Consumer buyer behavior is the process in which individuals seek out, choose, and purchase goods and services according to their needs and wants.
There are four key factors that affect consumer buyer behavior: cultural, social, personal, and psycological.
Depending on a consumer's culture, subculture, and/or social class, an individual will purchase a particular brand that is popular amongst his/her peers.
A consumer's social group has a drastic impact on a which product they will purchase. For example, if Joe's mother has been using Tide detergent all of his life, he is very likely to use the same.
Age, life-cycle stage, occupation, economic circumstances, lifestyle, and personality are all personal characteristics that will influence the buyer's behavior. For instance, a man going through a mid-life crisis is likely to go purchase a new sports car.
Psychological factors include motivation, perception, learning, and beliefs and attitudes. A person's desire for belonging might motivate consumer's to purchase name brand products such as Gucci, Prada, or Armani to fit into a desired enviroment.
The product I decided on are purses. Roxy bags are geared towards younger generation females who enjoy beach and surf. Their products resemble beach bags and are specifically shelved at specific stores. Xoxo totes are popular within the "hip-hop" community. They are reasonably priced for such consumers to purchase. Coach purses are of higher quality. Their stores are strategically located in communities where consumers are more likely to afford their products....