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    BUS 5112 Discussion Assignment Unit 2

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    Raju Sobhan
    This document discusses factors that influence consumer behavior in making purchase decisions. It explains that personal demographic factors like age, income, gender, and lifestyle influence consumer decisions and shape unique purchase behaviors. Additionally, internal psychological factors can motivate consumers by addressing their specific needs and wants. Marketers can develop effective strategies by understanding how these internal and external factors interact to drive consumer decisions for specific products or services.

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    BUS 5112 Discussion Assignment Unit 2

    Uploaded by

    Raju Sobhan
    174 views2 pages
    This document discusses factors that influence consumer behavior in making purchase decisions. It explains that personal demographic factors like age, income, gender, and lifestyle influence consumer decisions and shape unique purchase behaviors. Additionally, internal psychological factors can motivate consumers by addressing their specific needs and wants. Marketers can develop effective strategies by understanding how these internal and external factors interact to drive consumer decisions for specific products or services.

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    BUS 5112 Discussion Assignment Unit 2

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    This document discusses factors that influence consumer behavior in making purchase decisions. It explains that personal demographic factors like age, income, gender, and lifestyle influence consumer decisions and shape unique purchase behaviors. Additionally, internal psychological factors can motivate consumers by addressing their specific needs and wants. Marketers can develop effective strategies by understanding how these internal and external factors interact to drive consumer decisions for specific products or services.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    174 views2 pages

    BUS 5112 Discussion Assignment Unit 2

    Uploaded by

    Raju Sobhan
    This document discusses factors that influence consumer behavior in making purchase decisions. It explains that personal demographic factors like age, income, gender, and lifestyle influence consumer decisions and shape unique purchase behaviors. Additionally, internal psychological factors can motivate consumers by addressing their specific needs and wants. Marketers can develop effective strategies by understanding how these internal and external factors interact to drive consumer decisions for specific products or services.

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    of 2

    Discussion Assignment Unit 2

    Consumer Behavior
    BUS 5112
    Marketing Management
    University of the People
    15 Sep 2021
    Instructor: Dr. Jessica Talia

    The word marketing is basically known by everyone and each individual sees its meaning
    through different lenses. Marketing as a function which creates the need for strategy and
    planning in a company didn't born from an early stage like business itself. Gradually, marketing
    have grown, adjusted to reflect the current era of business. From a light definition, we can say
    that marketing is a process to engage a consumer or potential customer in exchanging process
    as the product exchanged have value and meet the the customer's need or want. Stanton (1981)
    in his book of fundamentals of Marketing recalled a statement made by Adam Smith and other
    philosophers. “The fundamental importance of consumption, it is the social and economic
    justification for production." (p.65). If we stick to that statement, what roles do personal or
    demographic factors play in consumer/customer decision to purchase a product or service, and
    how do these factors influence consumer behavior? As obvious as it can be, competition to
    attract customer's and maintain their loyalty is a complex strategy that all companies struggle to
    maintain and hold a solid foot on the any business industry. As time passes, the interaction
    between companies and consumers have shifted by giving power to the consumer. The
    University of Minnesota (2010) explained that consumers don't consume what the company
    thinks to be capable to satisfy their need and want, the consumer's power make an add-ons to
    the offering process which is value. At this trend. Consumers are not only influenced to purchase
    a product or service to satisfy a need or want, but also to find the value they are seeking for
    ultimate satisfaction.
    All of these purchases and decisions made by the consumer come from, Marshall & Johnson
    (2015) Internal and external factors. The internal factors has for element the personal
    characteristics of the buyer such as age, education, income, lifestyle, gender and others. When
    all of these aspects are combined, it will develop a purchase behavior which is unique to yourself
    and which need to be analyzed by companies to understand the parameters involved and how a
    company can use these information to reinforce their Marketing Strategy and to remain
    competitive in a world where technology is fast tracking on a daily basis. Now we know that a
    personal factor or the demography the consumer belongs will likely direct the consumer to
    make a specific purchase decision, it is important find the spark that brought the factors
    together for a specific purchase behavior. In everyone and almost minute by minute, we as
    humans have needs and wants of all kind. The one that will be selected and act upon, are those
    that have been strong enough to motivate the consumer. Marshall & Johnson (2015) argue that
    the personal factors alone won't create a purchase behavior from the consumer. There should
    be a psychological burst that will guide the consumer to purchase a product or service within
    the limits of his or her personal factor, demographic factor and if we want to go further we can
    include the external factors. When the motivation has its grip on the consumer and the factors
    necessary are identified, we discover the consumer behavior. Companies can use these
    situations to influence a consumer behavior toward their product or service with strong
    Marketing Strategy, planning and implementation.

    References:
    Marshall, G., W., & Johnson, M., W. (2015). Marketing Management. 2nd Ed. McGraw Hill
    Education. ISBN 978-0-07-802886-1 The University of Minnesota. (2010). Principles of
    Marketing. Licensed under Creative Commons Attribution- Non-commercial- Share Alike 4.0
    Stanton, W., J. (1981). Fundamentals of Marketing. 6th Ed. McGraw Hill Series in Marketing. ISBN
    0-07-060891-1

    Best regards

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