Understanding the elements of consumer behavior can help businesses make better business decisions. This includes looking at lifestyle information such as family, religion, life roles, social class and reference groups.
Economic conditions are another important factor to consider. When the economy is strong, consumers have more disposable income to spend on products and services. This can lead to higher market growth and competition intensity.
The Motivation-Need Theory is often taught in business or management classes. It focuses on how needs influence an individual’s behavior. Maslow’s hierarchy of needs suggests that there are basic biological and psychological needs that must be satisfied. A deficiency in these needs causes dissatisfaction. The satisfaction of these needs leads to motivation. Hertzberg’s two-factor model is also related to this concept. It shows that an avoidance tendency may be linked to unsatisfactory product attributes (inhibitors) and an approach tendency may be linked to satisfactory product attributes (facilitators).
Abraham Maslow suggested that people are motivated to work toward the higher level needs once lower-level needs are met. However, some researchers suggest that the motivational dimension is more than just a means-end belief. It has a more directional aspect and an arousal component that triggers the desired goal state.
Freud’s Psychoanalytical Model
Freud’s theory was based on the belief that humans have two basic instincts: eros and thanatos. He also believed that the superego contains ideals and morals which prevent people from acting out based on their internal desires. He also claimed that we all use ego defense mechanisms to distort reality.
While his work has influenced psychology, Sigmund Freud has many critics. These critics claim that his psychoanalytical method is flawed and that he twisted the truth to make his theories sound plausible. They also argue that he relied too heavily on free association to create his theories.
Irigaray also claims that Freud’s one sex theory limited his ability to understand women. She believes that Freud reduced women to male experience, and therefore saw female subjectivity as a defective version of male subjectivity.
Habitual Buying Behavior
Consumer buying behavior is affected by a number of internal and external factors. These include a person’s income level, personal preferences and beliefs. Consumer buying behavior also varies between different communities. The cultural values, ideologies and beliefs that a community shares influence its buying behavior.
Habitual buying behavior includes repeat purchases of common day-to-day products. For example, someone who buys the same brand of toothpaste at the grocery store each time has this type of behavior. This type of behavior is low involvement and has little to no brand loyalty.
Variety-seeking buying behavior involves brand switching due to curiosity rather than dissatisfaction with a product. For instance, a person who normally buys one brand of tortilla chips may switch brands to try something new for the sake of variety.
Variety Seeking Buying Behavior
Variety seeking buying behavior is a form of exploratory purchasing tendency that results in a customer trying out different products. This behavior is often observed in the food, cosmetic, and clothing industries. For example, a consumer might shop for their favorite brand of bread, but then switch to another based on a promotion or new product they’ve tried.
While marketers typically strive to make their customers more loyal and committed to their brands, it’s important for them to understand the needs of consumers who prefer variety. These buyers are usually less involved in the purchase decision, so they’re more likely to try different products without a lot of research or consideration. This type of buyer is a great one to attract with visual advertising.
Complex Buying Behavior
There are many factors that affect consumer buying behavior. Understanding these factors can help businesses maximize profits and revenue growth. For example, a business owner can use this knowledge to promote products to consumers that will attract them the most and convert them into sales.
Complex buying behavior is characterized by high levels of involvement in the purchasing process and thorough research. This type of purchasing behavior usually occurs with expensive or infrequently brought products such as a car or a house.
Other important elements of consumer buying behavior are family, reference groups and social classes. A person’s social class determines the types of products they buy and how much they spend on them. It also influences their perception of a brand. For instance, a middle-class person might buy a Rolex watch to impress others in their social group.