Essay Sample on Consumer Behavior Theory Influence on Personal Consumer Behavior

Introduction

The consumer behavior theories summarize how customers act before and after making a purchase. The consumer behavior metrics are also used by marketers from different organizations to understand how their clients conduct themselves before they purchase their products. Consumer behavior information enables marketers to design commodities that have a high probability of satisfying the needs of customers. Marketers regard customers highly and consider them an important factor in the success of an organization, justifying the need to study how clients behave, which then makes it easy for prediction of consumer behavior in the future. Consumers have the resources and depending on their economic position, they decide the amount of money they will spend on an item, depending on the urgency of the need and value attached to the commodity. Theories in consumer behavior assume that clients make purchasing decisions based on four main factors, namely, cultural, psychological, personal, and social factors. The consumer behavior theories influenced any purchase decisions I made in the past.

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The psychological factor in consumer behavior theory influenced my decision to purchase the LG-TV. Psychological factors that influence consumer behavior include motivation, beliefs and attitudes, perceptions, experiences, and learning. Perception towards products and services in the market affect the purchase decision since they influence the view a client has towards commodities from a company. For instance, I perceived products from the LG Company to be of high quality and resolution. I believe that the television I bought will serve me for a long-time and it will have no mechanical or technical issues for the duration I will use it as a form of entertainment. I also took advantage of the end of year promotions that the LG Company had advertised to the members of the public that it would lower its prices on electronics and other commodities. I assumed that purchasing a television at this time would help save some resources. My attitude and belief towards the Oasis-Hair Wax to be the best hair product in the market has made my purchase the product from the Shopee Official Website over the years. I have developed brand loyalty to the Oasis-Hair wax as I believe that it is the only product that can help keep my hair tidy, neat, and presentable.

Social factors like family, reference groups, and the status and role affected the purchase decisions I made when acquiring products and services from different providers. For instance, members of a family that have a pleasant experience with a product or service are more likely to recommend it to another person directly. The need and desire to belong motivates consumers to rely on both positive and negative information about commodities from their reference groups. Reference groups include friends, political parties, religious groups, or sports teams. Reference groups influence the attitudes, perceptions and beliefs that an individual has towards life. For instance, when I purchased a Marc Jacobs handbag for my girlfriend, I relied on my mother's assurance that products from the company are of high quality. My mother stated that she had owned a few handbags from the designer and they had served her for a long-time. The fact that handbags from Marc Jacobs are trendy and allow the owner to make a fashion statement would provide more satisfaction for my girlfriend both in the short-term and in the long-term. A brand-conscious consumer will invest in designer products that cost large amounts of money. The belief that expensive products are of high quality guides the buyers. Designer companies capitalize on the customer behavior tendency by ensuring their products are expensively priced and offer little or no bargains.

Personal factors affected my personal consumer behavior in that my economic status, personality, age, occupation, and lifestyle influenced the decisions I made before I purchased all items. Every item in the market can only be acquired by a consumer through money, and individuals with more incomes and higher percentages of their salaries allocated to spending are more likely to acquire products with ease. The economic status affects the purchase and bargaining power of consumers. For instance, my decision to acquire branded and internationally recognized items is highly motivated by my economic situation. I bought a MacBook Pro and iPhone from the Apple Company since I believe they are the best in the market and because I can comfortably afford them. My economic status also allowed me to travel by air, by purchasing a ticket from Thai Airways, an airline that some people would consider too expensive for them. My lifestyle has always been characterized by my preference for better quality products. I am willing and able to spend large amounts of money on products that I deem important in my life. For instance, acquiring new running shoes from Nike and a wallet from Gucci is directly related to my love for keeping fit and exercising and keeping my money in a safe place. I come from a middle-income class which necessitates me to maintain a specific type of lifestyle as I keep up with trends that people in my social circle lead.

Reflection on Personal Consumer Behavior

A reflection on the purchases I have made over the past few months' reveals that I am a high involvement client. This behavior pushes me to search for knowledge and information about a particular product before I make the purchase decision since I desire to get it right the first time I acquire an item. I believe that expensive items are of high value, which means that I do not mind parting with a large amount of money as long as am assured of quality and service from a product. For instance, my attitude towards products from Apple Inc. have made me a loyal customer over the years making me identify with commodities from the company as the best. I also believe that Marlboro cigarettes are the best in the market as I perceive that they have a good filter despite their inexpensive pricing.

I am a consumer that believes that as long as I am paying for something, I should get the best quality items. I believe branded items are better in the market compared to those that have no name. My assumption is that manufacturers and producers spend a significant amount of time and resources ensuring that only the best quality reaches their market. Hence, I am assured that branded items give me value for my money. I rarely consider the price of items before I purchase them as I look for specific brands in the market. Psychological sub-factors of beliefs, attitudes, and perceptions affect my consumer behavior. Positive attitudes towards particular items have often limited me from experimenting with other commodities in the market despite lower prices or attempts from salespersons in outlets. For instance, when I went to get a new pair of gloves from FootJoy, I was aware of what I needed before logging into the website, and all the sales assistant personnel needed to do was to direct me on the variety of colors available as opposed to convincing me on the other lower priced gloves in the store.

Conclusion

People around me have a high influence in the products I purchase as I consider their opinions important before making a decision. Close friends and family influence the purchase decisions. For instance, when going out with friends for a drink, I consider their experience in particular restaurants or bars important. Escobar is one of the places that my friends and I frequent, and it is famous among college and university students for stocking good beverages at reasonable prices affordable to learners. My mother and girlfriend directly influence the items I get for personal use. For instance, I bought clothes from Zara, a clothesline store that stocks trendy and durable items after some members of my family and my girlfriend convinced me that I would get the best products from the outlet. Social ties affect the purchase decisions of both major and minor items since consumers are human beings that belong to different social circles.

Bibliography

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