Factors Influencing Consumer Behaviour and Marketing Strategies

CONSUMER
BEHAIVOUR

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Decision process of consumers while using consumer behavior theory.....................................1
The way marketer have influenced these factors using marketing strategies.............................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Consumer behaviour is a learning of how customers, groups and organizations choose,
influence, utilize and discard opinions, goods and services to satisfy their needs and wants. It
mentions to the actions of the customers at the market space and the implicit motives for those
actions. This report will evaluate the factors that influence the decision process with the help of
consumer buying behaviour theories. In addition to consumer buying behaviour theories, this
report will also highlight the attempts of marketers in order to target factors which influences the
purchase decision of consumers (Nguyen, 2018).
MAIN BODY
Decision process of consumers while using consumer behaviour theory
Consumer buying behaviour is described as decision process which influences the
actions of customers while purchasing a product or services from specific company or brand
(Reisch, 2017). In the decision-making while choosing specific products or services, consumer
behaviour theories helps the customers as well as the marketers in order to capitalize on the
behaviour of customers by predicting how and when client will make a purchase. Theories of
consumer behaviour are a logical extension of human behavioural theories which helps in
providing a specific portion of mystery in understanding the psychological procedure of people
and their consumption patterns (Laskova, 2017). The consumer behaviour theories can classified
into different categories such as:
 Marshallian consumer behavioural theory: This theory believed that the customers
purchase their goods and services based on the offer given by the marketers in order to
satisfy personal needs and wants of the consumers (Berasategui, 2017). According to this
theory, it is analysed that customers purchase products what they like the most at first
instance if they can afford it. However, the marketers also find several useful hypotheses
in state of influencing the purchase behaviour of customers (Antonides, 2017). Marketer
believes that if a product price is lower, it automatically attracts more and more
customers. Although, if there is any substitute available in the market space with lower
price, the sales of the substitute product is higher. The last factor which influences the
buying behaviour of the consumer is that if the income of the customer is higher, sales of
a product will be higher irrespective of its price. For instance, when I went to purchase a
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