Question

In a survey, it was observed that families having young kids spend more on toys and sweets, the families having teenagers spends more on recreation and the families having old age people have to spend more on medication or hospital expenses.
Which factors influencing buyer behavior are being reflected here? Discuss any three more factors influencing buyer behavior.

Answer 1

Personal factors reflected in the case. 
Other three factors influencing buyer behaviour:
(a) Motivation: Motivation is the driving force within individuals that impels or compels them to take action. Simple stated, this driving force is produced by a state of tension which exists as the result of unfulfilled needs.
(b) Perceptions: it has been observed that two people with the same level of motivation and in the same situation act differently because of different perception. Perception is an individual process. It depends on personal beliefs, experience, needs, moods and expectations.
(c) Occupation: A person‘s occupation is an important social status indicator. Marketers always keep this factor while targeting market for their products or services. For example – the buying pattern of professionals like lawyers, doctors, a taxi driver, a medical representatives and a teacher will not be alike.