Monday, April 12, 2010

Effects of Personal Factors on Consumer Buying Decisions

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Factors on Consumer Buying DecisionsPersonal factors consist of:

a) Age: Consumers buy different products according to age group. Their taste in food, clothes, and recreation is age-related. Young consumers like to experiment new products. Older consumers prefer brand loyalty.

b) Gender: Male and female exhibit differences in buying behavior. Their needs also vary.

c) Family size and family life cycle: Family size determines the level of expenditure and product choice. Buying decisions in larger families favour brand loyalty.

The family life cycle influences spending patterns. Product interests differ according to the stage in family life cycle consisting of singles, bachelors, married, married with children and old.

d) Occupation: Occupation influences consumption pattern. Factory worker buy work clothes. Bank managers buy expensive suits. Professional people dress properly.

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