Marketing - Lesson 4

Major Factors influencing Buying Behaviour:-
Cultural Factors
Culture: values, perceptions, preferences and behaviours.
Subculture: nationalities, religions, racial groups & geographic regions.
Social Class: homogeneous & enduring divisions, hierarchically ordered, members share common values indicated by occupation, income, education, etc.
Social Factors
Reference Groups: All groups that have a direct (membership groups) or indirect influence on attitudes or behaviour. These groups expose us to new behaviours & lifestyles that influence attitudes & self concept create pressures for conformity that influence brand choice.
Family: Most important & influential primary reference group
Family of orientation – parents & siblings
Family of procreation – spouse & children
Roles and Statuses:
A person participates in many groups – family, clubs, and organizations. The person’s position in each group can be defined in terms of role and status. A role consists of the activities that a person is expected to perform. Each role carries a status. People choose products that communicate their role and status in society.
PERSONAL FACTORS
A buyer’s decisions are also influenced by personal characteristics. These include the buyer’s age and stage in the life cycle, occupation, economic circumstances, lifestyle and personality and self-concept.
Psychological Factors
Maslow’s Hierarchy of Needs


7 O's Framework

·         WHO BUYS - OCCUPANT
·         WHAT DOES HE BUY - OBJECT
·         WHY DOES HE BUY - OBJECTIVE
·         WHEN DOES HE BUY - OCCASION
·         WHERE DOES HE BUY - OUTLET
·         HOW DOES HE BUY - OPERATIONS
·         WHO ARE INVOLVED - ORGANISATION
Buying Roles

•          INITIATOR
•          INFLUENCER
•          DECIDER
•          PURCHASER
•          USER
STAGES OF BUYING DECISION PROCESS
•          PROBLEM RECOGNITION
•          INFORMATION SEARCH – Criteria, Alternatives
•          EVALUATION OF ALTERNATIVES
•          PURCHASE DECISION
•          POSTPURCHASE BEHAVIOUR
INFORMATION SEARCH SOURCES
•          PERSONAL SOURCES
•          COMMERCIAL SOURCES
•          PUBLIC SOURCES
•          EXPERIENTIAL SOURCES
FCB Model

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