#192 Consumer behavior is influenced by three factors

Consumer behavior is influenced by three factors - Psychology

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• Consumer behavior is influenced by three factors: cultural (culture, subculture, and social class), social (reference groups, family, and social roles and statuses), and personal (age, stage in the life cycle, occupation, economic circumstances, lifestyle, personality, and self-concept). Research into these factors can provide clues to reach and serve consumers more effectively.

 By considering the above argument, discuss how following companies are approaching customers by targeting cultural, social, and personal factors.

• SHAN (4 Marks)
• SAMSUNG ELECTRONICS (3 Marks)
• KHAADI (3 Marks)

 Note: You are encouraged to write your answer in small paragraph and in bullet points. The maximum length of this answer should not be more than 500 words.

these are three products you have to define three according to the question or just answer samsung as its international brand i will do others on my own

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Consumer behaviour controls the type of marketing strategy that an organization implements. As the world becomes overwhelmingly digitally driven. Many, but not all, components of consumer behaviour can be captured by the analytics provided within the marketing channels your company already uses. Some of the strategies applied by Samsung are as follows:

· Samsung bought million copies of Magna Carta Holy Grail album of Jay-z for 5 million as a part of brand association. They distributed these albums to Galaxy smartphone users 3 days in advance to the original release date. This type of sub-cultural brand sponsorship helped Samsung reach out to the mega stardom of Jay-z and created a mass brand awareness about their products

· Official sponsorships help with the brand awareness and consumer connect for any brand tapping at the personal aspect of consumer behaviour. Consumers drawn to a particular event gets increasing exposure of the product which greatly impacts on the consumer’s attitudes for eg.: Samsung became the official sponsor

· Samsung provide wider range of smartphones focusing on the lifestyle, status and economic circumstances of the consumers. Samsung Guru for instance was launched specifically to cater to the lower class workers whereas Samsung Galaxy series is affordable for middle-class workers, especially those to prefer quality smart-phone at affordable rates.

· Samsung Galaxy fold launched in 2020 is an age specific phone catering to the needs of the young generating that classifies class, social status and fineness

· Samsung Technologies invest huge in R&D that primarily focuses on upscaling their products and meeting the market standard. The main objective of R&D is to establish a unique position in the market using technological innovates to meet the consumers demands at all three levels.

·     Keeping abreast to the trends, Samsung technologies launched home appliances (Air Dressers, AI Wash and Bespoke fridge) that brings a unique design to match the consumer’s lifestyle and social class. These appliances