Description
Over the past years, extensive research has been done by marketing professionals on the various factors that play in consumer decision-making at the time of purchasing a good or service. One of the most important factors that influence consumer buying decisions is demography which Is the personal condition of the buyer. In the paragraphs below, we shall pinpoint some of the demographic factors that play a vital role in purchase decision making as well as influencing consumer behavior
Age.
Age is the first demographic factor we shall talk about that influences consumer buying decision-making patterns. For example, when people are young, they tend to spend more on lifestyle and fancy things but when they get older, they focus more on their health and wellbeing. As people get older, they spend more time at home thus a greater probability to purchase online and increase their spending on health-related products. People’s choices in products and brands, change as they grow older. Age is a very important demographic factor during market segmentation.
Sex.
Another important demographic factor that highly influences consumer behavior and buying decisions is age. As we all know, there are two sex types on earth male and female which mean, there are things meant for a male that female have nothing to do with except they purchase it on behalf of a male and vice versa. However, there are some areas of consumption whereby both sex may have the same decision and behavioral patterns such as technological gadgets, entertainment, and groceries just to name a few. So, marketers should always take into consideration this factor while building their strategy
Income level
It is obvious that purchasing power is determined by someones income. The level of income will affect consumer behavior and purchase decision patterns. The more money you make the more you prefer luxurious goods and vice versa. The middle-class buyer will focus more on how useful a product or service is while the person with a higher income will have a wide range of features such as style, design, and some other special effects. A buyer with higher disposable income will highly prefer luxury brands that are sold in the upscale luxury shop than a middle-class. Even where they live, and type of houses differ. Thats why during a social media campaign, information on consumer income level is very vital as it facilitates targeting depending on the type of product.
Level of education.
When a consumer starts making informed decisions before purchase, it shows how educated he might be. The more educated a customer is, the more he controls his emotion and the more he does research on a product or service before purchase. The educated customers purchasing pattern is different from the less educated
There are several other demographic factors such as (race, employment, location, homeownership) that influence consumer behavior and customer purchase decision pattern, but the aforementioned factors are the most common. While income level and sex influence the purchase pattern, age and sex do the same and also influence consumer behavior
References:
Effects of demographic factors on consumer behavior: Age, sex, income, and education
David, Jobber. (2007), Principles and practice of marketing, 5th edition
Kotler, P., & Armstrong, G. (2010). Principles of marketing. Pearson education.
