Consumer Behavioral Factors - Literature review Example

Consumer Behavioral Factors Consumer Behavioral Factors Introduction Consumer behavior is an important element in marketing and sale of products. Kumra (2007) explains that consumer behavior is just the behavioral study of groups, individuals, and organizations in their selection use and dispose of products. Ideally, the study analyzes why the individuals or the groups use the products, and this specifically highlights on satisfaction of their needs and impacts on the use products by the individuals. According to Hoyer and MacInnis (2001), consumer behavior constitutes surveys on different user characteristics including demographics, psychographics as well as behavioral variables in an attempt to understand what they want. Arguably, the influence of external forces such as family, sports, changing fashions, reference groups, culture, and friends may also shape the behavior of the consumer. They are also considered in studying the behaviors of customers in a particular market. More precisely, consumer behavior is a key a determinant of buyers purchase behavior. According to Moschis (2007), with consumer behavioral characteristics in place it is easy for the marketing experts to predict whether an individual product may gain a market share with its entrance into the marketplace. Ideologically, the relationship marketing is the magic through which customers are influenced to make a purchase of an organizations product. More advantageously, by understanding the consumer behavior, it becomes easy to retain customers as well as customize the market with the given product (Parker & Kim 2003). The New Brother Business Laser Fax Machine (MFC-7290) Background Even though the Brother Fax Company has been in the world market for several decades with various fax machines and printers, the sales have remained dismal due to small numbers of customers across different markets. The company has restructured its products to gain customers acceptability as well as loyalty to gain a competitive edge in the fast-changing competitive market. In considering the consumer behaviors, the Brother’s extensive product portfolio has designed a new printer with MFCs that combines reliability with increased efficiency, productivity, and convenience while providing reduced risk for data loss. In this, the company has ensured that value is created for the customers through innovation to the products they use in their daily lives in the offices as well as at their homes. Mostly, "the updated laser MFC and laser fax devices help answer the complex needs of customers requires robust technology for a competitive edge, whether at home or in the workplace.” Individual Consumer Behavioral Factors 1. Occupation Though there are several factors, that influence the behaviors and attitudes of consumers towards products, the occupation of an individual plays a significant role in influencing his/her buying decision. Qin (2007) defines it as a job or profession or activity in which one engages. The nature of individuals type of job directly influences the product or brands they use or select. Arguably, the kind of occupation dictates what products one needs and uses. In the case of Brother new business Laser Fax Machine, individuals who work in offices and print data will automatically be influenced to either use this product at the office or their homes. Since most professions utilize office stationery as well as a machine, this particular product has huge customer base across all the fields. Subsequently, an individual’s designation and his post in work influence his buying decisions. For instance, the education institutional tutors will need the new Brother Laser Fax machines in executing their daily tasks rather than the farmers back in the villages. Also, the college goers and students would prefer using the machines rather than other products to get in touch with their course instructors as well as print the necessary information that they need for learning. 2. Age Age is another factor that greatly influences the consumers buying decision. Saito (2009) defines age as a human lifecycle that has a direct influence on the buying behavior of the customers. Individuals at different age groups prefer different products depending on the significance of the product to them. For instance, the teenagers would love to buy Brother Devices with brighter and loud colors rather than the middle-aged and elderly that may prefer subtle and decent designs. As such, the product must be designed in such a way that it caters to the needs of the different age groups and match their perception. In fact, the product features should be differentiated to satisfy the needs and wants of each and every age bracket. 3. Economic condition On the other hand, the financial condition of an individual also influences the buyers behavior in the market. According to Tang and Kuo (2010), the economic condition is an element of the consumer’s income or earnings. The buying tendency of a consumer is directly proportional to this earning or income per month. Arguably, the value of revenue an individual takes home determines how much he spends and what products he should buy. From an economic perspective, the disposable income will first be devoted to basic needs then later to other products that they also feel that they need to buy (http://www.consumerpsychologist.com/). The new Brother Laser Fax device targets the high-income buyers who ultimately have the additional income to spend on second order and premium goods, being that it is in the second order of requirements. The high-income earners are ready targets of the new features of the products, and they will be automatically be tempted to make a try of the product. After realizing the value of the product, they will become loyal customers and influence others to purchase it. 4. Lifestyle Lifestyle is a term proposed by Austrian psychologist Alfred Adler in 1929 it refers to the means by which people stay in the society (Solomon 2004). It determines products used and purchased in the community. Since its dependence on the publics perception, it is critical to consider the culture and styles of people in the society. The Brother Fax Company device in this essence must meet the expectations of Oman culture as well as enhancing social relations of the population in this surrounding. 5. Personality Last but not least, personality is a crucial determinant in the buying behavior. The individual characteristics or traits as described by Saito (2009) are reflected in the purchase behavior of a consumer. A fitness freak would always look for fitness equipment. In the case of the Brother device, the product feature must entertain the personality traits of the consumer for it to be acceptable. Conclusion In summary, several behavioral factors affect the purchase behavior of customers. These factors include occupation, age, economic condition, lifestyle as well as the personality of the individual consumer. In general, each of the factors determines what the buyers use and buy whereas other factors determine the consumers ability to purchase the product. Bibliography Consumer Behavior: The Psychology of Marketing. (n.d.). Retrieved from http://www.consumerpsychologist.com/ Hoyer, W. D., & MacInnis, D. J. (2001). Consumer behavior. Boston: Houghton Mifflin. Kumra, R. (2007). Consumer behavior. Mumbai: Himalaya Pub. House. Moschis, G. P. (2007). Life course perspectives on consumer behavior. Journal of the Academy of Marketing Science, 3(2), 1-10. Doi:10.1007/s11747-007-0027-3 Park, C., & Kim, Y. (2003). Identifying key factors are affecting consumer purchase behavior in an online shopping context. International Journal of Retail & Distribution Management, 2(1), 1-5. Doi:10.1108/09590550310457818 Personal Factors are Affecting Consumer Behavior. (nod). Retrieved from http://www.managementstudyguide.com/personal-factors-affecting-consumer-behaviour.htm Qin, M. (2007). Consumer Behavior towards Continued Use of Online Shopping: An Extend Expectation Disconfirmation Model. Doi: 10.1007/978-0-387-75466-6_45 Saito, F. (2009). Consumer behavior. New York: Nova Science Publishers. Solomon, M. R. (2004). Consumer Behavior: Buying, having, and being. Upper Saddle River, NJ: Pearson/Prentice Hall. Tang, M. L., & Kuo, C. W. (2010). Toward an Integrative Model for Consumer Behavior regarding Mobile Commerce Adoption. Doi:10.1109/CyberC.2010.34 Read More