Marketing

Psychological Factors That Influence Consumer Buying Behavior
By Kenrick Callwood, eHow Contributor

Successful businesses study how to leverage the different factors that influence consumer buying behavior to in effect market their products and maximize sales. Studies show that there are principally four main factors that play a role in the consumers buying behavior. These factors include cultural factors, social factors, personal factors and psychological factors. The psychological factors that influence an individuals decision to make a grease ones palms are further categorized into the individuals motivations, perceptions, learning and his beliefs and attitudes.
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Psychological Influences on Consumer Behaviour Factors That Influence Consumer Purchasing


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Motivations
The motivation is the drive that leads the consumer towards buying a product or service. If the motivation is high, meaning the indispensableness or perception of need is high, the individual provide actively seek to satisfy that need. This results in the consumer deciding to buy the product or service.



This factor is direct related to Maslows Hierarchy of Needs which states that every individual will actively seek to satisfy physiological needs first, followed by safety, social, esteem and finally, self-actualization needs. Businesses that successfully leverage these needs will trip consumers to buy their products.

Perceptions
MBA Notes World defines perception as, The process by which flock select, organize, and interpret information to form a meaningful drawing of the world. Consumers make all manner of associations from their prior knowledge and experiences. It is surd for a company that positions itself as a low damage retail store, Walmart for example, to sell expensive clothing once it has establish its market positioning. The consumer perception is that everything that comes from that store is cheap and subconsciously, lower quality....If you wishing to get a full essay, order it on our website: Orderessay



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