The Consumer Market, Essay Example

The content highlighted in this section aims at researching and analyzing of the various cultural, social, and personal factors that are most likely to influence the consumer behavior towards buying the product. These factors stimulate the customers to cultivate a particular preference towards a brand or product. Although many of these factors cannot be directly controlled by marketers, understanding of their impact is essential as marketing mix strategies can be developed to appeal to the preferences of the target market.

Cultural Factors

The cultural factors that are likely to affect consumer behavior towards this product mainly depend on the different ideologies, subculture and social class. The cultural factors are inherent in value and decision methods. The subcultures involve the religions, age groups, nationalities, ethnic groups or gender of the customer. Consumers are usually more receptive to products and promotional plans that precisely target their cultural traits. The social class also has a substantial effect on the consumer behavior towards buying goods. Individuals from diverse social classes tend to have different needs and consumption preferences. The social classes tend to create the disparity resulting from the difference in purchasing power.

Social Factors

Social factors are major issues influencing consumer behavior. They exist in the categories entailing the family, the social roles or status and the reference groups. The reference groups determine the preference of customers through being influenced by groups, for example, in school or college. Consumers tend to purchase the product because it is affiliated to a particular popular group.

The social roles and rank of an individual also determine their choice to purchase the product. If one has a high social ranking, for example, a CEO, they might not purchase the product if they consider the price being too cheap. Family traditions also tend to affect an individual’s choice to use a particular product. If one grew up in a family which has had a negative preference towards using the product since childhood then it would be hard to change their mind about purchasing the product.

Personal Factors

These include variables such as the lifecycle stage, the age group, economic circumstances, occupation in an individual’s lifestyle. The self-concept and personality regarding the preferences people have towards the product frequently change with change in their `situation’. The customer’s situation can be affected by their purchasing power, their geographical location and way of life which mainly entails the activities, interests, demographics and opinions.

Research Tools

The research tools that would help one better understand the effect on buyer attitudes and behavior mainly include focus groups, surveys, interviews and surveys. Surveys and interviews offer a lot of conclusive information regarding consumer interests towards the product. Focus groups, on the other hand, offer open discussions regarding the product with the consumers in the market. Observation can also be a preferred method to analyze and note consumer preferences in the market.

Aspects of Consumer Behavior

The aspects that are essential to facilitating the marketing plan for this particular product mainly entails the social aspects of the consumer behavior and certain internal factors. The social aspects mainly influence the external elements such as the culture, family, and social class. If great emphasis is put on the internal factors like the desire, beliefs and needs of the customer, it would be helpful towards determining what motivates the customer to purchase the product.

The marketing activities that would be planned to coincide with each stage of the consumer buying process mainly involve the creation of awareness through facilitating information search regarding the product. This will enable the customers to evaluate the product and differentiate their preferences in order to come up with a final decision. Offering purchase and after purchase services is also vital to ensuring consumer satisfaction. This can be achieved through communication of incentives and creation of brand advocates that conserve the image of the product.