BUS5112 Discussion unit 2

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Ashworth College *

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5112

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Marketing

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Nov 24, 2024

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The roles of personal or demographic factors in consumer decision to purchase product or service and how these factors influence consumer behavior. People are different, and those differences play out in every aspect of their lives, including purchasing decisions. Simply put - people want, and will buy, different things. Solomon (2009, p. 33) defines consumer behavior as “...the study of the process involved when individuals or groups select, purchase, use or dispose of products, services, ideas or experiences to satisfy needs and desires.” Most people define a "consumer," as someone who purchases goods and services, however, as the definition above makes clear, there is more to it – consumer purchasing decisions are influenced by demographic factors. Lucia & Miroslav (2013) states “demographic characteristics play an essential role in understanding and forecasting customer behavior, and marketers must investigate them in order to turn demographic difficulties into opportunities. I will look at the demographic and personal aspects that affect consumer behavior in this essay. Age : Pratap (2017) concluded that people's demands evolve as they grow, including their health and purchasing requirements. While older people are more interested in real estate, insurance policies, and staying inside, younger people are more interested in entertainment, such as movies, games, and dating. Some items are primarily targeted towards the youth/millennial generation, while others are targeted at the elderly (Pratap, 2019). Young males may be influenced to purchase sports paraphernalia. Age does not only affect buying behavior, but also market segmentation. For example, Cheerios may be preferred by children while adults may rather cornflakes.

Gender : When it comes to shopping habits, demands, expectations, disappointment, word-of- mouth marketing, and other factors, men and women are very different from one another. Males, for example, are less likely than females to complain if they are dissatisfied with a product (Lucia & Miroslav, 2013). Additionally, different advertisements appeal to different genders. For instance, a male will be drawn to an advertisement for beer, while a female will be drawn to one for lipstick. Occupation : A person's purchases can also depend on the type, nature, and class of employment he or she does. University students may be likely to purchase casual clothing, but bank employees are more likely to purchase business or formal attire. Income : Different consumer behaviors and buying patterns are the outcome of varying income levels. How much money a person has to spend on particular items depends on his disposable income. For example, a person with a higher income can buy a more expensive car than someone with a lower income who cannot afford it. In some instances, income may not play as great a factor. An individual may still buy expensive items even though he or she has a low income. In such instances, other factors such as personality may influence the purchasing decision. Personality : Personality affects consumers’ purchasing decisions. A fashionista might spend her entire income on designer clothes and purses, but a gamer would much rather spend it on different kinds of or the latest games. However, personality can be quite the ‘toss up’. For instance, a person with high extraversion may not always be able to afford to make large purchases despite

being adventurous, open to new experiences, and financially secure. Furthermore, even with greater purchasing power, a person who was raised in a household experiencing financial instability may still choose to be cautious and conservative with their purchases even after they have achieved a state of financial freedom. On the contrary, many people who grew up poor may become massive spenders later on when their financial position changes. Conclusion In conclusion, demographic factors influence consumers' purchasing decisions significantly, both internally and externally, and have the potential to cause deviations from their typical patterns. Consequently, marketers want a thorough knowledge of customers in order to comprehend the market, their behavior, and their demands (Lucia & Miroslav, 2013). Demographic factors are important for the market to assist in deciding the type of products they are to sell, the targeted market and market strategy. References “Consumer Behavior.” Market Business News , 25 Mar. 2020, marketbusinessnews.com/financialglossary/consumer-behavior/. Accessed 24 Nov. 2023. Niosi, Andrea. “Introduction to Consumer Behaviour.” Pressbooks.pub , Pressbooks, 2019, kpu.pressbooks.pub/introconsumerbehaviour/. Pratap, Abhijeet . “Effect of Demographic Factors on Consumer Behavior: Age, Sex, Income and Education - CH Blog.” Cheshnotes.com , 19 July 2017, cheshnotes.com/effect-of-demographic- factors-on-consumer-behavior-age-sex-income-and-education/. Tintin, R. “4 Major Factors That Influence Consumer Buyer Bahaviour - SuperProfesseur.com : Spécialiste Des Cours de Marketing, Soutien Scolaire, Coaching,Cours En Ligne,Grand Oral,

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SES, STMG,Formation Professionnelle.” Www.superprofesseur.com , 2013, www.superprofesseur.com/19.html. Accessed 24 Nov. 2023. Vilčeková , Lucia , and Miroslav Sabo . The Influence of Demographic Factors on Attitudes toward Brands and Brand Buying Behavior of Slovak Consumers. International Journal of Education and Research Vol. 1 No. 11 . Nov. 2013.

BUS5112 Discussion unit 2

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