Personal Factors influencing Consumer Behavior:-
A buyers decision also influence by personal characteristics notably the buyers’ age and life cycle stage, occupation, economic circumstance, lifestyle, and personality and self-concept.
Age & Life-cycle:-
Stage: The life cycle of a person begins with child birth shifts to depend infancy adolescence, teenage, adults’ middle age old and then ends with death.
Occupation: – The occupation of the person decides his ability to buy. Ex.:- A company manager will prefer expensive suits, air travel, separate cottage, etc.
People’s economic circumstances refer to their spendable income, savings, assets, borrowing power & attitude towards spending versus saving.
The pattern or way of living of a person will be indicated through the person’s activities, interest & opinions.
Personality and self concept:
Personality is defined as the person’s distinguishing psychological characteristics that lead to relatively consistent & enduring response to his or her environment. Personality is described in terms of such treats as self-confidence, dominance, autonomy, deference, sociability, defensiveness & adaptability.