Study of consumer behaviour enables the marketers to identify the factors that can impact the purchase decision of the customers. Based on market research, it has been found that social factors directly influence buying decision of the consumers. This report has discussed the role of the social factors in influencing consumers’ purchase decision. Based on this discussion, it has been found that cultural background, reference group, family and social class are some of the most crucial factors that directly stimulates the buying habits of the consumers. Hence, marketers are required to analyse the social factors while preparing marketing strategies. Development of 4P’s of the company and targeting the customers are required to be synchronised with above mentioned social factors of the consumers.
In order to attract the consumers to purchase a purchase a particular product or services, it is important for the marketers to understand consumers’ buying behaviour. In other words, by identifying the factors that stimulate the customers to take the final decision related to the purchase of any product or services, the companies can prepare effective marketing strategies (Blodgett, Hill & Tax, 2007). Studies of consumer behaviour models have indicated that social factors such as culture, family, reference groups etc. significantly impact purchase decision of the customers. This report intends to discuss the role of the social factors in influencing the buying decision of the customers.
Impact of social influences on consumer purchase decision
Role of culture
Culture can be defined as the combination of beliefs, values and customs that affect individual behaviour (Stone & Grønhaug, 2008). In most of the researches related to the consumer behaviour, it has been shown that culture has a significance role in impacting the buying decision of the customers. In this regards, Buttle (2008) added that culture directs the process by which a particular product can be launched in the market. Culture can gain be sub-divided into sub-cultures based on the race, religion and class. For instance, a customer can be part of the Chinese culture, however, socio-economic background of the customer can also influence the customers’ purchase decision.
Culture is considered as an important factor that affects buying behaviour of the customer. In this context, Creyer (2012) mentioned that as the customers of different cultures possess different values, their buying habits also changes accordingly. For instance, the Muslims and the Christians have no problem in beef but the Hindus do not take beef. Hence, the managers of the restaurants are required to consider this food habits while catering to the customers of these religions. On the other hand, income status of the consumers can also be treated as a vital sub-culture that affects the buying decision of the customers (Kahan, 2009). It has been found that people from the upper class prefer to stay in the hotels with high facilities. Cost of staying does not stimulate their buying decisions. On the other hand, people from the middle class prefer economic hotels. Therefore, it can be stated that the pricing strategy of these hotels are immensely been impacted based on the income status of the customers. Beckett (2009) identified that purchase decision of the customers can immensely vary based on the gender. Most of the studies have revealed differences in the purchase pattern of the males and females.