Influences on Consumer Behavior

Consumer Behaviour

• associated with the purchased, use, consumption, and disposal of goods and services

• effect the emotion, attitude, and preferences on their choices

Personal Factors

• personal characteristics

Motivation

• driving force to engage in a particular behaviour

Perception

• how consumers select, organize, and interpret infromation

Selective Attention

• tendency to focus on only a portion of the information

Selective Distortion

• tendency to interpret information in a way that aligns with their belief

Selective Retention

• tendency to remember information that supports their beliefs and attitudes

Learning

• changes that result from experiences

Beliefs and Atittudes

• formed through learning

• associate specific products with their beliefs

Economic Factors

• financial capacity, position, and ability to spend money

Personal Income

• determine how much one can spend

Income Expectation

• influences their current purchasing power

Liquid Assets

• easily converted to cash

• more liquid assets more likely to spend

Savings

• influences buying behaviour

• save more spending will likely be less

Family Income

• combining income of all family members

Social Factors

• how individuals interact with their society

Cultural Factors

• influence how individuals interact with their environment