If they have unwell parents at home, they are willing to spend money on medicines, health supplements, vitamin pills, and protein drinks. Family plays an important role in the development of people’s character. So it follows that the way they consume products and services is shaped by their family as well. This branch of consumer behavior studies these effects and how to utilize them in marketing strategies.
No two people have the same purchase habits. Individual buying habits differ depending on their age, need, money, lifestyle, geographic region, willingness to spend, and family status, among other factors. Immediate family members have a significant influence on a person’s purchasing decisions. Before acquiring a product or service, an individual will usually consult with his immediate relatives. Family members may support or oppose a person’s decision to purchase a product, or they may propose a few alternatives. What a person learns from his parents creates his or her culture. In nations such as India, where children are expected to live with their parents until they marry, the impact of parents on a person’s purchasing decisions cannot be overlooked. What he observes as a youngster becomes a habit or, in other words, a way of life for him. Salwar suits and saris, rather than westerns or short dresses, are preferred by traditional women. During marriages, festivals, and other significant events in India, parents want their children to dress up in lovely, colorful clothing. Even if youngsters express a desire to purchase something different, their parents will always encourage them to purchase conventional clothing, so influencing their purchasing decision.
The definition of family has been evolving over the past decades. The past year showed us the importance of spending time with our families and further helped us define who we include in our family. Given that family has an immense impact on the purchasing decisions of consumers everywhere, the changes in the definition are … Read more