3.1 Factors That Influence Consumers’ Buying Behavior | Principles of Marketing

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HomeTable ofContentsChapter 3: Consumer Behavior: How People Make Buying Decisions3.1 Factors That In0uence Consumers’ Buying BehaviorLearning Objectives1. Describe the personal and psychological factors that may influence what consumers buy and when they buyit.2. Explain what marketing professionals can do to influence consumers’ behavior.3. Explain how looking at lifestyle information helps firms understand what consumers want to purchase.4. Explain how Maslow’s hierarchy of needs works.5. Explain how culture, subcultures, social classes, families, and reference groups affect consumers’ buyingbehavior.You’ve been a consumer with purchasing power for much longer than you probably realize—since the first time you wereasked which cereal or toy you wanted. Over the years, you’ve developed rules of thumb or mental shortcuts providing asystematic way to choose among alternatives, even if you aren’t aware of it. Other consumers follow a similar process, butdifferent people, no matter how similar they are, make different purchasing decisions. You might be very interested inpurchasing a Smart Car, but your best friend might want to buy a Ford F-150 truck. What factors influenced your decisionand what factors influenced your friend’s decision?As we mentioned earlier in the chapter, consumer behavior is influenced by many things, including environmental andmarketing factors, the situation, personal and psychological factors, family, and culture. Businesses try to figure outtrendsso they can reach the people most likely to buy their products in the most cost-effective way possible. Businesses often tryto influence a consumer’s behavior with things they can control such as the layout of a store, music, grouping andavailability of products, pricing, and advertising. While some influences may be temporary and others are long lasting,different factors can affect how buyers behave—whether they influence you to make a purchase, buy additional products,or buy nothing at all. Let’s now look at some of the influences on consumer behavior in more detail.Situational FactorsHave you ever been in a department story and couldn’t find your way out? No, you aren’t necessarily directionallychallenged. Marketing professionals take physical factors such as a store’s design and layout into account when they aredesigning their facilities. Presumably, the longer you wander around a facility, the more you will spend. Grocery storesPrinciples of Marketing
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frequently place bread and milk products on the opposite ends of the stores because people often need both types ofproducts. To buy both, they have to walk around an entire store, which of course, is loaded with other items they might seeand purchase.Store locations also influence behavior. Starbucks has done a good job in terms of locating its stores. It has the processdown to a science; you can scarcely drive a few miles down the road without passing a Starbucks. You can also buy cups of

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Term
Spring
Professor
Foxman
Tags
Marketing, Consumers
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
Consumer Behavior
The document you are viewing contains questions related to this textbook.
Chapter 3 / Exercise 6
Consumer Behavior
Hoyer/MacInnis
Expert Verified

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