the image below shows the results of what lifestyle category I fit into after ta
ID: 3490719 • Letter: T
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the image below shows the results of what lifestyle category I fit into after taking the Vals type survey.. Write a short paper describing how your lifestyle and values impact your use of the web for ecommerce. How is your online consumer behavior affected by your lifestyle
Your VALSTM Type Primary Type: Experiencers Secondary Type: Achievers Your primary VALS type means that you are most like the Experiencers consumerAcliementser ugrzI group. Your secondary type the group you are next most like-is Achievers. US VALS™ Framework High Resources nnovalors hirkersAcers Belevers Strivers Makers Your primary VALS type represents your dominant approach to life. The secondary ·2015 by grategc Breese .com. NIramennt type represents a particular emphasis on the dominant approach. Survivors Low ResourcesExplanation / Answer
Inroduction
Consumer Behavior – The consumer, The KING of the market is the one that dominates the market and the market trends. A consumer is someone who pays a sum to consume the goods and services sold by an organization.
The consumer plays a very important role in the demand and supply chain of each and every economic system of every nation. The producers of the goods would lack the motive of producing as there would be no demand for their products.
Who is a consumer?
A consumer need not just be an individual; a consumer can also be an organization. A consumer can be someone who will buy either goods or services or you can also specify the goods and services as economic services or products, or good or commodities.
A consumer is the end user or a target to which the goods and services are sold. In simple words a consumer can be described as:
OR
OR
OR
We can consider all three definitions for a consumer
The consumer is the decision maker here in the economic system. He can take the following decisions
Decision making is the power given to the consumer.
Everyone has been a consumer and participated in the consumer market. The consumer market is where the consumer has the right and the power to make a decision of spending their money. Even buying a packet of chips from a store is being a part of the consumer market as you participate in the buying a packet of chips buy paying a sum for the purchase. Here you are also taking a decision. This is a decision of buying goods and spending your money. You are deciding where to spend your money and on what should you spend your money. You are deciding amongst competitors. The more active the consumers of the nation the more active will be the nation’s consumer market.
What is consumer behavior?
Now that you know who is a consumer you also must know what is consumer behavior and how does it affect the organizations.
Consumer behavior is a physiological process it is all related to the emotions of the consumer. In this process the consumer starts with recognizing the need of the product, and then finds a way or a medium of solving these needs, makes purchase decisions like planning whether he should buy or not buy a certain product, and then he confirms the information, jots down a plan and then implements the plan of making the purchase.
Consumer behavior is physiological; it is human behavior it can change with the slightest change in the market, the atmosphere and the trend. Studying consumer behavior is a challenge take look at a few challenges that is how can you study consumer behavior.
We have four main factors that affect consumer behavior. They are;
Culture plays a very vital role in the determining consumer behavior it is sub divided in
Culture
Culture is a very complex belief of human behavior it includes the human society, the roles that the society plays, the behavior of the society, its values customs and traditions. Culture needs to be examined as it is a very important factor that influences consumer behavior.
Sub-Culture
Sub-culture is the group of people who share the same values, customs and traditions. You can define them as the nation, the religion, racial groups and also groups of people sharing the same geographic location
Social Class
Society possesses social class; every society possesses one. It is essential to know what social class is being targeted as the buying behavior of a social class is quite similar. Remember not just the income but even other factors describe social class of a group of consumers.
Social factors are also subdivided into the following
Reference groups
Under social factors reference groups have a great potential of influencing consumer behavior. Of course its impact varies across products and brands. This group often includes an opinion leader.
Family
The behavior of a consumer is not only influenced by their motivations and personalities but also their families and family members who can two or more people living together either because of blood relationship or marriage.
Role and status
People who belong to different organizations, groups or club members, families play roles and have a status to maintain. These roles and status that they have to maintain also influences consumer behavior as they decide to spend accordingly.
A number of personal factors also influence the consumer behavior. In fact this is one major factor that influences consumer behavior. The sub factors under personal factor are listed below.
Age and life cycle stage
Age of a consumer and his life cycle are two most important sub factors under personal factors. With the age and the life cycle the consumers purchase options and the motive of purchase changes, with his decisions of buying products change. Hence this stage does affect consumer behavior.
Occupation
Occupation of a consumer is affects the goods and services a consumer buys. The occupations group has above average interest in buying different products and services offered by organizations. In fact organizations produce separate products for different occupational groups.
Financial or economic situations
Everything can be bought and sold with the help of money. If the economic situation of a consumer is not good or stable it will affect his purchase power, in fact if the consumers or the economy of a nation is suffering a loss it defiantly affects the consumers purchase or spending decisions.
Life style
People originating from different cultures, sub cultures, occupations and even social class have different styles of living. Life style can confirm the interest, opinions and activities of people. Different life styles affect the purchase pattern of consumers.
Self concept and personality
Every individual is different and have different and distinct personalities. Their distinct personalities and distinct physiology effects their buying decisions. Hence purchase of products and services defers from person to person.
4 psychological factors affect consumer behavior very strongly. Let’s look at them in detail.
Motivation
Motivation is activating the internal needs and requirements of the consumer. It can also be described as goals and needs of the consumers. Motivation arouses and directs the consumers towards certain goals. These needs can be psychological needs, needs of security, social needs, esteem needs and also self actualizing needs.
Perception
Perception is sensing the world and the situations around and then taking a decision accordingly. Every individual look as the world and the situations differently. The judging ability and capacity of every individual is different and hence the look at the world differently. This is what separates the decision taking abilities.
Learning and experience
Learning is the research of products and services before the consumer takes the decision of buying a product. Learning and self educating these days is done online and also in groups. Experience is taking a lesson from the past experiences of a product and service. Learning and experience both again play an important role in influencing the consumer’s behavior as it influences their purchase decision.
Attitude and beliefs
Attitude is a consumer’s positive and critical emotional condition or emotional feeling, also its tendency of reaction to certain actions and behaviors. Beliefs of people that are the belief that people assume the products to be as make the specifications of the products. Hence attitude and beliefs are also important and need to be taken into consideration while studying human behavior.
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