Consumers are being influenced by a number of psychological factors in the purchase of various products and services.

Join WhatsApp Channel Join Facebook Page/Group

 Psychological factors influence the consumer’s decision-making process while purchasing the product or service and so the marketers need to understand these factors.

There are four types of such factors: 

Motivation: Consumers buy the product when they feel the need of the product or service and are motivated to buy it. Motivation is a driving force that impels the person to buy the product.

A person is motivated to buy a product when he gets to know about his unfulfilled needs. A motive is an internal force that orients a person’s activities toward satisfying a need or achieving a goal.

Actions are affected by a set of motives. If marketers can identify motives then they can develop an effective marketing mix.

Needs: Needs are the basic requirement of the the consumers for food, shelter, clothing etc. Need is not created.

Motive: Motive is the direction towards achieving the goals. Motives can be created by society or marketers.

Few scientists have developed theories of motivation like Sigmund Freud’s, Abraham Maslow, and Frederick Herzberg. 

Perception: How the consumer perceives the product affects the purchase decision. It is the process how individuals interpret, select and decide their views about the product into a meaningful picture.

A person gets motivated on the basis of perception. People may have same level of motivation but it’s not necessary that they will react the same way.

There are different forms of perception: Selective exposure, selective attention, selective distortion, and selective retention.

Attitude: Consumer’s purchase decision is influenced by his attitude towards the product, brand, seller etc.

People learn from their observations and experiences. As people gain knowledge from their experience, their behaviour changes.

These changes influence the buyer’s behaviour. They apply the learning’s while purchasing the product. There are four elements of learning: Drives, Cues, Stimuli, and Reinforcement.

Subcribe on Youtube - IGNOU SERVICE

For PDF copy of Solved Assignment

WhatsApp Us - 9113311883(Paid)