Annotated Bibliography
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Thesis statement
In understanding a humanistic approach to consumer behaviors, there is the need to find and focus on the best ways of satisfying customers’ wants and or needs. The information and factors such as social, psychological, personal, and cultural factors play very crucial roles in the decision-making process of consumers that ultimately define their buying behavior’ tries to disclose the best practices that will positively influence the consumers’ buying behavior humanely. As a behavioral approach, the humanistic approach focuses on examining consumers’ perceptions and sensory experiences. As such, it has to encompass strategies that focus more on the reflective aspects of consumers rather than the generic elements. The approaches could constitute aspects of how information affects consumers’ purchasing behavior, the effect of the decision-making process, as well as how social, psychological, personal, and cultural factors affect consumer behavior, among others.
Issues to be Addressed.
How Access to Information Affects the Purchasing Behavior of Consumers.
Schrezenmaier, T. C. (2005). A methodological exploration of behavioral economics’s relevance to the study of consumer brand choice (Doctoral dissertation, Cardiff Business School, University of Wales).
Given that information is a prerequisite element in every being’s decision-making process, what positive impacts does it have on the consumers’ behavior? Does access to information positively affect the behavior of consumers? Understanding what determines one to take a decision requires expert knowledge. In what quantities and when to consume mainly rely on consumers’ information on the product. This information is essential in formulating long-term forecasts in regard to consumer behavior. Knowing the factors that influence an individual’s decision-making process is crucial as they help understand their behavior. Schrezenmaier (2005) gives insights on factors, one of them being information that influences consumers’ decision-making process, ultimately affecting their behavior.
How Social, Psychological, Personal and Cultural Factors Affect Consumer Behavior.
Durmaz, Y., & Jabłoński, S. (2012). Integrated Approach to Factors Affecting Consumers’ Purchase Behavior in Poland and an Empirical Study. Wyższa Szkoła Ekonomii, Turystyki I Nauk Społecznych.
Consumer buying behavior refers to the purchasing behavior of the final consumer. According to Durmaz and Jabłoński (2012), as far as consumer buying trends are concerned, it is prudent to understand their buying behavior to realize the best customer service that works best for their continued loyalty. Numerous factors, characteristics, and specificities influence shopping habits, purchasing behavior, and the brands the consumer buys. Being able to understand such factors that influence the buying behavior of a consumer, one can design the best customer service practice to make the customer loyal to his or her products and services. The buying behavior is affected by such factors as; personal, psychological, social, and cultural factors. These factors make customers develop brand or product preference or taste. When buying any product, a consumer undergoes decision-making processes that entail up to five steps: recognition of a problem, research on information, evaluation of available alternatives, deciding on the purchase, and past buying behavior. The first impression on a given product or brand will, by default, influence the consumer’s subsequent purchase hence his or her buying behavior. The source is resourceful in my topic as it elaborates on how certain factors affect the purchasing power of the consumers. The insights herein are beneficial to firms, especially those still struggling to win their consumers’ loyalty.
References
Schrezenmaier, T. C. (2005). A methodological exploration of behavioral economics’s relevance to the study of consumer brand choice (Doctoral dissertation, Cardiff Business School, University of Wales).
Hervé, C., & Mullet, E. (2009). Age and factors influencing consumer behavior. International Journal of Consumer Studies, 33(3), 302-308.
Gajjar, N. B. (2013). Factors affecting consumer behavior. International Journal of Research in Humanities and Social Sciences, 1(2), 10-15.
Jisana, T. K. (2014). Consumer behavior models: an overview. Sai Om Journal of Commerce & Management, 1(5), 34-43.
Furaiji, F., Łatuszyńska, M., & Wawrzyniak, A. (2012). An empirical study of the factors influencing consumer behavior in the electric appliances market. Contemporary Economics, 6(3), 76-86.
Khaniwale, M. (2015). Consumer buying behavior. International Journal of innovation and scientific research, 14(2), 278-286.
Durmaz, Y. (2014). The impact of psychological factors on the consumer buying behavior and an empirical application in Turkey.
Callwood, K. (2013). Psychological factors that influence consumer buying behavior. Journal of Business, 15(2), 39-48.
Durmaz, Y., & Jabłoński, S. (2012). Integrated Approach to Factors Affecting Consumers’ Purchase Behavior in Poland and an Empirical Study. Wyższa Szkoła Ekonomii, Turystyki i Nauk Społecznych.
Statt, D. A. (1997). People as consumers. Understanding the consumer (pp. 3-11). Palgrave, London.