Consumer behavior is the study of how and why individuals make purchasing decisions, influenced by cultural, social, personal, and psychological factors. Cultural influences stem from family and societal environments, while social factors involve the impact of peer groups. Personal needs and psychological perceptions also play crucial roles in shaping consumer choices over time.

1. FACTORS INFLUENCING
CONSUMER BEHAVIOUR
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2. Consumer behaviour is said to be the study of when, why, how and
where people do or do not buy a product. It’s basically something that
depends on the psychology of the consumer. In this, we attempt to
understand the buyer’s decision-making process. It also includes the
study of individual consumers such as demographics & behavioural
aspects for understanding the people’s wants and needs.
It ‘s been defined as the study of individuals about the methods they
use to search, select, use products, services, experience, or ideas to
satisfy their needs and desires.
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3. There are four main factors influencing consumer behaviour:
1.Cultural factors
Cultural factors come from different components related to culture
or cultural environment of the consumer. Culture can play an
important role when it comes to understanding the needs of your
customer. Throughout an individual’s existence, the person is strongly
influenced by his family, friends, his cultural environment. That’s what
defines his identity and his choices. Well, that’s why for a brand it’s
important to understand and take into account the cultural factors
related to the customer.
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4. Social factors
Social factors are defined as the type of factors that influence consumer
behaviour significantly. The membership groups and reference groups
influence an individual’s social life. An individual easily gets attracted
and influenced by the people in their social circle and it’s something
that definitely matters.
Personal factors
This is yet the most important factor. Your personal needs and desires
matter the most. Decision and buying behaviour of each individual
definitely decides their consumer behaviour. Moreover, a consumer
does not buy the same products at 20 years of age and at 60 years of age.
The choices will definitely change with the duration of time. The factors
that influence the buying decision of an individual can change with the
duration of time.
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5. Psychological factors
Psychological factors are the most hidden and the most important
ones that define an individual’s buying decisions. An individual’s
perception decides what matters the most and it can directly affect the
consumer’s buying decisions.
So, consumer behaviour is all about learning how an individual selects
and uses particular products and services.
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