Consumer behavior Essay
Understanding the consumer attitudes and behavior is one of the key factors for an organization to successfully tap the business opportunities in the Philippines. This aspect is more crucial especially during crisis periods when there are number of changes in consumer attitudes and behaviors. The marketing managers and advertisers need to know and consider these changes while developing their promotional plans and media-mixes. In the short term, behavioral dimensions maybe even more important than lifestyle or brand attitudes.
Consumers in the Philippines react positively to industries like IT, Telecommunication, Pharmaceuticals and Cosmetics which meets their growing needs in IT, Aviation, Communication and Health sectors. The Filipinos tend to spend more on their needs in these product segments and less on material goods. In the recent years, there has been a cultural shift in the buying behavior of the consumers in the Philippines. Now, they are more inclined to spend on things which they need, unlike before, when they were more keen on increasing their savings.
Hence adapting the product and pricing strategies accordingly so as to meet the needs of the consumers is crucial for any organization striving for growing its business in the Philippines. There are generally three components of a culture: beliefs, values, and customs. •A belief is a proposition that reflects a person’s particular knowledge and assessment of something. •Values are general statements that guide behavior and influence beliefs. The function of a value system is to help a person choose between alternatives ineveryday life. •Customs are modes of behavior that constitute culturally approved ways of behaving in specific situations.
•Culture as an Influence on Consumer Behavior
•Culture is considered an external factor in influencing consumer behavior. Since different cultures have different values, they will have different buying habits. Marketing strategies should reflect the culture that is being targeted. The strategyshould show the product or service as reinforcing the beliefs, values and customs of the targeted culture. Failing to do so can result in lost sales and opportunities.
What influences a Filipino consumer to purchase products or services? The Filipino consumer buying process is a complex matter as many internal and external factors have an impact on the buying decisions of Filipinos. When purchasing a product there are several processes a Filipino consumer goes through.
Filipinos are affected by many uncontrollable factors. Just think about what factors influences you before you buy a product or use a certain service?
Your friends, your upbringing, your culture, the media, a role model or influences from certain groups?
Culture is one factor that influences behavior. Culture means our beliefs and attitudes. As an individual growing up, these beliefs and attitudes developed. A child is influenced by his father, mother, and siblings and also their close family members who teach the child what the difference is between right or wrong. They learn about their culture and religion, which helps them develop their own attitudes, opinions and beliefs. These factors will influence their purchasing behavior however other factors like groups of friends, or people they look up to may also influence their choices of purchasing a particular product or service.
Culture is the fundamental determinant of buying behavior and decision making. It is the most encompassing of the social environment and is a complex set of values, ideas, and attitudes. Culture develops because we live together with other people in a society, and living with others creates the need to determine what behaviors are acceptable to all members of the group. Individuals absorb cultural values, ideas, and attitudes from families, the educational process, and religious training.
Reference groups are particular groups of people some people may look up towards to that have an impact on consumer behavior. So they can be simply be your favorite boy band like The Backstreet Boys or even a local sensation like Vice Ganda or even your immediate family members.