University Consumer Behavior Report: Factors Influencing Decisions

This report provides an overview of consumer behavior, examining the ways in which individuals, groups, and organizations select, buy, use, and dispose of goods, ideas, and services to satisfy their needs and wants. The report explores the consumer decision-making process, highlighting the influence of pre-purchase, purchase, and post-purchase activities. It further investigates key factors that shape consumer behavior, including economic factors (affordability), functional factors (suitability), personal factors (occupation, age, lifestyle), psychological factors (motivation, learning, attitudes, and beliefs), social factors (family, status, and reference groups), and cultural factors (the broader cultural and social environment). The report emphasizes the importance of understanding consumer behavior for marketers, as it informs strategies related to product development, marketing campaigns, and consumer satisfaction.

Running head: CONSUMER BEHAVIOR
Consumer Behavior
Name of the Student:
Name of the University:
Author Note:

1CONSUMER BEHAVIOR
Executive Summary:
The report aims at providing a literature review on consumer behavior. The report commences
with the general overview of consumer behavior. It also focuses on the factors influencing the
consumer decision making.

2CONSUMER BEHAVIOR
Table of Contents
Literature Review on Consumer Behavior:.....................................................................................3
Key Factors Influencing Consumer Decision Making:...................................................................3
References:......................................................................................................................................4

3CONSUMER BEHAVIOR
Literature Review on Consumer Behavior:
Consumer behavior refers to the study of the way in which the individual customers,
groups or the organizations selects, buys, uses, disposes goods , ideas and services for satisfying
the wants and the needs (Solomon et al. 2014). It indicates the action undertaken by the
consumer within marketplace and the underlying motives of the actions. In other words, it can be
said that consumer behavior remains concerned with all the aspects of the purchasing behavior
which includes moves from pre purchase actives to the post purchase activities related to
disposal, evaluation and consumption.
It is however vital for the marketers in studying the consumer behavior since this informs
them about the consumers as groups or individuals, their purchase, disposed products or services
and their experience in satisfying the needs or wants.
Key Factors Influencing Consumer Decision Making:
These include (Farr‐Wharton, Foth and Choi 2014):
Economic Factor: It acts as the primary foundation of purchasing decision since people
cannot buy items which they cannot afford.
Functional Factor: This factor concerns totally about the needs backed by the logic of
what suits best in the consumer interest
Personal Factor: These factors represent the occupation, age, lifestyle, economic and
social status and also the gender of consumers.

4CONSUMER BEHAVIOR
Psychological Factor: In this case, the factor influencing consumer behavior is
motivation, learning, attitudes and beliefs.
Social Factors: Social factors includes the family, status and the reference groups
Cultural Factors: The complex cultural and social environment in which the
consumers stays influences the decision making process of consumers.

5CONSUMER BEHAVIOR
References:
Farr‐Wharton, G., Foth, M. and Choi, J.H.J., 2014. Identifying factors that promote consumer
behaviours causing expired domestic food waste. Journal of Consumer Behaviour, 13(6),
pp.393-402.
Solomon, M.R., Dahl, D.W., White, K., Zaichkowsky, J.L. and Polegato, R., 2014. Consumer
behavior: Buying, having, and being (Vol. 10). London: Pearson.