How Social Classes Affect The Consumer Decision Making Process?

Social class can have a profound effect on consumer spending habits. Perhaps the most obvious effect is the level of disposable income of each social class. Generally,

the rich have the ability to purchase more consumer goods than those with less income

, and those goods are of higher quality.

How do social factors affect consumer buying behavior?

People Influencing People. Social factors represent another important set of influences on consumer behavior. Specifically, these are the

effects of people and groups influencing one another through culture and subculture, social class, reference groups, and family

.

How culture social class subculture can affect consumer behavior?

Like culture, it affects consumer behavior

by shaping individuals’ perceptions of their needs and wants

. … In other countries, such as the United States, social class is more permeable, and people can move between classes more easily based on their circumstances, behaviors, and life choices.

What influences the consumer decision making process?

The factors that influence the consumer problem-solving process are many and complex. …

Psychological Factors relate to

the consumer’s motivation, learning, socialization, attitudes, and beliefs. Social Factors pertain to the influence of culture, social class, family, and reference groups.

What are the five social factors that influence consumer decisions?

• Reference Groups.
• Immediate Family Members.
• Relatives.
• Role in the Society.
• Status in the society.

What is the difference between culture subculture and social class?

Subcultures include nationalities,

religions

, racial groups, and geographic regions. Social class is a relatively homogeneous and enduring division in a society, that are hierarchically ordered and whose members share similar values, interests, and behaviors.

What are the factors that affect Reference Group influence?

• Information and Experience.
• Credibility and power of the reference group.
• Conspicuousness of the product.

What are the 7 steps of effective decision making?

1. Step 1: Identify the decision. You realize that you need to make a decision. …
2. Step 2: Gather relevant information. …
3. Step 3: Identify the alternatives. …
4. Step 4: Weigh the evidence. …
5. Step 5: Choose among alternatives. …
6. Step 6: Take action. …
7. Step 7: Review your decision & its consequences.

What are the stages of consumer decision making process?

• Problem recognition: Recognizes the need for a service or product.
• Information search: Gathers information.
• Alternatives evaluation: Weighs choices against comparable alternatives.
• Purchase decision: Makes actual purchase.

What is the consumer decision making process?

The consumer decision making process is the

process by which consumers become aware of and identify their needs

; collect information on how to best solve these needs; evaluate alternative available options; make a purchasing decision; and evaluate their purchase.

Which of the following is a social factor that affects consumer decision making?

People Influencing People. Social factors represent another important set of influences on consumer behavior. Specifically, these are the effects of people and groups influencing one another through

culture and subculture, social class, reference groups, and family

.

What are the social factors that affect business?

• Acceptance of internet commerce.
• Advertising preferences.
• Age distribution.
• Buying habits.
• Comfort with technology.
• Customer service expectations.
• Disposable income levels.
• Education level.

What are the social and cultural factors that affect consumer buying decisions?

Cultural Factors have strong influence on consumer buyer behavior

What is the main difference between culture and subculture?

Culture- includes knowledge, values, customs, & physical objects (material culture) that are shared by members of a society. Subculture-

Any group that exists within dominant, mainstream culture

What are 5 examples of culture?

• Norms. Norms are informal, unwritten rules that govern social behaviors.
• Languages.
• Festivals.
• Rituals & Ceremony.
• Holidays.
• Pastimes.
• Food.
• Architecture.

What are examples of subculture?

Subcultures are part of society while keeping their specific characteristics intact. Examples of subcultures include

hippies, goths, bikers, and skinheads

. The concept of subcultures was developed in sociology and cultural studies. Subcultures differ from countercultures.