MKT 100 Final: Chapter 5 MKT Final

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Summarize how psychological, social and situaional factors inluence consumers" buying behaviour. First and foremost, irms must design their products and services to meet their customers" wants and needs, but understanding certain aspects of consumer behaviour can help as well. For instance, it is important to understand people"s moives, their aitudes and their percepions. Knowledge about these psychological characterisics helps irms design and provide products and services that their customers want and need. Consumers are inluenced by their family, their reference groups, and their culture. Understanding these social groups and people"s roles within them provides important insights into consumers" buying behaviour. Finally, through consumers already carry a host of psychological and social factors along with them on a shopping expediion, certain other factors can inluence a purchase at the point of sale. For instance, customers might change their buying behaviour because their purchase situaion is diferent than the one they are used to.