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MARKETING.

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Added on  2019-10-30

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Running head: MARKETINGMarketingName of studentName of UniversityAuthor noteContents
MARKETING._1
1MARKETINGIntroduction........................................................................................................................3Key factors that influence the consumer behaviour..........................................................3Ways by which companies utilize research in this area for their own marketingstrategies...........................................................................................................................4Conclusion.........................................................................................................................5References.........................................................................................................................6
MARKETING._2
2MARKETINGIntroductionThe essay demonstrates the essentiality of influencing the buying behaviour,which can allow the companies to generate more sales revenue and gain a competitiveadvantage in business as well. The major factors that are responsible for influencing thebehaviours of consumers and how the business organisations utilise the researchactivities for their marketing strategies have been illustrated here as well (Baker, 2014). Key factors that influence the consumer behaviourThe consumers' behaviors are influenced by four major factors such aspsychological factors that include motivation, perception of customers regarding aparticular brand product, management of values and beliefs, etc., personal factors likeage, occupation, lifestyle, personality, social factors including roles and status ofindividuals and lastly the cultural factors that include the culture, social class systems,etc. The social class structures create an impact on the norms, values and beliefs andallow people to make a decision while purchasing a product (Ferrell & Hartline, 2012).One of the theories that resulted in influencing the social class is the trickledown effectwhere the people present in the lower social classes embrace the behaviours ofconsumers in the upper class. The consumers present in the lower class often lackproper knowledge and expertise to make decisions, and in such cases too, the upperclass plays a major role in influencing their behaviours (Hair Jr & Lukas, 2014). Another important factor that influences the consumer behaviour is the income ofindividuals. The individuals who earn more have better flexibility to make judgmentswhile purchasing. The blue-collared consumers have higher incomes than the whitecollared consumers, and thus they have higher social status, which also impacts theirbehaviours during the purchase of a products or service. Occupation of individuals isresponsible for income generation along with the proper knowledge that can be gainedwith the help of education level (Hollensen, 2015). Education level helps individuals toobtain information about the things that they are going to purchase, so it is essential forinfluencing their behaviours, potential of income and patterns of spending. The other
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