Chapter 3: Consumer Behavior
Personal Factors in Consumer Behavior
Personal factors are unique to each individual and include characteristics such as age, occupation, lifestyle, economic situation, and personality. These factors play a significant role in shaping consumer behavior because they directly influence an individual's preferences and purchasing decisions.
Age and Life Stage
Age is a critical factor in determining consumer behavior. Different age groups have distinct needs and preferences. For example, teenagers might be interested in trendy clothing and the latest gadgets, while older adults might prioritize comfort and practicality in their purchases.
Example: Pepsi’s Marketing to Youth
PepsiCo often targets younger audiences with its marketing campaigns. By using vibrant and energetic advertisements featuring young celebrities and popular music, Pepsi appeals to the lifestyle and preferences of teenagers and young adults. This strategy helps Pepsi maintain its popularity among younger consumers.
Occupation and Economic Situation
A person's job and financial situation significantly impact their buying behavior. People with higher incomes have more purchasing power and might opt for luxury items, while those with lower incomes may focus on essential and affordable products.
Example: Target's Diverse Product Range
Target offers a wide range of products catering to different income levels. For instance, they provide both budget-friendly options and premium brands in categories like clothing, electronics, and home goods. This strategy ensures that Target appeals to a broad audience, regardless of their economic situation.
Lifestyle
Lifestyle refers to a person's interests, activities, and opinions. It reflects how individuals spend their time and money. Marketers often segment their audience based on lifestyle to create more personalized marketing campaigns.
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Example: GoPro and the Adventure Lifestyle
GoPro, a company known for its action cameras, targets consumers who lead active and adventurous lifestyles. Their marketing often features thrilling activities like surfing, skiing, and mountain biking. This resonates with outdoor enthusiasts and extreme sports fans, making GoPro the go-to brand for capturing adventure moments.
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Personality and Self-Concept
Personality traits and self-concept (how people perceive themselves) also influence buying behavior. Some consumers might prefer brands that align with their personality or enhance their self-image.
Example: Harley-Davidson and the Rebel Persona
Harley-Davidson motorcycles are often marketed as symbols of freedom and rebellion. This appeals to consumers who see themselves as independent and adventurous. By associating their brand with these traits, Harley-Davidson attracts a loyal customer base that identifies with this persona.
Psychological Factors
Psychological factors include motivation, perception, learning, beliefs, and attitudes. These internal processes influence how consumers perceive products and make decisions.
Example: Lush's Ethical Branding
Lush, a cosmetics company, focuses on ethical practices such as using natural ingredients and fighting against animal testing. These practices align with the values of consumers who are motivated by ethical consumption. As a result, Lush attracts customers who believe in supporting sustainable and humane practices.
