, office executives and buying behavior. d) Opinion leader: role of leaders and personal influence have a greater impact on behavior. e) Social movement: change the social ideology or movement of social group influence behavior. 3) Personal Factors a) Income: personal income of the consumer, Positive relation between income and buying. b) Age and life cycle: different stages of life such as single to single old influence buying. c) Occupation: different occupation such as army, doctors, bankers, teachers, students influence d) Economic situation: resources status of a customer, high resource influence large buying. e) Lifestyle: aggressive or miser or dynamic life style influence buying behavior. f) Personality: different characteristics of customer influence buying behavior. 4) Psychological Factors: four major factors are; a) Motivation: different motivational factors influence customer behavior b) Perception: perception differ from people to people and it influence behavior. c) Learning: experience, education, practices, habit influence buyer behavior. d) Beliefs: core belief, ideology, thinking of the people influence buying behavior. e) Attitudes: positive or negative attitude of the customer has impact on consumer behavior. Consumerism Consumerism is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers. Causes of Consumerism: Adulteration: Adulteration involves cheap ingredients mixed with the product intended for sale. Duplication: Consumers are not able to differentiate the original products from duplicates. Sub-standard products: Substandard products are made using inferior raw materials or by cutting short the required production processes. Product risks: Some products are valid or potent only for a particular period. Example: medicines, drugs, fruits, etc. Impersonal selling: problem of using e-service, online marketing, digital business are creating problem in business. Causes of Consumerism: Warranty and service: If a product becomes defective after being sold, buyers are not given any remedy for the defect noticed in the goods. Fitness of products: Product fitness refers to product quality, durability and suitability in relation to the purchase objective of the consumers. Consumer exploitation: consumers are exploited in the following ways: Sub standards, weight, high price, false ads, black marketing, poor products, Problems of assembling products: (TV) technical components are not visible to the eye and therefore cannot be inspected by the consumers. Support customer: customers complaints are ignored and can not take any legal action and they have no other support to establish their rights. Consumer’s Rights • The right to safety: to ensure safety of goods. Cake and rejected banana, & egg and low graded oil. • The right to be informed: information available about a product before they purchase. People don’t know. • The right to choose: purchase from a variety of products at competitive price. • The Right to claim: if the business activities affect the consumer, they can clam. • The right to get compensation: looser from business activities, right to compensation • The right to education: how to buy a product, use the product. Promotional tool will help. • The right to healthy environment: ensure healthy environment for customers. Consumerism in Bangladesh i) Product information: customers are depriving from product information. ii) Tendency to copy: products are being imitated iii) Low quality of product: average quality is low. iv) Adulteration: products are being sold by adulteration (milk, oil, fruits, and sweets) v) Deceptive advertising: false information in ad. vi) Harmful product: business with harmful products. vii) Deceptive weight: there are different types of measuring system in Bangladesh. viii) Price variation: the business people control price of the products. ix) Activities of CAB: CAB is not playing proper role; it is now inactive. Consumer Influence Marketers a) Consumer status: the business slogan is consumer is the king, queen or the boss. b) Consumer information: they have a lots of information in their hand and they evaluate from their point of view. c) Customer awareness: they are very much aware and avoid false slogan and unrealistic approaches. d) Power of customer: customers are very powerful and influence on product, price, place and promotion. e) Consumer terrorism: negative impact of the customer and viral communication flow of customer. Consumer Influence Marketers f) Consumer movement: consumers are now very united and they establish their right. g) Consumer communication: consumers have strong communication with radio, television or newspaper. h) Producers have lost control: of bad image, over promising or create false demand.