Essay Sample on The Dynamics and Impacts of Consumer Consumption

Introduction

Consumer behavior is a set of characteristic features that consumers display, or instead, put in place while seeking goods and services that can potentially satisfy their needs. These features stretch to cover the details that determine their processes of searching for goods, analysis as well as methods of purchasing the products (Yoganandan, & Pugazh, 2015). It, therefore, means that consumer behavior commands how consumers spend their resources such as time, money as well as efforts in matters relating to the purchase of goods and services. In this fashion, consumer behavior will inform an individual what to buy and why, where to buy it and how to buy it as well as the frequency of buying it. These habits have strong links to product evaluation. A typical scenario that usually happens is that a consumer will evaluate and analyze product A from business X. if the product satisfies his or her demands, there are high chances that the consumer will come back buying it even more and more frequently. The reverse is true.

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In a free market, both big and small business corporations operate in an environment inhabited by consumers bearing such traits. Even though they operate at different scales, these factors affect them at equal lengths. Consider large food chains business enterprises such as Tesco and small retail, fast food restaurants. In one way, the activities of these businesses shape consumer behavior, and the net effect of such phenomena affect them. For instance, large food chains like Tesco, unlike a small retail fast-food restaurant, have the financial muscle to market their services through the web successfully. While Tesco enjoys the benefits of large market catchment and specificity in targeting consumers, a small fast-food restaurant rivaling Tesco will depend on clients coming at their will and returning as they deem fit (Obi, 2018). This demonstrates how business activities and choices impact on consumer consumption. Apart from the mainstream factors affecting consumer behavior that affects small and large fast food business entities such as cultural, social, personal, consumer perception as well as psychological factors, other significant factors count. These are things to do with safety, and the time is taken in preparing the food item as well as the increasing consciousness of the connection between food and diet to health.

Cultural Factors

Culture

Cultural factors are attributes ingrained in an individual, and they play significant roles in understanding the needs of consumers (McGuffin, 2016). Typically, every market is characterized by large pool individuals from different cultures. As such, business organizations face diversity in their needs. For instance, Tesco branches operating in Welwyn Garden City, United Kingdom serve customers of different cultures. It, therefore, becomes obvious that these groups of individuals will consume foods of different origin, preparation as well as presentation. For instance, a businessperson visiting the United Kingdom for business errands will predominantly order Indian food. However, he or she may be tempted to try other delicacies.

The same case applies to Italians, Chinese, Japanese, and any other individual hailing from a place with a vibrant taste for food. The point erecting out of the role of cultural features is that in as much an individual attempts to explore what other cultures hold, they will stick to and embrace their cultures most of the times. As such, this becomes a challenge to the key players in hospitality. Fast food restaurants offering foods that accommodate various cultures carry the day, and the converse is true and severe.

Social Class

Social class is an extension of this subject, and it happens that everyone has a class. Naturally, no one will go out of his or her class when it comes to consumption. Along with this line, one's consumption is commanded by their occupation, level of education and lastly financial status (Yoganandan, & Pugazh, 2015). In simple terms, every individual considers where he or she fits and feels comfortable. From this trend, it is easy to deduce that people of a certain class, middle class, lower or upper class will inhabit and shop in particular places.

Social Factors

Together with the cultural factors, social attributes are collectively referred to as external factors affecting consumer behavior, and that should be given much attention in the marketing mix (Sokolowski, 2011). These factors are dependent on one's status and roles in society as well as family status or reference groups they are in association (McGuffin, 2016).

Status and Roles

In correspondence to the group, family or reference group that one is in the association, people's roles and status vary in every society (Yoganandan, & Pugazh, 2015). As such, individuals with similar roles and status will tend to hang out together and carry out their activities at particular spots. For instance, if it is horse racing or golf, an executive business officer will only join a club that matches his style where they meet and interact with individuals of their caliber. Therefore, if they choose Tesco as their favorite chill spot, that will be the place to transact most of their businesses.

Family

The family is a matter of great interest in consumer behavior because different families indicate varying trends and practices in their consumption. In some cases, patterns of consumption may be under the control of a particular member of the family (Yoganandan, & Pugazh, 2015). It could be the provider, spouse or offspring, and it happens when the individual happens to be the family representative, spokesperson or leader in decision-making in a matter of relationships (Howard et al., 2014). Such individuals may choose to stick to their traditional service providers that rival Tesco, Tesco will be in for a stiff competition due to the loyalty granted to its rivals. Again, the issue of family orientation and perception matters (Sokolowski, 2011). If a family is traditionally oriented towards shopping online, they stick to that trend. Still, if a family perceives Tesco's products as of low quality and questionable reputation, they will keep off at all costs. The net effect of this favors the business favored by such trends.

