Consumer markets and consumer buyer behavior. Market analysis Contents

Culture is the combination of subcultures. If you are a Muslim, Hindu or Christian, your buying behavior will be influenced by different subcultures. It will affect your choice and preferences like your food, clothing, career goals and recreational activities.
Another cultural factor is the social class that can affect the consumer buying behavior in different parts of the world. For example, in the western world, both the lower class and upper might show the same buying behavior. But in other countries like India upper class have a tendency to buy luxury cars, gadgets, and personal care products. But people from the lower class are unable to spend money on these purchases.
Social Factors
Social factors greatly influence the purchasing behavior of consumers. Social influencers are diverse and include family, school or work communities, social interaction or any group with which an individual interacts. It also includes an individual’s social class which comprises of education level, living conditions, and income.
Social Reference. For example, Last month I was eagerly needed a laptop. I went to a nearby market and purchased a MacBook Pro laptop. What factors affect my buying decision and why I purchased MacBook Pro. It was because my closest friend already having the same brand and he is quite satisfied with this product.
Family. Family plays an important role in the decision-making process. For example, if you are a married person, you will always prefer those products that would benefit both husband and wife.
Social Role and Status. Let us understand social role and status and how it affect consumer behavior. For example, you are a Chief Financial Officer in a leading organization, you are someone’s son, husband and father. your role can also affect the buying tendency of many people.
Personal Factors
Personal factors impact buying decisions and include age, economic situation and occupation. In considering personal factors, buying behavior is also influenced by habits, opinions and interests along with other personal issues.