3.7 : Factors Affecting Consumer Decision Process - Personal

Personal factors are individual characteristics and traits that influence consumer behavior. These factors are unique to each person and can significantly impact how individuals perceive and respond to marketing stimuli.

Some key personal factors affecting consumer behavior are:

• Age and Life Cycle Stage:
  • ⚬ Different life stages come with varying needs and preferences.
  • ⚬ Major events like marriage, parenthood, or retirement can profoundly influence purchasing behavior.
• Occupation:
  • ⚬ Occupation correlates with income, influencing product affordability and preferences.
  • ⚬ Job demands influence purchasing decisions, such as work attire or technology preferences.
• Economic Situation:
  • ⚬ Economic situations impact purchasing power, affecting consumer confidence and spending habits.
  • ⚬ Different economic situations lead to varying comfort levels with financial risk and priorities for saving and investing.
• Lifestyle:
  • ⚬ Lifestyle choices, including hobbies, influence product preferences.
  • ⚬ Social interactions shape lifestyle choices and consumption patterns.
• Personality and Self-Concept:
  • ⚬ Individual personality traits, like extroversion or conscientiousness, impact purchasing behavior.
  • ⚬ Certain personality types may be more inclined to specific brands that align with their values.
  • ⚬ Consumers may choose products that reflect their desired social identity.
  • ⚬ Consumers make purchases to enhance or express their self-image.

Understanding these personal factors enables marketers to create targeted campaigns that enhance communication and product positioning for specific population segments.