Family Culture, Trends & Technology - Essay Sample

Laptop Industry

Macro factors infer to the general market factors that influence the business operation within this market (Rani, 2014). Significant factors influencing it include the market trends, social norms, and nature of social existence. The laptop industry has both direct and indirect factors that tend to impact the purchasing power of the consumer. These factors also tend to influence brand of laptop that one chooses to purchase. These factors also tend to change customer expectation in the market, and this mostly tends to alter consumer satisfaction. In the laptop industry, the consumer is likely to be influenced in three main ways. The consumer may opt to purchase a product from a specific organization, not necessarily based on the quality and the necessity of the product but through the influence of other factors. Such factors include advertisement, quality of the product, among others. Secondly, some factors affect the consumer through the purchase process. Such factors include the accessibility of the product, for example, through various online marketing agencies, the distance between the location of the retail shop and the consumer. Finally, there is the after purchase factors, and these include the after services given by the retail shop, the satisfaction brought about by owning the product, warranty, among others. Having more satisfying post-parches services is one of the ways of the retail organisation to keep more customers and win new ones.

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Family Culture

The culture of an individual family affects the taste and preference in their purchase of particular goods and services. Fennies et al. (2011) argue that a single family's decision to purchase a specific product is affected by the nature of the entire family's feelings toward purchase. For example, a family could have a culture that everyone above 16 years should have a laptop while the others would choose that one laptop is adequate for everyone, hence, there is no need for everyone to have an individual laptop. In such a case, the family with culture of individual ownership will purchase laptops as far the total number of family members hence buy more laptops. On the other hand, the family with the culture that individual laptop is enough for the family will purchase one and make it accessible to everyone. Therefore, a community with families that have such a culture will buy less products. Additionally, family culture could be based on the brand of the product. Families may prefer a certain brand of products therefore affecting an individual member purchase from a certain company. Figure 1shows the percent of families who own at least one laptop since the beginning of the twenty-first century.

Trends and technological evolution The trends influence the change in the social normality of a specific community (Watson et al 2015). The millennial generation has brought the development of a new social norm and culture that is more dependent on technology. Technology consumption is directly associated with economic evolution such that countries that are more evolved tend to use technology more while the developing nations have lower dependent on technology(Kruss et al. 2015). Therefore, technology and economic growth have a cyclical relationship that economic evolution encourages technological advancement, and advanced technology contributes to economic growth. Therefore, countries that are economically developed tend to use more technology, and the laptop is one of the critical gadgets of accessing it. Financial capability and living standards of the people also have a strong influence on laptop ownership. Figure 2 shows countries with most personal computers per capita

References groups In some instances, the decision made by customers about buying products are not made solely by or influenced by the features of the product. Mostly, one is urged to buy a product due to experience, opinions, and references given by other people who are influential in their lives. People who can influence others on decision making toward the purchase of a particular product are referred to as the reference groups. Hayakawa, & Venieris 2016) According to the study done by Peter (2017), 70% of the millennial consumers are influenced by people of the same age, gender or celebrities toward the purchase of a product. Generally, these people have a strong opinion on the products that inspire others to acquire it (Carrington et al., 2010). Naturally, a human is a social being with the ability to communicate and be influenced psychologically. Hence, the psychological influence act as a significant impact on the purchase of a specific product available in the market. The reference groups are mainly age mates and people that one associates with.

Consumer Tribes

These are groups of people who are not necessarily demographically situated at the same place, but they have similar buying patterns, tastes in the purchase, and behaviour of consumers. Traditionally, these tribes were grouped in respect to age, gender, location, and background; however, this is not the case in the twenty first century, they are arranged in respect to how they behave commonly and the interests of individual groups. Therefore, though modern consumer tribes comes from different geographical locations and do not have a similar background there purchasing paten unit them. An example of consumer tribes include the people with a taste of designer products. Such a group will always go for the most recent design despite their location in a given place. Such practices of behaviour in consumption are referred to as totems, and people under the same emblem can impact the buying patens of individuals of the same groups.

The modern consumer tribes can easily associate through the social media and influence others purchase decision toward the purchase of goods. Since their mode of consumption helps them in their quest to express identity they will purchase similar brand as a mean to express their relationship to their group. For examples, Mark book users may not necessarily purchase the laptop because it has superior services but because they want to associate with the "classy" and elite group on the social media. Generally, a group support a specific brand and they are more focused on the brand other than the quality of products from it. In UK 58% of consumers is choice toward purchase is individual decision while 20% is the group influence toward a specific brand (Martin 2019). Therefore, the consumer tribe plays a significant role toward the purchase of a specific product in the market.

Micro-influencers are the factors that are within the customer periphery and are likely to influence their decision on the purchase of goods and services. Compered to macro-influencers, micro-influencers are more persuasive since they directly relate to the consumer and are within the personal consumer sphere of investment (Hauser, 2017). A survey done by the Keller Fay Group found out that micro-influencers mainly constrain 82% of consumers on their initial plan on the purchase of a particular type of product or specific goods and services from the producer (David, 2016). A study done by Rani (2014) shows that if an organisation has a clear picture of the micro-influencers of the consumer and takes a chance to exploit them, then there is a high likelihood of getting consumer loyalty.

However, an organisation cannot understand the consumer situation; hence, it is almost impossible to exploit the consumer's micro-influencers. These factors can be classified into two, the psychological influencers and personal influencers. Personal factors affecting the purchase of any product include the age and gender, income, education, lifestyle, personality, and profession. On the other hand, psychological factors include motivation, attitudes, and beliefs, learning, perception, among others. The combination of these factors has a significant influence on the customer's behaviour toward a specific industry; hence, controlling the direction of their purchasing pattern. These factors are further elaborated below.

Occupation

Occupation is one of the key influencers toward the consumer decision in the purchase of specific good in the market. In the laptop industry, it influences the consumer in two main ways, necessity and income. Some occupation makes a laptop a necessity to the consumer; therefore, one has no other option but buying one. For example, an individual working as an IT expert will need programming, and to enhance their flexibility while at work, they will need the laptop. On the other hand, Students also need accessibility to laptops to use on doing assignments, notes, and homework hence it is also a necessity to them. Generally, some occupation makes the consumer treat a laptop as a priority in their work and they have no other option but buying one. Other professions influence the purchasing power of the laptop due to the level of income. The consumer could treat the network as a luxury, and in this case, with a high level of income, the capability to purchase is higher, while on the other hand, with an occupation that pays less, they would not need to own one.

Age and Gender

Age is one of the significant influences on the purchase and is associated with technology use and the total percent of the population. In the UK, majority technology consumers are the youth; hence, there is a high expectation of the use of laptops by the generation (Tallvid, et al 2015). Additionally, they also include the most significant percentage of the population; thus, there is a broad market of the computer. Therefore, there is a high expectation of the increase in sale laptop among the people aged between16-24 (Smith, 2019). As an addition, the generation is also composed of the most college student, and a computer is one of the basic needs in college; generally, there is a higher promise in demand in this age blanket. In the laptop industry, gender has no significant impact on the market. Figure 4 shows the percentage sale of laptop by gender the UK market, in the year 2018 when 51percent of the total laptop buyer ware male while 49 percent ware female (Smith, 2019). Therefore, the disparity in the market is only 2%.

Altitudes and personal traitsAttributes and personal traits are characteristics of an individual and their nature. Psychologists define personality traits as the individual uniqueness on their way of thinking, behaving, and association with others (Wong, et al 2014). These traits also influence the partic...