Impact of Psychological and Sociological Factors on Consumer Behaviour

Consumer
Behavior

Consumer Behaviour 1
Contents
Impact of the psychological and sociological factors on the purchasing decision of the customers on a
luxury product............................................................................................................ 2
Purchasing style for the fast moving consumer goods............................................................5
References................................................................................................................ 7

Consumer Behaviour 2
Consumer behaviour is stated as the study of the way customers, groups or organizations
prefer, buy, use and dispose of goods and services in order to satisfy their requirements and
wants. The consumer behaviour influences the buying decisions of the customers. The
consumer behaviour helps marketers to discover the products required and the obsolete
products in the market. It assists marketers to present the products so that it can put a
maximum impact on the customers. The report includes the consumer behaviour associated
with the purchase of the Michael Kors (MK) bags. This report comprises the way
psychological and sociological factors influence the buying decision of customers on a luxury
product. The purchasing style for the fast-moving consumer goods has been also discussed in
the report.
Impact of the psychological and sociological factors on the purchasing decision of the
customers on a luxury product
Both psychological and sociological factors have become much more significant day by day.
The marketing takes place with the requirements of the customers and ends with satisfaction.
As everything revolves around the customer so the study of the consumer behaviour becomes
a stipulation. Nowadays customers have great options to pick so persuading of the customers
by the marketers has a critical impact on their buying. It is needed to study consumer
behaviour by the marketers in order to encourage the customers (Bruttel, 2018). The
psychological factors influencing customer behaviour on the purchase of Michael Kors bags
are mentioned below.
Culture: The culture is a complex framework of a set of beliefs and principles held by the
customers and these describe the role played by the member of the community. The culture
also describes the ethnicities and the customs of the community. The customers contained by
the society can easily determine the culture which is helpful in defining the buying behaviour.
So, MK deeply studies the culture prevalent in the society which can persuade customers to
buy bags (Clemons, et al. 2016).
Social class: The societies usually have certain social classes which exist within. Before
selling products and services to the customers in the society, MK first discovered the class to