Reference Groups

These are groups with which an individual is affiliated. They can either be primary or secondary. While primary groups is a composition of friends, family, and co-workers with whom individuals relate with casually, secondary groups, that include trade unions, an association of professionals and religious gatherings, are those that individuals relate with officially (Sokolowski, 2011). These groups determine and shape the attitudes and consumption patterns of individuals. For instance, if an individual hangs around friends who consume goods and services in a defined pattern, he or she will be compelled to do the same to blend in. The same case applies to the case of secondary groups. It becomes evident in matters of association such as trade, professional and religious unions; there is a defined pattern of doing things. As such, an individual will have to shelve his or her regular consumption patterns. Narrowing down, groups such as the family may influence consumption pattern of individuals. Consider a scenario where a young couple gets a bouncing baby. The net effect of this phenomenon introduces a new consumption pattern in which baby foods, as well as other newborn particulars, come to light.

Psychological Factors

The most influential psychological factors influencing consumer behavior include motivation, perception, learning, beliefs as well as attitudes (Yoganandan, & Pugazh, 2015). The ball played by marketers here must have enough convincing power to drive consumers down the sale's funnel of a business.

Motivation

Consumers are motivated by psychological, social and biological needs towards purchasing particular goods and services (Yoganandan, & Pugazh, 2015). In most cases, there is a disparity in the needs triggered by these factors, and this phenomenon means that various businesses will benefit equally, but at unequal lengths. For instance, an individual will visit Tesco during mealtime, or rather, when he or she feels famished. However, Tesco will not be the venue of choice when that particular individual intends to go out for social activities. Again, individuals may feel safe eating at Tesco as opposed to other food courts and joints. This is yet another motivation that will attract more clients to the food restaurant.

Perception

In perception, the selection, organization, and subsequent information interpretation is a recipe for meaningful experiences for consumers (Yoganandan, & Pugazh, 2015). Typically, there are different perceptual dimensions and trends in man because of the massive diversity, and this implies that different individuals will perceive different goods and services differently. For instance, while others will perceive goods services rendered in small fast-food joints to be of inferior quality, others will embrace them. This phenomenon extends to influence the decisions made by individuals (Lantos, 2015). In other cases, some individuals will only get some particular services in specific places. For instance, there are those motorists who trust mechanical repair personnel at mega petrol stations. As such, the will not replace their damaged wheels in any garage at the local car repair garages. This makes repair services lucrative business mega petrol stations, and this triggers a scramble and competition for repair centers at petrol stations between large and small motor vehicle repair businesses. This is because such places offer large markets.

Beliefs

When purchasing goods or services, consumers will never cease basing their judgments on their beliefs (O'Shaughnessy, 2012). For instance, if a consumer believes that Tesco offers the best juice that helps them rejuvenate their gastrointestinal tract and detoxify their body, they will warm up to the restaurant. Again, if they believe that Tesco cooks take their time in preparing their food, and with utmost caution and interest of the consumers, there is no way through which such clients will leave the restaurant. Such phenomena enhance the growth of large fast-food restaurants while grounding small outlets that have not established themselves and created a brand that sells. Lastly, some consumers value particular products, and if a business organization offers such a service, they will live to be long-term partners. The net effect of this scenario is "buying without deciding" (O'Shaughnessy, 2012). As such, the business in questions earns a pool of loyal clients. The net effect of this is expansion and profitability that cut across businesses, whether small or large.

Personal Factors

The last set of factor affecting consumer behavior touches on occupation, economic status, age, gender, personality, self-concept as well as a lifestyle as they apply at the individual level (Yoganandan, & Pugazh, 2015). These factors affect consumer behavior from different angles as illustrated below.

Occupation

One's occupation is a feature that profiles individuals into various status in society, and it is also a fundamental tool used in market segmentation (Majumdar, 2010). Regardless of whatever it is, occupation shapes customer behavior, and in most cases, one would only buy items relating to his or her line of career. For instance, a computer guru will buy electronic and computer accessories that enables him or her perfect his or her career. Another way through which this happens is that individuals with certain lines of occupations are more likely to meet in conferences and workshops in designated venues. This bri...