FACTORS INFLUENCING CONSUMER BEHAVIOR

Culture is the fundamental determinant of a persons wants and behaviors acquired through socialization processes with family and other key institutions.Subcultures: - Nationalities Religions Racial groups Geographic regionsSocial Classes : - Social class conveys perceptions of inferior or superior position Upper uppers Lower uppers Upper middles

Personal Factors: - Age Life cycle stage Occupation Wealth

KEY PSYCHOLOGICAL PROCESSES

Maslows Hierarchy of NeedsBehavior is driven by lowest, unmet need

PERCEPTIONSelective attention act of focusing on a particular object for a period of time,Selective retention the process when people more accurately remember messages that are closer to their interests, values and beliefs, than those that are in contrast with their values and beliefs,Selective distortion Tendency of people to interpret information in a way that will support what they already believe.Subliminal perception Supposed to occur when a stimulus istoo weak to be perceivedyet a person is influenced by it.

CONSUMER BUYING PROCESS