Free

Three of the psychological factors that influence consumer behavior are perception - Essay Example

Comments (0) Cite this document
Summary
Tracking trends is important in marketing because trends provide businesses and marketers with useful information in formulating marketing strategies and decision-making. Clearly, a company which fails to take into account the social, cultural, and environmental changes and trends would not be able to execute effective marketing decisions that maximize and efficiently utilizes resources…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.7% of users find it useful
Three of the psychological factors that influence consumer behavior are perception
Read TextPreview

Extract of sample "Three of the psychological factors that influence consumer behavior are perception"

Question Tracking trends is important in marketing because trends provide businesses and marketers with useful information in formulating marketing strategies and decision-making. Clearly, a company which fails to take into account the social, cultural, and environmental changes and trends would not be able to execute effective marketing decisions that maximize and efficiently utilizes resources. Tracking trends also enables a company to easily determine which aspect of the marketing mix needs to be utilized to accomplish targets, thereby saving company resources.
Three of the current trends that companies and marketers need to be aware of and consider in their marketing initiatives are the following: First, marketers need to take into account the increasing importance of information technology in consumer's lives and its immense impact on consumer buying behavior. Finetti notes that online advertising and new media channels "is becoming a larger part of the marketing mix" due to the increasing number of online users who utilize internet-enabled technologies to transact with companies. Second, marketers have to give due consideration to changing consumer preferences towards ethical and socially responsible consumption. The same author observes, for instance, that "more and more companies are going green." Apparently, this is in response to the growing public pressure on corporate actors to contribute to efforts at mitigating the social and environmental problems that business activities and the culture of consumption creates. Lastly, marketers have to take note of the lifestyle and economic changes wherein consumers live in a more fast-paced, time-constrained environment since this inevitably affect the way that consumers evaluate and associate themselves with products and companies. Hence, it is not surprising that brands such as Google, Yahoo, and Apple, which are associated with the young, hip, functional, and modern lifestyle, would gain immense popularity among consumers on a global level at such a very short period of time.
Question 2.
Three of the psychological factors that influence consumer behavior are perception, personality, and motivation (Kerin, et. al. 104). Perception is involved with getting the consumer's attention through the use of stimuli. This is usually done through the use of images, colors, sound, and other things in the packaging or even pricing of the product that would attract the consumer's attention to the product and encourage him or her to buy it. However, a person's personality also plays an important role in his or her buying attitudes and behaviors. Since an individual's personality consists of character traits and patterned behavior, it also has an impact on a person's self-image and lifestyle choices which affect his or her product preferences and consumption patterns (Ibid 105). For instance, a person who is given to impulsive tendencies may be more vulnerable to the influence of perception while another person will be able to resist even the most tempting or attractive packaging to prioritize only those he or she needs. Motivation, on the other hand, influences the individual to buy things that he or she thinks will address his or her safety, physiological, social, esteem, and self-actualization needs (Ibid). For instance, a hungry person will respond to a felt physiological need by buying food. Meanwhile, other consumers will buy products that they associate with a higher social status since they think that the product fulfills their need for esteem from others.
Among these three, the psychological factor that exerts the most influence on my buying behavior is motivation. I am usually attracted to products that I feel would address my need for social acceptance and boost my self-esteem. This means that I usually buy the products that would either enable me to fit in with my circle of friends, make me more healthy and attractive, or at least help make me stand out from the crowd as a unique individual.
Work Cited:
Finetti, Chris. "Cost and Effect: What Marketers Should Consider in Today's Economy." 22 February 2008. NIA Creative. 16 October 2008. http://www.niacreative.com/blog/p=7
Kerin, Roger A., Hartley, Steven W., & Rudelius, William. Marketing: The Core. United States: McGraw-Hill Professional, 2003. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Three of the psychological factors that influence consumer behavior Essay”, n.d.)
Three of the psychological factors that influence consumer behavior Essay. Retrieved from https://studentshare.org/miscellaneous/1533126-three-of-the-psychological-factors-that-influence-consumer-behavior-are-perception
(Three of the Psychological Factors That Influence Consumer Behavior Essay)
Three of the Psychological Factors That Influence Consumer Behavior Essay. https://studentshare.org/miscellaneous/1533126-three-of-the-psychological-factors-that-influence-consumer-behavior-are-perception.
“Three of the Psychological Factors That Influence Consumer Behavior Essay”, n.d. https://studentshare.org/miscellaneous/1533126-three-of-the-psychological-factors-that-influence-consumer-behavior-are-perception.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Three of the psychological factors that influence consumer behavior are perception

Consumer behavior

...?Consumer Behaviour – Motivation and Marketing Consumer behaviour comprises the purchasing inclinations of consumers. This behaviour can be explainedfrom different perspectives since a typical consumer passes through different levels of psychological being before he takes a decision regarding the purchase. These perspectives refer to social, cultural and personal impacts. Theory of consumer behaviour explains these aspects with help of different models. The key factor underlying all these models is the cognitive behaviour or psychological response to the external and internal stimuli. Amongst the internal factors which influence people in making their choice by interpreting market information are: perception, motivation, learning... media....
12 Pages(3000 words)Essay

