Mar 11, 2019 · What are the psychological factors that may influence the prospect’s buying decision? 1. Motivation to buy must be present. Needs indicate a desire, and wants are needs learned. 2.Economic needs: Best for the price. 3. Awareness of needs. 3.
Jan 31, 2018 · The psychological factors that influence an individual's decision to make a purchase are categorized into the individual's motivations, perceptions, learning and his beliefs and attitudes. The motivation is the drive that leads …
Solutions for Chapter 4 Problem 2SAQ: What are the psychological factors that may influence the prospect’s buying decision? … Get solutions Get solutions Get …
The “Big Five” personality traits that psychologists discuss frequently include openness or how open you are to new experiences, conscientiousness or how diligent you are, extraversion or how outgoing or shy you are, agreeableness or how easy you are to get along with, and neuroticism or how prone you are to negative mental states.
A person has many needs at any given time. Some needs are biogenic; they arise from physiological states of tension such as hunger, thirst, discomfort. Other needs are psychogenic; they arise from psychological states of tension such as the need for recognition, esteem, or belonging.
A motivated person is ready to act, yet how that person actually acts is influenced by his or her perception of the situation.
When people act, they learn. Learning involves changes in an individual's behavior that arise from experience. Most human behavior is learned. Theorists believe that learning is produced through the interplay of drives, stimuli, cues, responses, and reinforcement. A drive is a strong internal stimulus that impels action.
Through doing and learning, people acquire beliefs and attitudes that, in turn, influence buying behavior. A belief is a descriptive thought that a person holds about something. Beliefs may be based on knowledge, opinion, or faith, and they may or may not carry an emotional charge.
Marketers have to go beyond the various influences on buyers and develop an in-depth understanding of how consumers actually make their buying decisions. Specifically, marketers must identify who makes the buying decision, the types of buying decisions, and the stages in the buying process.
Attitudes and Beliefs. Attitudes and beliefs represent another psychological factor that influences consumer behavior. A belief is a conviction a person holds about something, such as “dark chocolate is bitter,” or “dark chocolate is delicious,” or “dark chocolate is good for baking.”.
Motivation. A motive is the inner drive or pressure to take action to satisfy a need. A highly motivated person is a very goal-oriented individual. Whether goals are positive or negative, some individuals tend to have a high level of goal orientation, while others tend to have a lower level of goal orientation.
For motivation to be useful in marketing practice, it is helpful for marketing managers to understand how motivation plays into a specific purchasing situation— what triggers consumers to set goals, take action, and solve their need-based problems.
Socialization agents might include any person, organization, or information source that comes into contact with the consumer. Consumers acquire this information from other individuals through the processes of modeling, reinforcement, and social interaction. Modeling involves imitation of the agent’s behavior.
When a colleague compliments a coworker on her outfit, it conveys a rewarding message about the type of clothing to wear to work. Marketers might use reinforcement by providing good product performance, excellent post-purchase services, or some similar rewarding experience.
People have beliefs and attitudes about all sorts of things: food, family, politics, places, holidays, religion, brands, and so on. Beliefs and attitudes may be positive, negative, or neutral, and they may be based on opinion or fact.
Learning does not include behavior associated with instinctive responses or temporary states of an individual, such as hunger, fatigue, or sleep. Learning is an experience and practice that actually brings about changes in behavior.
The link between people’s personalities and their buying behavior is somewhat unclear . Some research studies have shown that “sensation seekers,” or people who exhibit extremely high levels of openness, are more likely to respond well to advertising that’s violent and graphic.
Herd behavior helped drive up the price of houses in the mid-2000s before the prices for them rapidly fell. Unfortunately, herd behavior has also led to the deaths of people. In 2008, a store employee was trampled to death by an early morning crowd rushing into a Walmart to snap up holiday bargains.
Physical factors that firms can control, such as the layout of a store, music played at stores, the lighting, temperature, and even the smells you experience are called atmospherics. Perhaps you’ve visited the office of an apartment complex and noticed how great it looked and even smelled. It’s no coincidence.
Perception is how you interpret the world around you and make sense of it in your brain. You do so via stimuli that affect your different senses—sight, hearing, touch, smell, and taste. How you combine these senses also makes a difference. For example, in one study, consumers were blindfolded and asked to drink a new brand of clear beer. Most of them said the product tasted like regular beer. However, when the blindfolds came off and they drank the beer, many of them described it as “watery” tasting (Ries, 2009).
Over the years, you’ve developed rules of thumb or mental shortcuts providing a systematic way to choose among alternatives, even if you aren’t aware of it. Other consumers follow a similar process, but different people, no matter how similar they are, make different purchasing decisions.
Reference groups are groups (social groups, work groups, family, or close friends) a consumer identifies with and may want to join. They influence consumers’ attitudes and behavior. If you have ever dreamed of being a professional player of basketball or another sport, you have an aspirational reference group.
A social class is a group of people who have the same social, economic, or educational status in society 5. While income helps define social class, the primary variable determining social class is occupation. To some degree, consumers in the same social class exhibit similar purchasing behavior.
Perception is essentially the way a person selectively views, processes and interprets the larger world or any part of it . It’s basically how we as human beings organize and make sense of information to form some sort of worldview.
A consumer’s motivation is the basic degree of the psychological drive behind a specific purchase. If the consumer’s motivation is high, that basically means that the level of need, or the consumer’s perception of that need, is fairly strong. Given a high degree of motivation, the individual will actively seek to satisfy that need by making ...
A consumer’s beliefs and attitudes greatly influence the buying decisions that consumer makes. Beliefs are the way people think about a particular product or brand, while an attitude is the individual's consistently favorable or unfavorable evaluation, tendency or feeling about a product or brand.
What makes them choose one company over another? To maximize your sales revenue and grow your business, it’s important to leverage the four key psychological factors that influence consumer purchasing: motivations, perceptions, experience and beliefs.
It’s human nature for consumers to make all kinds of associations, both conscious and subconscious, from their experiences. Once a brand has established itself as having a certain personality – for example, Walmart and other similar stores' low-cost positioning – it’s difficult to overcome that in the marketplace.
Psychological Factors Influencing Consumer Behavior. Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. Some of the important Psychological Factors are: Motivation: The level of motivation influences the buying behavior of the consumers.
Perception: The consumer perception towards a particular product and the brand also influences his buying decision. The perception is the process through which the individual selects, organize and interpret the information to draw a meaningful conclusion.
Thus, the marketer should try to understand the attitudes and beliefs of individuals and design the marketing campaigns to retain the consumers. Learning: The individual’s learning depends on the skills, knowledge and intention.
In selective attention, the marketer tries to gain the attention of the customer towards his offerings. Different people have different perceptions about the same product depending on their individual beliefs and attitudes which give rise to selective distortion.
Motivation: The level of motivation influences the buying behavior of the consumers. It is very well explained by Maslow through his need hierarchy theory comprising of basic needs, security needs, social needs, esteem needs and self-actualization needs. Usually, the basic needs and the security needs are more pressing needs than ...
In the conditional learning, the consumer derives learning from being conditioned to particular stimuli, i .e. when he is exposed to the similar situation, again and again, he develops a particular response towards it.
While in the cognitive learning the individual applies all his knowledge, skill, attitudes, values and beliefs to find the solution of a problem and derive satisfaction out of it. Attitudes and Beliefs: The individuals have certain beliefs and attitudes towards products on which their purchase decisions rests.