• Skip to main content
  • Skip to primary sidebar
  • Accounting
  • Banking
  • Business
  • Statistics
  • Economics
  • Finance
  • HR
  • Law
  • Marketing
business-jargons-site-logo

Business Jargons

A Business Encyclopedia

Psychological Factors Influencing Consumer Behavior

Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. Some of the important Psychological Factors are:

Psychological Factors of consumer behavior

  • Motivation: The level of motivation influences the buying behavior of the consumers. It is very well explained by Maslow through his need hierarchy theory comprising of basic needs, security needs, social needs, esteem needs and self-actualization needs. Usually, the basic needs and the security needs are more pressing needs than the other and hence, these needs become a motive that directs the consumer behavior to seek satisfaction.
  • Perception: The consumer perception towards a particular product and the brand also influences his buying decision. The perception is the process through which the individual selects, organize and interpret the information to draw a meaningful conclusion. Such as, Apple iPhone is perceived as a premium brand and consumers are motivated to buy it to get associated with the elite class of the society.

    The marketers lay emphasis on managing the perceptual processes, Viz. Selective Attention, Selective Distortion, and Selective Retention. In selective attention, the marketer tries to gain the attention of the customer towards his offerings. Different people have different perceptions about the same product depending on their individual beliefs and attitudes which give rise to selective distortion. Thus, the marketer should try to understand the attitudes and beliefs of individuals and design the marketing campaigns to retain the consumers.

  • Learning: The individual’s learning depends on the skills, knowledge and intention. The skills are developed through practice while the knowledge and intention are acquired with the experience. There could be a conditional learning or a cognitive learning.

    In the conditional learning, the consumer derives learning from being conditioned to particular stimuli, i.e. when he is exposed to the similar situation, again and again, he develops a particular response towards it. While in the cognitive learning the individual applies all his knowledge, skill, attitudes, values and beliefs to find the solution of a problem and derive satisfaction out of it.

  • Attitudes and Beliefs: The individuals have certain beliefs and attitudes towards products on which their purchase decisions rests. These attitudes and beliefs are the tendency to respond to a given product in a particular way, and these make up the brand image that influences the consumer buying behavior. Thus, the marketers try to understand the attitudes and beliefs of the individuals and modify these through several marketing campaigns.

Thus, these are some of the psychological factors that the marketer must take into the consideration before undertaking the strategic marketing decision.

Related terms:

  1. Factors Influencing Consumer Behavior
  2. Social Factors Influencing Consumer Behavior
  3. Cultural Factors Influencing Consumer Behavior
  4. Personal Factors Influencing Consumer Behavior
  5. Economic Factors Influencing Consumer Behavior

Reader Interactions

Comments

  1. Lee Chai En says

    November 28, 2017 at 8:52 am

    Thanks you

    Reply
  2. Peter Morris says

    July 29, 2018 at 3:45 pm

    nice post. Psychological factors are really important.

    Reply
  3. Shruti M says

    March 5, 2020 at 8:24 pm

    Thank You for writing this article. The above information is explained precisely in a simple manner.

    Reply
  4. Surjit Victor says

    August 1, 2020 at 4:53 pm

    what is the name of the researcher

    Reply
  5. Iphithule M Sibanda says

    November 10, 2020 at 10:28 am

    Thank you very much

    Reply
  6. Gopi patel says

    December 21, 2020 at 2:13 pm

    • I have been wondering about this topic of late and was thinking of searching the internet to increase my knowledge. Thank God that I visited your website otherwise I wouldn’t have come across such a nicely-written article. Once I liked this particular post, I was going through few other posts as well. I simply loved them! Kudos to the writers who work hard to write these.

    Reply
  7. Martha says

    June 20, 2021 at 1:55 am

    As a student I found this article very helpful, I have an Assignment due soon and I would like to reference my work because plagiarism is a serious crime at a university level.
    Please provide full details of who wrote the article so students like me can cite this
    And once students like me need articles like these which are very easy to understand and Thank you 🙏 please write more articles on different topics to help more students ❤️

    Reply
  8. Geoffrey Msakwa says

    January 16, 2023 at 2:06 pm

    Thank you for writing this article

    Reply
  9. Lucky Endurance says

    January 17, 2023 at 8:55 pm

    Thanks alot i loved the way the article was explained

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Top Searches

  • Communication Process
  • Planning
  • 7 C’s of Communication
  • Management
  • International Marketing
  • Business Strategy
  • Effective Communication
  • Insurance
  • Strategic Management
  • Selection Process

Trending Now

  • Group
  • Business
  • Accounting
  • Budget
  • Entrepreneurship
  • Journal
  • Leadership
  • Motivation
  • Communication
  • Stress

New Business Terms

  • Unique Selling Proposition (USP)
  • Bandwagon Effect
  • Bullwhip Effect
  • Crowdsourcing
  • Advertising Campaign Planning
  • Advertising Campaign
  • Consumer Cooperatives
  • Competency Mapping
  • Cluster Sampling
  • Integrated Marketing Communication (IMC)

Categories

  • Accounting
  • Banking
  • Business
  • Business Law
  • Business Statistics
  • Economics
  • Finance
  • HR
  • Marketing

Copyright © 2023 · Business Jargons · Contact Us · About Us · Privacy