How do Consumer Characteristics Influence Buying Behavior

...enormously varies in age, income, education, taste and quite a lot of other factors. In addition, the consumer characteristics that influence their purchasing habits also include elements such as cultural, social, personal, and psychological characteristics. Therefore, the consumer research findings provide a great deal of assistance to the firms, as they are then able to determine the strong association between the marketing stimulus and the customer reaction. In addition, the consumer characteristics that deeply persuade the buying behaviors are constructive and valuable for the marketers to identify and understand the...
7 Pages(1750 words)Research Paper

What Factors Influence Gang Behavior

...lengths, including murder, so as to protect their interests. In order to be able to solve this problem, it is important to study the reasons or the root causes of gang behavior with the intention of trying to prevent new gang membership, while at the same time embarking on a mission to dismantle the already existing ones. This paper is a critical evaluation of the factors that influence gang behavior. Factors that Influence Gang Behavior Human beings are born innocent, free of sins and incapable of making any decision. However, as they continue to grow, they are faced with numerous challenges raging from family issues to...
5 Pages(1250 words)Research Paper

How Social Psychological Factors Influence Aggression

...? How social psychological factors influence aggression How social psychological factors influence aggression Because of the prevalence of aggression within the human experience it is often considered to be a part of the human biological imperatives. However, social research has suggested that aggressive responses are learned rather than innate which allows for the idea that aggression is not a necessary and inevitable set of behaviours that must exist in the human world. Aggression is defined by the way in which one person has an effect on the other, the intention of that effect being some form of harm. The various forms of aggression...
6 Pages(1500 words)Essay

Consumer Perception

...the perceptions of all. Such products are made to provide a stage ahead of what people are already using. It is one of those consumer products which is actually conceptualized keeping in mind the mind set and trend adopted by the people since past few years. Consumer products have been evolving from stage to stage and have reached a top level of providing satisfaction to all. This is possible due to survey and research of consumer demands and their likings. Research helps manufacturers and companies to predict what sort of ease and benefit a customer is looking towards from a particular product. However, consumers have always looked for better options...
3 Pages(750 words)Essay

Factors that Influence Consumer Behavior Patterns, when Purchasing Fashion Items

...and also how retailers react to such characteristics. In particular this research proposal will look at the cultural factors, demographic factors and psychological factors that influence consumer buying. What are the influences consumer behavior for fashion item product? How do the influences differ? What are the motivations behind the purchases? In which fashion segment the consumers are more loyal? LITERATURE REVIEW: Cultural Factors Cultural influences, therefore, are powerful ones and if a company does...
11 Pages(2750 words)Essay

Consumer Behavior: The Influence of Culture & Subculture

...is that culture is a very strong determinant of consumer behavior and it can be used in favor of the brand by matching the marketing messages with the culture values of the target market. Further, cultural factors have even been scientifically proven to have an effect on the cognitive process of consumers. For instance, the perceptional distortion is influenced by the norms we are surrounded with. Yet another factor is, culture determines many different behaviors and help marketers to design related strategies accordingly. For instance, a later segment of this report will discuss the...
8 Pages(2000 words)Research Paper

How Do Consumer Characteristics Influence Buying Behavior

..., taste and quite a lot of other factors. In addition, the consumer characteristics that influence their purchasing habits also include elements such as cultural, social, personal, and psychological characteristics. Therefore, the consumer research findings provide a great deal of assistance to the firms, as they are then able to determine the strong association between the marketing stimulus and the customer reaction. In addition, the consumer characteristics that deeply persuade the buying behaviors are constructive and valuable for the marketers to identify and understand the consumers that the firms...
9 Pages(2250 words)Research Paper

Consumer behavior: influence of music in advertising

...Consumer Behavior: Influence of Music in Advertising s Consumer Behavior: Influence of Music in Advertising Introduction Use of music in advertisement has become a common phenomenon among advertisers in contemporary advertisement sector. In advertisement, music can be used to serve background role or for tinkle purpose (Campbell and Goodstein, 2001). It can also be used to communicate the required information in the advertisement. In television, commercials music is used in such a way that it goes together with the activities in the screen. The same case applies to radio advertisement. Music in advertisement is selected in connection with the type of brand being advertised, for common application, or for price reflection. Music... use of...
8 Pages(2000 words)Research Paper

Factors That Influence and Shape Organizational Behavior

...of Affiliation Outline I. Introduction Organizational behavior refers to an established culture within an organization, which majorly encompasses the manner in which persons or groups operate in order to maximize or boost output. Proper knowledge of an organizational behavior is vital for the process of establishing healthy relationships through aspects such as social objectives and organizational objectives. II. Body A. Factors that influence and shape organizational behavior Several factors come into play during the early stages of the development of the organizational behavior. A combination of these...
2 Pages(500 words)Research Proposal
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Three of the psychological factors that influence consumer behavior are perception for FREE!

Contact Us