Cultural And Social Factors Influencing Consumer Buying Behavior
Cultural and social factor:
Culture is a essential part of society and intimates people's wants and needs. Both the cultural and social factors have influences the consumer buying behavior as it varies from country to country and the marketer has to analyse it.
Physical factor depends on individual and differs from every persons. It includes age, sex, occupation, lifestyle, personality and interest. Consumers decision and buying behavior influences the character and attitude of each person. …show more content…
Economic model: It is based on the allocation of the price for the different product of a given rate. Price effect, substitution effect and income effect are the bases of economic model. 2. Learning model: It will gives a marketing strategy for the marketers depending on the response to the product by the consumers. Markets have an advantage that they can analyse the needs of consumers. 3. Psychological model: It refers to the personality of human behavior. This theory is developed by Sigmund Freud and according to him the outcomes are id, ego and superego. 4. Socialogical model: It refers to society and influenced by it and influences the development way. It changes the marketing pattern and try to change buying format.
Consumers in India:
Economy has a challenging role to understand buying behavior. In India the trend of buyers in buying attitude changes for past few years. Today's aim of consumer is to lead a luxury life with leading fashion and technology. Consumers in India is classified into four sectors such as 1. Upper class. 2. Working women. 3.