understand the complexity of social factors Why do people buy what they buy? Why do they buy in the first place? What factors, other than the product, price, access, and promotion, influence purchase behaviour?There are two primary drivers of consumer behaviour – needs and influencers. This is the third of 5 thoughts addressing the needs […]

understand the complexity of social factors Why do people buy what they buy? Why do they buy in the first place? What factors, other than the product, price, access, and promotion, influence purchase behaviour?There are two primary drivers of consumer behaviour – needs and influencers. This is the third of 5 thoughts addressing the needs and influencers that drive purchase behaviour. Marketing strategies must be developed with due consideration given to each of these factors. Social factors are significant influencers of consumer behaviour. Social factors include: Reference groups – those who refer, and those who are consulted Family – who may also refer and consult Role and status – groups and organisations and people’s positions in them In a world of social media where surveys suggest that 90% of people consider reviews provided by reference groups, family, friends club members and the like, social factors are more important influencers of…