The main social factors affecting consumer behavior are family, roles and status. Social factors have a direct impact on the consumption and purchasing behavior of people.
Consumer behavior is an action that affects not only individuals and societies, but also countries and national economies.
What are the types of consumer buying behaviour?
- Habitual
- Complex
- Dissonance-reducing
- Variety seeking
- Limited decision-making
- Impulsive
- Spendthrift
- Average spending
What are the 3 levels of consumer decision-making?
- Extensive problem-solving
- Limited problem-solving
- Routinised-response behaviour
What is the difference between the consumer and customer
A consumer is always the end user of a product or service, but might not have purchased it.
A customer becomes a consumer if they make a purchase and use the product or service themselves.
A customer always purchases a product or service, but might not be the end user.
What are the 4 factors that influence consumer behavior
In general, there are four factors that influence consumer behaviour. These factors impact whether or not your target customer buys your product.
They are cultural, social, personal and psychological.
What is a consumer simple definition
1 : a person who buys and uses up goods. 2 : a living thing that must eat other organisms to obtain energy necessary for life. consumer. noun.
What is the most important step in the consumer decision process
Stage #1: Problem Recognition This is the most important step in the decision process because your customer has to realize they need your product before a purchase can take ever place.
This presents you with both the opportunity and the challenge of identifying with your customer.
What is buying behaviour
Definition of Buying Behavior: Buying Behavior is the decision processes and acts of people involved in buying and using products.
Need to understand: why consumers make the purchases that they make? what factors influence consumer purchases?
What are the types of consumer problems?
- Long Wait on Hold
- Unavailable or Out of Stock Product
- Repeating the Customer’s Problem
- Uninterested Service Rep
- Poor Product or Service
- No First Call Resolution
- Lack of Follow Up
- New Product or Feature Request
What are the internal influences on consumer buying behaviour
Internal factors include a consumer’s perception, learning and personality, while external factors include a consumer’s culture, social status, family and marketing activities.
What are the types of consumer?
- Loyal Customers
- Impulse Shoppers
- Bargain Hunters
- Wandering Consumers
- Need-Based Customers
What factors influence consumer purchasing decisions
The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer.
These factors can individually or collectively affect the buying decisions of the consumers.
What is the first and most important step in the consumer buying process
Problem/need recognition This is often identified as the first and most important step in the customer’s decision process.
A purchase cannot take place without the recognition of the need.
What is customer satisfaction
Customer satisfaction is defined as a measurement that determines how happy customers are with a company’s products, services, and capabilities.
Customer satisfaction information, including surveys and ratings, can help a company determine how to best improve or changes its products and services.
How can you improve buying behavior?
- Identify Customer Expectations
- Engage Prospects
- Evaluate Processes and Metrics
- Mobilize Your Leaders
- Look to the Future Now
What five influences most commonly affect a customer’s buying behavior
In a general scenario, we’ve got five main factors that determine consumer behavior, i.e these factors regulate if a target customer purchases a product or not.
These factors are namely Psychological, Social, Cultural, Personal, and Economic factors.
What are the 5 stages of buying behavior?
- Stage 1: Problem Recognition
- Stage 2: Information Gathering
- Stage 3: Evaluating Solutions
- Stage 4: Purchase Phase
- Stage 5: The Post-Purchase Phase
How do you influence customers?
- Make them feel uniquely special
- Offer lots of information
- Customers need to be involved in the decision
- Tell the story
- Make realistic promises
- Provide a high level of service
How do you satisfy your customers?
- Offer multi-channel support
- Make collecting feedback a company process
- Measure customer satisfaction regularly
- Ask for feedback across all touchpoints
- Actively ask customers for feedback
- Share feedback across all your teams
- Reply to all feedback
What are the factors affecting organizational buying behaviour?
- Environmental factors
- Organizational factors
- Interpersonal factors
- Personal factors
What customers value the most?
- Efficiency
- Convenience
- Friendly Service
- Knowledgeable Service
- Easy Payment
What are core customer values
As you can see, the core customer value can be many things – it is the underlying need and the reason why the product is bought in the first place.
It is the core problem solved by the product.
What are the 4 types of customer value
With a consumers’ wants and resources (financial ability), they demand products and services with benefits that add up to the most value and satisfaction.
The four types of value include: functional value, monetary value, social value, and psychological value.
What are the 3 types of buying situations or buy classes
There are three types of business buying situations that need to be considered. They are straight rebuy, modified rebuy, and new buy.
Straight rebuy refers to a repetition or routine in order processing. We use this term is for long-term suppliers.
What is effective decision-making
Effective decision making is defined here as the process through which alternatives are selected and then managed through implementation to achieve business objectives.
‘Effective decisions result from a systematic process, with clearly defined elements, that is handled in a distinct sequence of steps’ [Drucker, 1967].
What are the 3 types of decision-making?
- strategic
- tactical
- operational
What is importance of decision-making
The importance of decision making lies in the way it helps you in choosing between various options.
Before making a decision, there is a need to gather all available information and to weigh its pros and cons.
It is crucial to focus on steps that can help in taking the right decisions.
What is the first stage in decision-making
Step 1: Identify the decision You realize that you need to make a decision.
Try to clearly define the nature of the decision you must make. This first step is very important.
What are the 7 steps of the buying process?
- Consumer Decision Making Process Infographic
- Stage 1: Need Recognition
- Stage 2: Information Gathering
- Stage 3: Evaluation of Alternatives
- Stage 4: Assess the Evidence
- Stage 5: Selecting an Option
- Stage 6: Implement the Decision
- Stage 7: Decision Review and Evaluation
What are 3 levels of product
There are three levels of product, and each have a different impact by co-creation.
The three levels are the Core Product, the Actual Product and the Augmented Product.
References
https://smallbusiness.chron.com/consumer-behavior-influences-organization-31799.html
https://study.com/academy/lesson/what-is-consumer-behavior-in-marketing-factors-model-definition.html
https://www.retaildive.com/ex/mobilecommercedaily/analytics-key-to-uncovering-and-acting-on-customer-motivations
