Perspectives of Consumer Behaviour Essay Example

  • Category:
  • Document type:
  • Level:
  • Page:
  • Words:

Student’s Last Name 2

17th March, 2016

Book Review: Perspectives of Consumer Behaviour

Economic Perspective

Besides the regular demand and supply factors that control markets, consumer behaviour is highly influenced by underlying tendencies that seem to control how they will purchase goods and services. As a perspective of consumer behaviour, economic perspectives always stem from, among other issues, the constant need to associate oneself with what a person deems to be appropriate for people in their social class. Economic perspectives dictate that the more a person has in terms of disposable income, the more they are likely to have a stronger purchasing power and taste for things they may not necessarily be in dire need of. While the book does actually let this perspective ride on economic factors alone, the other basic perspectives responsible for such actions may be psychological and social.

When a customer has a choice of two products, their buying is almost always controlled by their budgets. Some may opt for on product over another due to factors such as product being sold on auction. Outlets with budget-friendly products are likely to have more customers during specific days of the month, usually when money is available for use (“Solomon et. al.” 381). Sometimes, customers are forced to scale down on their purchase of particular products due to economic factors as dictated by price fluctuations. In such instance, the marginal rate of substitution dictates that a person is likely to drop the use of other goods with the intention of obtaining another that may appear to be more appealing, or even more useful for satisfying an immediate need.

Sociological Perspective

Generally, the ideally wealthy people want to purchase products that are out of reach for the people in lower classes. Sociological perspectives try to explain how this behaviour is entrenched in people. While this is understood as natural, the book explains further by lending credence to the fact that social factors may be controlled through discipline since one has control over their bodies. Secondly, that constant surveillance aimed at reducing these behaviours are appropriate, seeing as groupings in various settings may influence a person’s behaviour, hence bodily control. Social class may dictate which places one visits to purchase their items of preference (“Gunter and Adrian” 103). While those high up in the social class may prefer malls to smaller stores, the poor may find it easier to visit convenient stores that stock particular items cheaply, since this may afford them some products are cheaper rates.

A regular customer at a store may not always be influenced by their social class, but by convenience, hence the book finds it only natural to explain that sociological perspectives, while tied, somehow, to economic perspectives, is equally influenced by social factors like options exercised by people for personal reasons. Further, the book explains that the consumers in the high class category set the pace for general conduct in consumer behaviour. Those considered as subordinates are wont to follow trends that are set by the people in the high class bracket. Association of tastes with consumer behaviour is an idea that is rarely far-fetched. Consumers always want to appear appealing through consuming what embodies their preferences in life.

Psychological Perspectives

A regular consumer of certain products displays certain characteristics: Of most importance though, is the need that drives these characteristics. More often than not, it is the physiological, safety, love and esteem, as needs, which bring out how psychologically one responds to their consumer needs. Broadly painted, psychological perspective is brought out properly through a study of various needs that a customer has. As aforementioned, these needs develop the sociological perspectives to a great extent. However, the psychological perspective is basically a more concerted effort towards explaining the triggers of sociological perspectives (Oliver” 15). In doing so, needs are ranked according to what is most important. Expect a list to mention the most important things first, then the least important ones at the very end. The book notes that Maslow’s Hierarchy of needs is greatly responsible for this kind of thing so much so that we are conditioned to always satisfy some needs before others.

While it is such needs that are responded to accordingly, the order of activities that accompany a complete purchase may be influenced through the following process: A customer first has to become aware of the existence of the product. They can then seek to know what the product is all about. This creates a liking in them for the product, after which they have preferences for a range of products in the same category. A conviction on which one to purchase finally makes them purchase the product they find most appealing.

Works Cited

Gunter, Barrie, and Adrian Furnham. Consumer Profiles (RLE Consumer Behaviour): An Introduction to Psychographics. Vol. 5. Routledge, 2014.

Joe, M. M., Yusuf, F. and Swanson, D. Consumer Demographics and Behaviour: Markets are People. Vol. 30, Springer. 2012. Print.

Oliver, Richard L. Satisfaction: A behavioural perspective on the consumer. Routledge, 2014.

Solomon, Michael, Rebekah Russell-Bennett, and Josephine Previte. Consumer behaviour. Pearson Higher Education AU, 2012.